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Traction Control System Market

Global Traction Control System Market Share, Forecast: By Type: Electrical Linkage, Mechanical Linkage, Others; By Component: Hydraulic Modulators, Sensors, Electronic Control Unit, Others; By Distribution Channel: OEM, Aftermarket; By Vehicle Type: Passenger Car, Others; Regional Analysis; Competitive Landscape; 2024-2032

Global Traction Control System Market Outlook

The global traction control system market reached a value of about USD 38.33 billion in 2023. The market is further expected to grow at a CAGR of 6.5% in the forecast period of 2024-2032 to reach a value of approximately USD 67.43 billion by 2032.

 

Global Traction Control System Market

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Increasing Demand for Electric Vehicle to Aid the Growth of the Traction Control System Industry

Based on vehicle type, the electric vehicle segment is expected to witness a steady growth rate over the forecast period. This can be attributed to the increasing demand for environmentally friendly vehicles to reduce carbon emissions in the environment. Further, developed regions like Europe are making significant investments to encourage people to shift to electric vehicles, which will aid the industry growth.

 

The Asia Pacific to Witness a Robust Growth During the Forecast Period

The global traction control system industry is expected to be dominated by the Asia Pacific region. The demand is growing in the region due to the increasing vehicle safety standards, coupled with the favourable government initiatives to prevent road accidents across the region. It has been estimated that road accidents are one of the major causes of death across the globe. The market is further supported by the increasing demand for luxurious cars and the escalating consumer disposable incomes in the region. Other significant regions for the market include North America and Europe.

 

Traction Control System: Market Segmentation

Traction control system refers to an advanced active braking system that is designed to provide assistance to drivers in controlling their vehicles. In automobiles, this system gets activated when it senses that wheels may slip, thus, preventing accidents by allowing drivers to make the most of the traction available on the road surface.

 

Global Traction Control System Market By Type

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Based on type, the market is divided into:

  • Electrical Linkage
  • Mechanical Linkage
  • Others

By component, the industry can be segmented into:

On the basis of distribution channel, the industry is bifurcated into:

  • OEM
  • Aftermarket

Based on vehicle type, the market can be categorised into:

  • Passenger Car
  • Light Commercial Vehicle
  • Heavy Commercial Vehicle
  • Electric Vehicles
  • Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Global Traction Control System Market By Region

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Rising Awareness Regarding Road Safety and the Increasing Demand for Advanced Vehicle Safety Features to Bolster the Growth of the Traction Control System Industry

The growing focus on road safety and the rising demand for advanced safety systems, such as traction control system, are aiding the industry growth. The market is further supported by the rapid advancements in technology and increasing demand premium and luxurious cars. Other factors propelling the industry growth include the growth of the automotive industry, increasing disposable incomes, and stringent government regulations regarding vehicle safety.

Over the forecast period, automation in vehicles, like driverless cars, is expected to result in enhanced demand for automotive safety systems. As a consequence, there is expected to be a steady demand for automotive traction control system, thus, aiding the overall market growth.

