Reportlinker.com releases “World Electronic Stability Control Market Size, Share & Industry Trends Analysis Report By Component, By Vehicle Propulsion, By Vehicle Type,
ESC prevents sliding in various driving conditions. The device applies brake pressure to one or more wheels in dangerous driving scenarios to prevent the automobile from sliding.
Growing at a CAGR of 8.0% over the predicted years
The ESC also automatically adjusts torque in critical driving conditions to keep the driver in control of the steering. When the driver loses steering control, the ESC applies the brakes to help guide the automobile. Oversteer and understeer are countered by immediately braking the outer front and inner rear wheels. Certain ESC systems restrict engine power while awaiting control. ESC reduces driver loss of control rather than improving cornering.
The ESC only activates when the automobile deviates from the driver’s intended route, threatening steering control. Hydroplaning, understeering or oversteering during poorly evaluated moves on icy roads, or sliding during emergency evasive swerves can cause this. At high speeds, steering input may not convey the desired direction of motion, therefore ESC may interfere. ESC identifies the skid’s direction and applies brakes asymmetrically to select wheels to counteract it and return the car to the driver’s desired direction. The mechanism may reduce engine power or engage the gearbox to slow the automobile.
COVID-19 Effects
The epidemic affected most global industries. It interrupted financial and industrial operations and public health. Several countries locked down to stop the illness. COVID-19 continues to impact automakers. The government’s import-export, travel, and transportation restrictions have impacted the industry’s supply chain. Due to falling demand for cars, auto parts, and other causes, the automotive sector has suffered. When the global economy recovers, the electronic stability control market should develop.
Market Drivers
Autonomous transportation is growing.
As autonomous mobility grows, the electronic stability control industry is projected to profit. Autonomous cars also emphasize safety. Hence, demand for safer automobiles boosts market growth. Fully autonomous level 5 cars need ADAS, ESC, and other safety measures. As automakers accelerate R&D for fully driverless cars, electronic stability control usage is expected to rise.
Safety-equipped cars are popular.
To satisfy consumers, automakers are adding safety features. Due of safety concerns, electronic stability control is growing. Due to demand for enhanced safety features like electronic control systems and anti-lock braking systems, electronic stability control systems are likely to develop. The market will grow as public awareness of road safety rises and improved driver assist systems are installed in more cars.
Market Restraints
Drivers shouldn’t think this improves performance. ESC makes turning easier, but it can’t improve traction. High-Performance Driving is incompatible with ESC, which may interfere with high-speed driving. Unwanted ESC applications might occur during controlled drifting due to steering input not always recognizing the desired direction. High-performance driving can render ESC incompatible, and its other faults may require better solutions, which may slow the electronic stability control market’s growth.
Component Outlook
Hydraulic unit, sensors, and electronic control unit comprise the electronic stability control market. In 2021, the hydraulic unit category led the electronic stability control market in revenue. The hydraulic device manages braking pressure via shift valves for each wheel brake. They govern raising, sustaining, and lowering pressure in the hydraulic unit. Driving dynamics and brake controls are generally in the hydraulic unit.
Vehicle Outlook
Passenger automobiles, light commercial vehicles, and heavy commercial vehicles comprise the electronic stability control market. In 2021, passenger automobiles dominated the electronic stability control market. High-end passenger automobiles with advanced safety features are driving growth. Passenger cars must employ ESC by law. Numerous passenger car manufacturers install ESC systems. As safety regulations increase, certain mid-range automakers seek to include ESC to their passenger vehicles.
Propulsion Forecast
ICE and electric/hybrid vehicles drive the electronic stability control industry. In 2021, electric and hybrid vehicles dominated the electronic stability control market. Commercially available electric-drive automobiles must meet the Safety Standards of the country they are sold in and undergo the same rigorous safety testing as conventional vehicles. EVs have the latest technology to make driving easier and passengers safer. These elements should boost the segment’s growth.
Regional Outlook
North America, Europe, Asia Pacific, and LAMEA comprise the electronic stability control market. Electronic stability control revenue was highest in Asia Pacific in 2021. Due to increased automobile manufacturing and sales. Asia Pacific will produce several automobile electronic stability control systems. Asian countries are adopting modern driver assistance technologies. Rising consumer disposable income and demand for luxury cars are expected to enhance regional market growth.
The paper analyzes market stakeholders. The paper profiles Robert Bosch GmbH, Continental AG, Johnson Electric Holdings Limited, Aisin Corporation (Toyota Motor Corporation), Valeo SA, Murata Manufacturing Co., Ltd., Hitachi, Ltd., Knorr-Bremse AG, ZF Friedrichshafen AG (TRW), and Mando Corporation (Halla Group).
ESC Market Strategies
2022-Mar: Continental AG partnered with Japanese electronics, vehicle brakes, mechatronics, chemicals, textiles, papers, and real estate company Nisshinbo Holdings Inc. Continental AG might pivot to provide the Indian automobile market with the newest safety technologies integrated and manufactured in India under this cooperation.
2021-April: Hitachi, Ltd. acquired GlobalLogic, an American software product design and development business. GlobalLogic will assist Hitachi, Ltd. extend its distribution reach in India with this purchase. Hitachi, Ltd. might expand its European and American client base.