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What's Driving the Electronic Stability Control System Market Growth? Top Key Players AISIN SIEKI, Autoliv, Advics, Bendix Commercial Vehicle Systems, Continental, Denso, General Motors, Hitachi Automotive Systems, Hyundai Mobis, IAV Engineering, Johnson

03-24-2020 01:33 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Global Market Research

Electronic Stability Control System Market

Electronic Stability Control System Market

Asia Pacific is anticipated to bring about strong growth trends in electronic stability control system market credited to the large automotive industry in the region. The presence of two of the fastest growing emerging countries, China and India, representing massive automotive production, will propel the regional industry share.

The increasing implementation of safety features in automobiles is expected to drive electronic stability control system market. The automotive industry has been witnessing significant rise in utilization of vehicle safety features like traction control system and ABS (anti-lock braking system). The growing awareness of such systems in emergency driving situations on the road, is drawing government attention, making them a compulsion for auto manufacturers.

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The growing demand for both passenger and commercial vehicles worldwide, owing to the rise in industrialization complemented by the increasing per capita income and easy credit availability will fuel automobile sales, bolstering electronic stability control system market size. The ESC system comprises a combination of microprocessors, sensors, and an ABS unit which work in coordination with each other. The system completely relies on real-time data gathered from live sensors based on which the microprocessor controls the ABS unit, and all of this happens within a timeframe of milliseconds

Electronic stability control system enhances the braking, traction, and skid control; therefore, it helps drivers to avoid accidents from the wheel slip due to over acceleration and braking in harsh driving conditions. And this is typically true for today's high torque engines, where regulation of wheel slip and traction control can considerably increase the safety and comfort while driving on slippery surfaces.

Reportedly, about 80 percent of accidents occur due to vehicle skidding which necessitates the requirement of electronic stability control. Currently, the ESC systems have integrated with ABS and traction control system, further helping to achieve the benefits of vehicle stability control. The increasing number of casualties due to road accidents resulting from the loss of traction will enhance electronic stability control system industry outlook.

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The growing demand for the safest personal cars pertaining to the increase in standard of living and wide availability of credit sources will fuel product demand in the passenger vehicle segment, further fostering the electronic stability control market share. Also, the commercial vehicles are on a high demand owing to the rising necessity of goods transportation ensued by growing urbanization and industrialization.

The improving safety regulations are anticipated to influence the electronic stability control system market throughout the forecast period. Furthermore, the increasing consumer focus and awareness towards buying safer cars will foster electronic stability control system market growth. The electronic stability control system industry size will reach USD 45 billion by 2025.

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