Press release
Electronic Stability Control (ESC) Market Trends, Market Share, Industry Size, Growth, Opportunities and Market Forecast - 2022 to 2028
The global electronic stability control (ESC) market is anticipated to grow at a CAGR of 3.5% during the forecast period (2022-2028). Electronic stability control is designed to automatically support stabilize car when it detects a momentary loss of control, such as going around a corner too fast. It controls the vehicle from skidding or losing control and reduces the danger of accidents. The system applies brakes and makes the vehicle stop 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. These are the driving factors for the growth of the global electronic stability control (ESC) market. Additionally, an increase in the production of advanced technology vehicles, increase in income of the individuals, and significant rise in the demand for luxury vehicles are some other driving factors for the growth of the market. However, an increase in the trend of reliability and dependency of the customers for electronic components are restraining the growth of the market.A full report of Electronic Stability Control (ESC) Market is available at:https://orionmarketreports.com/electronic-stability-control-esc-market/101854/
The market is segmented based on the vehicle type, sales channel, and component. Based on the component, the market is sub-segmented into hydraulic modulator, sensors, and electronic control unit (ECU). The use of the hydraulic modulator is to assure that each wheel receives the correct brake force. A similar modulator is used in anti-lock braking system (ABS).Sensors are used to determine where the driver intends to travel and other sensors in the vehicle are used to indicate the actual state of the vehicle. An engine control unit (ECU) is used to control a series of actuators on an internal combustion engine to ensure optimal engine performance.
Some major players in the market include Robert Bosch GmbH, Continental AG, and Denso Corp., among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships, new product launches, and collaborations, to stay competitive in the market. For instance, in January 2021, ZF Friedrichshafen AG which is one of the providers of ESC systems introduced new brake systems for electric vehicles.
Market Coverage
The market number available for - 2021-2028
Base year- 2021
Forecast period- 2022-2028
Segment Covered-
By Vehicle Type
By Sales Channel
By Component
Regions Covered-
North America
Europe
Asia-Pacific
Rest of the World
Competitive Landscape- Robert Bosch GmbH,Continental AG, and Denso Corp., among others.
Key questions addressed by the report
What is the market growth rate?
Which segment and region dominate the market in the base year?
Which segment and region will project the fastest growth in the market?
How has COVID-19 impacted the market?
Deviation from the pre-COVID-19 forecast
Most affected region and segment
Who is the leader in the market?
How players are addressing challenges to sustain growth?
Where is the investment opportunity?
Global Electronic Stability Control (ESC) Market Report by Segment
By Vehicle Type
Passengers Cars
Commercial Vehicles
By Sales Channel
OEM
Aftermarket
By Component
Hydraulic Modulator
Sensors
ECU
Media Contact:
Company Name: Orion Market Reports
Contact Person: Mr. Anurag Tiwari
Email: info@orionmarketreports.com
Contact no: +91 780-304-0404
About Us:
Orion Market Reports (OMR) endeavours to provide exclusive blend of qualitative and quantitative market research reports to clients across the globe. Our organization helps both multinational and domestic enterprises to bolster their business by providing in-depth market insights and most reliable future market trends. Our reports address all the major aspects of the markets providing insights and market outlook to global clients.
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