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 the rise in the number of cars having ABS, the personal vehicle market segment now occupies the top spot in the global automotive ABS motor market. The United States, China, Germany, and India consistently take the lead in terms of global auto sales. During the projected period, they are also expected to dominate the automotive ABS motor market.
The new hybrid and electric automobile types need the ABS braking system. The installation of automotive ABS motors in production facilities is predicted to expand the global demand for these parts. Additionally, it is anticipated that the vehicle ABS motor market would expand quickly over the coming years as a result of various countries, including China, the United States, and some European nations, placing severe safety legislation and regulations on the industry.
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The market for automotive ABS motors is primarily being driven by the growth of the global auto sector. But in recent years, the need for more efficiency has increased along with the appeal of luxury cars and sport utility vehicles (SUVs). Due to the widespread use of automotive ABS motors in contemporary cars as a result of stringent safety requirements, it is also anticipated that the demand for automotive ABS motors in the Asia Pacific Region would be much more profitable for industry players.
An automobile with an ABS motor requires far more frequent maintenance. As a result, the availability of automobile ABS motors, particularly on the secondary market, may be constrained, which could impede the expansion of the automotive ABS sector 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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