Electronic Stability Control System Market Segmentation, Opportunities And Forecast To 2025
Category: #business  By Ronak Bora  Date: 2021-08-17
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Electronic Stability Control System Market Segmentation, Opportunities And Forecast To 2025

Electronic stability control system market trends are poised to gain immense momentum over the forecast years, owing to rise in fatal car crashes and serious vehicle accidents causing large-scale damage to the masses. Since the last few decades, the automotive industry has shifted its focus towards implementation of more active safety features like traction control system and antilock braking system which reduce the chances of crashes to a large extent during acceleration and in harsh driving conditions.

The Asia Pacific market is likely to emerge as a strong contender due to increasing implementation of road safety gears and the design and development of vehicles equipped with safety features. According to International Organization of Motor Vehicle Manufacturers, in 2018, India had witnessed 8% growth in automobile production. China is also a prominent automotive market, the expansion of which will augment APAC electronic stability control system market outlook in the forecast years.

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The massive deployment of technological advancements across the automotive industry will have a favorable influence on the electronic stability control system market. Moreover, the involvement of prominent companies in designing vehicles with advanced safety features are likely to fuel the industry growth in the ensuing years.

A 2018 report by the U.S. National Highway Traffic Safety Administration (NHTSA) suggests that with the introduction of electronic stability control (ESC) systems, there has been a considerable reduction in passenger vehicle crashes by 34% and SUV crashes by 59%. ESC systems also substantially reduce rollover accidents. Nowadays, commercial vehicles are already incorporated with ESC systems and these vehicles are specifically designed to mitigate understeer and oversteer conditions as well as reduce untripped crashes.

The robust implementation of the intelligent vehicle systems in the automotive sector has enhanced safety protocols while driving and has created an efficient transportation system for vehicle users. From high-tech sensors to vehicle roll rate sensors – everything is being implemented by the manufacturers in the latest vehicles to maintain the stability of the vehicles and reduce any kind of mishap in the future.

In order to fortify their stance in electronic stability control system market, several companies are adopting different growth strategies to move ahead of their rivals. In June 2019, ZF Friedrichshafen, a German car parts manufacturer and partner 2GetThere had launched autonomous shuttles in the Middle East and Europe. The main aim of the company is to improve vehicle handling, reduce motion sickness and deliver safe, clean transportation options that are competitive and comfortable as well. Innovative launches such as the aforementioned will create a positive influence on the product demand and augment the Europe industry share.

The enforcement of favorable government policies are likely to impact the industry outlook. In 2018, the Ministry of Road Transport & Highways of India had announced that by 2023 all Indian vehicles should be compulsorily equipped with safety breaking features like autonomous braking and ESC.  This will further generate lucrative opportunities for automotive players in the electronic stability control system market.

Major companies that have captured a prominent proportion of electronic stability control system market share include ZF Friedrichshafen, General Motors (StabiliTrak), Johnson Electric, Robert Bosch GmbH, Autoliv, IAV Engineering, Denso Corporation and Johnson Electric. Global Market Insights, Inc., estimates electronic stability control system industry size to reach US $ 45 billion by 2025.

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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

Browse complete Table of Contents (ToC) of this research report @ https://www.decresearch.com/toc/detail/electronic-stability-control-system-market

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About Author

Ronak Bora

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 spo...

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