An Anti-Lock Braking System (ABS) is a vehicle security framework that permits the wheels on an engine vehicle to keep up tractive contact with the road surface to prevent the wheels from locking up and to avoid uncontrolled skidding and decrease the distance travelled without slipping.

The major components of ABS are: Speed Sensors, Valves, Electronic Control Unit and Hydraulic Control Unit. Global ABS Market is expected to grow at a CAGR of over 6% over the next five years, on the back of rise in the number of on-road vehicles, increasing focus on vehicle safety and technological advancements.

Major players operating globally in ABS are Autoliv Inc., ZF TRW Automotive, Robert Bosch GmbH, Denso Corporation, Continental AG., WABCO, Akebono Brake Industry Co. Ltd., Halla Mando Corp., Hitachi Automotive Systems, Ltd. etc.

Antilock Braking System (ABS) is utilized as a part of cutting edge vehicles to anticipate slip and bolting of wheel after brakes connected. It is a vehicle security framework and the controller is given to control the vital torque to keep up ideal slip proportion.

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What drives the ABS Market Globally?

·         Increasing Road Crashes:

According to Association for safe international road travel, every year, more than 1.3 million people die in road crashes that means 3,287 deaths per day on an average. Among these more than half of them are young adults of age group 15-44. Moreover, the association also mentioned that unless necessary action is taken, the road injuries are predicted to became a top leading cause of death by 2030.

The Indian Government has made ABS Mandatory for 2018 for two-wheelers. According to the new mandate, above 125cc two-wheeler must be fitted be ABS. Bosch, the technology giant, is playing a major role in providing solutions to the two-wheeler manufacturers in India.

European Union has already made ABS mandatory for two-wheelers and countries like Japan and Brazil are also planning to introduce the same soon.

This new mandate globally, will allow riders to ride safely. Moreover, these stringent rules of the government for safety will drive the Global ABS market.

·         Increasing Market Size of Luxury Motorcycle is India:

Rising penetration of biking culture among the youth population, coupled with increasing numbers of biking clubs in the country are anticipated to really impact the premium motorcycles market in India. Moreover, growing customer inclination towards joining clubs such as, Harley Davidson “HOG club”, Suzuki’s Biking Lord Club”, etc. and many more private clubs in India is further propelling demand for premium motorcycles in the country. Increasing number of assembling plants of premium motorcycles manufacturers such as, Harley Davidson, Kawasaki and Hyosung, opening in India, has led to declining average selling price, which positively impacted the volume sales of premium or luxury motorcycles in the country over the last few years. The Increasing demand for premium or luxury two-wheelers drives the ABS Market in the country as all the premium bikes are equipped with ABS feature for vehicle and passenger safety.

United States Anti-Lock Braking System Market:

United States Highway Safety Act, educated the National Highway Traffic Safety Administration (NHISA) to promote usage of antilock braking system in vehicles like pickup trucks, passenger cars and vans. Many projects including, New Car Assessment Program (NCAP) granting security evaluations to autos considering their safety performance. Stringent security standards, growing technological advancements and increasing safety awareness among consumers drives the ABS market in the country.

Increasing Vehicle Production and Sales in United States: The booming automobile sector in United States is contributing significantly to the demand for ABS in the country, and is therefore encouraging technology providers to increase their production capacities in the country. Production of light commercial vehicles and buses grew at a robust CAGR in volume terms, during 2012-16. The increasing production of automobiles in the country will generate demand for ABS in the country.

 

In developed countries like United States, high growth rate of automobile industry helps to grow anti-lock braking system market. During 2012-2016, total vehicle sales in the country has witnessed a robust growth with a CAGR of over 4% and the sales of the vehicles in expected to grow over the next five years as well backed by growing population, growing personal vehicle demand by young generation, increasing per capita income. Growing safety awareness, stringent government regulations for safety features, increasing demand and sales of the vehicle drives the ABS market in the country.

Year	2012	2013	2014	2015	2016
Total Vehicle Sales	14785936	15883443	16843464	17845624	17865773

Source: OICA

Conclusion: With Growing technological advancements, the braking system is getting more advanced. To control the vehicle in any type of road condition where advance braking system is required, Anti-lock braking system is required. Anti-lock braking system (ABS) system in vehicles offers several benefits such as stable braking characteristics on all road surfaces, reduced braking distance and reduced tier wear. Global ABS Market is expected to grow at a CAGR of over 6% over the next five years, on the back of increase in the number of on-road vehicles, increasing focus on vehicle safety and technological advancements.