PORTLAND, ORAGON, UNITED STATES, September 1, 2022 /EINPresswire.com/ — The global anti-lock braking system market size was valued at $37.69 billion in 2018 and is projected to reach $80.65 billion by 2026, registering a CAGR of 9.6% from 2019 to 2026. Asia-Pacific accounted for the highest share in 2018 and is anticipated to maintain its lead throughout the anti-lock braking system market forecast.
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The factors such as growth in demand for safety features, technological advancements in automotive industry, and increase in government mandates for vehicle safety drive the growth of the anti-lock braking system market. Moreover, high maintenance and installation cost is expected to hinder the market growth. However, development of advanced braking system for two wheelers along with the expansion in untapped market of developing countries is anticipated to provide lucrative opportunities for the key market players during the forecast period.
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The global ABS market is segment based on sub-system type, vehicle type, and region. Based on sub-system type, the market is divided into sensors, electric control unit, and hydraulic unit. By vehicle type, it is categorized into two wheelers, passenger cars, and commercial vehicles. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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The key 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 braking system industry.
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Key Benefits for Anti-lock Braking System Market:
This study presents the analytical depiction of the global anti-lock braking system market analysis along with the current trends and future estimations to depict the imminent investment pockets.
The overall anti-lock braking systems market opportunity is determined by understanding the profitable trends to gain a stronger foothold.
The report presents information related to the key drivers, restraints, and opportunities of the global anti-lock braking systems market with a detailed impact analysis.
The current ABS market is quantitatively analyzed from 2019 to 2026 to benchmark the financial competency.
Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.
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