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At 6.7% CAGR, Traction Control System Market Size Set to Register $44.14 Billion by 2024

The global traction control system market is projected to hit $44.14 billion by 2025 with a CAGR of 6.7% during 2018 to 2025 driven by the rise in demand for safety applications.

/EIN News/ -- Portland, OR, June 13, 2019 (GLOBE NEWSWIRE) -- Traction control system is an advanced active braking system used in automobiles, which helps drivers to control their vehicles. Traction control serves two main purposes stop the driver losing control and reduce unnecessary tire wear. The system is designed to maintain traction with the road surface, in line with the braking inputs given by the driver. In case of slippery surface, the vehicles lose its traction resulting to high chances of accidents and road fatalities. The vehicles equipped with traction control system make effective use of all the traction available on the road when accelerating on low-friction road surfaces.

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With the rise in trend for safety features and increase in government mandates towards safety are boosting the traction controls system market growth. Robert Bosch and Continental are some of the leading key players operating in the traction control system market.

The Traction Control System Market segmentation is based on type, component vehicle type, and region. The type segment is further divided as mechanical linkage and electrical linkage. based on component includes hydraulic modulators, ECU, and Sensors. Depending upon the vehicle type the traction control system market is further divided into ICE vehicles [passenger cars & commercial vehicles] and electric vehicles battery [electric vehicles (BEV), & plug-in hybrid electric vehicle (PHEV)]. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key players analyzed in the traction control system market players includes, Robert Bosch GmbH (Germany), Continental AG (Germany), Autoliv, Inc. (Sweden), Nissin Kogyo Co. Ltd. (Japan), WABCO (Belgium), ZF TRW (U.S.), Hyundai Mobis (South Korea), Denso Corporation (Japan), Hitachi Automotive Systems, Ltd. (U.S.), and ADVICS Co., Ltd (Japan).

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Key Benefits for Stakeholders

• The report includes an in-depth analysis of different segments and provides market estimations between 2018 and 2025.

• Porter’s five forces model illustrates the potency of buyers & sellers, which is estimated to assist the market players to adopt effective strategies and understand traction control system market growth.

• Key market players are profiled to gain an understanding of the strategies and traction control market opportunity tapped by the key players.

• This report helps to understand the traction control system market trends and future estimations from 2018 to 2025, which helps identify the prevailing market opportunities.

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