Electronic Stability Control System Market to Eyewitness Massive Growth by 2027: Leading Key Players

The rise in implementation of safety features including the traction control systems and anti-lock braking system (ABS) has been driving the electronic stability control system market size. Additionally, the increasing focus toward passenger safety is expected to support the market growth. The electronic stability control system encompasses several devices and sensors which complement each other to achieve vehicle stability. The system is increasingly getting deployed across passenger cars to avoid accidents from vehicle skidding, loss of steering control and sudden braking on slippery surfaces.

It works by individually controlling each wheels of the vehicle according to the situation, thus preventing the vehicle from skidding by aiding better traction for improved steering control. According to a research report by Global Market Insights, Inc., electronic stability control system market size will exceed USD 45 billion by 2025.

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How will the government regulations accelerate electronic stability control system market outlook?

Stringent deployment of government regulations that enforce strict vehicle security standards by mandating implementation of the system across all classes of passenger vehicles will augment the industry share. For instance, according to a new standard by the Ministry of Road Transport & Highways in India, all new cars sold after April 2019 need to integrate ABS systems. Such initiatives will accelerate market trends during the forecast period.

How will the growth of commercial vehicle industry influence the market share?

The commercial vehicle industry has been witnessing steady gains pertaining to the increased demand for goods transport and rapid industrialization. Prior to a decade, safety of commercial vehicles did not gain much importance, of late though, it is getting noticed across multiple commercial vehicles portfolios.

The commercial vehicle manufacturers have started deploying advanced safety features in order to improve vehicle stability. For instance, a leading player known as Bendix sold about 600,000 units of electronic stability control system for the commercial vehicle segment during 2005-2018 in the North America alone.

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How will the Asia Pacific region achieve considerable market share?

The presence of a large automotive industry will foster Asia Pacific electronic stability control system market share. The growing economies of the region such as India and China are expected to witness rapid growth in automotive production. Along with the increasing number of passenger cars owing to rapid urbanization, the commercial vehicle segment too will witness unprecedented growth attributed to the expansion of industrial sector.

Furthermore, the growing preference for vehicle safety will positively impact the regional market growth. The Malaysian government has mandated a rule to implement electronic stability control system across the vehicles sold since 2018. Initiatives such as the aforementioned will augment the APAC ESC system market outlook.

Table of Contents (ToC) of the report:

Chapter 1. Methodology and Scope

1.1. Methodology

1.1.1. Definition and forecast parameters

1.1.1.1. Definitions

1.1.1.2. Assumptions, methodology and forecast parameters

1.2. Data Sources

1.2.1. Primary

1.2.2. Secondary

Chapter 2. Executive Summary

2.1. Electronic stability control system market 360o synopsis, 2015 - 2025

2.1.1. Business trends

2.1.2. Vehicle type trends

2.1.3. Component trends

2.1.4. Regional trends

Chapter 3. Electronic Stability Control System Industry Insights

3.1. Industry segmentation

3.2. Industry landscape, 2015 - 2025

3.2.1. Automotive industry overview

3.2.1.1. Automobile production statistics, 2015 - 2018

3.2.1.1.1. North America

3.2.1.1.2. Europe

3.2.1.1.3. Asia Pacific

3.2.1.1.4. Latin America

3.2.1.1.5. MEA

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