Source: Future Market Insights announcement/post
NEW YORK — The sales in the global automotive anti-lock braking system (ABS) motor market are projected to rise at a compound annual growth rate (CAGR) of eight to nine percent during the period between 2022 and 2032, according to a recent study by Future Market Insights (FMI).
The ABS is an automotive braking system that is widely used as a major safety system in automobiles that helps the vehicle maintain steering control and prevents the wheels from locking up. The primary role of ABS is to maintain tractive force with the road, to prevent the vehicle from skidding and avoid accidents.
The ABS motor is a vital part of ABS hydraulic control unit in ABS. The automotive ABS motor is responsible to build up the pressure against the braking force and revert the valves to closed position to avoid wheel lock up. Automotive ABS motor adjusts the hydraulic amount of the brake fluid to control the speed of each wheel as per required output.
Growth in the automotive ABS market is directly proportional to the growth of the automotive ABS motor market. The automotive ABS Motor market is mainly driven by growing government and regulatory board guidelines and norms.
The increasing number of road accidents has called for stringent rules and regulations by several governments for implementation of better braking systems in automobile vehicles. This has led to an increased number of ABS installation in automobiles and is driving the automotive ABS motor market.
In recent times, leading automakers of conventional as well as electric vehicles have increased product offerings with installed ABS which is projected to increase the demand for automotive ABS motor. With growing safety concerns, increasing installations of ABS in new automobiles and imposing government norms automotive ABS motor market is expected to witness healthy demand in the coming years.
The automotive ABS motor requires high maintenance cost. This coupled with fluctuating prices of raw materials are anticipated to hamper the demand for automotive ABS motor, especially in the aftermarket. But the overall drivers of the market are expected to trump the restraints of automotive ABS motor market.
Automotive ABS Motor Market: Regional
In the global market, passenger car segment is expected to hold a major market share in automotive ABS motor market due to increased production rate of automobiles with ABS. Countries like the United States, China, Germany, and India are expected to drive the automotive ABS motor market due to high volume sales of automobiles in these regions.
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