Anti-Lock Braking System Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2016 - 2024
Albany, NY -- (SBWIRE) -- 05/17/2018 -- Anti-lock braking system (ABS) is a safety system for automobiles which is intended to keep the wheel rotating and to prevent the skidding of the vehicle. Mechanical anti-lock systems were developed originally in the late 1920s for use in aircrafts. This mechanical systems witness was used at limited instances in vehicles at that time, but never found widespread usage, owing to its unreliability and high price tag. However, anti-lock braking systems are now a standard feature in most of the vehicles and it offers expanded functions as well. Anti-lock braking systems are already mandatory in the developed regions of North America and Europe, while the stringent legislations and safety norms in the developing countries are set to rapidly generate demand for these systems, thereby creating high growth opportunities for the anti-lock braking systems market.
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The expanding number of deaths brought on because of street mishapshas constrained the administration in numerous regions to actualize stringent guidelines and regulations, and deploy ABS in all vehicles, and this is steadily boosting the growth of the global market. For instance, the Road Transport Ministry of India reported in September 2015 that every one of the models of bikes should be fitted with combined braking system (CBS) and anti-lock braking system by 2018. Other than allowing the driver to maintain the directional stability of the vehicle and control over steering during braking there are other importance of ABS which adds to its features. It helps the car to take sharp corners more quickly and safely.
ABS acts as traction control and the classic case is that of the modern Range Rover which uses the in-built ABS to gently brake a slipping wheel to help restore traction and grip.Further, anti-lock braking systems function efficiently to make a vehicle come to halt quickly. Anti-lock braking systems help to absorb the turbulence shock waves and also modulates the pulses, therebyallowing the wheel to continually turn under maximum braking pressure. Thus, the usage of anti-lock braking systems in self-breaking systems is rising significantly. However, inconsistent stop times and high cost associated with these systems are posing to be a restraint to the growth of the global market.
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The global automotiveanti-lock braking systemmarket can be segmented, by components into speed sensors, hydraulic motor, pressure release valves,brake calipers and control module.On the basis of types of the global market can be classified into Four-Channel, Four-Sensor; Three-Channel, Three-Sensor and One-Channel, One-Sensor. In addition, the market can be geographically divided broadly into five regions, namely: North America, Europe, Asia Pacific, South America and Middle East and Africa.
The anti-lock braking system market in North America and Europe has a high penetration rate and is already well-established. The deployment of these systems is also witnessing significant growth in the emerging regions of Asia Pacific, South America and Middle East and Africa, owing to the introduction of stringent legislation and policy framework mandating the installation of safety equipment in automobiles, coupled with the consumers' preference for better safety measures and their rapidly increasing in purchasing power. The developing countries such as Brazil, India, UAE and Russia are expected to record a significant growth in the demand for automotive anti-lock braking systems during the forecast period. However, the largest share of the global market is expected to be held by the major automotive producing countriesof U.K., Germany and China from 2016 – 2024.
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