Automotive Electronic Stability Control Systems Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 10.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Automotive Electronic Stability Control Systems Market Analysis
The automotive electronic stability control system market was valued at USD 40.84 billion in the current year and is projected to grow to USD 74.35 billion by the next five years, registering a CAGR of more than 10.5% in terms of revenue during the forecast period.
Over the medium term, Growing production of vehicles with integrated ADAS features in the wake of rising awareness toward the comfort and safety of passengers and government regulations mandating safety features is expected to drive demand in the market. Moreover, the rising acceptance of self-driving or automated vehicles further contributes to the enhanced growth of the market.
Every year, around 1.25 million people are killed in road accidents. The highest numbers are from developing countries. Many governments across the globe have started to impose stringent regulations to curb rising road accidents. Major OEMs have started investing in R&D to develop superior technology. Increasing concerns about vehicle safety, the adoption of advanced braking systems, advanced AI-powered systems, and government vehicle safety norms combined with growth in vehicle production worldwide are expected to help the automotive electronic stability control system market grow during the forecasted period.
Many OEMs are equipping their products with electronic stability control systems in most medium- and luxury cars. Electronic stability control systems have reduced fatal run-off-road crashes by 36% for passenger cars and 7% for light trucks and vans. With the increase in autonomous vehicles, which is expected to register a CAGR of over 21% during the forecasted period, this market is expected to have a high growth rate during the latter half of the forecasted period.
Automotive Electronic Stability Control Systems Market Trends
Rising Adoption of ADAS Features in Vehicles
The growing customer awareness towards better emergency braking systems is driving the market. With the rising number of road accidents has fuelled this demand. Governments around the world are encouraging this kind of safety feature. United States, Australia, Japan, New Zealand, Russia, South Korea, Turkey, Canada, the European Union, Israel, and many other countries have made the electronic stability control system mandatory.
Increasing disposable income and changing customer preferences towards fully loaded safety features cars are driving this market growth. The passenger cars segment is expected to lead the market during the forecasted period and is expected to capture 66% of the global automotive market. Raising passenger vehicle production across the globe is also a significant factor in maintaining the dominance of passenger vehicles.
Governments across the world are focusing on designing several legislative policies and regulations to monitor users. They are proposing policies mandating and encouraging consumers to install ADAS components in vehicles to mitigate rising road accidents across several countries. For instance, the Indian government has already mandated a requirement for ABS on motorcycles with a focus on improving vehicle safety. Currently, India is working to make Electronic Stability Control (ESC) and Autonomous Emergency Braking (AEB) mandatory in cars by 2022-2023.
Autonomous vehicle technology with level 4 and level 5 autonomous cars will become a large market worldwide. By 2030, the autonomous vehicle market is expected to reach a value of 60 billion USD. North American region is expected to own up to 30% of the world's self-driving cars, with China and Western Europe holding 24%. All these factors are expected to have a positive contribution to electronic stability systems market growth.
Asia-Pacific is Expected To Lead Market
China is one of the largest automotive markets in the world, and more than 23.56 million passenger cars were sold in the country in 2022 and recorded a 9.5% yearly increase in sales compared to 2021, which in turn is likely to create a lucrative opportunity for the market during the forecast period.
Despite the pandemic, China is still one of the largest sellers of automobiles, which is a great opportunity for predictive technology to take its place in the Chinese automobile market. The Chinese government is focusing on several advanced vehicle technologies, such as Electronic stability control systems, which in turn is likely to create lucrative opportunities for the market during the forecast period.
India is an emerging economy where the implementation of advanced features in passenger cars is taking place gradually. India has potential and opportunity for the market as India is stepping gradually into the autonomous and artificial intelligence-oriented automotive industry along with many new product launches. For instance,
- In June 2023, Maruti Suzuki India Limited (MSIL) launched the off-roader Jimny at a starting price of INR 1.27 million (USD 15270). The vehicle consists of features such as a brake assist function, an electronic stability program, and other features.
- In May 2023, SAIC-GM-Wuling (SGMW) announced the official launch of the Baojun Yep, its first 3-door 4-seater battery electric SUV in China. The vehicle consists of several features such as ESC (Electronic Stability Control), Hill Hold Control, and other features.
Japan is one of the renowned names in the automobile industry, with strong automobile manufacturers serving Japanese products across the world. As Lidars and cameras are the principal components of autonomous cars, differentiating them from conventional vehicles, several companies manufacturing these components are entering into partnerships and focusing on emerging markets.
With the development mentioned above across the region, the market is witnessing major growth during the forecast period.
Automotive Electronic Stability Control Systems Industry Overview
The market for Automotive Electronic Stability Control Systems is dominated by several key players such as Robert Bosch GmbH, Continental AG, Denso Corporation, Hitachi Automotive Systems, Autoliv Inc., and Others. The market is witnessing rapid growth due to the introduction of high-end systems even in entry-level cars and growing partnerships between the major players to develop advanced safety systems, which in turn is likely to witness major growth for the market during the forecast period. For instance,
In June 2023, ZF Friedrichshafen AG announced the expansion of the ESC (Electronic Stability Control) system facilities in India. The company is capitalizing on new legislation, such as the introduction of electronic stability control (ESC) to offer enhanced safety features in commercial vehicles.