Key Industry Players in the Global Traction Control System Market

The report gives a detailed analysis of the following key players in the global traction control system market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • Robert Bosch GmbH   
  • MAHLE GmbH
  • DENSO Corporation
  • Continental AG
  • Hyundai Motor Group
  • Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Type
  • Component
  • Distribution Channel
  • Vehicle Type
  • Region
Breakup by Type
  • Electrical Linkage
  • Mechanical Linkage
  • Others
Breakup by Component
  • Hydraulic Modulators
  • Sensors
  • Electronic Control Unit
  • Others
Breakup by Distribution Channel
  • OEM
  • Aftermarket
Breakup by Vehicle Type
  • Passenger Car
  • Light Commercial Vehicle
  • Heavy Commercial Vehicle
  • Electric Vehicles
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Robert Bosch GmbH   
  • MAHLE GmbH
  • DENSO Corporation
  • Continental AG
  • Hyundai Motor Group
  • Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Traction Control System Market Analysis
    8.1    Key Industry Highlights
    8.2    Global Traction Control System Historical Market (2018-2023) 
    8.3    Global Traction Control System Market Forecast (2024-2032)
    8.4    Global Traction Control System Market by Type
        8.4.1    Electrical Linkage
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Mechanical Linkage
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032
        8.4.3    Others
    8.5    Global Traction Control System Market by Component
        8.5.1    Hydraulic Modulators
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Sensors
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
        8.5.3    Electronic Control Unit
            8.5.3.1    Historical Trend (2018-2023)
            8.5.3.2    Forecast Trend (2024-2032)
        8.5.4    Others
    8.6    Global Traction Control System Market by Distribution Channel
        8.6.1    OEM
            8.6.1.1    Historical Trend (2018-2023)
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Aftermarket
            8.6.2.1    Historical Trend (2018-2023)
            8.6.2.2    Forecast Trend (2024-2032)
    8.7    Global Traction Control System Market by Vehicle Type
        8.7.1    Passenger Car
            8.7.1.1    Historical Trend (2018-2023)
            8.7.1.2    Forecast Trend (2024-2032)
        8.7.2    Light Commercial Vehicle
            8.7.2.1    Historical Trend (2018-2023)
            8.7.2.2    Forecast Trend (2024-2032)
        8.7.3    Heavy Commercial Vehicle
            8.7.3.1    Historical Trend (2018-2023)
            8.7.3.2    Forecast Trend (2024-2032)
        8.7.4    Electric Vehicles
            8.7.4.1    Historical Trend (2018-2023)
            8.7.4.2    Forecast Trend (2024-2032)
        8.7.5    Others
    8.8    Global Traction Control System Market by Region       
        8.8.1    North America
            8.8.1.1    Historical Trend (2018-2023) 
            8.8.1.2    Forecast Trend (2024-2032)
        8.8.2    Europe
            8.8.2.1    Historical Trend (2018-2023) 
            8.8.2.2    Forecast Trend (2024-2032)
        8.8.3    Asia Pacific
            8.8.3.1    Historical Trend (2018-2023) 
            8.8.3.2    Forecast Trend (2024-2032)
        8.8.4    Latin America
            8.8.4.1    Historical Trend (2018-2023) 
            8.8.4.2    Forecast Trend (2024-2032)
        8.8.5    Middle East and Africa
            8.8.5.1    Historical Trend (2018-2023) 
            8.8.5.2    Forecast Trend (2024-2032) 
9    North America Traction Control System Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023) 
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023) 
        9.2.2    Forecast Trend (2024-2032)
10    Europe Traction Control System Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023) 
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023) 
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023) 
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023) 
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Traction Control System Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023) 
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023) 
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023) 
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023) 
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023) 
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Traction Control System Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023) 
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023) 
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023) 
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Traction Control System Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023) 
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023) 
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023) 
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023) 
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Competitive Landscape

    16.1    Market Structure
    16.2    Company Profiles
        16.2.1    Robert Bosch GmbH   
            16.2.1.1    Company Overview
            16.2.1.2    Product Portfolio
            16.2.1.3    Demographic Reach and Achievements
            16.2.1.4    Certifications
        16.2.2    MAHLE GmbH
            16.2.2.1    Company Overview
            16.2.2.2    Product Portfolio
            16.2.2.3    Demographic Reach and Achievements
            16.2.2.4    Certifications
        16.2.3    DENSO Corporation
            16.2.3.1    Company Overview
            16.2.3.2    Product Portfolio
            16.2.3.3    Demographic Reach and Achievements
            16.2.3.4    Certifications
        16.2.4    Continental AG
            16.2.4.1    Company Overview
            16.2.4.2    Product Portfolio
            16.2.4.3    Demographic Reach and Achievements
            16.2.4.4    Certifications
        16.2.5    Hyundai Motor Group
            16.2.5.1    Company Overview
            16.2.5.2    Product Portfolio
            16.2.5.3    Demographic Reach and Achievements
            16.2.5.4    Certifications
        16.2.6    Others
17    Key Trends and Developments in the Market


