A recent research report delivered by Future Market Insights (FMI) has projected the global automotive ABS and ESC market size to exhibit an undulating expansion over the forecast period, 2022 to 2029. Global sales of automotive ABS and ESC has been estimated to surpass US$ 100 Billion in revenues by 2029 end.
Compact Vehicles to Account for Nearly One-Third Market Revenue Share throughout the Forecast Period
Sales of automotive ABS and ESC are forecast to register the fastest expansion in compact vehicles, followed by light commercial vehicles and heavy commercial vehicles. Nearly one third revenue share of the market is projected to be accounted by automotive ABS and ESC sales in compact vehicles throughout the forecast period. In addition, sales of automotive ABS and ESC in mid-sized vehicles are also projected to record a robust expansion through 2022.
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The automotive industry is currently being propelled by hi-tech innovation, being more inclined toward adoption of advanced technologies for reducing crashes and mitigating impact of accidents on passengers. Automotive safety systems, such as ABS and ESC, are therefore gaining immense traction among consumers across the globe. Leading manufacturers of ABS and ESC systems are adopting strategic approaches such as mergers & acquisitions and new product launches, with an aim of expanding their product line and maintaining their instrumental position in the market.
Europe and North America – Most Lucrative Markets for Automotive ABS and ESC
In regions such as Europe and North America, automotive ABS and ESC systems have a high penetration rate and are well established. In terms of revenues, Europe and North America will continue to be the most lucrative market for automotive ABS and ESC. The market in North America is projected to register the highest CAGR through 2022.
Asia-Pacific excluding Japan (APEJ) is also expected to be a major lucrative market for automotive ABS and ESC, with revenues estimated to exceed US$ 25,000 Million in revenues by 2022-end. Growth of the automotive ABS and ESC market in APEJ can be highly attributed to increasing consumer preferences for better safety systems in vehicles, along with the introduction of legislation & policy framework that mandates integration of safety equipment in vehicles.
OEMs to Account for Over 90% Revenue Share of Global Automotive ABS and ESC Market during 2017 to 2022
Automotive braking systems with improved vehicle safety and requirement of minimum maintenance, such as the ABS and ESC, introduced by OEMs have created the breakthrough developments in the market. OEMs will account for over 90% revenue share of the automotive ABS and ESC market during 2017 to 2022.
Whether in light of outlaw status of ABS and ESC, or street market liability concerns in most of the vehicles, aftermarket has failed so far in developing even a basic ABS or ESC system. However, sales of ABS and ESC systems in aftermarket are projected to register an above-average expansion through 2022, although estimated to account for a very low revenue share of the market over the forecast period.
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Market Taxonomy
Region
- North America
- Latin America
- Europe
- Japan
- APEJ
- MEA
Technology Type
- Three Channel ABS
- Four Channel ABS
- ESC
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Vehicle Type
- Compact Vehicle
- Mid-Sized Vehicle
- Premium Vehicle
- Luxury Vehicle
- Commercial Vehicle
- Heavy Commercial Vehicle
Sales Channel
- OEM
- Aftermarket
ESC technology in the global automotive ABS and ESC market will remain preferred among consumers. Revenues from sales of ESC technology in vehicles are forecast to account for nearly one-fourth share of the market in 2017. Demand for ESC technology will further witness an upsurge over the forecast period. The largest revenue share of the market has been anticipated to be accounted by three channel ABS technology, with sales poised to expand at approximately 10% CAGR through 2022. Sales of four channel ABS technology will continue to witness a relatively slower expansion than three channel ABS and ESC technology segments through 2022.
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.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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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