In February 2023, Shanghai Trugo Tech Co., Ltd., a provider of drive-by-wire chassis technologies and solutions, expanded fully automated production lines for the ESC (Electronic Stability Control) system, the industrialization of the EHBI (Electric Hydraulic Brake) system (integrated Onebox) in China.
In December 2022, Dongfeng Motor (DFM) officially launched the new Yufeng V9+ light-duty bus. The vehicle is equipped with ABS (Antilock Brake System) and EBD (Electronic Brakeforce Distribution) as standard, with TPMS (Tire Pressure Monitoring System) and ESC (Electronic Stability Control) optional.
Automotive Electronic Stability Control Systems Market Leaders
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Robert Bosch GmbH
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Continental AG
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Denso Corporation
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ZF Friedrichshafen AG
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ADVICS CO.,LTD.
*Disclaimer: Major Players sorted in no particular order
Automotive Electronic Stability Control Systems Market News
- June 2023: Militem started marketing the new Ferox-E, a plug-in hybrid electric vehicle (PHEV). The vehicle has features such as electronic stability control (ESC) with an ERM (Electronic Roll Mitigation) anti-roll system, Adaptive cruise control, forward collision warning plus, and a new front camera.
- June 2023: Continental AG inaugurated a new plant in Gurugram with its joint venture partner Nisshinbo Holdings. The new JV plant will produce valve blocks for Continental's Electronic Brake Systems (EBS) in India.
- May 2023: Continental AG supplied its new electronic brake systems for Electronic Stability Control (ESC), the MK 120 ESC, to Changan's Oshan X5 Plus and Uni-T models, which first entered series production worldwide in Shanghai, China.
Automotive Electronic Stability Control Systems Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.1.1 Growing Adoption of ADAS Features in Vehicles
4.2 Market Restraints
4.2.1 High Maintenance Cost May Hinder the Market Growth
4.3 Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size in Value USD)
5.1 By Vehicle Type
5.1.1 Passenger Cars
5.1.2 Commercial Vehicles
5.2 By Component
5.2.1 Sensor
5.2.2 ECU
5.2.3 Actuator
5.2.4 Other Components
5.3 By Sales Channel
5.3.1 OEM
5.3.2 Aftermarket
5.4 By Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.1.4 Rest Of North America
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Italy
5.4.2.5 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 India
5.4.3.2 China
5.4.3.3 Japan
5.4.3.4 South Korea
5.4.3.5 Rest of Asia-Pacific
5.4.4 Rest of the World
5.4.4.1 South America
5.4.4.2 Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles*
6.2.1 Robert Bosch GmbH
6.2.2 Continental AG
6.2.3 Denso Corporation
6.2.4 Autoliv Inc.
6.2.5 Delphi Automotive LLP
6.2.6 Nissin Kogyo
6.2.7 Hitachi Automotive Systems Limited
6.2.8 Knorr-Bremse AG
6.2.9 ZF Friedrichshafen AG
6.2.10 ADVICS CO.,LTD.
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Automotive Electronic Stability Control Systems Industry Segmentation
An automotive electronic stability control system is designed to control and maintain the stability of the vehicles. The system prevents the vehicle from skidding and prevents the vehicle from crashing.
The automotive electronic stability control system market is segmented into vehicle type, component, sales channel, and geography. Based on the vehicle type, the market is segmented into passenger cars and commercial vehicles. Based on the components, the market is segmented into sensors, ECUs, actuators, and other components. Based on the sales channel, the market is segmented into OEM and aftermarket. Based on geography, the market is segmented into North America, Europe, Asia-Pacific, and the rest of the world.
For each segment, the market sizing and forecast have been done based on the value (USD).
| By Vehicle Type | |
| Passenger Cars | |
| Commercial Vehicles |
| By Component | |
| Sensor | |
| ECU | |
| Actuator | |
| Other Components |
| By Sales Channel | |
| OEM | |
| Aftermarket |
| By Geography | |||||||
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Automotive Electronic Stability Control Systems Market Research FAQs
What is the current Automotive Electronic Stability Control Systems Market size?
The Automotive Electronic Stability Control Systems Market is projected to register a CAGR of greater than 10.5% during the forecast period (2024-2029)
Who are the key players in Automotive Electronic Stability Control Systems Market?
Robert Bosch GmbH , Continental AG, Denso Corporation, ZF Friedrichshafen AG and ADVICS CO.,LTD. are the major companies operating in the Automotive Electronic Stability Control Systems Market.
Which is the fastest growing region in Automotive Electronic Stability Control Systems Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Automotive Electronic Stability Control Systems Market?
In 2024, the North America accounts for the largest market share in Automotive Electronic Stability Control Systems Market.
What years does this Automotive Electronic Stability Control Systems Market cover?
The report covers the Automotive Electronic Stability Control Systems Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Automotive Electronic Stability Control Systems Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Automotive Electronic Stability Control Systems Industry Report
Statistics for the 2024 Automotive Electronic Stability Control Systems market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. Automotive Electronic Stability Control Systems analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Automotive Electronic Stability Control Systems Market Report Snapshots
