Lewes, DE -- (SBWire) -- 12/05/2016 --Report forecast the global commercial vehicle anti-lock braking system market to grow at a CAGR of 6.24% during the period 2016-2020.
While driving a vehicle, braking is a mandatory operation that is needed to control the vehicle. There are different road-side driving conditions such as off-highway conditions, city traffic among others that have led to the evolution of the different automotive braking systems. This has led to the development of anti-lock braking systems, autonomous braking systems, and advanced emergency braking systems among others. The ABS plays a crucial role in preventing skidding and locking of tires when the brakes are pressed. In an ABS equipped commercial vehicle, the sensor technology enables sensing of the wheel lock-up and sends corrective actions to enable the driver to establish control of the vehicle.
The report covers the present scenario and the growth prospects of the global commercial vehicle anti-lock braking system market for 2016-2020. To calculate the market size, the report considers the ABS deployed in the commercial vehicles (LCVs and HCVs). The annual production numbers of commercial vehicles are also considered in the report.
The market is divided into the following segments based on geography:
- Americas
- APAC
- EMEA
According to the report, need for making safer vehicles to curb road accidents will drive growth in the market. It is estimated that 90% of the fatalities in accidents occur in low and middle-income countries through these countries account for only half of the world's vehicle population. Further, it is also estimated that road traffic accidents are likely to become the seventh leading cause of death by 2030 with the road traffic crashes costing countries approximately 3%-5% of their gross national product.
Further, the report states that though developing regions like India have just recently declared a mandate for ABS fitment in commercial vehicles, there are several countries in APAC and in other developing regions such as the Latin America where the regulatory mandates have lagged. These mandates are meant for the commercial vehicle category and require the vehicles to have a minimum level of safety systems equipped with them.
Global Commercial Vehicle Anti-Lock Braking System Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
key players in the global commercial vehicle anti-lock braking system market: Continental, Bosch, Delphi, Wabco, and ZF-TRW.
Other Prominent Vendors in the market are: Meritor Wabco, Valeo, ZF, Denso, Magna International, Ficosa International, Mando, Autoliv, Bendix, Renesas, Haldex, Jiaozuo Brake, Nissin Brake Ohio, Knorr-Bremse, Tata AutoComp, and Sundaram Clayton.
Market driver
- Need for making safer vehicles to curb road accidents
- For a full, detailed list, view our report
Market challenge
- High product development and manufacturing cost pressure on OEMs
- For a full, detailed list, view our report
Market trend
- Collision avoidance technology with active steering control for commercial vehicles
- For a full, detailed list, view our report
Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
Spanning over 66 pages and 25 Exhibits "Global Commercial Vehicle Anti-lock Braking System Market 2016 - 2020" report covers Executive summary, Scope of the report, Market research methodology, Introduction, Market landscape, Geographical segmentation, Market drivers, Market challenges, Market trends, Vendor landscape, Key vendor analysis, Appendix.
For more information Visit at: http://www.marketresearchreports.com/technavio/global-commercial-vehicle-anti-lock-braking-system-market-2016-2020
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