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Growth Factors and Dynamics of Automotive ABS and ESC Market
- The demand for sophisticated safety features in vehicles has increased due to consumers’ growing knowledge of safety issues. The automotive ABS and ESC market is growing because anti-lock braking system and electronic stability control systems are crucial for averting collisions and retaining emergency control.
- The widespread implementation of anti-lock braking system and electronic stability control systems in automobiles is prompted by the strict safety laws enforced by numerous governments and regulatory agencies globally. The requirement for these safety measures is mandated by these rules, which increases demand for automobiles.
- The automotive anti-lock braking system and electronic stability control (ESC) technology market has benefited from the growing popularity of electric cars. To ensure safety in tandem with the advent of EVs, automotive ABS and ESC manufacturers implement safety elements to meet the special characteristics of electric drivetrains.
- Since anti-lock braking system and electronic stability control systems have been shown to improve safety, insurance firms frequently give reduced rates for cars with these features. This incentivizes vehicle owners to buy automobiles with these technologies, increasing the electronic stability control (ESC) technology market growth.
Challenges in the Automotive ABS and ESC Industry
The main hurdle facing the market is rising costs during the designing and testing stages and the high cost of the raw materials used to manufacture automotive ABS and ESC. These factors may hinder the automotive ABS and ESC market from expanding during the projected period.
Regional Outlook
When it comes to market share, Europe rules the automotive ABS and ESC market. This is because more cars are being sold in this region and advanced technology has been introduced.
North America is anticipated to develop rapidly because of the automotive market growth and modern technology’s adoption.
One of the markets with enormous growth is Asia Pacific. The demand for anti-lock braking systems (ABS) is rising due to stringent traffic laws requiring ABS on all new automobiles.
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Competitive Landscape
The automotive ABS and ESC businesses are forming alliances, making strategic investments, and purchasing important technologies. The anti-lock braking and stability control systems used in practically all passenger cars is another factor fuelling the market expansion for automotive ABS and ESC.
Vital Automotive ABS and ESC Manufacturers
- Robert Bosch GmbH
- Continental AG
- ZF Friedrichshafen AG
- Denso Corporation
- Aisin Seiki Co. Ltd
- Autoliv Inc.
- WABCO Holdings Inc.
- Hyundai Mobis Co. Ltd.
- Bendix Commercial Vehicle Systems LLC
- Delphi Technologies
- Others
Key Segments
By Technology Type:
- Three Channel ABS
- Four Channel ABS
- ESC
By Vehicle Type:
- Compact Vehicle
- Mid-Sized Vehicle
- Premium Vehicle
- Luxury Vehicle
- Commercial Vehicle
- Heavy Commercial Vehicle
By Sales Channel:
- OEM
- Aftermarket
By Region:
- North America
- Latin America
- Europe
- Japan
- Asia Pacific
- Middle East Asia
Author
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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