What is Automotive Electronic Stability Control Systems Market?
Automotive Electronic Stability Control Systems help drivers stabilize their vehicles in case of any oversteering or understeeering, thereby, providing advanced safety to passengers and help mitigate the effect of any unexpected accidents. As per world health organization (WHO) figure of 2018, more than 1.35 million people die each year globally with over 90% of accidents taking place in low and middle income countries. Such a high rate of road accidents demands robust ESC systems which turned out to be a great opportunity for service providers amid stringent government norms regarding road safety.
Highlights from Automotive Electronic Stability Control Systems Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Hitachi [Japan], Continental AG [Germany], Fujitsu Ten [United States], Bosch [Germany], Johnson Electric [Hong Kong], Delphi Automotive [Ireland], Honeywell [United States], WABCO [Belgium], TRW Automotive [United States], Autoliv [Sweden] and Toyoda Gosei [Japan] |
Research Analyst at AMA predicts that United States and German Vendors will contribute to the maximum growth of Global Automotive Electronic Stability Control Systems market throughout the forecasted period.
Hitachi [Japan], Continental AG [Germany], Fujitsu Ten [United States], Bosch [Germany], Johnson Electric [Hong Kong], Delphi Automotive [Ireland], Honeywell [United States], WABCO [Belgium], TRW Automotive [United States], Autoliv [Sweden] and Toyoda Gosei [Japan] are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Knorr-Bremse [Germany], Hyundai Mobis [South Korea], Aisin Seiki [Japan], Robert Bosch GmbH [Germany] and Bendix Corporation [United States]. Automotive Electronic Stability Control Systems Market Segmentation:
Scope | Sub-Segments |
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Type | Electrical Brake Distribution, Anti-lock Brake System, Traction Control System, Vehicle Dynamic Control and Other |
Vehicle type | Commercial Vehicles (Light Commercial Vehicles and Heavy Commercial Vehicles),Passenger Cars (Hatchbacks |
On the basis of geography, the market of Automotive Electronic Stability Control Systems has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Sweden, Belgium, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Emphasizing on Autonomous in Automotive Industries Coupled with Introduction of V2x (Vehicle to Everything) Technology
Market Growth Drivers:
Growing Focus Towards Safety Amid Increasing Number of Road Accidents, ESC System Ability to Offer Stability and Controllability of Vehicles in Critical Situations and Increasing Sales of Automotive Fueled by Growing Disposable Income in Emerging Countries
Challenges:
Fluctuating Raw Materials and Commodity Prices of ESC Components and Complexity Involved in Reconfiguring and Validating of ESC System for Each Vehicles
Restraints:
Cost Incurred in Design and Testing Phase Leading to Rise in Overall Vehicle's Cost and Difficulty in Integration of ESC System Across Vehicles Owing to Varying Driving Characteristics
Opportunities:
Stringent Government Regulations Regarding Road Safety in Emerging Countries and Rise in Demand of Electric and Hybrid Vehicles with Added Safety Features
Key Target Audience
Raw Material Suppliers to Automotive Electronic Stability Control Systems Component manufacturers, Manufacturers of Automotive Electronic Stability Control systems, Traders, Distributors and Suppliers of Automotive Electronic Stability Control Systems components, Automobile Industry as end user, System Integrators, Industry associations, Research Institutes, Government Agencies, Potential Technology Investors and Others
Market Leaders & Development Strategies
In October 2022, Johnson Electric announced the acquisition of an 80% stake in Pendix GmbH, an established technology-based market player in the e-bike industry. Headquartered in Zwickau, Germany, Pendix designs, manufactures, and markets fully electric cargo bikes and electric drives for bicycles. Pendix's products combine the best of innovation with a very high level of product reliability.
Recently in January 2019, Japanese automotive parts manufacturing company Hitachi Automotive Systems developed a technology to precisely detect the irregularities on the road surfaces. The company plans to develop drive control system by combining this technology with vehicle's suspension technology to provide vehicle stability with regards to road surface.
Rules regarding deployment of ESC system vary across the nations. Canada has made it mandatory to have ESC system for all new passenger vehicles made from September 2011. Soon, Australian government followed the suits. European parliament has mandated ESC system for all commercial vehicles sold in European Union (EU) from 2012. Moreover, the United Nations Economic Commission for Europe has passed a Global Technical Regulation to harmonize ESC standards.