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The traction control system is a vehicle safety feature that avoids loss of traction of wheels on roads. Traction control system gets active when throttle input and engine torque does not match with the surface the consumer is driving. The traction control system is commonly used in modern vehicles and acts as one of the vital safety features. This system works efficiently even in extreme weather conditions like snow, rain, ice, and on the surface that provides a lesser amount of grip. In past years consumers had to apply light pressure on the accelerator pedal with no traction control system and avoid the spinning of wheels on slippery roads.
Key Market Driver -
Growing demand for safety features is expected to drive the market.
Key Market Restraint -
High maintenance cost is expected to hamper the growth of the market.
The traction control system consists of various sensors like battery level sensors, vehicle speed sensors, stop light sensor and throttle position sensors. The operation of the traction control system is similar to ABS; it has a wheel speed sensor that monitors the rotation of front wheels or all four wheels. The electronic control unit (ECU) monitors the rotation of all the wheels and indicates which wheel is losing traction. In such a case, ECU commands to apply the required amount of brake to the wheel that is losing traction. High maintenance costs and chances of ECU dysfunctioning are expected to hinder the growth of the traction control system. In past years four-wheel drive was used to control the speed of each wheel; this consisted of many mechanical linkages that increased the weight of the vehicle, caused a lot of emissions, and was fuel consuming. Therefore, the traction control system is equipped in vehicles to meet emission and safety standards set by the government globally.
Some of the major companies that are present in the automotive traction control system market include Robert Bosch Gmbh, IAV automotive engineers, Continental AG, Mahle Group, ZYNP International, Cummins Inc. Slinger manufacturing, Federal-Mogul corporation, BMW Motorrad, and Ducati motor, among the other players.
The global traction control system market has been segmented into type, vehicle type, and region. By vehicle type, the global traction control system market is segmented into passenger cars, light commercial vehicles, and heavy commercial vehicles. The passenger car segment is expected to dominate the traction control system market owing to the rising production of passenger cars in countries like India, China, U.S, and others. LCV segment is also expected to hold the second-largest position in the market during the forecast period amid increasing demand for the traction control system by the transport and logistics sector. By type, the traction control system is segmented into the mechanical and electric linkage. The electric linkage segment is expected to dominate the market over the forecast period. Electronic coupling reduces the weight of the vehicle by replacing the mechanical linkage by electrical linkages/components. This helps to achieve better fuel efficiency and less emission to meet emission norms set by the government.
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By geography, the global traction control system market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. Asia Pacific is expected to dominate the traction control system market owing to increasing vehicle production and sales in the region. Manufactures in this region are focusing more on developing technologically advanced traction control systems to attract more consumers and to have an edge compared to their competitors. India, South Korea, Japan, and China are the leading automotive manufacturing countries, which are propelling the development of the market in the region. North America is expected to hold the second-largest share in the market. Increasing investment in research support and development of vehicle safety features is likely to contribute to regional growth. Rising adoption of safety systems in developed countries like the US, Canada, and Mexico is expected to drive the market in this region. Europe is also expected to steady growth over the forecast period.
By Vehicle Type
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