Traction Control System Market Growth, Key Trends & Factor Driving Industry till 2030

Global Traction Control System Market Overview and Insights:

Traction Control System Market research is an ongoing process. 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.

What is the Future Market Size of the Traction Control System Industry and its Yearly Growth Rate?

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. 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.

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Who are the Main Competitors Driving the Global Traction Control System Market Forward?

The prominent players essentially operating in the Traction Control System Market are as follows:

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

Global 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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What is the Segmentation of the Global Traction Control System Market?

The Traction Control System market covered in this report is segmented –

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

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

Key Questions Answered in the Research Report

What is the predicted Traction Control System market size and growth rate for the years 2025-30?
What challenges are restricting the growth of the Traction Control System market?
Which segment accounted for the largest market share in the Traction Control System market?
Which prominent companies are leading growth in the Traction Control System market?
In what formats does Markntel Advisors deliver the concerned report descriptions?
How long does it take for customers to receive the reports provided by Markntel Advisors?
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