Antilock agents include antilock braking system (ABS) and electronic stability control system (ESC). Antilock agents improve vehicle safety by increasing its balance on the road, thereby minimizing accidents Antilock braking system reduces the uncontrollable skidding chances of a vehicle by preventing wheel lock up or cease in its rotation. Electronic stability control system improves the vehicular stability and reduces the traction loss.
Antilock agents have been increasingly becoming one of the most important vehicle safety concerns for the consumers and vehicle manufacturing companies. While inclusion of antilock agents in the vehicles has become mandatory by law in most of the developed countries, with the increasing consumer awareness the developing countries are increasingly including them in their vehicles. The New Car Assessment Program (NCAP), a government car safety program which evaluates new automobile designs for performance against various safety threats has been instrumental in the increasing market for antilock agents. NCAP awards the vehicle designs with safety ratings based on their safety profile.
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There are basically five types of ABS namely one-channel, one sensor ABS; two channel-four sensor ABS; three-channel, three sensors ABS; three-channel, four sensors ABS and Four channel, four sensor ABS. The four-channel, four sensor ABS is the best amongst its types wherein there is a speed sensor on all the four wheels and a separate valve for all of the wheels. The increasing research and developments by the vehicle manufacturing companies to increase vehicle safety levels have lead to advancement in antilock agent technologies as well. The modern passenger cars are pre-equipped with the latest ABS and ESC systems.
Electronic stability control system has comparatively larger market than antilock braking system. The increasing demand for luxury cars is also boosting the demand for antilock agents as they feature among the integral parts in these vehicles. According to a recent report named “Global Status Report on Road Safety” by World Health Organization (WHO), the death tolls in vehicle collision has declined in the developed countries in the recent tears whereas the same is increasing in the middle and low income countries. WHO in its report has recognized 20.1 death cases per 100,000 inhabitants in the middle income countries.
The increasing raw material prices have been one of the major restraints for the antilock agent manufacturers as the increase in raw material prices leads to the increase in price of the final product which further increases the vehicle cost if it is included into the vehicle. The increasing middle class population has been encouraging manufacturers to produce more numbers of low cost cars which lack the advanced safety features such as antilock agents. The increasing costs of manufacturing the antilock agents which primarily includes the designing and testing phases are also emerging as a challenge for this industry.
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Globally, Asia Pacific dominated the global sales of antilock agents followed by Europe. The increasing vehicle population and rising per capita income in the developing countries such as India China and Brazil are leading to the fast growth of antilock agents market in markets. China surpassed the U.S. in 2010 to become the largest passenger car consumer which also increased its market for antilock agents. The U.S. and Canada were the major markets for antilock agents in North America. Germany, France, The U.K., Italy and Spain were the key markets in Europe. Asia Pacific antilock agents market was dominated by Japan, China, Australia and South Korea. The key companies in global antilock agents market include Robert Bosch GmBH, Autoliv Inc., TRW Automotive, Delphi Automotive Plc, Denso Corporation, Continental AG and Hyundai Mobis.