The global automotive ABS motor market is set to witness an impressive growth rate of 8.5% from 2022 to 2032. The automotive ABS motor service market size is anticipated to reach a valuation of around US$ 16 Billion by 2032, from the current valuation of US$ 4.5 Billion in 2022.
Given the increasing number of cars with ABS, the personal vehicle sector holds the highest market position in the worldwide automotive ABS motor marketplace. Given the enormous number of car sales, nations including the United States, China, Germany, and India are always ahead. They are also predicted to lead the automobile ABS motor industry during the forecast period.
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The ABS braking system is required to produce new models of hybrid and electric cars. Its installation at manufacturing units is anticipated to drive the global market for automotive ABS motors. The vehicle ABS motor market is also expected to grow substantially throughout the specified period due to several countries implementing strict safety laws and regulations on vehicle manufacturers, notably authorities of China, the United States, and some European countries.
The globally increasing automobile sector is the primary driver of the market for automotive ABS motors. However, in recent years, the need for high efficiency is the rapid rise in the acceptance of automotive vehicles, such as sport utility vehicles or SUVs, and expensive cars. Also, due to the widespread use of automotive ABS motors in modern vehicles as a result of strict safety regulations, it is anticipated that the demand for the automotive ABS motor market in the Asia Pacific Region would be much more lucrative for the market players.
The maintenance cost for an automobile with an ABS motor is significantly higher. This might limit the use of automobile ABS motors, particularly in the secondary marketplace, resulting in limited overall automotive ABS market growth.
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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 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 (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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