As per the current market research conducted by the CMI Team, the global ABS/ESC Coil Housing Market size is expected to record a CAGR of 6.1% from 2023 to 2032. In 2022, the market size is projected to reach a valuation of USD 800.5 Million. By 2032, the valuation is anticipated to reach USD 1200 Million.
ABS/ESC Coil Housing Market: Growth Factors and Dynamics
- Safety Regulations: Stringent regulations mandating ABS and ESC systems in vehicles for improved safety drive the demand for associated components like coil housings.
- Increasing Vehicle Production: As automotive production expands globally, the installation of ABS/ESC systems becomes more widespread, boosting the demand for coil housings.
- Advancements in Technology: Rapid technological advancements in sensors, materials, and manufacturing techniques enhance the performance, accuracy, and durability of ABS/ESC systems, driving the need for updated coil housing designs.
- Electric Vehicle Revolution: The shift towards electric vehicles creates new opportunities, as these vehicles require adapted ABS/ESC systems and corresponding coil housings to cater to unique architectures and safety demands.
- Autonomous Driving: The integration of ABS/ESC systems into autonomous driving functionalities demands even higher precision and responsiveness, encouraging further innovation in coil housing designs.
- Urbanization and Mobility Services: Urbanization leads to increased congestion, driving the need for effective stability and braking systems. Mobility services like ride-sharing also require reliable safety technologies, bolstering the demand for coil housings.
- Consumer Awareness: Growing awareness of safety features among consumers elevates the demand for vehicles equipped with ABS/ESC systems, consequently influencing the market for associated components.
- Aftermarket Demand: Replacement and upgrade demand for coil housings in existing vehicles as they age or for retrofitting further contribute to market growth.
- Global Road Safety Concerns: Rising awareness of road safety issues prompts governments and organizations worldwide to encourage the adoption of advanced safety systems, including ABS/ESC, driving market expansion.
- Supplier Collaboration: Collaborations between automotive manufacturers and suppliers to develop integrated safety solutions bolster the demand for advanced ABS/ESC systems and their components.
- Environmental Concerns: The pursuit of lightweight materials for coil housing designs aligns with the automotive industry’s broader trend toward fuel efficiency and reduced emissions.
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ABS/ESC coil housing Market: Partnership and Acquisitions
- ZF Friedrichshafen’s Acquisition of WABCO: ZF’s acquisition of WABCO, a leading supplier of commercial vehicle technologies, strengthens their position in the commercial vehicle segment, including components like ABS/ESC coil housings.
- Continental and NVIDIA Collaboration: Continental partnered with NVIDIA to develop a self-driving platform, integrating sensors, software, and AI for autonomous vehicles. This collaboration indirectly influences ABS/ESC coil housing designs to accommodate advanced safety and autonomous capabilities.
ABS/ESC Coil Housing Market: COVID-19 Analysis
The COVID-19 pandemic has had a significant impact on the ABS/ESC coil housing Market, with the industry experiencing both positive and negative effects. Here are some of the key impacts:
- Supply Chain Disruptions: Lockdowns and restrictions disrupted global supply chains, leading to delays in production and potential shortages of components, including coil housings.
- Reduced Vehicle Production: Many automotive manufacturers temporarily halted production, causing a drop in demand for ABS/ESC coil housings due to lower vehicle output.
- Shift in Consumer Spending: Economic uncertainty led to reduced consumer spending on non-essential items, affecting new vehicle sales and consequently the demand for safety systems like ABS/ESC.
List of the prominent players in the ABS/ESC Coil Housing Market:
- Bosch
- Continental AG
- ZF Friedrichshafen
- Aisin Seiki Co. Ltd.
- Denso Corporation
- Delphi Technologies
- Autoliv
- WABCO Holdings Inc.
- Hitachi Automotive Systems
- Mando Corporation
- Others
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