China Automotive Abs Market Is Reported To Reach 22.5 Million ABS Sets By 2017 : Report By Radiant Insights,Inc
China’s automobile production has risen to 22.13 million units, displaying a 14.8% annual growth rate in 2013. The sales volume rose to approximately 22 million units in 2013, growing at an estimated CAGR of almost 14%.
San Francisco, United States – March 29, 2016 /MarketersMedia/ —
ABS (or anti-lock braking system) is a device installed in an automobile to prevent the tires from skidding or cease tire rotation when the brakes are applied. It provides better control of the vehicle and decreases stopping distance on slippery or snow-laden surfaces.
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The China automotive ABS market is reported to reach an overall volume of 22.5 million ABS sets by 2017. Factors such as regulations pertaining to safety and increase in automobile sales in the region is expected to drive market demand over the forecast phase (2014-2017).
China’s automobile production has risen to 22.13 million units, displaying a 14.8% annual growth rate in 2013. The sales volume rose to approximately 22 million units in 2013, growing at an estimated CAGR of almost 14%. Passenger vehicles had a 62% market share, whereas commercial vehicles had a 90% share in the same year. Passenger vehicles were led by foreign brands, while commercial vehicles were dominated by domestic players.
This triggered a demand for ABS in all vehicles, reaching almost 15.14 million sets in China in the same year.
Products of the China automotive ABS market are hydraulic ABS and pneumatic ABS. The former are used in passenger vehicles, whereas the latter are employed in commercial vehicles. Hydraulic ABS had a market volume, in terms of demand, of 12.26 million sets in 2012. This figure reached 14.65 million units in 2013, at a 19% growth rate. But pneumatic ABS had a high growth potential on account of many freight cars still unequipped with the device. Demand of pneumatic ABS had reached only 480,000 sets in 2013.
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Top regions in China that guarantee large sales are Shandong, Jiangsu, Chongqing, and Liaoning. Due to the Chinese market being large and fragmented, foreign brands need to forge partnerships with local outlets or distributors to gain a steady hold. Domestic players are another threat for foreign brands, as they plan to upgrade their product portfolio in the near future.
Prominent manufacturers of the China automotive ABS market include BOSCH, Beijing West Industries (BWI), TRW Automotive, NISSIN, and VIE (Volontariat International en Entreprises).
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