MarkNtel Advisors – Leading Market Research Company found Global Traction Control System Market is expected to reach 5.9% CAGR Growth By 2030.

This report provides a comprehensive analysis of the Global Traction Control System Market, with a focus on market size, segmentation, key players, geographical analysis, and growth in the coming years. The expert team of analysts invested considerable time and effort in collecting and analyzing the latest market data, producing a comprehensive and current report that provides valuable insights for decision-makers, including business owners and analysts.

Comprehensive Analysis of the Traction Control System Market

Base Year: 2023

Forecast Years: 2024-2030

Historical Years: 2019-2022

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Scope of the Traction Control System Market Report:

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., 2024-30.  The Global Traction Control Market has been growing because of the improving need for safety features, rising expenditure capacities of consumers, etc. The market players have been focused on providing innovative products in the form of automobile safety systems aimed at optimizing the tractive force and minimizing the loss of stability of the vehicle. Companies have been investing heavily in the research & development of better traction control systems in recent years. This was to cater to the rising demand for enhanced security solutions among consumers. Also, to improve the cost-effectiveness of traction control systems, the companies have been focusing on the development of energy-efficient technologies. For instance.

Which prominent factor is expected to drive the Traction Control System Market during 2024-30?

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.

What are the different Segment Available in the Traction Control System Market?

By Component

• Hydraulic Modulators- Market Size & Forecast 2019-2030F, (USD Million)
• Electronic Control Unit (ECU)- Market Size & Forecast 2019-2030F, (USD Million)
• Brake Actuators- Market Size & Forecast 2019-2030F, (USD Million)
• Sensors- Market Size & Forecast 2019-2030F, (USD Million)
• Others- Market Size & Forecast 2019-2030F, (USD Million)

By Type

• Mechanical Linkage- Market Size & Forecast 2019-2030F, (USD Million)
• Electrical Linkage- Market Size & Forecast 2019-2030F, (USD Million)

By Vehicle Type

• Passenger Vehicles- Market Size & Forecast 2019-2030F, (USD Million)
• Commercial Vehicles- Market Size & Forecast 2019-2030F, (USD Million)

By Propulsion Type

• ICE Vehicle- Market Size & Forecast 2019-2030F, (USD Million)
• Electric Vehicle- Market Size & Forecast 2019-2030F, (USD Million)

By Distribution Channel

• OEM- Market Size & Forecast 2019-2030F, (USD Million)
• Aftermarket- Market Size & Forecast 2019-2030F, (USD Million)

By Region

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

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Leading Traction Control System companies operating in the 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
• NTN Corporation
• Others.

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