Market Trends of Asia-Pacific Automotive Anti-Lock Braking System Industry
This section covers the major market trends shaping the APAC Automotive Anti-Lock Braking System Market according to our research experts:
Autonomous Emergency Braking System Poised to Drive Market Growth
For four wheelers, research indicates ABS is quite useful, reducing the overall crash-involvement rate by 6% in passenger cars and by 8% in LTVs for non-fatal crashes, which is statistically significant.
In 2-wheelers, 93% of motorcycle falls worldwide could have been avoided or the severity of the accident might have been less. Also, reducing fatal and severe injuries to motorcycle drivers by 8 to 10% suggests that ABS might reduce the number of crash victims especially on wet pavements, improving overall vehicle stability during braking, preserving the ability to steer, and reducing stopping distances on surfaces
Earlier, LIDAR sensors of camera systems were only able to detect cars and only able to autonomously brake sufficiently to avoid a collision with a relative velocity of around 15 kph and termed as “City-AEB” or “low-speed AEB. However, with growing advancements in the ABS market, object recognition of more modern systems now includes PTWs, pedestrians, and cyclists who can operate faster. They can, therefore, detect obstacles at higher travel speeds. Thus, the Autonomous Emergency Braking System could drive the future growth of the market.
India Expected to Witness the Fastest Growth in the Asia-Pacific market
In 2019, India sold a total of 21.18 million two-wheelers. It has now surpassed China and is the largest market for two-wheelers. Also, most of these 2-wheelers are sold to a cost-conscious market. However, with ABS technology becoming more affordable and government mandating automakers to install an ABS without an option not to purchase it, the market will experience higher growth.
In late 2019, the Road transport ministry of India has already made it mandatory for all cars and mini-buses to install an anti-lock braking system (ABS). Similarly, mandating automakers to fix the ABS in all new vehicles of the existing models from April 2019.
India tops the list for deadly road accidents globally, with 1.51 lakh people killed in 4.67 lakh accidents in 2018. Moreover, 30% of the reported accidents were related to Trucks and buses. 77% of these accidents were due to collision, loss of control, or lane departure. This resulted in India making ABS compulsory on all new models of commercial vehicles starting April next, an endeavor aimed at making the country’s notoriously accident-prone roads safer.
Since seat belts were mandatory in all cars back in 1990, ABS is the second major safety equipment that India has made compulsory in nearly all vehicles.
