Electronic Stability Control Market: Recent Developments In The Competitive Landscape Forecast 2027

Electronic Stability Control Market Outlook – 2027

The automotive electronic stability control systems considerably enhance stability and control in vehicles in critical situations. The electronic stability controllers are used to control the vehicle from skidding or losing control and reduce the danger of accidents. The individual vehicle wheel brakes help the driver maintain control of the vehicle during extreme movements. The system starts working when the driver starts losing control over the vehicle. The system applies brakes and stops the vehicle at a smaller distance and reduces the chances of accidents. This is done by keeping the vehicle headed in the direction the driver is steering even when the vehicle nears or reaches the limits of road traction.

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The sensors are fitted in the system, which detects the condition of the vehicle and applies brakes, reducing chances of skidding and brings back the vehicle in normal mode. In addition, the automotive electronic stability control is a computer-based application, which along with sensors like speed sensors, has various other components such as valves, pumps, and controller. The growing demand for safety in the vehicle boosts the electronic stability control systems and is expected to grow further during the forecast period.

COVID-19 scenario analysis:

In nearly every economy around the world either battling to cope with outbreaks of the COVID-19 virus or preparing and monitoring its anticipation, people’s lives have changed dramatically.

Work and travel restrictions in many countries mean that overall, it is likely that fewer journeys are being made. For road safety, this may be an upside as fewer journeys should theoretically mean less crashes.

The reduction in traveling has also been connected to reduced pollution levels across the globe as the pandemic was identified and containment measures applied across the globe.

Fewer people are taking public transport, either because transit services have been canceled partially or completely, or because people are avoiding it because they fear infection.

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Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

Rise in urban population and high demographic rates, rapid motorization, increase in number of road fatalities/accidents, and government initiatives for enhancing road safety are expected to drive the market growth during the forecast period. However, the cyclic nature of automotive sales and production and raw material and commodity prices is anticipated to hamper the growth of the market. Furthermore, the price increase to consumers and the cost incurred at the design and testing phase are expected to offer lucrative opportunities for the market during the forecast period.

The electronic stability control market trends are as follows:

Growth in urban population

As half of the world’s population now lives in urban areas increasingly in highly dense cities. However, urban settings are a relatively new phenomenon in human history. This transition has transformed the way we live, work, travel, and build networks. The growing urban population across the globe in many developed cities has created a huge market and the demand as well, which forced manufacturers to innovate and manufacture. This is expected to boost the electronic stability control market during the forecast period.

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Increase in number of road fatalities/accidents

The road accident severity measured has drastically increased by the number of people killed per accident. Hence, the severity of road accidents has attracted the attention of the ministry of road transport and highways of every developed and developing economies across the globe. The government initiatives for enhancing road safety are expected to boost the electronic stability control market during the forecast period.

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