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Anti-Lock Braking System (ABS) Market Trends and Drivers:
The market's growth stems primarily from increased demand for anti-lock braking systems (ABS) driven by a global surge in road accidents. Additionally, rising safety concerns and awareness about ABS benefits, such as shorter braking distances and compatibility with various road surfaces, fuel this growth. Furthermore, the development of advanced braking systems tailored for two-wheelers, like modular and scalable ABS, further propels market expansion across different bike segments. Moreover, stringent safety regulations imposed by governments and initiatives promoting vehicle safety amplify product adoption rates. Notably, organizations like the Insurance Institute of Highway Safety and the New Car Assessment Program have heightened safety protocols, driving market growth. For example, under Regulation (EU) No 168/2013, motorcycles in the L3e-A1 category are mandated to have ABS or combined braking systems, stimulating market demand. ABS adoption rates vary across regions, with Asia-Pacific emerging as a significant market due to increased accidents and a burgeoning automotive sector. Additionally, the industry faces impending competition as key players implement competitive strategies to maintain market presence. For instance, ZF unveiled its Commercial Vehicle Solutions at TMC 2022, showcasing advanced driver assistance systems, pneumatic and hydraulic ABS, and steering solutions for heavy-duty trucking applications.
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Component Type:
- Speed Sensors
- Electronic Control Units (ECU)
- Hydraulic Units
Breakup by Vehicle Type:
- Two Wheelers
- Passenger Cars
- Commercial Vehicles
Breakup by Vehicle Type:
- Two Wheelers
- Passenger Cars
- Commercial Vehicles
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- Advics Co. Ltd.
- Aisin Seiki
- Continental AG
- Denso Corporation
- Hitachi Automotive System Ltd
- Mando Corporation
- Robert Bosch GmbH
- Wabco Ltd.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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