Global Electronic Stability Control System Market to Reach US$ 63.8 Billion by 2028, Stimulated by Increasing Concerns Regarding Vehicle Safety

August 28, 2023 | Automotive Industry

According to the latest report by IMARC Group, titled “Electronic Stability Control System Market by Component (Hydraulic Control Unit, Sensors, Electronic Control Unit (ECU)), Vehicle Type (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles), and Region 2023-2028,” the global electronic stability control system market size reached US$ 39.5 Billion in 2022. The electronic stability control (ESC) system is a crucial automotive safety feature designed to enhance vehicle stability and control, particularly during challenging driving conditions or maneuvers. It utilizes a combination of sensors, microprocessors, and actuators to monitor the vehicle's movements and driver inputs. ESC detects instances of understeer or oversteer and intervenes by selectively applying brakes to individual wheels and adjusting engine power. The system operates in real-time, continuously analyzing data such as steering angle, wheel speed, lateral acceleration, and yaw rate. ESC is especially beneficial in adverse weather conditions, emergency maneuvers, or when driving on slippery surfaces. Its widespread adoption has led to significant improvements in vehicle safety, reducing the likelihood of accidents caused by loss of control.

Global Electronic Stability Control System Market Trends:

The global market is driven by the increasing emphasis on road safety and stringent government regulations mandating the integration of advanced safety technologies in vehicles. As governments worldwide prioritize reducing road accidents and fatalities, ESC systems have emerged as a critical component in achieving these goals. Furthermore, the escalating demand for enhanced driving experiences and vehicle performance has also contributed significantly to the growth of the ESC System market. Consumers are increasingly seeking vehicles that provide a smooth and controlled ride, especially in adverse weather conditions or challenging terrains. ESC systems not only enhance vehicle stability during cornering and sudden maneuvers but also improve traction and overall driving dynamics, catering to the demands of performance-oriented customers. Moreover, consumer awareness about the importance of safety features and their impact on insurance premiums has also fueled the adoption of ESC systems. Also, as vehicle manufacturers embrace innovation, ESC systems have evolved to become more sophisticated, integrating with other safety and driver-assistance features such as anti-lock braking systems (ABS), adaptive cruise control, and lane-keeping assistance. Looking forward, the market value is projected to reach US$ 63.8 Billion by 2028, expanding at a CAGR of 8.10% during 2023-2028.

Market Summary:

Based on the component, the market has been segmented into hydraulic control unit, sensors, and electronic control unit (ECU).
On the basis of the vehicle type, the market has been divided into passenger cars, light commercial vehicles, and heavy commercial vehicles. Among these, passenger cars exhibit a clear dominance in the market.
Region-wise, the market has been segmented into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa. Among these, North America holds the leading position in the market.
The competitive landscape of the market has also been examined, with some of the key players being Aisin Corporation, Continental AG, Murata Manufacturing Co. Ltd., Robert Bosch GmbH, ZF Friedrichshafen AG.

Report Scope:

Report Features	Details
Base Year of the Analysis	2022
Historical Period	2017-2022
Forecast Period	2023-2028
Units	US$ Billion
Components Covered	Hydraulic Control Unit, Sensors, Electronic Control Unit (ECU)
Vehicle Types Covered	Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles
Regions Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	Aisin Corporation, Continental AG, Murata Manufacturing Co. Ltd., Robert Bosch GmbH, ZF Friedrichshafen AG, etc.
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Global Electronic Stability Control System Market to Reach US$ 63.8 Billion by 2028, Stimulated by Increasing Concerns Regarding Vehicle Safety

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