LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global automotive anti-lock braking system (ABS) market is expected to grow at a CAGR of close to 9% during the forecast period.
This research report titled ‘Global Automotive Anti-Lock Braking System Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This report also includes an up to date analysis and forecasts for various market segments and all geographical regions.
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The market research analysis categorizes the global ABS market into three major product segments. They are:
- Passenger cars
- Commercial vehicles
Global automotive ABS market in passenger cars segment
The imposition of safety regulations is expected to drive the acceptance of ABS in passenger cars in emerging markets such as India to influence the growth of ABS in passenger cars segment during the forecast period. Further, the rise in the sales of passenger vehicles globally will drive the demand for ABS during the forecast period.
Bharat New Vehicle Safety Assessment Programme (BNVSAP) will come into effect in October 2017 in India. This will mandate airbags, ABS, and seatbelt reminder in passenger cars. The implementation of this regulation will drive the market for ABS in 2017 owing to the higher consumption of passenger cars in India. Therefore, the growth rate of ABS in the passenger cars segment will witness a strong shift in 2018. Moreover, 80% of the passenger cars in China are equipped with ABS, and the number will increase to 100% during the forecast period.
Global automotive ABS market in commercial vehicles segment
The market for ABS in the commercial vehicles segment is driven by the enforcement of regulations. For instance, India has mandated ABS for all commercial vehicles weighing 12 tons or more effective since October 2015. This has led to the market achieving its full potential in the developed regions while the developing regions continue to witness increased uptake during the forecast period.
“The increasing incidence of vehicle collisions has forced fleet operators to adopt safety systems in commercial vehicles, thereby influencing the growth of the market in this segment. Also, a significant rise in freight transportation requirements has led to an increase in demand for commercial vehicles, which augurs well for the growth of the ABS market,” says Siddharth Jaiswal, a lead analyst at Technavio for automotive electronics research.
Global automotive ABS market in motorcycles segment
The growth of the ABS in the motorcycle segment is also attributed to the rising sales of luxury and ultra-luxury motorcycles. These motorcycles will drive the demand for multiple channel ABS through OEMs.
“The increasing sales of ultra-luxury and luxury motorcycles is being powered by the growing preference for touring and electrification,” says Siddharth.
Moreover, legislations such as mandatory ABS for motorcycles above 125 cc from April 2017 in India will drive the adoption of ABS in the mass segment motorcycles. Europe mandated motorcycle anti-lock brakes from 2016 on all new vehicles. These factors will contribute significantly to the adoption of ABS in the motorcycle segment. Therefore, the segment will witness maximum growth among all segments during the forecast period.
The top vendors highlighted by Technavio’s automotive market research analysts in this report are:
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