From 2022 to 2032, the worldwide automotive ABS motor market is anticipated to develop at an outstanding 8% to 9% CAGR The personal vehicle market segment now holds the leading position in the worldwide automotive ABS motor marketplace due to the growth of automobiles equipped with ABS. When it comes to worldwide auto sales, the United States, China, Germany, and India constantly take the lead. They are also anticipated to rule the automotive ABS motor market during the forecast period.
The ABS braking system is required to build new hybrid and electric car types. It is anticipated that the installation of automotive ABS motors in manufacturing facilities would increase the global market for these components. The vehicle ABS motor market is also predicted to grow rapidly over the next few years as a result of numerous nations, including China, the United States, and some European countries, imposing strict safety legislation and regulations on vehicle makers.
The global car industry’s expansion is the main driver of the market for automotive ABS motors. But in recent years, the popularity of luxury cars and sport utility vehicles (SUVs) has skyrocketed, creating a demand for greater efficiency. Additionally, it is expected that the demand for the automotive ABS motor market in the Asia Pacific Region would be significantly more profitable for the market players due to the extensive use of automotive ABS motors in modern automobiles as a result of severe safety criteria.
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An automobile with an ABS motor needs to be maintained significantly more frequently. This may limit the supply of automobile ABS motors, particularly in the secondary market, and consequently slow the growth of the automotive ABS industry as a whole.
Key Takeaways from Automotive ABS Motor Market Study
- The overall growth of the global automotive ABS motormarket is estimated to be around US$ 11.5 Billion over the forecast years through 2032, by experiencing the astounding CAGR of 13.5%.
- 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
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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.
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