Global Automotive ABS Market
The GMI Research envisages an accelerating growth in the Automotive Anti-Lock Braking System Market over the forecast period. This is because of the ongoing technological innovations in the automotive sector and growing obligations for vehicle safety.
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Automotive ABS Market Dynamics
The strategic norms and policies enforced by the government and increasing agitation towards safety among individuals are the major forces supplementing the growth of the global Automotive Anti-Lock Braking System Market. Further, the security norms that are continuously being supervised by various government bodies and the automobile producers have driven the growth of the global automotive anti-lock braking system. Additionally, the remarkable surge in the number of vehicles and the acceleration in the population and per-capita income has led to opt for better vigour solutions in terms of the desired vehicles. With an aim to decrease deaths and collapses, several government entities have introduced norms to certify road security. For example, European Union mandated the installation of ABS in two-wheelers. Also, the government of India, through a variation in the Motor Vehicle Act in 2017, has obligated ABS for all latest models of commercial vehicles. However, the inflated cost of raw material and high maintenance cost over traditional braking systems will restrain the Automotive Anti-Lock Braking System Market size. Also, an automobile lodged with ABS system may loose its control if driven at a very fast speed.
Automotive ABS Market Segmentation:
Segmentation by Components
• Speed Sensors
• Valves
• Pump
• Controller
Segmentation by Vehicle Type
• Two-wheeler
• Four-Wheeler
• Commercial Vehicle
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