The global traction control system market size reached US$ 36.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 53.1 Billion by 2028, exhibiting a growth rate (CAGR) of 6.0% during 2023-2028. The rising expenditure capacities of consumers, the increasing demand for safety features in vehicles, and extensive research and development (R&D) activities represent some of the key factors driving the market.
Traction control system (TCS) refers to an advanced active braking system that helps to maintain the grip of vehicle tires on slippery surfaces and curves to avoid tire slip when accelerating or de-accelerating. It consists of a hydraulic modulator, wheel speed sensors, engine throttle position sensors, stop light sensors, and an electronic control unit (ECU). TCS is designed to provide assistance to drivers in controlling their vehicles by preventing accidents, skidding, improving driving stability, and enhancing road grip, especially on slippery surfaces. It helps to enhance safety and stability in extreme weather conditions, such as rain, snow, and on the surface that provides a lesser amount of grip. As a result, TCS is extensively used in internal combustion engines (ICEs) and electric vehicles (EVs).
Traction Control System Market Trends:
The increasing demand for safety features in vehicles across the globe is one of the key factors driving the market growth. TCS regulates wheel spin and maintains optimal traction, ensuring smooth turns around corners. In line with this, the rising demand for passenger and commercial vehicles is favoring the market growth. TCS is widely adopted as it enhances the vehicle's performance, stability, and safety and offers safety on slippery surfaces by reducing the likelihood of skidding or spinning and improving traction. Apart from this, the introduction of TCS with advanced sensors that helps monitor and control the traction of the vehicle in real-time is providing an impetus to the market growth. Moreover, manufacturers are focusing on the launch of wireless accelerometers in TCS systems that are easy to install, improve reliability, reduce weight and complexity, and help to process data quickly, which, in turn, aids in making more accurate decisions and enhancing the performance and capabilities of the TCS system. This is acting as another growth inducing factor. Additionally, the widespread adoption of TCS systems in high-end and luxurious vehicles, as it enhances the vehicle's handling and responsiveness and reduces the risk of accidents, is positively influencing the market growth. Other factors, including the rising expenditure capacities of consumers, widespread adoption of electric vehicles due to the growing environmental consciousness, increasing awareness about the benefits of TCS systems among consumers, and the implementation of various government initiatives to enhance safety features in vehicles and prevent road accidents, are creating a positive outlook for the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global traction control system market, along with forecasts at the global, regional, and country levels from 2023-2028. Our report has categorized the market based on type, component, vehicle type, and distribution channel.
- Mechanical Linkage
- Electrical Linkage
The report has provided a detailed breakup and analysis of the traction control system market based on the type. This includes mechanical and electrical linkage. According to the report, electrical linkage represented the largest segment.
- Hydraulic Modulators
A detailed breakup and analysis of the traction control system market based on the component has also been provided in the report. This includes hydraulic modulators, ECU, sensors, and others. According to the report, ECU accounted for the largest market share.
Vehicle Type Insights:
- ICE Vehicles
- Electric Vehicles
The report has provided a detailed breakup and analysis of the traction control system market based on the vehicle type. This includes ICE and electric vehicles. According to the report, ICE vehicles represented the largest segment.
Distribution Channel Insights:
The report has provided a detailed breakup and analysis of the traction control system market based on the distribution channel. This includes OEM and aftermarket According to the report, OEM represented the largest segment.
- North America
- Asia Pacific
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, 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. According to the report, Asia Pacific was the largest market for traction control system. Some of the factors driving the Asia Pacific traction control system market included the increasing demand for safety features in vehicles, growing demand for passenger and commercial vehicles, and extensive technological advancements.
The report has also provided a comprehensive analysis of the competitive landscape in the global traction control system market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Advics Co. Ltd. (AISIN CORPORATION), Continental AG, Denso Corporation, Hyundai Motor Group, Mahle Gmbh, Robert Bosch GmbH, ZF Friedrichshafen AG, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
|Base Year of the Analysis
||Mechanical Linkage, Electrical Linkage
||Hydraulic Modulators, ECU, Sensors, Others
|Vehicle Types Covered
||ICE Vehicles, Electric Vehicles
|Distribution Channels Covered
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Advics Co. Ltd. (AISIN CORPORATION), Continental AG, Denso Corporation, Hyundai Motor Group, Mahle Gmbh, Robert Bosch GmbH, ZF Friedrichshafen AG, etc.
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Key Questions Answered in This Report:
- How has the global traction control system market performed so far, and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global traction control system market?
- What is the impact of each driver, restraint, and opportunity on the global traction control system market?
- What are the key regional markets?
- Which countries represent the most attractive traction control system market?
- What is the breakup of the market based on the type?
- Which is the most attractive type in the traction control system market?
- What is the breakup of the market based on the component?
- Which is the most attractive component in the traction control system market?
- What is the breakup of the market based on the vehicle type?
- Which is the most attractive vehicle type in the traction control system market?
- What is the breakup of the market based on distribution channel?
- Which is the most attractive distribution channel the traction control system market?
- What is the competitive structure of the global traction control system market?
- Who are the key players/companies in the global traction control system market?
Key Benefits for Stakeholders:
- IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the traction control system market from 2017-2028.
- The research study provides the latest information on the market drivers, challenges, and opportunities in the global traction control system market.
- The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the traction control system industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.