The global traction control system market size reached US$ 39.1 billion in 2023. The market is projected to reach US$ 62.9 billion by 2032, exhibiting a growth rate (CAGR) of 5.43% during 2023-2032. The rising expenditure capacities of consumers, the increasing demand for safety features in vehicles, and extensive research and development (R&D) activities represent some of the key factors driving the market.
Traction control system (TCS) refers to an advanced active braking system that helps to maintain the grip of vehicle tires on slippery surfaces and curves to avoid tire slip when accelerating or de-accelerating. It consists of a hydraulic modulator, wheel speed sensors, engine throttle position sensors, stop light sensors, and an electronic control unit (ECU). TCS is designed to provide assistance to drivers in controlling their vehicles by preventing accidents, skidding, improving driving stability, and enhancing road grip, especially on slippery surfaces. It helps to enhance safety and stability in extreme weather conditions, such as rain, snow, and on the surface that provides a lesser amount of grip. As a result, TCS is extensively used in internal combustion engines (ICEs) and electric vehicles (EVs).
Traction control system (TCS) refers to an advanced active braking system that helps to maintain the grip of vehicle tires on slippery surfaces and curves to avoid tire slip when accelerating or de-accelerating. It consists of a hydraulic modulator, wheel speed sensors, engine throttle position sensors, stop light sensors, and an electronic control unit (ECU). TCS is designed to provide assistance to drivers in controlling their vehicles by preventing accidents, skidding, improving driving stability, and enhancing road grip, especially on slippery surfaces. It helps to enhance safety and stability in extreme weather conditions, such as rain, snow, and on the surface that provides a lesser amount of grip. As a result, TCS is extensively used in internal combustion engines (ICEs) and electric vehicles (EVs).
Traction Control System Market Trends
The increasing demand for safety features in vehicles across the globe is one of the key factors driving the market growth. TCS regulates wheel spin and maintains optimal traction, ensuring smooth turns around corners. In line with this, the rising demand for passenger and commercial vehicles is favoring the market growth. TCS is widely adopted as it enhances the vehicle's performance, stability, and safety and offers safety on slippery surfaces by reducing the likelihood of skidding or spinning and improving traction. Apart from this, the introduction of TCS with advanced sensors that helps monitor and control the traction of the vehicle in real-time is providing an impetus to the market growth. Moreover, manufacturers are focusing on the launch of wireless accelerometers in TCS systems that are easy to install, improve reliability, reduce weight and complexity, and help to process data quickly, which, in turn, aids in making more accurate decisions and enhancing the performance and capabilities of the TCS system. This is acting as another growth inducing factor. Additionally, the widespread adoption of TCS systems in high-end and luxurious vehicles, as it enhances the vehicle's handling and responsiveness and reduces the risk of accidents, is positively influencing the market growth. Other factors, including the rising expenditure capacities of consumers, widespread adoption of electric vehicles due to the growing environmental consciousness, increasing awareness about the benefits of TCS systems among consumers, and the implementation of various government initiatives to enhance safety features in vehicles and prevent road accidents, are creating a positive outlook for the market.Key Market Segmentation:
The report provides an analysis of the key trends in each segment of the global traction control system market, along with forecasts at the global, regional, and country levels from 2023-2032. The report has categorized the market based on type, component, vehicle type, and distribution channel.Type Insights:
- Mechanical Linkage
- Electrical Linkage
Component Insights:
- Hydraulic Modulators
- ECU
- Sensors
- Others
Vehicle Type Insights:
- ICE Vehicles
- Electric Vehicles
Distribution Channel Insights:
- OEM
- Aftermarket
Regional Insights:
- 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
Competitive Landscape
The report has also provided a comprehensive analysis of the competitive landscape in the global traction control system market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Advics Co. Ltd. (AISIN CORPORATION), Continental AG, Denso Corporation, Hyundai Motor Group, Mahle Gmbh, Robert Bosch GmbH, ZF Friedrichshafen AG, etc.Key Questions Answered in This Report:
- How has the global traction control system market performed so far, and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global traction control system market?
- What is the impact of each driver, restraint, and opportunity on the global traction control system market?
- What are the key regional markets?
- Which countries represent the most attractive traction control system market?
- What is the breakup of the market based on the type?
- Which is the most attractive type in the traction control system market?
- What is the breakup of the market based on the component?
- Which is the most attractive component in the traction control system market?
- What is the breakup of the market based on the vehicle type?
- Which is the most attractive vehicle type in the traction control system market?
- What is the breakup of the market based on distribution channel?
- Which is the most attractive distribution channel the traction control system market?
- What is the competitive structure of the global traction control system market?
- Who are the key players/companies in the global traction control system market?
Table of Contents
1 Preface3 Executive Summary12 Value Chain Analysis14 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Traction Control System Market
6 Market Breakup by Type
7 Market Breakup by Component
8 Market Breakup by Vehicle Type
9 Market Breakup by Distribution Channel
10 Market Breakup by Region
11 Drivers, Restraints, and Opportunities
13 Porters Five Forces Analysis
15 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Advics Co. Ltd. (AISIN CORPORATION)
- Continental AG
- Denso Corporation
- Hyundai Motor Group
- Mahle Gmbh
- Robert Bosch GmbH
- ZF Friedrichshafen AG
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 142 |
| Published | January 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 39.1 Billion |
| Forecasted Market Value ( USD | $ 62.9 Billion |
| Compound Annual Growth Rate | 5.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 7 |
