GLOBAL ANTI-LOCK BRAKING SYSTEM (ABS) MARKET

INTRODUCTION

Anti-Lock Braking System (ABS) a key feature of active safety system helps to steer the vehicle with better traction when brakes are applied. This is achieved by preventing the locking of wheels. ABS offer benefits such as stable braking on all kinds of road surfaces, reducing the wear and tear of the tyres and reducing the braking distance. The increased adoption of ABS in 2 wheelers has been one of the major driving factors of ABS market.

 

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MARKET SEGMENTATION

By Component

  • Sensors
  • ECU
  • Pump
  • Valves

By Type of Vehicles

  • Passenger Cars
  • Light Commercial Vehicles
  • Heavy Commercial Vehicles
  • Two Wheelers

By Type

  • Four-Channel, Four Sensors
  • Two-Channel, Four Sensors
  • One-Channel, One Sensor

By Geography

  • US
  • Europe
  • China
  • India
  • ROW

MARKET DYNAMICS

Approximately 1.35 million people die in road mishaps every year, thereby leading to increase in the inclusion of ABS and other vehicular safety feature. The regulations to make ABS mandatory in every passenger cars and motorcycles across the world are the major factor impacting the ABS market.

 

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MARKET BY COMPONENT

The replacement of traditional proportional brake valves and combinational brake valves in case of dysfunction of ABS has increased the opportunities. In future, the integration of electronics in braking system such as EBD and ESP will reduce the fitment of the valves in the system. The sensors are witnessed to be the fastest growing segment as the mandate to fit ABS speed sensors in all 4 wheels will boost the market. The ECU is the highest revenue generating component of all.

MARKET BY VEHICLE TYPE

The passenger cars are the largest revenue generating market in the ABS segment. Hydraulic ABS is the most commonly found in the passenger cars.

In the market the commercial vehicles were the first to be mandated to be equipped with the ABS. The pneumatic ABS has the higher penetration in the high duty commercial vehicles, whereas the hydraulic ABS is featured in the light duty commercial vehicles.

The ABS among 2 wheelers is seen growing rapidly. The 2 wheelers come with dual and single channel ABS. The single channel ABS holds the majority of the share more than 3/4th of the market. The single channel ABS is fitted to the front wheel and is found in mid-budget vehicles and with less power.

The below graph shows the ABS market share based on vehicle type:

 

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US ANTI-LOCK BRAKING SYSTEM MARKET

US made it mandatory to install ABS in passenger cars in 2013 and for motorcycles in 2018. Every passenger car is made compulsory to fit 4 channel 4 sensors ABS. The US commercial vehicle fleet is the largest in the world and the ABS penetration among CV is highest in the region.                                  

EUROPE ANTI-LOCK BRAKING SYSTEM MARKET

The first region to mandate the ABS in cars in 2004, and has passed the law to mandate the fitment ABS the motorcycles with ABS in 2016 has been the leader in the market. The presence of major manufacturers such as Veoneer, Bosch, Continental and ZF has increased the potential of the European ABS market.

CHINA ANTI-LOCK BRAKING SYSTEM MARKET

The passenger cars and light duty commercial vehicles like trailers were mandated to equip ABS in 2018. ABS in heavy duty commercial vehicles was made compulsory in 2017. Every new 2 wheelers launched in China is mandatorily fitted with ABS. Continental and Huyau Brake Systems the JV has started operation in its Chongqing area.

INDIA ANTI-LOCK BRAKING SYSTEM MARKET

India has already mandated to fit ABS in every passenger car and 2-wheeler above 125 cc launched after April 2019. Over 85% of the Indian 2 wheelers are sub 150-200 cc thus, the single channel ABS occupy the dominating market share.

 

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Continental AG occupies the ABS market in India and has begun localizing ABS since 2016 and has completed 2 million units at its Gurgaon plant.  The production plant of ECU for ABS was set up in Bangalore in 2018, which has produced 1 million ECUs already.

RECENT MARKET TREND

  • WABCO Holdings has introduced intelligent ABS, (iABS) for the commercial trailers in North America region.
  • Beginning from April 1st 2020, ABS is made mandatory for all new motorcycles over 125cc in New Zealand.
  • Veoneer Inc completed the sale of its 51% ownership in the Japanese and Chinese entities to its JV partner Nissin-Kogyo Co and Honda Motor Co.
  • WABCO Holdings Inc’s merger with ZF Friedrichshafen is expected to be completed by 2nd quarter of 2020.

MARKET SIZE AND FORECAST

To reduce the cost of replacement of faulty ABS, research activities is witnessed in the segment. Meyle AG Hamburg based company has developed a sensor kit, which detects for any defective sensor ring and  helps to replace the sensor ring only and thus reducing the cost of replacing the entire wheel hub. 

 

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Risks

In the event ABS loses battery to the controller the dash warning light for the ABS may not illuminate to warn the driver. In April 2020, Paccar Inc recalled almost half a million Peterbilt and Kenworth tractors owing to faulty ABS warning light.

COMPETITVE LANDSCAPE

The leading manufacturers of ABS are also extending the production line to other ADAS features such as ESC and EBD. Autolive leading active and passive safety providing company under the name Veoneer has been the major player in Europe. Some of the other important manufacturers are Continental (Germany), Bosch (Germany), Advics (Japan), ZF (Germany), Wabco (US) and Hitachi (Japan).

COMPANY PROFILE

  1. Autoliv
  2. Denso
  3. Advics
  4. Hitachi Automotive Systems
  5. ZF Friedrichshafen AG
  6. Wabco US
  7. Continental
  8. Bosch GmbH
Sl noTopic
1Market Segmentation
2Scope of the report
3Abbreviations
4Research Methodology
5Executive Summary
6Introduction
7Insights from Industry stakeholders
8Cost breakdown of Product by sub-components and average profit margin
9Disruptive innovation in the Industry
10Technology trends in the Industry
11Consumer trends in the industry
12Recent Production Milestones
13Component Manufacturing in US, EU and China
14COVID-19 impact on overall market
15COVID-19 impact on Production of components
16COVID-19 impact on Point of sale
17Market Segmentation, Dynamics and Forecast by Geography, 2020-2025
18Market Segmentation, Dynamics and Forecast by Product Type, 2020-2025
19Market Segmentation, Dynamics and Forecast by Application, 2020-2025
20Market Segmentation, Dynamics and Forecast by End use, 2020-2025
21Product installation rate by OEM, 2020
22Incline/Decline in Average B-2-B selling price in past 5 years
23Competition from substitute products
24Gross margin and average profitability of suppliers
25New product development in past 12 months
26M&A in past 12 months
27Growth strategy of leading players
28Market share of vendors, 2020
29Company Profiles
30Unmet needs and opportunity for new suppliers
31Conclusion
32Appendix

 

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