The qualitative research study introduced by Global Market Insights on Electronic Stability Control System Market Report provides primary Data, surveys, Scope of the Product and vendor briefings. The market dynamic forces have been determined after conducting a detailed study of the Global Electronic Stability Control System Market.
Asia Pacific is expected to witness a considerable growth in the electronic stability control system market owing to the large automotive industry. The countries, such as India, are witnessing rapid growth in automotive production. The steps such as allocation of 100 percent foreign direct investment for the automotive sector have created significant opportunities for automotive manufacturers. The country witnessed 8 percent growth in automotive production in 2018 as per the data by the International Organization of Motor Vehicle Manufacturers. The growing safety regulations also influencing the electronic stability control system market in the Asia Pacific region. The Malaysian government for example introduced a mandatory standard for the implementation of electronic stability program in November 2016, which applies to new vehicles sold in the country from 2018.
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Electronic Stability Control System Market size is set to reach USD 45 billion by 2025; according to a new research report by Global Market Insights, Inc. The global unit shipments will grow at over 9% CAGR from 2019 to 2025.The electronic stability control system market is anticipated to have a lucrative growth with the increasing implementation of safety features such as traction control systems and anti-lock braking system in vehicles.
According to Robert Bosch, 80 percent of the accidents due to skidding can be prevented by the implementation of electronic stability program. These systems can apply individual force to each wheel of the vehicle according to the requirements, preventing it from skidding and providing traction to improve the steering control. The manufacturers are providing these systems integrated with ABS and traction control system to effectively prevent understeer and oversteer, further increasing the demand in the electronic stability control system market.
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The commercial vehicles are expected to create a considerable demand in the electronic stability control system market. The commercial vehicles industry is growing with the increasing demand for goods transport and growth in the industrialization. The safety of commercial vehicles has gained growing importance in recent years. In April 2018 Bendix, one of the leading manufacturers in the industry, announced that it has sold 600,000 units of electronic stability control systems in North America since its launch in 2005. Also, WABCO offers stability systems and modular braking system platforms, particularly for the commercial vehicles, aimed at reducing the system development and installation time of vehicle manufacturers for multiple vehicle portfolios.
Robert Bosch GmbH, Continental AG, ZF Friedrichshafen, Autoliv Inc., Hitachi Automotive Systems Ltd., Johnson Electric, WABCO, General Motors (StabiliTrak), Denso Corporation, IAV Engineering, and Johnson Electric are among the major companies in electronic stability control system market. Cost optimization has become one of the prominent areas of work by manufacturers.
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