Automotive Antilock Braking System and Electronic Stability Control Market Report 2024

The automotive antilock braking system and electronic stability control market size has grown strongly in recent years. It will grow from $52.31 billion in 2023 to $56.37 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth during the historic period can be attributed to several factors, an increase in road traffic accidents, stricter government regulations, growth in vehicle production, higher adoption rates of electric vehicles, and the ongoing trend of urbanization.

The automotive antilock braking system and electronic stability control market size is expected to see strong growth in the next few years. It will grow to $76.34 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The anticipated growth in the forecast period can be attributed to several factors, increased implementation of stringent regulatory standards, heightened awareness of road safety systems, expanded vehicle production, growing popularity of electric vehicles, rising demand for advanced safety features, and a heightened focus on vehicle safety overall. Key trends expected in the forecast period include advancements in technology, adoption of 5G technology for improved connectivity, enhanced sensor technologies for more precise vehicle control, development of autonomous vehicles, and the integration of proactive safety features into vehicle designs.

The automotive antilock braking system and electronic stability control market are poised for growth due to the increasing rate of accidents. These accidents are escalating due to higher vehicle usage, distracted driving from mobile devices, inadequate infrastructure, and human errors. Antilock braking systems prevent wheel lock during braking, improving steering control and reducing collision risks, while electronic stability control detects and minimizes skidding, thereby significantly lowering accident rates. For instance, in May 2022, the National Highway Traffic Safety Administration reported a 10.5% increase in motor vehicle crash fatalities, averaging 42,915 deaths compared to 38,824 in 2020. Hence, the rising incidence of accidents is propelling the automotive antilock braking system and electronic stability control market forward.

Leading companies in this market are prioritizing innovative technologies such as electric braking systems to strengthen their market positions. Electric braking systems utilize electronic controls to manage braking force more effectively than traditional hydraulic systems, enhancing safety, efficiency, and vehicle performance. For example, in October 2022, Lippert International Inc., a US-based leader in connection systems, launched a fully integrated electric anti-lock braking system. This system integrates advanced technology to enhance trailer safety and performance, featuring real-time wheel speed monitoring for precise control and prevention of wheel lock-up during braking. Engineered for durability and reliability, Lippert's ABS sets a new standard in trailer braking technology, ensuring smoother and safer towing experiences across various road and weather conditions.

In April 2022, SSW Partners LP, a US-based investment firm, completed the acquisition of Veoneer Inc. for $4.6 billion. This strategic move allows SSW Partners to expand its portfolio in automotive safety technologies, leveraging Veoneer's expertise to enhance its market position and capabilities in advanced driver assistance systems (ADAS) and autonomous driving solutions. Veoneer Inc., headquartered in Sweden, is renowned for manufacturing and developing automotive electronic safety systems.

Major companies operating in the automotive antilock braking system and electronic stability control market are Toyota Motor Corporation, Ford Motor Company, Robert Bosch GmbH, Hitachi Automotive Systems Ltd., Nissan Motor Co. Ltd., Tata Motors Limited, DENSO Corporation, Continental AG, Hyundai Mobis Co. Ltd., ZF Friedrichshafen AG, Aisin Corporation, Schaeffler Group, Murata Manufacturing Co. Ltd., Autoliv Inc., Knorr-Bremse AG, Akebono Brake Industry Co. Ltd., Bendix Commercial Vehicle Systems LLC, Veoneer HoldCo LLC, Haldex AB, Magneti Marelli, Delphi Technologies, WABCO Holdings Inc.

Europe was the largest region in the automotive antilock braking system and electronic stability control market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive antilock braking system and electronic stability control market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the automotive antilock braking system and electronic stability control market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Automotive antilock braking systems (ABS) and electronic stability control (ESC) are advanced safety technologies integrated to enhance vehicle control and mitigate accidents. ABS prevents wheel lock-up during braking, ensuring steering control remains effective, while ESC identifies and mitigates loss of traction by applying brakes to individual wheels and adjusting engine power, aiding drivers in maintaining overall vehicle control. Together, these systems significantly bolster vehicle stability and safety across diverse driving conditions.

Key technologies within automotive ABS and ESC encompass three-channel ABS, four-channel ABS, and ESC itself. A three-channel ABS autonomously manages braking pressure across three of the vehicle's four wheels during sudden braking, thereby averting wheel lock-up. These technologies cater to a wide range of vehicle categories including compact, mid-sized, premium, luxury, commercial, and heavy commercial vehicles, serving various end-users such as original equipment manufacturers and aftermarket suppliers.

The automotive antilock braking system and electronic stability control market research report is one of a series of new reports that provides automotive antilock braking system and electronic stability control market statistics, including automotive antilock braking system and electronic stability control industry global market size, regional shares, competitors with an automotive antilock braking system and electronic stability control market share, detailed automotive antilock braking system and electronic stability control market segments, market trends, and opportunities, and any further data you may need to thrive in the automotive antilock braking system and electronic stability control industry. This automotive antilock braking system and electronic stability control research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The automotive antilock braking system and electronic stability control market consists of revenues earned by entities by providing services such as checking ABS warning lights, sensor maintenance, hydraulic system checks, electrical system checks, and system calibration. The market value includes the value of related goods sold by the service provider or included within the service offering. The automotive antilock braking system and electronic stability control market also includes sales of wheel speed sensors, hydraulic control units, ABS pumps, brake pedal sensors, and hydraulic accumulators. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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