Base Year
Historical Year
Forecast Year
The global traction control system market reached a value of about USD 38.33 billion in 2023. The market is further expected to grow at a CAGR of 6.5% in the forecast period of 2024-2032 to reach a value of approximately USD 67.43 billion by 2032.
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Based on vehicle type, the electric vehicle segment is expected to witness a steady growth rate over the forecast period. This can be attributed to the increasing demand for environmentally friendly vehicles to reduce carbon emissions in the environment. Further, developed regions like Europe are making significant investments to encourage people to shift to electric vehicles, which will aid the industry growth.
The global traction control system industry is expected to be dominated by the Asia Pacific region. The demand is growing in the region due to the increasing vehicle safety standards, coupled with the favourable government initiatives to prevent road accidents across the region. It has been estimated that road accidents are one of the major causes of death across the globe. The market is further supported by the increasing demand for luxurious cars and the escalating consumer disposable incomes in the region. Other significant regions for the market include North America and Europe.
Traction control system refers to an advanced active braking system that is designed to provide assistance to drivers in controlling their vehicles. In automobiles, this system gets activated when it senses that wheels may slip, thus, preventing accidents by allowing drivers to make the most of the traction available on the road surface.
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Based on type, the market is divided into:
By component, the industry can be segmented into:
On the basis of distribution channel, the industry is bifurcated into:
Based on vehicle type, the market can be categorised into:
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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The growing focus on road safety and the rising demand for advanced safety systems, such as traction control system, are aiding the industry growth. The market is further supported by the rapid advancements in technology and increasing demand premium and luxurious cars. Other factors propelling the industry growth include the growth of the automotive industry, increasing disposable incomes, and stringent government regulations regarding vehicle safety.
Over the forecast period, automation in vehicles, like driverless cars, is expected to result in enhanced demand for automotive safety systems. As a consequence, there is expected to be a steady demand for automotive traction control system, thus, aiding the overall market growth.
The report gives a detailed analysis of the following key players in the global traction control system market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Component |
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| Breakup by Distribution Channel |
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| Breakup by Vehicle Type |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the market attained a value of nearly USD 38.33 billion.
The market is projected to grow at a CAGR of 6.5% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 67.43 billion by 2032.
The major drivers of the market include the rising disposable incomes, growing automotive market, increasing awareness regarding road safety, and stringent government regulations.
The increasing demand for automotive traction control system and growing demand for improved vehicle safety systems, are expected to be the key market trends of the market.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The leading types of traction control system in the market are electrical linkage and mechanical linkage, among others.
The major components of traction control system in the market are hydraulic modulators, sensors, and electronic control unit, among others.
The significant distribution channels in the market are OEM and aftermarket.
The leading vehicle types in the market are passenger car, light commercial vehicle, heavy commercial vehicle, and electric vehicles, among others.
The major players in the global traction control system market are Robert Bosch GmbH, MAHLE GmbH, DENSO Corporation, Continental AG, and Hyundai Motor Group, among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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