Accelerating Growth: Forecasting the Global Automotive ABS and ESC Market Expansion

The global automotive ABS and ESC market is poised for significant growth, with a projected compound annual growth rate (CAGR) of 11.2% from 2023 to 2033. The market size for anti-lock braking system (ABS) and electronic stability control (ESC) is expected to surge from US$ 1,407.80 million in 2023 to US$ 4,069.95 million by 2033.

This growth is primarily driven by several key factors. Firstly, the increasing public awareness of the safety benefits provided by ABS and ESC systems is driving adoption, leading to higher demand for vehicles equipped with these features. Moreover, the expanding automotive industry, particularly in emerging economies, is contributing to the rising demand for ABS and ESC technologies as manufacturers prioritize vehicle safety to meet regulatory requirements and consumer preferences. As more vehicles are produced globally, the need for safety features like ABS and ESC becomes increasingly crucial, further bolstering market growth. Overall, these trends underscore the pivotal role of ABS and ESC systems in enhancing vehicle safety and stability, driving their widespread adoption across the automotive industry.

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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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