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Electronic Stability Control Market to Exhibit 9.5% CAGR by 2028; Stoked by Increasing Adoption of Advanced Safety Features by OEM Manufacturers

November 15, 2021 | Automotive & Transportation

The global electronic stability control market size is expected to showcase exponential growth and is projected to grow from USD 35.41 billion in 2021 to USD 66.65 billion by 2028. Fortune Business Insights in its report titled, “Electronic Stability Control Market Size, Share & COVID-19 Impact Analysis, By Vehicle Type (Passenger Cars and Commercial Vehicles), By Sales Channel (OEM and Aftermarket), By Component (Hydraulic Modulator, Sensors, ECU, and Others), and Regional Forecast, 2021-2028.”, mentions that the market stood at USD 34.55 billion in 2020 and is projected to exhibit a CAGR of 9.5% between 2021 and 2028.


ZF Introduces Advanced Safety and Energy Feature for its Braking System in Electric Vehicles


In January 2021, ZF Friedrichshafen AG, one of the leading providers of advanced automotive safety features, announced the development of an advanced state-of-the-art braking system. The company reports that the new system will be adopted across the Volkswagen models based on the MEB platform. This system further aids in improving the driving range of electric vehicles, and the software in use facilitates effective networking and feature integration modules. Moreover, it optimizes the braking energy recovery while improving the usability of electric vehicles. Such initiatives by the companies are anticipated to bode well for the growth of the market for electronic stability control during the foreseeable future.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/electronic-stability-control-system-market-105500


Increasing Preference for Advanced Safety Features by Manufacturers to Spur Demand


According to the GOV.UK, around 1,472 road accidents were reported in the U.K. in 2020. The increasing incidence of road crashes has led automotive manufacturers to adopt advanced safety features. They are focusing on developing advanced features such as Autonomous Emergency Braking (AEB), ADAS, and others to cater to the growing demand from the consumers. Additionally, the rising sales of passenger vehicles owing to the high disposable income of the working population globally will contribute to the global market growth during the forecast period.


Product Innovation by Major Companies to Intensify Industry Competition


The global market is fragmented by the presence of major companies trying to maintain a stronghold by developing innovative technologies to cater to the growing demand for autonomy globally. Moreover, the adoption of organic and inorganic strategies by other key players is expected to bode well for the market growth during the forecast period.


Industry Development:



  • March 2018 - Bendix, a part of Knorr-Bremse AG, announced the delivery of over 600,000 units of electronic stability control systems for several commercial and passenger vehicles.


List of the Companies Operating in the Market:



  • Robert Bosch GmbH (Germany)

  • Continental AG (Germany)

  • Denso Corporation (Japan)

  • ZF Friedrichshafen AG (Germany)

  • WABCO (France)

  • Delphi Technologies (U.K.)

  • Autoliv Inc. (Sweden)

  • Hitachi, Ltd. (Japan)

  • Knorr-Bremse AG (Germany)

  • Mando Corp. (South Korea)

  • Johnson Electric (Hong Kong)


Further Report Findings:



  • North America stood at USD 12.98 billion in 2020 and is expected to hold the largest global electronic stability control market share during the forecast period. This is due to the increasing sales of advanced safety features by automotive manufacturers and other OEMs in the region.

  • On the other hand, Europe is expected to hold the second-largest position in the market in the forthcoming years. This is owing to the presence of prominent OEMs in countries such as Germany, the U.K., and Italy that will boost the demand for advanced electronic stability control solutions between 2021 and 2028.

  • Based on the vehicle type, the passenger cars segment held a market share of about 60.3% in 2020. The segment’s dominance is attributable to the growing development of passenger vehicles equipped with advanced safety features such as electronic stability controls.


Table of Segmentation:











































  ATTRIBUTE



  DETAILS



Study Period



  2017-2028



Base Year



  2020



Forecast Period



  2021-2028



Historical Period



  2017-2019



Unit



  Value (USD Billion & Million)



Segmentation



By Vehicle Type



  • Passenger Cars

  • Commercial Vehicles



By Sales Channel



  • OEM

  • Aftermarket



By Component



  • Hydraulic Modulator

  • Sensors

  • ECU

  • Others



By Geography



  • North America (By Vehicle Type, By Sales Channel, and By Component)

    • U.S. (By Vehicle Type)

    • Canada (By Vehicle Type)

    • Mexico (By Vehicle Type)



  • Europe (By Vehicle Type, By Sales Channel, and By Component)

    • U.K. (By Vehicle Type)

    • Germany (By Vehicle Type)

    • France (By Vehicle Type)

    • Rest of Europe (By Vehicle Type)



  • Asia Pacific (By Vehicle Type, By Sales Channel, and By Component)

    • China (By Vehicle Type)

    • India (By Vehicle Type)

    • Japan (By Vehicle Type)

    • South Korea (By Vehicle Type)

    • Rest of Asia Pacific (By Vehicle Type)



  • Rest of World (By Vehicle Type, By Sales Channel, and By Component)


Global Electronic Stability Control Market
  • PDF
  • 2020
  • 2017-2019
  • 200

    CHOOSE LICENSE TYPE

  • 4850
    6850
    8850

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