Asia-Pacific Automotive Anti-Lock Braking System Market

APAC Automotive Anti-Lock Braking System Market Analysis

The Asia-Pacific Automotive Anti-Lock Braking System Market is expected to register a CAGR of greater than 7% during the forecast period.

• Nowadays, Anti-lock braking system (ABS) is used in almost every modern car. It automatically provides optimum braking force and avoids of lockup of wheels. Anti-Lock Braking System helps control the direction of the vehicle due to a spin-out or plow out, resulting in a complete loss of steering control. It significantly reduces the risk of being in a rollover, which is one of the most dangerous types of single-vehicle crashes.
• In 2019, 1.35 million people lost their lives in road traffic crashes worldwide, with 90% of causalities belonging to developing countries. Also, most of these developing countries are mainly situated in the Asia Pacific. As a result, emerging markets such as India will become the largest ABS market in the future, which is expected to drive the market.
• However, ABS in 2-wheelers, especially in cost-conscious markets, sometimes offers a single channel with only a front-wheel with an ABS. Also, entry-level cars aren't offering ABS with a higher safety system. However, with emerging technologies and growing government policies, entry-level and 2- wheelers will see a higher adoption towards ABS systems since results have shown that even a lower ABAS equipped system may increase braking distances.

APAC Automotive Anti-Lock Braking System Market Trends

Autonomous Emergency Braking System Poised to Drive Market Growth

For four wheelers, research indicates ABS is quite useful, reducing the overall crash-involvement rate by 6% in passenger cars and by 8% in LTVs for non-fatal crashes, which is statistically significant.

In 2-wheelers, 93% of motorcycle falls worldwide could have been avoided or the severity of the accident might have been less. Also, reducing fatal and severe injuries to motorcycle drivers by 8 to 10% suggests that ABS might reduce the number of crash victims especially on wet pavements, improving overall vehicle stability during braking, preserving the ability to steer, and reducing stopping distances on surfaces

Earlier, LIDAR sensors of camera systems were only able to detect cars and only able to autonomously brake sufficiently to avoid a collision with a relative velocity of around 15 kph and termed as “City-AEB” or “low-speed AEB. However, with growing advancements in the ABS market, object recognition of more modern systems now includes PTWs, pedestrians, and cyclists who can operate faster. They can, therefore, detect obstacles at higher travel speeds. Thus, the Autonomous Emergency Braking System could drive the future growth of the market.

India Expected to Witness the Fastest Growth in the Asia-Pacific market

In 2019, India sold a total of 21.18 million two-wheelers. It has now surpassed China and is the largest market for two-wheelers. Also, most of these 2-wheelers are sold to a cost-conscious market. However, with ABS technology becoming more affordable and government mandating automakers to install an ABS without an option not to purchase it, the market will experience higher growth.

In late 2019, the Road transport ministry of India has already made it mandatory for all cars and mini-buses to install an anti-lock braking system (ABS). Similarly, mandating automakers to fix the ABS in all new vehicles of the existing models from April 2019.

India tops the list for deadly road accidents globally, with 1.51 lakh people killed in 4.67 lakh accidents in 2018. Moreover, 30% of the reported accidents were related to Trucks and buses. 77% of these accidents were due to collision, loss of control, or lane departure. This resulted in India making ABS compulsory on all new models of commercial vehicles starting April next, an endeavor aimed at making the country’s notoriously accident-prone roads safer.

Since seat belts were mandatory in all cars back in 1990, ABS is the second major safety equipment that India has made compulsory in nearly all vehicles.

APAC Automotive Anti-Lock Braking System Industry Overview

The Asia-Pacific Automotive Anti-Lock Braking System Market is marginally consolidated with major players such as Robert Bosch GmbH, Autoliv Inc., Continental AG, DENSO Corporation, and ZF Friedrichshafen AG. As the demand for ABS is growing in the region, the OEM manufacturers are trying to have the edge over its competitors by making joint-ventures, partnerships, launching new products with advanced technology.

For instance, Maruti Suzuki, Inida's largest automobile company has partnered with companies and has introduced safety equipment comprising dual airbags with ABS and EBD (electronic brakeforce distribution) option across all variants of its models.

APAC Automotive Anti-Lock Braking System Market Leaders