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The Global Traction Control System Market size is forecast to increase by USD 10.84 billion at a CAGR of 6.32% between 2022 and 2027. The growth of the market depends on several factors, such as the robust demand for autonomous vehicles, the increased spending of customers on advanced features, and the partnership and collaboration among players. China, US, Germany, Japan, and the UK are the top five countries contributing to the growth of the market share. China has the largest market share projecting a revenue of USD 4.96 billion in 2021. Autoliv is one of the market players manufacturing brake control systems. Besides analyzing the current market scenario, our market analysis and report examines historical data from 2017 to 2021.
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The TCS market is a dynamic and evolving industry with a focus on improving vehicle safety, performance, and sustainability. The optimization of mechanical linkages, weight reduction, emissions reduction, and fuel consumption are key areas of research and development in this market. The integration of advanced technologies, such as active braking systems and regenerative braking, is driving innovation and growth in the TCS market.
The market is witnessing significant growth driven by advancements in mechanical and electrical systems, particularly in the transportation and logistics industry, with the rise of electric vehicles and ride-hailing services. As per the International Energy Agency, TCS ensures safety applications by regulating wheel spin and preventing skidding, especially in adverse conditions like rain and snow. With global safety protocols and comfort systems becoming paramount, the market is embracing technological advancements to enhance vehicle safety, making TCS a crucial feature in both passenger and commercial vehicles. This market growth analysis report extensively covers market segmentation by type (electric linkage and mechanical linkages), vehicle type (passenger cars, light commercial vehicles, and heavy commercial vehicles), and geography (APAC, Europe, North America, Middle East, and Africa, and South America).
The Electrical linkage segment is estimated to witness significant growth during the forecast period. In 2022, the Electronic linkage segment dominated the global market. The increasing popularity of electric and hybrid vehicles has created a demand for advanced specifically designed for these vehicles.
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The electric linkage segment was the largest segment and was valued at USD 17.08 billion in 2017. With the rise of electric and hybrid vehicles, there is an increasing need for advanced systems made specifically for electric and hybrid vehicles. Electric linkages facilitate seamless communication and coordination between the electric powertrain components and the control system, enabling precise control of power distribution to optimize traction and improve overall vehicle performance. Electric linkages play a crucial role in transmitting signals and commands between the traction command module and various components of the vehicle, such as the brakes, engine, and four-wheel drive sensors. Such factors will boost the market growth.
Based on vehicle type, the passenger car segment holds the largest market share. Passenger vehicle demand is influenced by various factors such as economic conditions, consumer preferences, fuel prices, technological advancements, and government policies. With the increase in disposable income, developing economies like China and Brazil may experience rising demand for passenger vehicles during the forecast period.
APAC is estimated to contribute 46% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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APAC dominated the global market with a large share in 2022. The development and advancement of autonomous driving technologies, including sensor systems, artificial intelligence, and machine learning, have increased the feasibility and potential of autonomous vehicles, which surge demand. The market is driven by the extensive use of advanced driver-assisted and safety systems in regionally manufactured automobiles. In APAC, India and China are the major revenue contributors to the market in focus. These countries lead the demand and sales of luxury or premium vehicles in the region, registering the highest penetration rate of advanced safety systems. Additionally, improved economic conditions in these regions support the growth of the regional market during the forecast period.
The market is experiencing rapid growth owing to advancements in mechanical and electrical systems in the transportation and logistics industry, particularly with the rise of electric vehicles and ride-hailing services. TCS ensures safety by utilizing vehicle speed sensors and electronic control units (ECUs) to manage wheel spin and prevent skidding. Despite high maintenance costs, the demand for technologically advanced traction control systems is increasing due to government initiatives and emission regulations driving vehicle safety innovations. However, challenges such as ECU dysfunctioning and hurdles in weight of the vehicle reduction pose obstacles to market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The robust demand for autonomous vehicles is one of the key drivers of the market. In the realm of autonomous vehicles, a multitude of sensors, such as cameras, radar, lidar, and GPS, are utilized to perceive the surrounding environment and make informed driving decisions. Among the crucial components ensuring the safety and stability of these vehicles are traction control systems. These systems play a vital role by optimizing the grip between the vehicle's tires and the road surface. Through continuous monitoring and adjustment of power delivery to each wheel, regulate factors such as wheel slip, road conditions, and vehicle dynamics. This active management prevents wheel spin, loss of control, and potential accidents, particularly in adverse weather conditions or on slippery surfaces.
As the demand for autonomous vehicles grows in the coming years, there will be an increased focus on safety and reliability. It has become even more essential as it enables autonomous vehicles to navigate diverse road conditions securely. By enhancing traction and stability, these systems contribute to improved vehicle control and handling, ultimately reducing the risk of accidents and enhancing passenger comfort. The rising demand for autonomous vehicles is a key driving force for the growth of the global market in the foreseeable future.
