From 2022 to 2032, the worldwide automotive ABS motor market is anticipated to develop at an outstanding 8% 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.
Given the rise of ABS-equipped vehicles, the personal vehicle market segment now retains the top spot in the global automotive ABS motor marketplace. The United States, China, Germany, and India are consistently in the lead when it comes to global automobile sales. During the projection period, they are also expected to dominate the automotive ABS motor sector.
For the creation of new hybrid and electric vehicle models, the ABS braking system is necessary. The global market for automotive ABS motors is projected to be driven by its installation at manufacturing facilities. Due to various nations’ implementation of severe safety legislation and regulations on vehicle manufacturers, including those of China, the United States, and some European nations, the vehicle ABS motor market is also anticipated to expand significantly over the course of the given time.
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The market for automotive ABS motors is primarily driven by the expanding vehicle industry worldwide. However, the tremendous increase in popularity of premium cars and sport utility vehicles (SUVs) in recent years has driven a need for high efficiency. Additionally, it is projected that the demand for the automotive ABS motor market in the Asia Pacific Region would be significantly more profitable for the market players due to the extensive use of automotive ABS motors in modern automobiles as a result of stringent safety requirements.
An automobile with an ABS motor requires much more maintenance. This can restrict the availability of automobile ABS motors, especially in the secondary market, leading to a smaller overall automotive ABS market growth.
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.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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