From 2022 to 2032, the worldwide automotive ABS motor market is anticipated to develop at an outstanding 9% CAGR. From its present valuation of US$ 4.5 Billion in 2022, the automotive ABS motor service market is projected to grow to a size of about US$ 16 Billion by 2032.
Due to a growth in the number of vehicles having ABS, the personal vehicle market sector now occupies the top spot in the global automotive ABS motor market. The United States, China, Germany, and India consistently hold the top ranks in terms of global auto sales. During the predicted time span, they are expected to dominate the automotive ABS motor sector.
For the new hybrid and electric vehicle types, the ABS braking system is necessary. It’s projected that the installation of automobile ABS motors in production plants would enhance demand for these parts worldwide. It is also anticipated that the market for automobile ABS motors will expand significantly in the ensuing years as a result of several countries, including China, the United States, and some other European nations, establishing harsh restrictions on the use of vehicle ABS safety legislation and regulations on the industry.
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The expansion of the global car industry is the main factor driving the market for automotive ABS motors. But the demand for greater efficiency has grown in recent years along with the popularity of premium cars and sport utility vehicles (SUVs). It is also projected that the market for automotive ABS motors in the Asia Pacific Region would be significantly more profitable for industry participants due to the extensive use of automotive ABS motors in modern cars as a result of strict safety requirements.
An automobile with an ABS motor needs maintenance much more frequently. Because of this, it’s possible that the supply of automobile ABS motors, particularly on the secondary market, would be limited, which might prevent the growth of the automotive ABS industry as a whole.
Key Takeaways from Automotive ABS Motor Market Study
- The overall growth of the global automotive ABS motormarket is estimated to be around US$ 11.5 Billion over the forecast years through 2032, by experiencing the astounding CAGR of 13.5%.
- According to FMI, through 2022 to 2032, North America is expected to experience the highest growth rate in the sales of automotive ABS motor in the global market.
- Even during projected period of 2022-2032, Western Europe is predicted to become a particularly opportunistic marketplace for automobile ABS motors, according to FMI survey.
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Competitive Landscape for the Automotive ABS Motor Market
Some of the well-known contact centre as a service market players are LG Innotek, Mahle, Johnson Electric Holdings Limited, Continental AG, Parker Hannifin Corporation, and Denso Manufacturing Italia S. P. A. among others.
Major manufacturers of conventional and electric cars have recently expanded their product lines with fitted ABS, which is expected to boost the demand for automotive ABS motors as per speculations.
Key Segments Profiled in the Automotive ABS Motor Market Survey
By Vehicle Type:
- Passenger Car
- Mid-Size
- Compact
- Luxury
- SUVs
- Light Commercial Vehicle (LCV)
- Heavy Commercial Vehicle (HCV)
- Electric And Hybrid Vehicle
By ABS Type:
- One Channel, One Channel Type ABS
- Two Channel, Four Sensor Type ABS
- Three Channel, Three Sensors Type ABS
- Four Channel, Four Sensor Type ABS
- Three Channel, Four Sensor Type ABS
By Sales Channel:
- Original Equipment Manufacturers (OEMs)
- Aftermarket
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- APEJ
- Japan
- Middle East and Africa
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Recent Developments in the Global Automotive ABS Motor Market:
In addition to hybrid and gasoline engines engine variants with cutting-edge ABS-EBD stopping or braking technology, BMW, that is a German multinational premium car company, made an announcement of the BMW 7 Series in this year, 2022. It is predicted that several new car releases equipped with ABS systems would increase demand for automotive ABS motors in Western Europe.
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