PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1148040
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1148040
Electronic Stability Control System Market size was USD 35,008.8 million in 2021. The market is anticipated to grow at a CAGR of 9.5% in the 2022-2028 period.
Electronic Stability Control (ESC), sometimes known as the electronic stability programme, is a type of active safety system that may be installed in vehicles such as automobiles, coaches, buses, and trucks. The system is an antilock braking technology extension that includes a speed sensor and independent braking for all four wheels. The fundamental goal of ESC is to keep the vehicle from sliding in a variety of driving circumstances and situations. To avoid vehicle sliding, the system detects crucial driving circumstances and provides particular brake pressure to one or more wheels.
Market Dynamics
The increasing development and implementation of autonomous mobility is expected to generate profitable chances for electronic stability control system market growth. Furthermore, safety is a selling factor for driverless cars; hence, demand for increased safety features in these autonomous vehicles is positively affecting market growth. Furthermore, one of the primary factors projected to boost market growth is the expanding electrification of automobiles. Almost all new electric vehicles include enhanced safety systems such as autopilot, ESC, and others. As a result, increased EV adoption and the expansion of EV charging infrastructure are likely to boost market growth throughout the projection period.
Furthermore, in order to produce completely autonomous vehicles, level 5 vehicles must be outfitted with numerous safety systems such as ADAS, and ESC. As a result, manufacturers' increasing investment in R&D operations to build completely autonomous vehicles is likely to drive market growth in the next years. In April 2017, for example, Bosch and Daimler announced a collaboration to create fully automated (SAE Level 4) and driverless (SAE Level 5) driving.
The electronic stability control system market is expanding as end users place a greater focus on vehicle safety. However, the COVID-19 scarcity of microprocessors is impeding the growth of the electronic stability control system industry. Meanwhile, rising homologation standards throughout the world are expected to boost the electronic stability control system market.
Segmentation Analysis:
Electronic Stability Control System is segmented on the basis of Vehicle Type, Sales Channel and Region.
The market is divided into two categories based on vehicles: passenger automobiles and commercial vehicles.
Due to increased demand for premium passenger vehicles with improved safety features, the passenger car sector retained the biggest market share of 60.3 percent in 2020. Furthermore, government laws and regulations requiring the use of ESC in passenger cars boost market growth. Various automakers, including Daimler, Toyota, and others, produce passenger vehicles with pre-installed ESC systems. Other mid-tier car manufacturers intend to integrate ESC in their passenger vehicles because to the growing number of safety rules.
The market is divided into OEM and aftermarket segments based on the sales channel.
The OEM sector accounted for 94.9 percent of the market in 2020 and is likely to maintain its dominance in the years ahead. The focus of automakers on developing vehicles with pre-installed ESC is anticipated to augment market development. Furthermore, regulatory guidelines for ESC installation push OEMs to include these systems in their cars. Furthermore, increased rivalry among OEMs to supply updated safety features for market consolidation are some of the variables likely to affect segment growth in the next years.
Competitive Landscape:
The biggest competitors in the worldwide industry are consolidating. The major manufacturers are broadening their product portfolios in order to deliver a stability control system that is compatible with a wide range of passenger and large commercial vehicles. Furthermore, leading automakers intend to collaborate on the development of an autonomous driving system with improved safety measures.
For example, Bosch and Daimler collaborated to create fully automated (SAE Level 4) and driverless (SAE Level 5) driving systems. Likewise, manufacturers also use a variety of sensors to improve system accuracy and reinforce their market position.
Key features of the study:
This proposed research study on Electronic Stability Control System Market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2022-2028), considering 2021 as the base year
The research report elucidates potential growth opportunities across different segments/countries and explains attractive investment proposition matrix for Electronic Stability Control System Market
The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the Electronic Stability Control System Market
Impact of COVID-19 on Electronic Stability Control System Market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on Electronic Stability Control System Market post-COVID will also be covered.
In order to give the users of this report a comprehensive view on the Electronic Stability Control System Market, we have also included competitive landscape and key innovator analysis for the Electronic Stability Control System Market.
The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
The report offersdetailed company profiling featuring major market participantswhich will help users to understand their financial information and strategic initiatives of players operating in the Electronic Stability Control System Market.
In addition, the report also unveil the important acquisitions & mergers, collaborations & joint ventures, new launch, research & development, regional expansion of major participants involved in the market on global as well as regional level.
The global Electronic Stability Control System Market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL ELECTRONIC STABILITY CONTROL SYSTEM MARKET KEY PLAYERS
AISIN GROUP
Autoliv
ADVICS CO., LTD.
Knorr-Bremse AG
Continental AG
Hitachi Automotive Systems, Ltd.
Bosch Mobility Solutions
Johnson Electric Holdings Limited
Murata Manufacturing Co., Ltd.
ZF Friedrichshafen AG
GLOBAL ELECTRONIC STABILITY CONTROL SYSTEM MARKET, BY VEHICLE TYPE
Passenger Cars
Commercial Vehicles
GLOBAL ELECTRONIC STABILITY CONTROL SYSTEM MARKET, BY SALES CHANNEL
OEM
Aftermarket
GLOBAL ELECTRONIC STABILITY CONTROL SYSTEM MARKET, BY REGION
North America
The U.S.
Canada
Europe
Germany
France
Italy
Spain
United Kingdom
Russia
Netherlands
Sweden
Poland
Rest of Europe
Asia Pacific
India
China
South Korea
Japan
Australia
Thailand
Indonesia
Philippines
Rest of APAC
Latin America
Brazil
Mexico
Argentina
Colombia
Rest of LATAM
The Middle East and Africa
Saudi Arabia
United Arab Emirates
Israel
Turkey
Algeria
Egypt
Rest of MEA