Portland, OR, Dec. 01, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global electronic stability control market generated $8.4 billion in 2021, and is estimated to reach $18.3 billion by 2031, witnessing a CAGR of 8.3% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscape, and competitive scenario. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.
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Electronic Stability Control Industry Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $8.4 Billion |
| Market Size in 2031 | $18.3 Billion |
| CAGR | 8.3% |
| No. of Pages in Report | 250 |
| Segments Covered | Component, Vehicle Type, Vehicle Propulsion, and Region |
| Drivers | Rise in concerns related to road safety. |
| High adoption of driver assistance systems. | |
| High demand for vehicles equipped with safety features. | |
| Implementation of stringent safety rules and regulations by governments across the world. | |
| Opportunities | Technological advancements. |
| Surge in adoption of autonomous vehicles and greater demand from emerging countries. | |
| Restraints | Increase in vehicle cost due to integration of electronic stability control and unavailability of raw materials. |
Covid-19 Scenario:
- The COVID-19 pandemic impacted the electronic stability control market negatively. The disruption of supply chain, the closing of manufacturing units, and the slowing down of economies in various nations led to a decrease in demand for electronic stability control.
- Although, the automotive industry faced challenges during the pandemic due to a decline in vehicle sales and shortage of electronic components, the electronic stability control market is expected to experience growth in the coming years due to rising integration of electronic stability control in commercial vehicles.
- Developing nations are introducing stringent safety rules and regulations and making it mandatory to integrate electronic stability control in passenger vehicles for enhanced safety.
The report offers a detailed segmentation of the global electronic stability control market based on component, vehicle type, vehicle propulsion, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
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Based on component, the hydraulic unit segment held the largest share of more than two-fifths of the global electronic stability control market in 2021, and is estimated to dominate the global market in terms of revenue during the forecast period. However, the sensors segment is expected to witness the fastest CAGR of 9.1% during the forecast period. The report also analyzes the ECU segment.
Based on vehicle type, the passenger cars segment was the largest in 2021, capturing two-thirds of the global electronic stability control market share, and is estimated to maintain its dominance during the forecast period. However, the heavy commercial vehicles segment is likely to grow at the highest CAGR of 10.1% during the forecast period.
Based on vehicle propulsion, the ICE segment was the largest in 2021, capturing over 90% of the global electronic stability control market share, and is likely to lead the trail through 2031. However, the electric and hybrid segment is estimated to witness the fastest CAGR of 18.3% during the forecast period.
Based on region, the market in Asia-Pacific was the largest in 2021, accounting for more than two-fifths of the global electronic stability control market share, and is likely to maintain its leadership status during the forecast timeframe. However, the market in the same region is expected to manifest the highest CAGR of 9.1% from 2022 to 2031. The other regions analyzed in the study include North America, Europe, and LAMEA.
Leading players of the global electronic stability control market analyzed in the research include Robert Bosch GmbH, Continental AG, Hitachi, Ltd., Denso Corporation, Johnson Electric Group, ZF Friedrichshafen AG, Aisin Corporation, Murata Manufacturing Co., Ltd., Knorr-Bremse AG, and Mando Corp.
The report analyzes these key players of the global electronic stability control market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
