Anti-lock Braking System Market to Reach $80.65 Bn, Globally, by 2026 at 9.6% CAGR: Allied Market Research

PORTLAND, Oregon, Oct. 29, 2019 /PRNewswire/ -- Allied Market Research published a report, titled, "Anti-lock Braking System Market by Sub-System (Sensors, Electronic Control Unit (ECU), and Hydraulic Unit) and Vehicle Type (Two-Wheeler, Passenger Car, and Commercial Vehicles): Global Opportunity Analysis and Industry Forecast, 2019–2026." According to the report, the global anti-lock braking system market garnered $37.69 billion in 2018, and is expected to generate $80.65 billion by 2026, growing at a CAGR of 9.6% from 2019 to 2026.

Prime determinants of market growth

Rise in demand for safety features, technological advancements, and increase in government mandates for vehicle safety drive the growth of the global anti-lock braking system market. However, high cost of maintenance and installation hinders the market growth. On the other hand, untapped potential in developing countries and development of advanced braking systems create new opportunities in the market.

Electronic control unit (ECU) segment to maintain its lead position by 2026

Based on subsystem, the electronic control unit (ECU) segment accounted for the highest share in the global anti-lock braking system market in 2018, accounting for nearly three-fifths of the total share, and is estimated to maintain its lead position throughout the forecast period. This is due to its role as the brain of the anti-lock braking system and ability to control various systems in the vehicle. However, the sensors segment would grow at the highest rate with a CAGR of 11.9% from 2019 to 2026, owing to its real-time monitoring of speed of vehicle along with identification of the acceleration and deceleration of wheels and transmission of this data to the electronic control unit (ECU).

Get Sample Report for More [email protected] https://www.alliedmarketresearch.com/request-sample/1609

Passenger cars segment to maintain its highest contribution during the forecast period

On the basis of vehicle type, the passenger cars segment held more than three-fifths of the total market share of the global anti-lock braking system market in 2018, and will maintain its highest contribution by 2026. This is due to strict regulations by the government for anti-lock braking systems and technological advancements in safety features. Contrarily, the two-wheeler segment is expected to grow at the highest CAGR of 11.7% from 2019 to 2026, owing to the government mandates for adopting anti-lock braking systems and surge in demand for safety features in two-wheelers.

Asia-Pacific to maintain its leadership position by 2026, North America to follow

Based on region, Asia-Pacific accounted for the largest share, contributing for more than two-fifths of the global abs market in 2018, and will maintain its leadership position during the forecast period. This is due to stringent government regulations for safety features and rise in awareness regarding active safety systems. North America garnered the second position in terms of revenue in 2018. On the other hand, LAMEA is expected to grow at the highest CAGR of 12.0% from 2019 to 2026. This is due to significant rise in rate of road accidents and adoption of European standards by countries in the region.

Inquire more about this report @ https://www.alliedmarketresearch.com/purchase-enquiry/1609

Leading Market Players

• Advics Co., Ltd.
• Autoliv Inc.
• Continental AG
• Denso Corporation
• Hitachi Automotive Systems Ltd.
• Hyundai Mobis Co., Ltd.
• Nissin Kogyo Co., Ltd.
• Robert Bosch GmbH
• WABCO
• ZF TRW

Access KNOWLEDGE TREE (Premium on-demand, subscription-based pricing model) at: https://www.alliedmarketresearch.com/knowledgetree

Knowledge tree is a cloud-based intelligence platform that offers more than 2,000 selective, off-the-shelf reports on niche markets to enable our clients gain deep insights on the latest trends, dynamic technologies, and emerging application areas.

Similar Reports:

In-Car Infotainment Market is Expected to Reach $33.8 Billion by 2022

Automotive Axle & Propeller Shaft Market to Reach $268 billion by 2022

Forklift Truck Market Expected to Reach $51 Billion by 2022

Automotive 3D printing Market to Reach $2,730 Million by 2023

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.           

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States       
Toll Free: +1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
[email protected] 
Web: https://www.alliedmarketresearch.com

SOURCE Allied Market Research