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The Traction Control System Market size is forecast to increase by USD 12.3 billion at a CAGR of 6.74% between 2023 and 2028. The growth of the Market is shaped by various pivotal factors. Notably, the escalating demand for autonomous vehicles underscores the need for efficient water treatment solutions to support the manufacturing processes of these advanced vehicles.
Moreover, heightened customer spending on advanced features accentuates the importance of water treatment equipment in ensuring the quality and safety of production processes. Additionally, partnerships and collaborations among industry players facilitate the development and adoption of innovative water treatment technologies. Furthermore, key countries such as China, the US, Germany, Japan, and the UK play a significant role in driving traction control system market growth, with China leading the market share, projected to reach USD 4.96 billion in revenue by 2021. Amidst these dynamics, market player Autoliv's expertise in manufacturing brake control systems further enriches the landscape of commercial water treatment equipment, emphasizing its vital role in supporting diverse industries worldwide. Besides analyzing the current market scenario, our traction control system market analysis and report examines historical data from 2018 to 2022.
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The 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. In the ever-evolving landscape of commercial vehicles, ensuring optimal safety and efficiency is paramount. Enter our advanced traction control system, seamlessly integrated into the electrical system of commercial vehicles. Engineered to enhance vehicle safety features, it incorporates an active braking system, elevating safety standard ratings. By mitigating wheel slippage and enhancing stability, our system reduces the risk of accidents, especially in challenging road conditions. Moreover, it helps curtail high maintenance costs associated with vehicle wear and tear. Embrace our innovative solution to safeguard your fleet while optimizing performance in the 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.
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 17.80 billion in 2018. 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 during the forecast period.
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 52% 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 2023 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. In the automotive sector, the brake-by-wire systems market is experiencing significant expansion, driven by the increasing focus on vehicle safety and performance. Brake-by-wire systems utilize electronic controls to modulate braking force, providing more precise and responsive braking while also offering potential benefits in terms of weight reduction and packaging efficiency. Hence, such factors are driving the market during the forecast period.
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, automotive active roll control systems hold significant importance as they greatly contribute 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. Automotive active roll control systems mitigate body roll during cornering, enhancing both comfort and safety. Consequently, as the demand for ADAS continues to grow, including these advanced systems will have a positive impact on the traction control system global market growth and trends, driving 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, including Electric Vehicle (EV) traction motors, further contribute to the technological intricacy. As a result, the technological complexities involved may impede global traction control system growth during 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 AG- The company offers traction control systems such as MoComp Traction Motors.
The traction control system market research 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.
Market research and growth are 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 witnessing steady growth because of the rising demand for enhanced safety features in motorcycles and Commercial vehicle. Traction control systems offer riders improved stability and control by preventing wheel slip during acceleration, especially on slippery surfaces or during aggressive maneuvers.
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.
Market Scope |
|
Report Coverage |
Details |
Page number |
174 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.74% |
Market growth 2024-2028 |
USD 12.3 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
6.27 |
Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
Performing market contribution |
APAC at 52% |
Key countries |
China, US, Germany, Japan, 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, WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORP., and ZF Friedrichshafen AG |
Market dynamics |
Parent market analysis, Traction control systems market forecasting, Traction control systems market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Traction control systems market worth and condition analysis for forecast period |
Customization purview |
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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 Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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