Anti-Lock Braking System (ABS) Market to Reach USD 49 Bn by 2024, Says Variant Market Research in Its New Report Available at MarketPublishers.com20 Jul 2017 • by Natalie Aster
LONDON – Anti-lock braking system (ABS) is used to assist vehicles in safer braking and also helps to retain steering control in emergency situations, for instance, slippery or wet road. Stringent safety norms together with regulations implemented by different transport authorities, and rising consumer awareness of safety features in autos, are encouraging growth in the world market.
Between 2017 and 2024, the world’s ABS market is expected to enjoy healthy growth at an 8.1% CAGR to reach the value of USD 49 billion by the end of the forecast period. Some of the important market growth drivers include escalating demand for safety features in vehicles and ongoing technological advancements in the automobile industry.
Meantime, certain factors, for example, high maintenance cost, could restrain the further growth in the ABS market in the coming years.
Continued expansion to untapped markets of developing countries like Brazil and Indonesia and introduction and development of advanced ABS for two-wheelers are likely to open new attractive business opportunities for the market players in the offing.
The new topical report “Anti-Lock Braking System (ABS) Market (By Sub-Systems Type, By Vehicle Type, By Geography) Global Scenario, Market Size, Outlook, Trend and Forecast, 2015-2024” worked out by Variant Market Research gives an unbiased, detailed analysis of the global ABS market with respect to the main segments (on the basis of sub-systems types, vehicle types and geography) as well as covers the historical, present and forecast market performance at different geographical levels. This study highlights the market dynamics, reviews the major growth influencing forces, delves into the competitive landscape, and discloses data on the market shares and growth rates. Besides, comprehensive profiles of the dominant companies active in the ABS market are at hand in the study. A future market outlook through 2024 is also available.
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