Global Anti-Lock Braking System Market is

Global Anti-Lock
Braking System Market is Estimated to Reach $49 Billion by 2024

Global Anti-Lock
Braking System Market report published by Accurize Market Research forecast
that the global market is expected to reach $49 billion by 2024; growing at a
CAGR of 8% from 2017 to 2025. By geography, the Asia Pacific and North America
are expected to grow at a CAGR of XX% and XX%, respectively, during the
forecast period.

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Demand for safety
features in vehicles to drive the market

Demand for safety features
in vehicles such as electronic stability control (ESC), roll-over stability
control (RSC), and traction control system are few driving factors of the
global anti-lock braking system market. However, the high maintenance cost of
anti-lock braking systems may hamper the market. Expansion in untapped markets
of emerging economies and the development of unconventional braking systems for
two-wheelers would unfold attractive business opportunities for the market in
the coming years.

Market Segmentation

The global anti-lock braking
system market has been divided based on sub-systems and vehicle type. By
sub-systems, the market is further split into ECU, sensors, and hydraulic
units. By vehicle type segment, the market is categorized into two-wheelers,
passenger cars, and commercial vehicles.

Geographically the market is
categorized into North America, Europe, Asia-Pacific, and the Rest of the World
(RoW).

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"Passenger cars
accounted for the largest market share in the vehicle type segment", says
Accurize

In the vehicle type segment,
passenger cars accounted for the largest market share in 2017, due to its
increased sales and mandatory installation of the anti-lock braking system.
However, the two-wheeler segment is anticipated to develop at the fastest CAGR
during the forecast period. Also, the hydraulic unit dominated the sub-systems
segment accounting for the highest revenue in 2017.

"Asia-Pacific
dominated the global market with the highest market share over the forecast
period", says Accurize

Asia-Pacific accounted for
the largest market share of 31.8% in 2017 and is expected to continue its
dominance. The growth is majorly attributed to increasing industrialization and
urbanization in emerging countries. North America accounted for the
second-largest market share of 27.8%.

Top players in the
market

Major companies operating in
the market include Autoliv Inc., Robert Bosch GmbH, WABCO, ZF TRW, Hyundai
Mobis, Denso Corporation, Nissin Kogyo Co., Ltd., Hitachi Automotive Systems,
Ltd., Continental AG, and ADVICS Co., Ltd., among others.