MarkNtel Advisors Predicts Traction Control System Market to Surge to USD 58.6 Billion by 2030 at 5.9% CAGR

Market Overview:

MarkNtel Advisors has released a new report that highlights the strong growth trajectory of the Traction Control System Market, 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. Various factors are attributed to the growth of the market like growth in automobile production, growing focus on lightweight & sustainable materials, rising demand for luxury & customized interiors, increasing focus on safety standards, and the adoption of Advanced Driver Assistance Systems (ADAS). The report provides valuable insights into the drivers, trends, and challenges shaping the future of the Traction Control System Market. It offers an in-depth look at the key players, geographical performance, and the segments leading the charge in market share.

Industry Outlook & Forecasts:

• Forecast Period: 2025-2030
• Market Size in 2023: USD 38.7 Billion
• CAGR (2025-2030): 5.9%

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Global Traction Control System Market Segmentation Breakdown:

The Traction Control System 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

Among these, sensors have gained significant market share in the Global Traction Control market. This has been primarily because wheel speed sensors have been one of the prominent components of Traction Control Systems (TCS).

• By Type
  • Mechanical Linkage- Market Size & Forecast 2020-2030, USD Million
  • Electrical Linkage- Market Size & Forecast 2020-2030, USD Million

The Electrical Linkage segment held a major market share & is expected to grow in the forecast period due to the increasing popularity of electric and hybrid vehicles.

• 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

Geographical Growth Insights:

• By Region
  • North America
  • South America
  • Europe
  • Middle East & Africa
  • Asia-Pacific

Out of them, Asia-Pacific has been witnessing considerable market growth and is projected to have the largest market share of the Global Traction Control System (TCS) Market.

MarkNtel Advisors Highlights Key Market Drivers for Traction Control System Market:

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.

A Comprehensive Analysis of Leading Companies in Global Traction Control System Market

• 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
• Others

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Traction Control System Market Recent Development:

• 2024: Eaton Cummins Automated Transmission Technologies has been chosen to provide its ELocker® differential for a new plug-in hybrid SUV. Eaton’s ELocker, designed for the specific fluid used in electric drives, offers superior control and traction with electronically controlled, durable gears, ensuring optimal performance in challenging conditions.
• 2023: Robert Bosch Gmbh announced their plan for integration of the traction control systems in all motorcycles, which would help in reducing road accidents by 30%. Recently, they have launched an MSC traction control unit for the TVS Apache RTR 310 naked bike.

What are the growth Opportunity driving the Global Traction Control System Market?

Surging Demand for Autonomous Vehicles to Drive the Adoption of Traction Control Systems – Globally, the demand for autonomous self-driving cars has been growing substantially over the past few years. These vehicles are witnessing improving adoption across developed countries like the US, Japan, Singapore, etc. This is primarily because these developed nations have advanced road infrastructure including intelligent traffic systems, and updated urban roads. Also, existing high-speed internet connections in developed countries foster the uptake of robotics technology in automobiles and hence act as enablers for the smooth transition to self-driving vehicles. These vehicles necessarily require various sensors across different parts of the vehicle body to efficiently analyze the environment and vehicle performance for self-driving. Hence, the integration of traction control systems in self-driving vehicles is important due to a rising emphasis on their safety and reliability. Also, by increasing the level of grip and cohesion, these systems improve the maneuverability of vehicles thus reducing on-road incidences and providing comfort to the passengers. Hence, with the growing adoption and production of autonomous vehicles, the demand for traction control systems among OEMs will also increase in the forecast years.

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About Us –

MarkNtel Advisors is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative & quantitative research company, strive to deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.

We have our existence across the market for many years and have conducted multi-industry research across 80+ countries, spreading our reach across numerous regions like America, Asia-Pacific, Europe, the Middle East & Africa, etc., and many countries across the regional scale, namely, the US, India, the Netherlands, Saudi Arabia, the UAE, Brazil, and several others.

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