The increased safety awareness, affordability, technological advancement, as well as the development of institutions such as new car assessment program (NCAP) which award safety rating to cars based on their safety performance are some of the factors, driving the growth of the global automotive anti lock braking system market. The stringent safety government regulations and increased safety awareness in various countries is expected to boost the growth of the global automotive anti-lock braking system market in the near future. Anti-lock-braking system reduces the skidding of vehicles, which occurs when the driver pushes the brake pedal of the vehicle in case of an emergency. The automotive anti-lock braking system allows wheels of a vehicle to maintain dynamic contact with the road surface, according to the braking inputs given by the driver. This prevents the wheels from getting locked up (ceasing rotation), and thus reduces uncontrollable skidding.
The increasing number of deaths caused due to road accidents, especially improper braking sequence, has forced the government in many regions to implement stringent rules and regulations, and deploy ABS in vehicles. Presently, the integration of airbags in two-wheeler vehicles is only mandatory in the developed markets, which is a factor hindering the growth of the market of automotive anti-lock braking system in the developing countries. In 2014, 32,524 people died, including two wheelers riders and over 1.27 lakh persons were injured in India, due to road accidents. In an attempt to reduce deaths and crashes involving two-wheelers, the road transport ministry of India announced in September 2015 that all the models of two wheelers need to be fitted with combined braking system (CBS) and anti-lock braking system by 2018. Many programs that regulate and control safety requirement for original equipment manufacturers (OEMs) are being established in the emerging countries of MEA and Asia-Pacific, which is anticipated to drive the adoption of automotive anti-lock braking system market in these regions over the next few years. Asia-Pacific accounted for the largest share in the global automotive anti-lock braking system market, due to the large automotive production volume in this region. North America and Middle East & Africa held the second and third place in the global automotive ABS market. China and India are the major automotive producing countries, which are driving the growth of the automotive anti-lock braking system market in Asia-Pacific.
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Wabco Holdings developed the first anti-lock breaking system for the automobile industry in 1981. In the coming years, the increased demand for luxury cars from European and Asia-Pacific countries, mainly China, India, and Japan, is expected to drive the growth of the global market. Robert Bosch GmbH, Delphi Automotive LLP, Continental AG, Hyundai Mobis Ltd., Autoliv Inc., DENSO CORPORATION, TRW Automotive Inc. are some of the competitors in the global automotive anti-lock braking system market.
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