Anti-Lock Braking System Global Market 2016 to 2020
WiseGuyReports.com adds “Anti-Lock Braking System Global Market 2016 to 2020” to its research database.
This market research report includes a detailed segmentation of the anti-lock braking system market by application type (passenger cars, light commercial vehicles, and heavy commercial vehicles). It outlines the market shares for APAC, EMEA, and the Americas. The key vendors analyzed in this report are Autolive, Continental, Delphi, and Bosch.
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Market outlook of the anti-lock braking system market
Technavio’s research analyst predicts the global anti-lock braking system market to grow at a CAGR of around 6% during the forecast period. An increased focus on vehicle safety backed by government support for safety systems is driving the ABS market. In the past, ABS was largely restricted to high-end luxury vehicles; however, OEMs and tire suppliers have actively invested to reduce the cost of ABS systems so that these systems can be used in mass mid segment vehicles.
There have been an increasing number of road deaths due to vehicle accidents, especially due to improper braking sequence. Various government regulations in this regard focus on the need to implement ABS to reduce road accidents. Many programs that direct and regulate safety requirement for OEMS are being established in emerging countries in Asia and Africa. It is expected to drive the adoption of ABS in these regions over the next four years.
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Geographical segmentation and analysis of the anti-lock braking market
APAC is the largest market for ABS due to the sheer automotive volume of this region, with China and India being the largest market for automotive production and the Americas and EMEA regions closely follow.
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