According to Markntel Advisors Report, Traction Control System Market is expected to grow at a significant growth rate, and the analysis period is 2025-2030, considering the base year as 2024.Consistent monitoring and evaluating of market dynamics to stay informed and adapt your strategies accordingly. As a market research and consulting firm, we offer market research reports that focus on major parameters including Target Market Identification, Customer Needs and Preferences, Thorough Competitor Analysis, Market Size & Market Analysis, and other major factors. At the end, we do provide meaningful insights and actionable recommendations that inform decision-making and strategy development.
The traction control system is an active braking system that is integrated into automobiles to help the driver in controlling the car. It makes certain that the wheels of the vehicle always adhere to the road surface through a differential proportional response to the driver’s application of the brake pedal. In essence, the system comes into operation when there is what can be referred to as wheel slip and gets to optimize the traction on the road.
Traction Control System Market Research Report & Summary:
The Global Traction Control System Market size was valued at USD 38.7 Billion in 2023 and is expected to reach USD 58.6 Billion by 2030, exhibiting a growth rate (CAGR) of 5.9% during the forecast period, i.e., 2025-30.
Time Period Captured in the Report:
- Historical Years: 2020-2023
- Base Years: 2024
- Forecast Years: 2025-2030
Who are the Key Players Operating in the Traction Control System Market?
The top companies of the Traction Control System Market ruling the industry are:
Goss, Robert Bosch Gmbh, Continental AG, Eaton Cummins Automated Transmission Technologies, Denso Corporation, Autoliv Inc., ZF Friedrichshafen AG, Advics, IAV Automotive Engineers, Delphi Powertrain Systems, Infineon Technologies AG, Knorr Bremse AG, Ford Motorcraft Company, Lenord Bauer & Co. Gmbh,, SKF, NTN Corporation, Others
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What is Included in Traction Control System Market Segmentation?
The Solar Water Desalination Plant Market explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic. The further bifurcations are as follows:
- By Component
- Hydraulic Modulators- Market Size & Forecast 2020-2030, USD Million
- Electronic Control Unit (ECU)- Market Size & Forecast 2020-2030, USD Million
- Brake Actuators- Market Size & Forecast 2020-2030, USD Million
- Sensors- Market Size & Forecast 2020-2030, USD Million
- Others- Market Size & Forecast 2020-2030, USD Million
- By Type
- Mechanical Linkage- Market Size & Forecast 2020-2030, USD Million
- Electrical Linkage- Market Size & Forecast 2020-2030, USD Million
- By Vehicle Type
- Passenger Vehicles- Market Size & Forecast 2020-2030, USD Million
- Commercial Vehicles- Market Size & Forecast 2020-2030, USD Million
- By Propulsion Type
- ICE Vehicle- Market Size & Forecast 2020-2030, USD Million
- Electric Vehicle- Market Size & Forecast 2020-2030, USD Million
- By Distribution Channel
- OEM- Market Size & Forecast 2020-2030, USD Million
- Aftermarket- Market Size & Forecast 2020-2030, USD Million
- By Region
- North America
- South America
- Europe
- Middle East & Africa
- Asia-Pacific
Explore the Complete Traction Control System Market Analysis Report – https://www.marknteladvisors.com/research-library/traction-control-system-market.html
Traction Control System Market Driver:
Increasing Focus Towards Road Safety to Prevent Accidents– Governments and safety organizations globally increased their standards and policies on road safety and awareness. This has been primarily to reduce the number of road accidents across the globe, as these accidents have been frequently taking multiple lives across the world. Countries such as India, Brazil, Australia, etc., have been experiencing a significant rise in the number of road accidents during the historical years. Hence, observing the damage caused by the increasing number of road accidents, governments across the globe have introduced stricter road safety regulations which also include automobile safety. These efforts to establish road safety have been putting pressure on automotive companies to equip vehicles with better safety technologies such as Traction Control Systems (TCS). Hence, this has led companies to launch vehicles with Traction Control Systems, which offer better safety solutions to the consumers. For instance,
- In 2024, JLR introduced the features of its upcoming Range Rover electric car, which would be equipped with a traction control system to enhance its capability to run on all types of terrain.
Thus, with the launch of models with traction control solutions globally, their demand would escalate significantly in the coming years. Also, as consumers are expected to prefer vehicles ensuring road safety, the production of these models would ramp up in the forecast years. Hence, this would help in driving the demand for traction control systems as well in the future.
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