IMARC Group, a leading market research company, has recently releases report titled “Traction Control System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” The study provides a detailed analysis of the industry, including the global traction control system market size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the traction control system market?
The global traction control system market size reached US$ 36.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 53.1 Billion by 2028, exhibiting a growth rate (CAGR) of 6.0% during 2023-2028.
What is Traction Control System?
A traction control system (TCS) is an automotive technology designed to enhance vehicle stability and control by preventing wheel slip or loss of traction during acceleration. It is a sub-system of the vehicle’s electronic stability control (ESC) system and works in conjunction with the anti-lock braking system (ABS). The primary function of a traction control system is to monitor the rotational speed of the vehicle’s wheels using wheel speed sensors. If the system detects that one or more wheels are spinning faster than the others, indicating potential wheel slip, it intervenes to regulate the power delivery to those wheels. By reducing engine power or applying braking force to the slipping wheels, the TCS helps restore traction and stability.
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What are the growth prospects and trends in the traction control system industry?
The global market is majorly driven by increasing vehicle safety regulations. This can be attributed to numerous initiatives undertaken by the government to enhance vehicle stability and control on account of the growing focus on occupant safety and accident prevention. Moreover, with the rising awareness of vehicle safety and a growing emphasis on personal safety, consumers are actively seeking vehicles equipped with advanced safety technologies. TCS is a highly valued feature among consumers, as it improves traction and stability, providing enhanced control during acceleration, this is propelling the market on the global level. Furthermore, continuous advancements in automotive technology, including the advent of sensors, microcontrollers, and communication systems, are driving the growth of the TCS market since these technological advancements enable the development of more sophisticated and effective TCS systems with improved accuracy, responsiveness, and reliability.
What is included in market segmentation?
The report has segmented the market into the following categories:
Market Breakup by Type:
- Mechanical Linkage
- Electrical Linkage
Market Breakup by Component:
- Hydraulic Modulators
- ECU
- Sensors
- Others
Market Breakup by Vehicle Type :
- ICE Vehicles
- Electric Vehicles
Market Breakup by Distribution Channel:
- OEM
- Aftermarket
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- Advics Co. Ltd. (AISIN CORPORATION)
- Continental AG
- Denso Corporation
- Hyundai Motor Group
- Mahle Gmbh
- Robert Bosch GmbH
- ZF Friedrichshafen AG
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