As vehicles continue to advance in technology and safety features, ABS motors play a crucial role in enhancing vehicle stability and reducing the risk of accidents by preventing wheels from locking up during braking.
This anticipated growth reflects the escalating adoption of ABS technology across various vehicle segments, underlining the increasing emphasis on passenger safety and driving experience.
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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.
Key Takeaways from the Automotive ABS Motor Market Report:
The overall growth of the global automotive ABS motormarket is estimated to be around USD 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:
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.
Recent Developments:
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.
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