Automotive Antilock Braking System And Electronic Stability Control Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

The Business Research Company has updated all its market reports with the latest information for the year 2024, projecting trends and forecasts until 2033

LONDON, GREATER LONDON, UK, August 28, 2024 /EINPresswire.com/ -- The automotive antilock braking system (ABS) and electronic stability control (ESC) market has demonstrated robust growth in recent years. It is set to increase from $52.31 billion in 2023 to $56.37 billion in 2024, reflecting a compound annual growth rate (CAGR) of 7.8%. It will grow to $76.34 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. This growth is driven by rising road traffic accidents, stringent government regulations, increasing vehicle production, and the growing adoption of electric vehicles, alongside urbanization trends.

Rising Rate of Accidents Drives Market Growth
The increasing rate of road accidents significantly contributes to the expansion of the automotive antilock braking system and electronic stability control market. ABS prevents wheel lock-up during braking, enhancing steering control and reducing collision risks, while ESC improves vehicle stability by minimizing skids. The National Highway Traffic Safety Administration reported a 10.5% rise in motor vehicle crash fatalities in May 2022, highlighting the urgent need for advanced safety systems like ABS and ESC.

Explore comprehensive insights into the automotive antilock braking system and electronic stability control market with a detailed sample report:
https://www.thebusinessresearchcompany.com/sample_request?id=16599&type=smp

Key Players and Market Trends
Major companies in the market, including Toyota Motor Corporation, Robert Bosch GmbH, and DENSO Corporation, are focusing on innovative technologies to strengthen their market positions. A notable development is Lippert International Inc.'s introduction of a fully integrated electric anti-lock braking system in October 2022. This system enhances trailer safety with real-time wheel speed monitoring and effective braking control.
In strategic moves, firms are investing in electric braking systems to boost safety, efficiency, and performance. Electric braking systems leverage electronic controls for more effective braking force management compared to traditional hydraulic systems.

Trends Shaping the Future
Key trends influencing the market include:
• Technological Advancements: Progress in braking technologies and the integration of 5G technology.
• Enhanced Sensor Technologies: Development of more precise and reliable sensors.
• Autonomous Vehicles: Rising focus on developing self-driving technologies.
• Proactive Safety Features: Adoption of advanced safety measures to prevent accidents.

Market Segments
• By Technology: Three Channel Antilock Braking System, Four Channel Antilock Braking System, Electronic Stability Control
• By Vehicle Type: Compact Vehicle, Mid-Sized Vehicle, Premium Vehicle, Luxury Vehicle, Commercial Vehicle, Heavy Commercial Vehicle
• By End Use: Original Equipment Manufacturer, Aftermarket

Regional Insights: Europe Leading the Market
Europe was the largest region in the automotive antilock braking system and electronic stability control market in 2023. However, Asia-Pacific is anticipated to be the fastest-growing region in the forecast period, driven by increasing vehicle production and adoption of advanced safety technologies.

Explore the report store to make a direct purchase of the report
https://www.thebusinessresearchcompany.com/report/automotive-antilock-braking-system-and-electronic-stability-control-global-market-report

Automotive Antilock Braking System And Electronic Stability Control Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Automotive Antilock Braking System And Electronic Stability Control Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on automotive antilock braking system and electronic stability control market size, automotive antilock braking system and electronic stability control market drivers and trends, automotive antilock braking system and electronic stability control market major players, competitors' revenues, market positioning, and market growth across geographies. The automotive antilock braking system and electronic stability control market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

Browse Through More Similar Reports By The Business Research Company:
Air Brake System Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/air-brake-system-global-market-report

Automotive Carbon Ceramic Brake Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/automotive-carbon-ceramic-brake-global-market-report

Automotive Glazing Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/automotive-glazing-global-market-report

About The Business Research Company
The Business Research Company has published over 15000+ reports in 27 industries, spanning 60+ geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

Global Market Model – Market Intelligence Database
The Global Market Model, The Business Research Company’s flagship product, is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets that help its users assess supply-demand gaps.

Contact Information
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 8897263534
Americas: +1 315 623 0293

Oliver Guirdham
The Business Research Company
+44 20 7193 0708
info@tbrc.info
Visit us on social media:
Facebook
X
LinkedIn

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.