Press release
Electronic stability control (ESC) System Market 2018 Global Size, Share, Industry Growth Forecast to 2023
Electronic stability control (ESC) System Market Companies Analyzed in report are: Robert Bosch GmbH (Germany), Johnson Electric. (Hong Kong), TRW Automotive Holdings (U.S.), Continental AG (Germany), Delphi Automotive (U.K.), Hitachi Automotive Systems Ltd. (Japan), Autoliv Inc. (Sweden), Toyoda Gosei Co. Ltd (Japan), WABCO Holdings Inc. (U.S.), and Murata Manufacturing Co., Ltd. (Japan). Electronic stability control (ESC) System Market appears to be competitive with the presence of several large and small players operating in the Electronic stability control (ESC) System Market.
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Electronic stability control (ESC) System Market Highlights: Electronic stability control system have the variety of different names, including Dynamic Stability Control, Vehicle Stability Control, Dynamic Stability and Traction Control, StabiliTrak, and Advance Trac. This system considerably enhances stability and control in vehicles, in critical situations. These systems use computer control for individual wheel brakes to help the driver maintain control of the vehicle during extreme movements. 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. The electronic stability control system market is completely dependent on the automotive industry. Thus the increase or decrease in demand of the automotive industry directly has an impact on the market. In 2015, the total four wheeler production was that of almost 90 million units, which is expected to witness further boost and reach more than 100 million units by the year 2020. Hence, this will provide a positive influence on the growth of the market.
Geographic Analysis: Geographically, the global electronic stability control system market has been divided as North America, Europe, Asia Pacific and Rest of the World. North America, of all the regions, has accounted for the largest market share, in 2016, followed by Europe and Asia Pacific. Increasing production of technologically advanced vehicle, and growing investment in R&D in automotive industry, are driving the growth of the market in North America. Asia Pacific is expected to grow at a highest CAGR during the forecast period, driven by the increasing automotive manufacturing activities. Increasing disposable income among individuals and the rising demand for luxury vehicles, are also fueling the market growth. China is the major market in Asia Pacific region. It has emerged as one of the leading markets for electric cars in terms of sales. And as per government reforms, the country has planned to ban the sales of all the petrol and diesel vehicles by 2019. However, the demand for electric car is expected to rise in the future, which will also increase the market growth. Moreover, Japan, Singapore and South Korea governments, are also planning to take such initiatives.
Market Segmentation:
For the purpose of this study, the global electronic stability control systems market has been segmented by vehicle type, and by drive type. By vehicle type, the market has been segmented as passenger car, light commercial vehicle and heavy commercial vehicles of which passenger cars account the largest market followed by LMV and HMV. The passenger vehicle, which essentially carries many passengers, accounts for almost 66% of the global vehicle production. With the rise in income levels, the passenger vehicle segment has witnessed a significant rise in production and sales. Light commercial vehicle segment is the second largest segment in terms of value.
A commercial vehicle is basically a motor vehicle utilized for the purpose of transporting goods or paid passengers. Light commercial vehicles include pickup trucks, and vans. On the basis of drive type, the market has been segmented as rear wheel drive, front wheel drive, and all-wheel drive. The rear wheel drive segment dominates the drive type segment of the market. The all-wheel drive segment is expected to grow at the highest CAGR during the forecast period. Rise in both production of all-wheel drive vehicles and safety concerns among the consumers in North America and Europe, are driving the demand of this segment.
Target Audience of Report: This report mainly focuses on Semi-Trailer manufacturers, Distributer & Supplier companies, and end Users. Investment bankers and consultants with end user for Electronic stability control (ESC) System Market also analyzed. And finally Government and Independent Regulatory Authorities involved with Global Electronic stability control (ESC) System Market are studied in this report. The report for Global Electronic stability control (ESC) System Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. Browse Full Report on Electronic stability control (ESC) System Market @ https://www.marketresearchfuture.com/reports/electronic-stability-control-system-market-4684
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