Traction Control System Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET OVERVIEW

Traction control system helps to accelerate, prevent loss of traction (slippage) of driven road wheels and maintain proper torque between the surface and wheels. The traction control system consists of wheel speed sensors, a hydraulic modulator, and an electric control unit (ECU). The traction control system is an additional protection feature which accompanies the anti-lock braking (ABS) system to offer advanced stability, specifically during tilting and cornering of motorcycles.

MARKET SCOPE

The "Global Traction Control System Market Analysis to 2031" is a specialized and in-depth study of the automotive and transportation industry with a special focus on the global market trend analysis. The report aims to provide an overview of the traction control system market with detailed market segmentation by type, component, vehicle type, and geography. The report provides key statistics on the market status of the leading traction control system market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

•   Based on type, the global traction control system market is segmented into mechanical linkage and electrical linkage.
  
•   On the basis of component, the market is segmented into hydraulic modulators, ECU [electric control unit], and sensor.
  
•   Based on vehicle type, the market is bifurcated into ICE [internal combustion engine] vehicles and electric vehicles.
  

MARKET DYNAMICS
Drivers:

•   Rising demand for high-end vehicles in many developing countries of Asia Pacific region.
  
•   Increasing per capita disposable income to boost market growth of traction control system.
  

Restraints:

•   Unorganized retail sector in few developing countries of the Middle East and Africa region.
  

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The traction control system market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the traction control system market in these regions.

IMPACT OF COVID-19 ON TRACTION CONTROL SYSTEM MARKET

The outbreak of the COVID-19 has severely impacted the automotive, transportation and other related industries adversely. The emergence of COVID-19 virus across the globe which led to lockdown scenarios has led to unprecedented series of border closures across the globe. This disruption of global supply chain has left an adverse impact on the automotive industry. This pandemic restricted movement of people from one place to another. Owing to job losses or salary cuts, buying capacity of the consumer was also reduced. Restrictions of limited workforce at production site affected the traction control market from supply side also. All the mentioned factors have impacted the market negatively. However, post pandemic, this market is expected grow considerably.

Traction Control System Market Report Analysis

Traction Control System Market

• 
  CAGR (2023 - 2031)

  XX%
• Market Size 2023
  US$ XX Million
• Market Size 2031
  US$ XX Million

Report Coverage

• Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope

• Key future trends
• Detailed PEST/Porter’s Five Forces and SWOT analysis

• Industry landscape and competition analysis & recent developments
• Detailed company profiles

• Global and regional market analysis covering key market trends, major players, regulations, and recent market developments

Key Players

• ADVICS Co., Ltd
• Autoliv Inc
• Continental AG
• Denso Corporation
• Hitachi Automotive Systems Americas Inc
• Hyundai Mobis Co., Ltd
• Nissin Kogyo Co., Ltd
• Robert Bosch GmbH
• WABCO Holdings Inc

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

By Type

• Mechanical Linkage
• Electrical Linkage

By Component

• Hydraulic Modulators
• ECU
• Sensor

By VEHICLE TYPE

• ICE Vehicles
• Electric Vehicles

MARKET PLAYERS

The report covers key developments in the traction control system market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from traction control system market are anticipated to lucrative growth opportunities in the future with the rising demand for traction control system in the global market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the traction control system market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•   ADVICS Co., Ltd
  
•   Autoliv Inc
  
•   Continental AG
  
•   Denso Corporation
  
•   Hitachi Automotive Systems Americas Inc
  
•   Hyundai Mobis Co., Ltd
  
•   Nissin Kogyo Co., Ltd
  
•   Robert Bosch GmbH
  
•   WABCO Holdings Inc
  
•   ZF Friedrichshafen AG
  
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Traction Control System Market Report Scope