Electronic Stability Control System Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Electronic Stability Control System Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Electronic Stability Control System Market

The electronic stability control system market size was valued at USD 36.71 billion in 2022, and the market is now projected to grow from USD 40.54 billion in 2023 to USD 83.82 billion by 2030, exhibiting a CAGR of 10.9% during the forecast period of 2023-2030.

The operations in the automobile industries and many related manufacturing processes were affected greatly by the pandemic, factories closed and the supply chain was affected. This led to a decline in vehicle availability, including those with electronic stability control system market growth. Some of the factors that have contributed to slightly low demand for these systems include delayed production launches of new models. However, as the market advances towards electric vehicles and advanced driver-assistance systems, there is expected to be a higher demand for such a technology in the future.

Government regulations mandating vehicle safety standards, such as compulsory electronic stability control systems, propel market growth. Since November 2011, the EU has required all new vehicles to meet specific performance standards, boosting demand. Automakers integrating the systems to comply with regulations drive market expansion. Global efforts to harmonize safety standards further fuel the electronic stability control system market share.

Additionally, the electronic stability control system market is experiencing a surge driven by increasing demands for road safety. Automotive industry leaders heavily invest in research and development to advance electronic stability control technology, aiming to enhance performance and broaden applicability. Notably, Bosch is a prominent player investing significantly in the research and development. As autonomous mobility evolves, these systems become even more vital for ensuring vehicle stability and control, aligning with the heightened safety standards of driverless vehicles.

Comprehensive Analysis of Medical Devices Market

The electronic stability control system market and automotive industry are experiencing rapid growth, driven by market segmentation. This expansion offers thorough regional evaluations, analyzing influential supply and demand factors within the automotive sector. Segments are carefully divided by vehicle type and component to provide comprehensive insights. The vehicle types include, Passenger Vehicle (Hatchback, Sedan, SUV, MPV) and Commercial Vehicle (Light Commercial Vehicle, Heavy Commercial Vehicle). The component includes, Hydraulic Modulator, Sensors, and ECU.

The Asia Pacific emerged as the largest market share contributor in 2022, especially China and India where vehicle sales increased significantly. An increasing number of vehicle sales in the region require such safety features as Electronic Stability Control System in cars. These foster regulations and increased consumer consciousness in countries such as Japan, South Korea, China, and Australia are boosting the growth of ESC systems. This has been made possible by the need to meet the regulatory requirements and ensure the safety of vehicles on the roads.

Leading market players are essential in the automotive industry, driving industrial growth and establishing market standards. These players include, Robert Bosch GmbH (Germany), Continental AG (Germany), ZF Friedrichshafen AG (Germany), Delphi Automotive LLP (U.K.), WABCO (France), Hitachi Automotive System Ltd. (Japan), Autoliv Inc. (Sweden), Knorr-Bremse AG (Germany), Mando Corp (South Korea) and Johnson Electric (Hong Kong).

In May 2023, The German manufacturer of automobile parts, Continental AG, approached a Chinese automobile producer Changan on the creation of its new innovative brakes MK 120 ESC with electronics for road protection.

Segmentation Table

GlobalElectronic Stability Control SystemMarket Scope

Study Period 2019-2030

Base Year 2022

Forecast Period 2023-2030

Growth Rate CAGR of 10.9% from 2023 to 2030

Historical Period 2019-2021

Unit Value (USD Billion)

Segmentation By Vehicle Type, Component, and Region

By Vehicle Type Passenger Vehicle

- Hatchback

- Sedan

- SUV

- MPV

Commercial Vehicle

- Light Commercial Vehicle

- Heavy Commercial Vehicle

By Component Hydraulic Modulator

Sensors

ECU

By Region North America (By Vehicle Type, By Component)

- U.S. (By Vehicle Type)

- Canada (By Vehicle Type)

- Mexico (By Vehicle Type)

Europe (By Vehicle Type, By Component)

- U.K. (By Vehicle Type)

- Germany (By Vehicle Type)

- France (By Vehicle Type)

- Italy (By Vehicle Type)

- Rest of Europe (By Vehicle Type)

Asia Pacific (By Vehicle Type, By Component)

- China (By Vehicle Type)

- India (By Vehicle Type)

- Japan (By Vehicle Type)

- South Korea (By Vehicle Type)

- Rest of Asia Pacific (By Vehicle Type)

Rest of the World (By Vehicle Type, By Component)


Please Note: It will take 5-6 business days to complete the report upon order confirmation.