Asia Pacific electronic stability control system market is anticipated to bring about strong growth trends in ESC 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.
The improving safety regulations are anticipated to influence the electronic stability control system market throughout the forecast period. Furthermore, the increasing consumer focus and awareness towards buying safer cars will foster ESC market growth. Global Market Insights, Inc., reports that electronic stability control system market size will reach USD 45 billion by 2025.
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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.
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.
By Vehicle Type
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- Hydraulic unit
- Electronic control unit (ECU)
The above information has been provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Of late, India-based multinational automotive manufacturing companies have been working to launch medium and heavy commercial vehicles with electronic stability control with an aim to make Indian roads safer and more secure. The growing adoption of ESC systems and increasing number of safety innovations in several vehicles will further strengthen the regional electronic stability control system industry size.
Browse key industry insights spread across 170 pages with 183 market data tables & 23 figures & charts from the report, “Electronic Stability Control System Market” in detail along with the table of contents:https://www.gminsights.com/industry-analysis/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.
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