Electronic Stability Control System Market to Observe Strong Development By 2025

By Ronak Bora

Electronic stability control system market is anticipated to observe rapid growth through increased product deployment in commercial vehicles. Intensifying awareness about vehicle safety is producing a higher demand for electronic stability control systems in commercial vehicles.
The increasing implementation of safety features in automobiles is expected to drive electronic stability control system market. The automotive industry has been witnessing significant rise in utilization of vehicle safety features like traction control system and ABS (anti-lock braking system). The growing awareness of such systems in emergency driving situations on the road, is drawing government attention, making them a compulsion for auto manufacturers.
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The growing demand for both passenger and commercial vehicles worldwide, owing to the rise in industrialization complemented by the increasing per capita income and easy credit availability will fuel automobile sales, bolstering electronic stability control system market size.
The integrated traction control system also makes use of the sensors to detect if any one of the wheels is spinning quicker than the corresponding wheel. The system then reduces engine power or even apply brakes for the vehicle to regain traction again. The ability of the ESC system to promote great control over the vehicle, improving vehicle handling on slick and solid surfaces, will drive industry trends.
Electronic stability control system enhances the braking, traction, and skid control; therefore, it helps drivers to avoid accidents from the wheel slip due to over acceleration and braking in harsh driving conditions. And this is typically true for today’s high torque engines, where regulation of wheel slip and traction control can considerably increase the safety and comfort while driving on slippery surfaces.
Reportedly, about 80 percent of accidents occur due to vehicle skidding which necessitates the requirement of electronic stability control. Currently, the ESC systems have integrated with ABS and traction control system, further helping to achieve the benefits of vehicle stability control. The increasing number of casualties due to road accidents resulting from the loss of traction will enhance electronic stability control system market outlook.
Similarly, the upcoming vehicle safety regulations across many countries can make it mandatory for manufacturers to integrate ESC system, which is expected to drive electronic stability control system market growth. Reportedly, the improving regulations in countries like India and Argentina can force car manufacturers to implement ESC system, further widening the market opportunities. For instance, in February 2017, the Ministry of Road Transport & Highways in India announced a new circular to make the ABS mandatory for new cars that have sold in the country from April 2019 onwards.
Asia Pacific is anticipated to bring about strong growth trends in electronic stability control system market credited to the large automotive industry in the region. The presence of two of the fastest growing emerging countries, China and India, representing massive automotive production, will propel the regional industry share.
ZF Friedrichshafen, Robert Bosch GmbH, Continental AG, Hitachi Automotive Systems Ltd., Autoliv Inc., Johnson Electric, WABCO, and Bendix Commercial Vehicle Systems are some of the leading firms in electronic stability control system industry.
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Partial Chapter of the Table of Content
Chapter 4. Electronic Stability Control System Market, By Vehicle Type (Revenue, Shipment)
4.1. Key trends in market, by vehicle type
4.2. Passenger cars
4.2.1. Market estimates and forecast, 2015 – 2025
4.3. Light Commercial Vehicle (LCVs)
4.3.1. Market estimates and forecast, 2015 – 2025
4.4. Heavy Commercial Vehicle (HCVs)
4.4.1. Market estimates and forecast, 2015 – 2025
Chapter 5. Electronic Stability Control System Market, By Component (Revenue)
5.1. Key trends in market, by component
5.2. Hydraulic unit
5.2.1. Market estimates and forecast, 2015 – 2025
5.3. Sensors
5.3.1. Market estimates and forecast, 2015 – 2025
5.4. Electronic control unit (ECU)
5.4.1. Market estimates and forecast, 2015 – 2025
Charts & Figures
FIG. 1 Electronic stability control system market segmentation
FIG. 2 Global market, 2015 - 2025 (USD Million)
FIG. 3 Industry ecosystem analysis
FIG. 4 Growth potential analysis
FIG. 5 Porter’s analysis
FIG. 6 Company market share, 2018
FIG. 7 PESTEL analysis
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About Author

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport....

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