Automotive ABS Fault Detectors Market: Introduction
- Anti-lock braking system (ABS) is an anti-skid system that prevents the wheels of a vehicle from locking and provides optimum braking efficiency to avert any mishaps. ABS systems are prone to failure due to their harsh working environments. Faults such as breaks in wiring, internal short circuits, external damage, heavy contamination, increased wheel bearing clearance, and mechanical damage to the encoder wheel are some common faults that hamper the working of the ABS system, which can result in accidents.
- ABS fault detectors are incorporated in vehicles to avoid such accidents. These detectors alert the driver of any faults via a warning lamp and deactivate the ABS control of a specific wheel or the entire ABS system in certain cases.
Key Drivers of Automotive ABS Fault Detectors Market
- The number of road traffic accidents has been increasing for the last few years causing huge loss of life and money. According to the statistics released by World health Organization in February 2020, more than 1.35 million people die in road accidents, annually, and other 20 to 50 million people encounter non-fatal injuries. Vehicle electronics play a key role in all automotive safety equipment. Optimal interaction between complex electronic systems increases road safety. Thus, rising concern toward road safety has led to an increase in the demand for vehicles with ABS systems. People are preferring ABS-installed vehicles due to its ability to prevent the vehicle from skidding on sudden application of brakes in emergency situations and provide better control of the vehicle. Rising popularity of vehicles equipped with ABS systems is further fueling the global automotive ABS fault detectors market.
- Transportation regulatory authorities worldwide have implemented several rules to ensure safety of the vehicle driver and co-passengers. These rules include mandating the integration of ABS on vehicles. For instance, in September 2015, the Road Transport Ministry of India mandated that every model of motorbikes should be fitted with combined braking system (CBS) and ABS by 2018. Likewise, National Highway Traffic Safety Administration (NHTSA) issued a rule that mandates trailers to be equipped with ABS malfunction indicator lamp. These regulatory transformations are propelling the global automotive ABS fault detectors market.
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Challenges to Global Automotive ABS Fault Detectors Market
- The intricate network of additional components in an ABS system increase the challenges of repair and maintenance activities and also boosts the cost of systems, which in turn is restraining the automotive ABS fault detectors market across the globe
Impact of COVID-19 Pandemic on Automotive ABS Fault Detectors Market
- The COVID-19 pandemic disrupted automotive supply chains around the globe, thus creating a shortage of raw materials and components. This disruption hampered the sales and production activities of automobiles, thereby lowering the demand for automotive ABS fault detectors. However, the demand for ABS fault detectors across the globe is anticipated to rise in the next few years, as governments are easing restrictions and companies are restarting their operations with precautionary measures.
North America and Europe to hold significant share of global automotive abs fault detectors market
- High awareness among the populations and stringent vehicle safety regulations in North America and Europe are boosting the demand for ABS fault detectors. Furthermore, the high per capita GDP in these regions enables people to opt for vehicles with advanced safety solutions, thereby driving the automotive ABS fault detectors market.
Key Players Operating in Automotive ABS Fault Detectors Market
The global automotive ABS fault detectors market is highly concentrated due to the presence of top manufacturers. A few of the key players operating in the automotive ABS fault detectors market are:
- BorgWarner Inc.
- Texas Instruments Incorporated
- Knorr-Bremse AG
- Robert Bosch GmbH
- Vishay Intertechnology, Inc.
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Global Automotive ABS Fault Detectors Market: Research Scope
Global Automotive ABS Fault Detectors Market, by ABS Type
- 4 channel
- 3 channel
- 2 channel
- 1 channel
Global Automotive ABS Fault Detectors Market, by Vehicle Type
- Two Wheeler Vehicle
- Passenger Vehicle
- Utility Vehicle
- Commercial Vehicle
Global Automotive ABS Fault Detectors Market, by Sales Channel
Global Automotive ABS Fault Detectors Market, by Region
- North America
- Nordic Region
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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The following regional segments are covered comprehensively:
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- Latin America
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The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
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