The latest report on Automotive Anti-Lock Braking System Market by Infinium Global Research gives complete coverage of the Automotive Anti-Lock Braking System Market by in terms of key trends, market size, forecast and CAGR growth over the period of 2019 to 2025. In addition, the study covers deep dive into key product and applications trends in the regional markets of Automotive Anti-Lock Braking System such as North America, Europe, Asia-Pacific and Latin America over the short run and long run.
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The Strict Safety Norms Set by the Government is the Major Factor Driving the Automotive Anti-Lock Braking System Industry
The vehicle components play an important role in the performance as well as the safety of the vehicle, passengers and traffic. Some of the components are made mandatory by the government for safety regulations. Anti-lock brakes are one of the vehicle components that ensures safety as well as better performance of the vehicles.
The anti-lock braking system helps the vehicles to slowly reduce the speed compared to the conventional brakes which get a lock when applied suddenly. The anti-lock braking system market is highly competitive and consolidated in nature. Only a few major players in the market control a large part of the market share. The key players in the market are investing more on broadening the product portfolio that serves a wide variety of customers and their demands.
The strict safety norms set by the government is the major factor driving the automotive anti-lock braking system market. To reduce the number of causalities due to accidents the governments are implying strict regulations, which requires the automakers to integrate the anti-lock braking system in the vehicles. Moreover, the increasing number of road accidents is another factor that escalates the growth of the automotive anti-lock braking system market. Furthermore, a number of programs for awarding safety ratings to the vehicles contribute to the growing demand for the automotive anti-lock braking system.
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Number of Programs for Awarding Safety Ratings to the Vehicles Contribute to the Growing Demand for the Automotive Anti-Lock Braking System
Programs such as the New Car Assessment Program (NCAP) rates the vehicles based on their safety features. To acquire the best ratings the vehicle manufacturers are adopting the anti-lock braking system. However, the fluctuation in prices of raw material is anticipated to hamper the growth of the automotive anti-lock braking system. Additionally, improving legislation in developing countries is predicted to provide beneficial growth opportunities for the players in the automotive anti-lock braking system market.
Asia-Pacific holds the dominant share in the global automotive anti-lock braking system market. The growing automotive sales coupled with the growing demand for high tech safety features are contributing to the growth of the Asia Pacific automotive anti-lock braking system market. China has the biggest fleet of motor vehicles globally, with 332 million motor vehicles in 2018 including 235 million cars.
Furthermore, the increase in road safety rules by the government, which obligates the vehicles to integrate ABS also favors the growth of the Asia Pacific automotive anti-lock braking system market. North America is anticipated to hold a significant share owing to the stringent safety regulations, increased rate of adoption of new technologies and large automotive consumption in this region.
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- Comprehensive analysis of global as well as regional markets of the Automotive Anti-Lock Braking System.
- Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2025.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.