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Europe And Asia Pacific To Hold Prominent Share of Global Automotive Electronic Stability Control System Market

11-26-2021 05:39 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: TMR

The automotive electronic stability control system is a new braking system designed to help control and maintain lateral stability of the vehicle. Electronic stability prevents the vehicle from skidding and subsequently, from a crash. According to Bosch GmbH, every year, 32,000 people die in a traffic crash in the U.S., and the electronic stability control system is highly effective to prevent such accidents.

Electronic stability control system comprises a wheel speed sensor and electronic control unit. The wheel speed sensor senses the speed of the vehicle and detects a slip occurring between the tire and the road. If the slip occurs between the road and the tire, the electronic stability control system reduces the wheel speed. In 1985, Robert Bosch invented the first electronic stability control system and Mercedes Benz were the first car company to use the electronic stability control system.

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Rise in demand for advance safety features including electronic control system and anti-lock braking system in vehicles is anticipated to boost the electronic stability control system market across the globe. According to National Highway Traffic Safety Administration, one-third of road accidents can be prevented by using the safety features including electronic brake force distribution and traction control system in vehicles. From April 2019, the Ministry of Road Transport and Highway in India made the incorporation of anti-lock braking system mandatory in every new vehicle, which in turn is likely to propel the automotive electronic stability control system market in India.

Rising road safety awareness among people combined with substantial increase in adoption of advance drive assist systems in the vehicles are projected to boost the automotive electronic stability control system market. According to Robert Bosch GmbH, upto 80% of all skidding accidents can be prevented by using the electronic stability control system. Canada Transport mandates the electronic stability control system in a vehicle that has been manufactured post 2012. This, in turn, is expected to fuel the automotive electronic stability control system market across the globe.

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Europe is projected to account for a notable share of the global automotive electronic stability control system market due to significant presence of automotive industries and enactment of stringent rules regarding the installation of safety features in vehicles in the region. Rise in demand for advance drive assistance systems in vehicles is estimated to boost the automotive electronic stability control system market in Europe. Europe has presence of major original equipment manufacturers as well as Tier-1 suppliers, such as Robert Bosch, Continental AG, and Delphi Technologies, who are leading companies and have major research and development facilities for safety system. This is estimated to propel the automotive electronic stability control system market in Europe.

Followed by Europe, Asia Pacific is projected to hold a major share of the global automotive electronic stability control system market due to an increase in vehicle production and sale in the region. Furthermore, high rate of adoption of advance drive assistance system in China, South Korea and Japan is estimated to boost the automotive electronic stability control system market in Asia Pacific.

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The global automotive electronic stability control system market is highly concentrated owing to the presence of top manufacturers. A few of the key players operating in the global automotive electronic stability control system market are Continental AG, Robert Bosch GmbH, ZF Friedrichshafen AG, Denso Corporation, Delphi Technologies, Valeo Inc., Mando Corporation, Johnson Electric Holdings Ltd, Autoliv Inc., WABCO, and Knorr- Bremse AG

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