PORTLAND, ORAGON, USA, September 1, 2022 /EINPresswire.com/ — The Global Anti-lock braking system the market size was valued at USD 37.69 Billion in 2018 and is projected to reach USD 80.65 Billion by 2026, registering a CAGR of 9.6% from 2019 to 2026. Asia Pacific accounted for the highest in 2018 and is expected to maintain its lead throughout the anti-lock brake system market forecast.
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The factors such as growing demand for safety devices, technological advancements in the automotive industry, and increasing government mandates for vehicle safety are driving the growth of the anti-lock braking system market. Additionally, high maintenance and installation costs are expected to hamper the market growth. However, the development of advanced braking system for two-wheelers along with the expansion of the untapped market in developing countries is expected to provide lucrative opportunities for major market players over the forecast period.
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The global ABS market is segmented on the basis of subsystem type, vehicle type and region. Based on subsystem type, the market is divided into sensors, electrical control unit, and hydraulic unit. By type of vehicle, it is classified into two-wheelers, passenger cars and commercial vehicles. Based on the region, it is analyzed across North America, Europe, Asia-Pacific and LAMEA.
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Major players including 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 and others hold the largest share of the anti-lock brake system industry.
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Key Benefits for Anti-lock Braking System Market:
This study presents the analytical description of the global Anti-lock Braking System market analysis along with current trends and future estimations to depict the impending pockets of investment.
The overall Anti-lock Braking System market opportunity is determined by understanding profitable trends to gain a stronger foothold.
The report presents information related to the major drivers, restraints and opportunities of the global anti-lock braking systems market with detailed impact analysis.
The current ABS market is quantitatively analyzed from 2019 to 2026 to assess financial competence.
Porter’s five forces analysis illustrates the power of buyers and suppliers in the industry.
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