The global automotive ABS motor market is projected to experience substantial growth at a rate of 8.5% from 2022 to 2032. The market, valued at approximately USD 4.5 billion in 2022, is expected to reach around USD 16 billion by 2032.
The personal vehicle sector dominates the automotive ABS motor market due to the increasing number of cars equipped with ABS systems. Leading automotive markets such as the United States, China, Germany, and India are anticipated to remain at the forefront of this industry throughout the forecast period, driven by high car sales.
The demand for ABS braking systems is being driven by the need for new models of hybrid and electric vehicles, as well as by the installation of these systems at manufacturing facilities. Additionally, the implementation of stringent safety regulations in countries like China, the United States, and several European nations is expected to significantly boost the market for automotive ABS motors.
The overall growth of the automotive sector is the primary driver for the automotive ABS motor market. The increasing adoption of high-efficiency vehicles, including sport utility vehicles (SUVs) and luxury cars, is contributing to this growth. Moreover, the widespread use of ABS motors in modern vehicles, driven by stringent safety regulations, is likely to make the Asia-Pacific region a particularly lucrative market for automotive ABS motor manufacturers.
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However, the higher maintenance costs associated with vehicles equipped with ABS motors may limit their use, especially in the secondary market. This could impact the overall growth of the automotive ABS motor market.
Key Takeaways from Automotive ABS Motor Market Study
- The overall growth of the global automotive ABS motormarket is estimated to be around USD 11.5 Billion over the forecast years through 2032, by experiencing the astounding CAGR of 5%.
- According to FMI, through 2022 to 2032, North America is expected to experience the highest growth rate in the sales of automotive ABS motor in the global market.
- Even during projected period of 2022-2032, Western Europe is predicted to become a particularly opportunistic marketplace for automobile ABS motors, according to FMI survey.
Competitive Landscape for the Automotive ABS Motor Market
Some of the well-known contact centre as a service market players are LG Innotek, Mahle, Johnson Electric Holdings Limited, Continental AG, Parker Hannifin Corporation, and Denso Manufacturing Italia S. P. A. among others.
Major manufacturers of conventional and electric cars have recently expanded their product lines with fitted ABS, which is expected to boost the demand for automotive ABS motors as per speculations.
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Key Segments Profiled in the Automotive ABS Motor Market Survey
By Vehicle Type:
- Passenger Car
- Mid-Size
- Compact
- Luxury
- SUVs
- Light Commercial Vehicle (LCV)
- Heavy Commercial Vehicle (HCV)
- Electric And Hybrid Vehicle
By ABS Type:
- One Channel, One Channel Type ABS
- Two Channel, Four Sensor Type ABS
- Three Channel, Three Sensors Type ABS
- Four Channel, Four Sensor Type ABS
- Three Channel, Four Sensor Type ABS
By Sales Channel:
- Original Equipment Manufacturers (OEMs)
- Aftermarket
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- APEJ
- Japan
- Middle East and Africa
Recent Developments in the Global Automotive ABS Motor Market:
- In addition to hybrid and gasoline engines engine variants with cutting-edge ABS-EBD stopping or braking technology, BMW, that is a German multinational premium car company, made an announcement of the BMW 7 Series in this year, 2022. It is predicted that several new car releases equipped with ABS systems would increase demand for automotive ABS motors in Western Europe.
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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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