Market Size of Automotive Anti Lock Braking System And Electronic Stability Control Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 60.97 Billion |
| Market Size (2029) | USD 91.51 Billion |
| CAGR (2024 - 2029) | 8.46 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Automotive Anti-lock Braking System Market Analysis
The Automotive Anti Lock Braking System And Electronic Stability Control Market size is estimated at USD 60.97 billion in 2024, and is expected to reach USD 91.51 billion by 2029, growing at a CAGR of 8.46% during the forecast period (2024-2029).
In 2022, some 85 million motor vehicles were produced worldwide. In 2022, China emerged as the global leader in passenger car production, manufacturing approximately 23.84 million vehicles alongside 3.19 million commercial vehicles, solidifying its position as the foremost producer of passenger cars worldwide.
Over the long term, the increasing acceptance of ABS systems is the growing focus on safety and the potential reduction in road-accident-related deaths. Nearly 3,300 people die every day due to road crashes, and about 9/10th of the casualties occur in middle and low-income countries that have less than half of the world's total vehicles.
The automotive anti-lock brake system market is expected to show a high growth rate as these systems are starting to be used extensively in entry-level two-wheelers. Most two-wheelers in the developed markets are high-end vehicles with safety features similar to the standard. However, in emerging markets, two-wheelers are the cheapest and entry-level vehicles. Increased adoption of such safety systems in passenger vehicles is expected to boost the market during the forecast period.
However, Asia-Pacific is projected to become the key automotive anti-lock braking system market. During the forecast period, Japan, India, and China are the major automotive manufacturing hubs.
Automotive Anti-lock Braking System Industry Segmentation
An anti-lock braking system (ABS) is a safety anti-skid braking system used on aircraft and land vehicles, such as cars, motorcycles, trucks, and buses. ABS operates by preventing the wheels from locking up during braking, thereby maintaining tractive contact with the road surface and allowing the driver to maintain more control over the vehicle.
The automotive anti-lock brake system market has been segmented by vehicle type and geography. The market has been segmented by vehicle type into motorcycles, passenger cars, and commercial vehicles. The market has been segmented by geography into North America, Europe, Asia-Pacific, and the Rest of the world.
The report also covers the market size and forecast for the automotive anti-lock braking system market across the regions mentioned. For each segment, the market sizing and forecast have been done based on value (USD billion) for all the above segments.
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Automotive Anti Lock Braking System And Electronic Stability Control Market Size Summary
The automotive anti-lock braking system (ABS) market is poised for significant growth, driven by the increasing emphasis on vehicle safety and stringent regulatory standards worldwide. As governments and regulatory bodies mandate the inclusion of ABS in new vehicles, both in developed and developing regions, the market is expected to expand substantially. The rising production of motor vehicles, particularly in Asia-Pacific, where countries like China, India, and Japan are major manufacturing hubs, further fuels this growth. The market's expansion is also supported by the growing adoption of ABS in entry-level two-wheelers, especially in emerging markets, where safety features are becoming more prevalent. This trend is bolstered by the global push to reduce road accidents and fatalities, with ABS playing a crucial role in enhancing vehicle control and safety.
The market landscape is characterized by the presence of key players such as Robert Bosch GmbH, Autoliv Inc., Continental Reifen Deutschland GmbH, DENSO Corporation, and ZF Friedrichshafen AG, who are actively investing in technology advancements and strategic partnerships to strengthen their market position. The introduction of new production facilities, such as the Itelma LLC in Russia, highlights the industry's commitment to meeting the growing demand for ABS and electronic stability control systems. Additionally, the market is witnessing increased production capacities and technological innovations, ensuring a steady supply of advanced braking systems. As the automotive industry continues to prioritize safety and compliance with international standards, the ABS market is expected to experience robust growth over the forecast period.
Automotive Anti Lock Braking System And Electronic Stability Control Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.1.1 Strict Rules and Regulations in Vehicle Safety
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1.2 Market Restraints
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1.2.1 Integration Complexity
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1.3 Industry Attractiveness - Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Vehicle Type
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2.1.1 Motorcycles
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2.1.2 Passenger Cars
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2.1.3 Commercial Vehicles
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2.2 Geography
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2.2.1 North America
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2.2.1.1 United States
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2.2.1.2 Canada
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2.2.1.3 Mexico
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2.2.1.4 Rest of North America
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2.2.2 Europe
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2.2.2.1 Germany
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2.2.2.2 United Kingdom
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2.2.2.3 France
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2.2.2.4 Russia
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2.2.2.5 Spain
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2.2.2.6 Rest of Europe
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2.2.3 Asia-Pacific
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2.2.3.1 China
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2.2.3.2 Japan
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2.2.3.3 India
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2.2.3.4 South Korea
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2.2.3.5 Rest of Asia-Pacific
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2.2.4 Rest of the World
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2.2.4.1 Brazil
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2.2.4.2 Argentina
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2.2.4.3 United Arab Emirates
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2.2.4.4 South Africa
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2.2.4.5 Rest of South America
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Automotive Anti Lock Braking System And Electronic Stability Control Market Size FAQs
How big is the Automotive Anti Lock Braking System And Electronic Stability Control Market?
The Automotive Anti Lock Braking System And Electronic Stability Control Market size is expected to reach USD 60.97 billion in 2024 and grow at a CAGR of 8.46% to reach USD 91.51 billion by 2029.
What is the current Automotive Anti Lock Braking System And Electronic Stability Control Market size?
In 2024, the Automotive Anti Lock Braking System And Electronic Stability Control Market size is expected to reach USD 60.97 billion.
