NEW YORK, Jan. 25, 2017 /PRNewswire/ — Anti-lock braking system (ABS) is an advanced active braking system used in automobiles, which helps the driver to control their vehicle, when brakes applied, from slip and locking of wheels. ABS allows wheels of a vehicle to maintain dynamic contact with the road surface, proportional to the braking inputs given by the driver.
ABS improves vehicle control and reduces the stopping distance on both dry and slippery roads. Vehicle features such as electronic stability control and safety on different terrains is in demand by automobile buyers; therefore, automobile companies implement ABS along with traction control system, electronic brake force distribution, and electronic stability control to offer advanced and safe automobiles. According to Annual Global Road Crash Statistics, nearly 1.3 million people die every year in road crashes, which creates an urgent need for the inclusion of vehicular safety and control systems such as ABS in the automobiles.
The ABS market is driven by growing demand for safety features, technological advancement, and increase in global safety protocols for vehicle safety. Organizations such as Insurance Institute of Highway Safety, New Car Assessment Program, and International Centre for Automotive Technology assess safety ratings of vehicles and require automobile companies to incorporate safety systems matching the standard safety ratings in their vehicles.
Growth in demand for vehicle safety and comfort systems in automobiles promotes the use of ABS in automobiles. High maintenance cost and high safety standard ratings of ABS systems are the factors that restrain the ABS market. However, development of advanced braking systems for two wheelers and expansion in untapped market of developing countries like India, Indonesia, and Brazil are expected to provide opportunities for the key market players.
The market is segmented on the basis of subsystems, vehicle type, and geography. Based on subsystems, it is classified into sensors, electronic control unit and hydraulic unit. Based on vehicle type, it is classified into two wheelers, passenger cars, and commercial vehicles. Geographically, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, Italy, UK, and rest of Europe), Asia-Pacific (China, Japan, Australia, India, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
Key players operating in the ABS market are Robert Bosch GmbH (Germany), Continental AG (Germany), Autoliv Inc. (Sweden), Nissin Kogyo Co. Ltd. (Japan), WABCO (Belgium), ZF TRW (U.S.), Hyundai Mobis (South Korea), Denso Corporation (Japan), Hitachi Automotive Systems, Ltd. (U.S.), and