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Electronic Stability Control System Market - Industry Growth Analysis & Forecast By 2025

Author : Ronak Bora | Published Date : 2020-08-21 

Electronic Stability Control System Market is projected to surpass USD 45 billion by 2025. Vehicle stability and traction control systems have become important for improving vehicle safety. The growing need to prevent vehicle skidding due to sudden braking, slippery road surfaces, and loss of vehicle control by drivers have boosted developments in the electronic stability control system market. These systems use a number of sensors, such as wheel speed sensors, lateral acceleration sensors, and steering angle sensors, to determine the required braking forces for individual wheels. Traction control systems and ABS are generally integrated with electronic stability control systems. These systems effectively prevent understeer and oversteer in vehicles, understeer occurs when front wheels do not have sufficient traction and vehicles do not steer and oversteer is caused when rear wheels lose traction and steer more than the driver intended to, creating a risk of accidents.

The commercial vehicles segment is witnessing rapid growth in the electronic stability control system market. The growing awareness about vehicle safety is creating a higher demand for these systems in commercial vehicles. In October 2017, Tata Motors introduced electronic stability control systems for medium & commercial vehicles in India. Companies in the electronic control system market, such as Bendix Commercial Vehicle Systems and WABCO, are introducing newer products for commercial vehicles. In November 2018, WABCO entered into an agreement with the commercial vehicle manufacturer, Hyundai Motor Company for the development of advanced technologies and products, such as electronic stability control systems, anti-lock braking systems, electronic braking systems, and others, for a series production of Hyundai's new medium-duty trucks.

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Government regulations for the implementation of these systems in automobiles are creating a higher demand in the electronic stability control system market. The countries including Japan, Australia, Canada, South Korea, and the European Union have provided mandatory regulations for the implementation of electronic stability control systems. In addition, developing countries are focusing on introducing such regulations for improving vehicle safety. In September 2018, the Ministry of Road Transport and Highway of India announced the government's plan to make automatic emergency braking (AEB) and electronic stability control systems mandatory in cars by 2022-23.

Europe will have high growth potential for the electronic stability control system market owing to the higher demand for vehicle safety features in the region. The presence of a number of players including Robert Bosch, ZF Friedrichshafen, and others are influencing the growth of the market. The presence of EU mandate for the implementation of electronic stability control systems in passenger cars as well as commercial vehicles will further ensure the automotive safety industry growth.

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Robert Bosch GmbH, ZF Friedrichshafen, Continental AG, Autoliv Inc., Hitachi Automotive Systems Ltd., Johnson Electric, Bendix Commercial Vehicle Systems, and WABCO are leading companies in the electronic stability control system market. The growing demand for electronic stability control systems in commercial vehicles is creating higher growth opportunities for the companies. In March 2019, ZF Friedrichshafen AG signed a definitive agreement for the acquisition of WABCO. The company is aiming to position itself as a leading provider of mobility systems for commercial vehicles with this acquisition. The companies are focusing on offering an integrated electronic stability system with ABS and traction control.

The implementation of these systems considerably increases the vehicle cost, which can hamper the industry. The requirement of a number of sensors and control units increases the system complexity, adding to the cost. This is limiting the implementation of these systems in entry-level cars. Higher raw material costs and closing down of production plants by companies, such as General Motors, in the North American region can have a considerable impact on the market growth. However, technological advancements and product developments are expected to bring down the manufacturing costs.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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