List of Key Figures and Tables

1.    Global Traction Control System Market: Key Industry Highlights, 2018 and 2032
2.    Global Traction Control System Historical Market: Breakup by Type (USD Billion), 2018-2023
3.    Global Traction Control System Market Forecast: Breakup by Type (USD Billion), 2024-2032
4.    Global Traction Control System Historical Market: Breakup by Component (USD Billion), 2018-2023
5.    Global Traction Control System Market Forecast: Breakup by Component (USD Billion), 2024-2032
6.    Global Traction Control System Historical Market: Breakup by Distribution Channel (USD Billion), 2018-2023
7.    Global Traction Control System Market Forecast: Breakup by Distribution Channel (USD Billion), 2024-2032
8.    Global Traction Control System Historical Market: Breakup by Vehicle Type (USD Billion), 2018-2023
9.    Global Traction Control System Market Forecast: Breakup by Vehicle Type (USD Billion), 2024-2032
10.    Global Traction Control System Historical Market: Breakup by Region (USD Billion), 2018-2023
11.    Global Traction Control System Market Forecast: Breakup by Region (USD Billion), 2024-2032
12.    North America Traction Control System Historical Market: Breakup by Country (USD Billion), 2018-2023
13.    North America Traction Control System Market Forecast: Breakup by Country (USD Billion), 2024-2032
14.    Europe Traction Control System Historical Market: Breakup by Country (USD Billion), 2018-2023
15.    Europe Traction Control System Market Forecast: Breakup by Country (USD Billion), 2024-2032
16.    Asia Pacific Traction Control System Historical Market: Breakup by Country (USD Billion), 2018-2023
17.    Asia Pacific Traction Control System Market Forecast: Breakup by Country (USD Billion), 2024-2032
18.    Latin America Traction Control System Historical Market: Breakup by Country (USD Billion), 2018-2023
19.    Latin America Traction Control System Market Forecast: Breakup by Country (USD Billion), 2024-2032
20.    Middle East and Africa Traction Control System Historical Market: Breakup by Country (USD Billion), 2018-2023
21.    Middle East and Africa Traction Control System Market Forecast: Breakup by Country (USD Billion), 2024-2032
22.    Global Traction Control System Market Structure

Key Questions Answered in the Report

In 2023, the market attained a value of nearly USD 38.33 billion.

The market is projected to grow at a CAGR of 6.5% between 2024 and 2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 67.43 billion by 2032.

The major drivers of the market include the rising disposable incomes, growing automotive market, increasing awareness regarding road safety, and stringent government regulations.

The increasing demand for automotive traction control system and growing demand for improved vehicle safety systems, are expected to be the key market trends of the market.

The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The leading types of traction control system in the market are electrical linkage and mechanical linkage, among others.

The major components of traction control system in the market are hydraulic modulators, sensors, and electronic control unit, among others.

The significant distribution channels in the market are OEM and aftermarket.

The leading vehicle types in the market are passenger car, light commercial vehicle, heavy commercial vehicle, and electric vehicles, among others.

The major players in the global traction control system market are Robert Bosch GmbH, MAHLE GmbH, DENSO Corporation, Continental AG, and Hyundai Motor Group, among others.

Analyst Review

The global traction control system market attained a value of USD 38.33 billion in 2023, driven by the rising automotive industry. Aided by stringent government regulations, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 6.5%. The market is projected to reach USD 67.43 billion by 2032.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. By type, the market is segmented into electrical linkage and mechanical linkage, among others. Based on component, the industry is divided into hydraulic modulators, sensors, and electronic control unit, among others. On the basis of distribution channel, the market is segmented into OEM and aftermarket. By vehicle type, the market is categorised into passenger car, light commercial vehicle, heavy commercial vehicle, and electric vehicles, among others. The major regional markets for traction control system are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Robert Bosch GmbH, MAHLE GmbH, DENSO Corporation, Continental AG, and Hyundai Motor Group, among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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