Based on data by Persistence Market Research this report on ‘Anti Lock Braking Electronic Stability Control System Market’ delivers a succinct analysis on industry size, regional growth and revenue forecasts for the upcoming years. The report further sheds light on significant challenges and latest growth strategies adopted by manufacturers who are a part of the competitive spectrum of this business domain.
Anti lock braking system and electronic stability control system is an automobile security system that allows the wheels on a motor vehicle to maintain strong contact with the road surface. These system works according to driver inputs during braking, avoiding uncontrolled skidding and preventing the wheels from locking up. Anti lock braking and electronic stability control system uses the principles of cadence braking and threshold braking. Major anti lock braking component are valves, speed sensors, pump, and controller.
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Some of the major companies operating in global anti lock breaking system and electronic stability control systems are ADVICS, APG, Robert Bosch GmbH, BWI Group, Beijing Automotive Research Institute, Continental AG, DETC, Haldex, Hitachi Automotive, Ltd., Jiaozuo Brake, Junen, Kemi, Knorr, MANDO, NISSIN, Delphi Automotive Plc, Sivco, TRW, WABCO, Zhejiang VIE, Zhejiang Wangxiang and Zhengchang Electronic.
Anti lock braking system and electronic stability control system improve the vehicle control, decreases stopping distances on dry and slippery surfaces and prevent the vehicles from accident in emergency condition. However, in case of loose surfaces such as gravel and snow-covered pavement, theses system may increase the stopping distance.
Highway safety act in the U.S instructed the National Highway Traffic Safety Administration (NHISA) to consider requiring anti lock braking and electronic stability control system in passenger vehicles such as cars, pickup trucks, sport utility vehicles and vans. Many programs including, New Car Assessment Program (NCAP) awarding safety ratings to cars based on their safety performance. Growing technological advancement, stringent safety norms and increasing safety awareness are some key reason, which drives the anti lock braking system and electronic stability control system market.
In developed countries of North America, including the U.S and Mexico, high growth rate of automobile industry helps to grow anti lock braking system and electronic stability control system market. Asia Pacific is considers to the fastest growing market. Increasing demand of luxury cars in the Europe and Asia Pacific countries, mainly in China, India and Japan creates high demand of anti lock braking system and electronic stability control system. Growth of these systems in the market also depends on the various government legislations in vehicles safety at national and international level.