ABS improves stability and traction control of the vehicle while significantly reducing the risks of skidding, especially in slippery conditions. This provides high-end safety features to the consumers at an affordable price, which, in turn, is escalating the demand for ABS. Along with this, the rising number of road accidents has compelled the governments of various countries to implement mandatory standards for people to equip their vehicles with an ABS to improve stability, control, and safety aspects of the car. The growing awareness about the benefits of ABS, several technological advancements in the automotive industry, and increasing consumer safety concerns are some of the other factors that are expected to bolster the growth of the market in the coming years.
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Insights on Market Segmentation:
Breakup by Component Type:
- Speed Sensor
- Electronic Control Units (ECU)
- Hydraulic Units
- Two Whelers
- Passenger Cars
- Commercial Vehicles
- OEM
- Replacement Demand
Breakup by Region:
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East and Africa
The competitive landscape of the industry has also been examined with some of the key players being Advics Co. Ltd., Aisin Seiki, Denso Corporation, Hitachi Automotive System Ltd, Mando Corporation, Robert Bosch GmbH, Wabco Ltd, etc.
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