The automotive antilock braking system and electronic stability control global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Automotive Antilock Braking System And Electronic Stability Control Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The automotive antilock braking system and electronic stability control market size has grown strongly in recent years. It will grow from $52.31 billion in 2023 to $56.37 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to a rise in road traffic accidents, growth in government regulations, rise in vehicle production, rise in adoption of electric vehicles, and growth in urbanization.
The automotive antilock braking system and electronic stability control market size is expected to see strong growth in the next few years. It will grow to $76.34 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to the rising implementation of stringent norms, growing awareness about road safety systems, rising production of vehicles, growing demand for electric vehicles, rising demand for advanced safety features, and increasing focus on vehicle safety. Major trends in the forecast period include technological advancements, adoption of 5G technology, enhanced sensor technologies, development of autonomous vehicles, and proactive safety features.
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Scope Of Automotive Antilock Braking System And Electronic Stability Control Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Automotive Antilock Braking System And Electronic Stability Control Market Overview
Market Drivers –
The increasing rate of accidents is expected to propel the growth of the automotive antilock braking system and electronic stability control market going forward. Accidents are rising due to increased vehicle usage and distracted driving, often caused by mobile device use. Additionally, insufficient infrastructure and driver errors contribute to the growing number of accidents. Antilock braking systems prevent wheels from locking during braking, improving steering control and reducing collision risks, while electronic stability control enhances vehicle stability by detecting and minimizing skids, thereby lowering accident rates significantly. For instance, in May 2022, the National Highway Traffic Safety Administration, a US-based federal government, reported a 10.5% rise in motor vehicle crash fatalities, with an average of 42,915 deaths compared to 38,824 in 2020. Therefore, the increasing rate of accidents is driving the growth of the automotive antilock braking system and electronic stability control market.
Market Trends –
Major companies operating in the automotive antilock braking systems and electronic stability control market are focused on developing innovative technologies, such as electric braking systems, to strengthen their position in the market. Electric braking systems aim to enhance safety, efficiency, and performance in vehicles by leveraging electronic controls to manage braking force more effectively than traditional hydraulic systems. For instance, in October 2022, Lippert International Inc., a US-based producer of high-quality connection systems, introduced a fully integrated electric anti-lock braking system. This new system integrates cutting-edge technology to enhance trailer safety and performance. Its key features include real-time monitoring of wheel speed, which allows for precise control and prevents wheel lock-up during braking. The system is designed to be robust and reliable, capable of operating effectively in various road and weather conditions. Lippert’s ABS promises to set a new standard in trailer braking technology, ensuring smoother and safer towing experiences for users across diverse applications.
The automotive antilock braking system and electronic stability control market covered in this report is segmented –
1) By Technology: Three Channel Antilock Braking System, Four Channel Antilock Braking System, Electronic Stability Control
2) By Vehicle Type: Compact Vehicle, Mid-Sized Vehicle, Premium Vehicle, Luxury Vehicle, Commercial Vehicle, Heavy Commercial Vehicle
3) By End Use: Original Equipment Manufacturer, Aftermarket
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Regional Insights –
Europe was the largest region in the automotive antilock braking system and electronic stability control market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive antilock braking system and electronic stability control market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the automotive antilock braking system and electronic stability control market are Toyota Motor Corporation, Ford Motor Company, Robert Bosch GmbH, Hitachi Automotive Systems Ltd., Nissan Motor Co. Ltd., Tata Motors Limited, DENSO Corporation, Continental AG, Hyundai Mobis Co. Ltd., ZF Friedrichshafen AG, Aisin Corporation, Schaeffler Group, Murata Manufacturing Co. Ltd., Autoliv Inc., Knorr-Bremse AG, Akebono Brake Industry Co. Ltd., Bendix Commercial Vehicle Systems LLC, Veoneer HoldCo LLC, Haldex AB, Magneti Marelli, Delphi Technologies, WABCO Holdings Inc.
Table of Contents
1. Executive Summary
2. Automotive Antilock Braking System And Electronic Stability Control Market Report Structure
3. Automotive Antilock Braking System And Electronic Stability Control Market Trends And Strategies
4. Automotive Antilock Braking System And Electronic Stability Control Market – Macro Economic Scenario
5. Automotive Antilock Braking System And Electronic Stability Control Market Size And Growth
…..
27. Automotive Antilock Braking System And Electronic Stability Control Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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