Electronic Stability Control System Market Overview
Electronic
Stability Control System Market Size is expected to be valued at USD 35,410
Million with a CAGR of 9.5% Forecast by 2030
The increasing demand for road safety, rising need for ESC programs
in traffic control and automotive industry has propelled the market growth in
past years and will also continue to be the major market drivers in the
forecasted period.
During Covid-19 pandemic the Global Electronic Stability Control
System Market has witnessed a huge drawback as the automotive industry was also
affected during lockdowns and restrictions. But both of these markets are
expected to recover rapidly in post pandemic time.
Electronic Stability Control System
Market Key Players
·
Robert Bosch GmbH (Germany)
·
Johnson Electric (Hong Kong)
·
TRW Automotive Holdings (U.S.)
·
Continental AG (Germany)
·
Delphi Automotive (U.K.)
·
Hitachi Automotive Systems Ltd.
(Japan)
·
Autoliv Inc. (Sweden)
·
Toyoda Gosei Co. Ltd (Japan)
·
WABCO Holdings Inc. (U.S.)
·
Murata Manufacturing Co. Ltd.
(Japan)
Electronic Stability Control System
Market Research Methodologies
A business intelligence study on the
Electronic Stability Control System Market presents a comprehensive evaluation
of the demand trends and growth opportunities during the forecast period of 2023
– 2030.
The insights in the report present a
scrutiny of the nature and size of the target customers, changing consumer
needs and preferences, and strategies used to generate customer value by
various companies and market players during the assessment/historical period.
The market analysts adopt robust date science frameworks and cutting-edge
methods to understand the consumer behavior in the Electronic Stability Control
System market and the underlying revenue streams for various businesses.
Electronic Stability Control System Market Segmentation
The Global Electronic Stability Control System Market has segmented
into component type, Vehicle type, sales channel and region.
Based on the Vehicle type, the market is divided into Passenger Cars
and commercial cars. The passenger segment especially the luxury passenger cars
holds the largest Global Electronic Stability Control System Market share
and will also have a lucrative growth in future.
Based on the sales channel, the market is divided into OEM and
aftermarket. The OEM segment holds the largest market share and predicted to
have a significant amount of Global Electronic Stability Control System
Market revenue within the forecasted period.
Electronic Stability Control System Regional Classification
According to the regional classification the Global Electronic
Stability Control System Market is
divided into North America, Europe, Asia Pacific and the other regions.
North America region holds the largest Global Electronic
Stability Control System Market size due to the increasing demand
for advanced automotive vehicles, improving traffic safety etc in this region.
Europe is predicted to hold the second largest position in the
upcoming years.
Asia Pacific will be the fastest growing market due to technological
advances and increasing use of advanced automotive vehicles in this region. The
region will hold a significant amount of Global Electronic Stability Control
System Market revenue in future.
Electronic Stability Control System Industry News
Some major companies in the Global Electronic
Stability Control System Market Share are Continental AG, Robert Bosch
GmbH, WABCO, Hitachi Ltd., Mando Corp., Autoliv Inc., ZF Friedrichshafen AG, Delphi
Technologies, Johnson Electric, Denso Corporation etc. These key companies are
looking forward to enhance their production capacity, technological
improvements, new product launches, collaborations and acquisition to
strengthen their grip over the global market and make a strong position in this
highly competitive market.
·
In March 2018, Bendix a
subsidiary of Konrr- Bremse AG has announced
its completion of 600,000+ ESP units delivery. This results in to the expansion
of production capacity of the company.
·
In January 2021, the ZF
Friedrichshafen AG has launched a latest vehicle brake system in the global
market. This launch was intended to increase the consumers base and meet the
market demands.
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