Increasing adoption of advanced driver assistance systems is the key trend in the key market. Traction control holds a pivotal role within Advanced Driver Assistance Systems (ADAS), encompassing a range of safety features like anti-lock braking systems (ABS), lane-keeping assistance, and collision avoidance systems. Specifically, a plays a vital role in enhancing the stability and control of vehicles during acceleration and deceleration. As ADAS technologies gain increasing popularity and wider adoption, the demand is on the rise. Consumers are becoming more conscious of the safety and convenience benefits provided by ADAS.
Within the ADAS framework, it holds significant importance as it greatly contributes to vehicle safety and handling. By assisting drivers in maintaining better control and stability, particularly in challenging driving conditions, these systems have become an integral part of ADAS. Consequently, as the demand for ADAS continues to grow, it will have a positive impact on the global market growth and trends, driving its expansion throughout the forecast period.
Technological complexity associated with traffic control systems is challenging the market growth. The integration with various vehicle systems, including the engine, brakes, and stability control, presents intricate challenges. Achieving seamless interoperability and effective integration poses technical complexities. They rely on advanced algorithms to analyze sensor data and detect wheel slippage.
These algorithms take into account multiple factors, such as wheel speed differentials, vehicle speed, steering input, and road conditions. Developing and fine-tuning these algorithms to ensure optimal performance and minimize false detections is a demanding endeavor. Moreover, the integration of systems with other ADAS technologies and the ongoing pursuit of autonomous driving capabilities further contribute to the technological intricacy. As a result, the technological complexities involved may impede the growth of the global market in the forecast period.
Companies are implementing various strategies by analyzing factors such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product or service launches to enhance their presence in the market.
Siemens- The company offers traction control systems such as MoComp Traction Motors.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
ABB Ltd., AISIN CORP., Autoliv Inc., Continental AG, DENSO Corp., Hitachi Ltd., Hyundai Motor Co., Infineon Technologies AG, Kendrion NV, Knorr Bremse AG, MAHLE GmbH, Mitsubishi Electric Corp., Nidec Corp., Nissan Motor Co. Ltd., RaceTronics, Robert Bosch GmbH, Siemens AG, Voith GmbH and Co. KGaA, Wabtec Corp., and ZF Friedrichshafen AG
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research and growth is crucial for enhancing vehicle safety features by preventing loss of traction on roads, particularly in extreme weather conditions like snow. It operates by adjusting throttle input and engine torque, utilizing sensors such as wheel speed sensors, stop light sensor, battery level sensors, and throttle position sensors. Modern vehicles, including those in the LCV segment, incorporate TCS to optimize performance. Key players in the market, such as IAV Automotive Engineers, Mahle Group, and Cummins Inc., contribute to advancements in TCS technology. As government standards emphasize fuel efficiency and emission norms, TCS becomes integral for compliance, impacting maintenance costs and overall vehicle operation.
The market is propelled by various factors, including the integration of advanced safety features in modern vehicles. These systems, embedded within the mechanical system of automobiles, ensure optimal traction by regulating wheel spin. They play a pivotal role in ridesharing platforms and other transportation sectors, contributing to passenger safety and comfort. Key components such as wheels, accelerator pedals, and electronic control units (ECUs) are crucial in facilitating efficient traction control. Manufacturers focus on developing innovative technologies like electronic coupling and hydraulic modulators to enhance vehicle safety standards. Another critical issue in the TCS market is emissions reduction and fuel consumption. Active braking systems are increasingly being integrated into TCS to improve vehicle safety and reduce emissions. These systems use sensors to detect wheel slippage and apply braking force to the appropriate wheel to maintain traction and prevent skidding. By optimizing the braking system's performance, fuel consumption can be reduced, and emissions can be minimized. Despite hindrances like electronic component limitations, the market continues to witness growth, driven by the rising demand for advanced safety devices in automobiles.
Traction Control System Market Scope |
|
Report Coverage |
Details |
Page number |
167 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.32% |
Market growth 2023-2027 |
USD 10.84 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
5.53 |
Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
Performing market contribution |
APAC at 46% |
Key countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
ABB Ltd., AISIN CORP., Autoliv Inc., Continental AG, DENSO Corp., Hitachi Ltd., Hyundai Motor Co., Infineon Technologies AG, Kendrion NV, Knorr Bremse AG, MAHLE GmbH, Mitsubishi Electric Corp., Nidec Corp., Nissan Motor Co. Ltd., RaceTronics, Robert Bosch GmbH, Siemens AG, Voith GmbH and Co. KGaA, Wabtec Corp., and ZF Friedrichshafen AG |
Market dynamics |
Parent market analysis,Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Vehicle Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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