Market definition of anti-lock braking systems
Thanks to improved performance and features, vehicles are becoming faster by the day. Over the years, stability of the vehicle has become a priority for automobile manufacturers. The introduction of the anti-breaking system (ABS) has emerged as a critical component of vehicle safety, in this regard. It ensures stability while braking and prevents uncontrolled skidding. The anti-lock braking system comes with a central electronic control unit (ECU), four wheel speed sensor, and not less than two hydraulic valves within the brake hydraulics. The system is fully automated and works on the principles of threshold braking and cadence braking.
On the aegis of new developments in automobiles, the market for ABS has gained significant traction. Currently, the global figure for safety component value per vehicle stands approximately at $265. The industry uses disc brakes as well as drum brakes for automobiles. With the increasing prevalence of anti-lock braking systems, electronic stability controls, and traction control systems, the market is predicted to reach a CAGR of close to 8% in the next four years.
Vendor landscape of the Automotive ABS Market
The automotive ABS market is primarily driven by two forces; demand for luxury vehicles and the increasing concerns over vehicle safety. The market is competitive with the presence of many players.
The top five companies in the automotive ABS market are: -
The other prominent vendors in the market are Aisin Seiki, Beijing Automotive Research, Haldex, Hitachi, Jiaazuo, Junen, and NISSIN.
Some key news highlights from the industry: -
• June 2015: Autoliv introduces Torricelli brake (a vacuum braking) that reduces the stopping distance by up to 40%.
• June 2015: Autolive named as the safety supplies of the year by Ford.
• May 2015: DETC enters into a joint venture with Knorr-Bremse for technology expansion in China.
Market segmentation of the automotive ABS market by product type
The passenger car market is predicted to grow substantially from 2015 to 2019. During this period, the passenger car segment is expected to grow well beyond $90 million. Moreover, the global automotive market is expected to boost growth in the ABS market with a large scale demand emerging from APAC countries such as China, India, and Japan.
Key regions for the automotive ABS market
High demand for automobiles from the APAC region resulted has resulted in the prominent rise of many regional players in this region. Some of the major manufacturers of brakes in this market include Aisin Seiki, Akebono, and Nissin Kogyo. The APAC led the automotive ABS market in 2014, and the trend is expected to continue until 2019.
Though, in terms of vehicle production, the US ranks higher, the EMEA region accounts for the second largest share of the ABS market.
Other sections of the report include an analysis of the following
The average value of safety components for automobiles in China and India
Growth percentage of the global automotive market
Key drivers, challenges, and trends and their impact on the automotive ABS market
Five forces analysis of the automotive ABS market
SWOT analysis of the leading companies in the automotive ABS market
Global Automotive Steering System Market 2015-2019
Automotive Connector Market in Europe 2015-2019
Automotive Gasoline Direct Injection (GDI) System Market in Europe 2015-2019
Automotive Refinish Coatings Market in APAC 2015-2019