Global Electronic Stability Control Market Size, Share & Industry Trends Analysis Report By Component (Hydraulic Unit, Sensors and Electronic Control Unit), By Vehicle Propulsion (ICE and Electric & Hybrid), By Vehicle Type, By Regional Outlook and Forec

Global Electronic Stability Control Market Size, Share & Industry Trends Analysis Report By Component (Hydraulic Unit, Sensors and Electronic Control Unit), By Vehicle Propulsion (ICE and Electric & Hybrid), By Vehicle Type, By Regional Outlook and Forecast, 2022 - 2028

The Global Electronic Stability Control Market size is expected to reach $13.6 billion by 2028, rising at a market growth of 8.0% CAGR during the forecast period.

Automobiles, coaches, buses, and lorries can all be equipped with electronic stability control (ESC), commonly called the electronic stability program. The system, which includes a speed sensor and autonomous brakes for each wheel, is an expansion of antilock braking technology. In diverse driving circumstances, the main goal of ESC is to avoid vehicle skidding. To stop the car from sliding, the system recognizes hazardous driving situations and provides a specified amount of brake pressure to one or more wheels.

In addition, the ESC also automatically modifies the torque during a crucial driving condition to keep the driver in control of the steering. The ESC automatically applies the brakes to assist in steering the car in the direction the driver desires to travel when it senses a lack of steering control. The outer front wheel is automatically braked to oppose oversteer, while the inner rear wheel is automatically braked to counter understeer. Some ESC systems may reduce engine power while waiting for control to return. Instead of enhancing a vehicle's cornering capability, ESC works to lessen the likelihood that the driver may lose control of the car.

Only when there is a likely loss of steering control, such as when the car deviates from the driver's intended course, does the ESC step in. This may occur, for instance, during hydroplaning, understeering or oversteering during poorly assessed maneuvers on slick roads, or sliding during emergency evasive swerves. Since steering input doesn't always indicate the desired direction of travel while driving at high speeds, ESC may interfere when it's not wanted. To oppose the skid and bring the car back in line with the driver's requested direction, ESC first determines the direction of the skid and then applies the brakes asymmetrically to certain wheels. The system may also lower engine power or engage the transmission to slow the car down.

COVID-19 Impact Analysis

Most industry sectors globally have seen a significant effect due to the pandemic. In addition to affecting public health issues, it significantly disrupted financial or industrial activity. Some countries enacted partial or total lockdowns to stop the disease's spread. Also, COVID-19 is still affecting the automobile sector. The industry's supply chain has been hampered by several laws and regulations that the government has implemented, including limitations on import-export activity, travel and transportation restrictions, etc. As a result, the automotive sector has been negatively impacted due to the sharp fall in demand for automobiles, auto components, and other factors. Hence, the market for electronic stability control is projected to experience a rise in growth rate during the projected period as the world economy gets back on track.

Market Growth Factors

Growing adoption of autonomous mobility

The electronic stability control market expansion potential is expected to be highly profitable as autonomous mobility develops and gains popularity. Furthermore, safety is a major selling point for autonomous vehicles. Hence, the demand for better safety features in these vehicles positively affects the market growth. Moreover, level 5 vehicles must be fitted with various safety systems, including ADAS, ESC, and others, to produce fully autonomous vehicles. The usage of the electronic stability control in the next years is anticipated to increase as automakers are raising their investments in R&D efforts to produce fully autonomous cars.

High popularity of automobiles with safety features

Automakers are developing and delivering safety features to meet consumer demand. Thus, the market for electronic stability control is expanding due to the rising demand for safety features. The utilization of electronic stability control systems is expected to grow due to the demand for advanced safety features such as electronic control systems and anti-lock braking systems in automobiles. Also, with the increasing public awareness of the need for road safety combined with a significant uptick in deploying advanced driver assist systems in automobiles, the market expansion will surge.

Market Restraining Factors

Issues with electronic stability control system

Drivers shouldn't regard this functionality as improving performance. While ESC makes turning more manageable, this function can't make corners quicker because it can't enhance traction. Furthermore, high-Performance Driving is incompatible with ESC, which may interfere while driving at high speed. Because the steering input doesn't always recognize the desired direction during controlled drifting, unwanted ESC applications can occur. As high-performance driving can make ESC incompatible, joined with its other issues, the need for better alternatives might arise, which is expected to hamper the electronic stability control market's growth in the projected period.

Component Outlook

Based on component, the electronic stability control market is segmented into hydraulic unit, sensors and electronic control unit. The hydraulic unit segment held the highest revenue share in the electronic stability control market in 2021. This is due to the presence of shift valves for the individual wheel brakes in the hydraulic unit, which is required to manage brake pressure. They are employed in the hydraulic unit to regulate the three pressure states that call for regulation: increasing pressure, maintaining pressure and decreasing pressure. Also, the hydraulic unit often has the control unit for driving dynamics and braking.

Vehicle Type Outlook

On the basis of vehicle type, the electronic stability control market is divided into passenger cars, light commercial vehicles and heavy commercial vehicles. The passenger cars segment witnessed the largest revenue share in the electronic stability control market in 2021. The growth is attributed to the growing demand for high-end passenger cars with cutting-edge safety features. Government laws and regulations require the use of ESC in passenger vehicles. Many automakers are producing passenger cars with ESC systems already installed. Some mid-range automakers want to add ESC to their passenger vehicles in response to the growing number of safety rules.

Vehicle Propulsion Outlook

By vehicle propulsion, the electronic stability control market is classified into ICE and electric & hybrid. The electric & hybrid segment garnered a prominent revenue share in the electronic stability control market in 2021. This is because commercially available electric-drive cars are subject to the same stringent safety testing as conventional vehicles offered in many nations and are required to fulfill the Safety Standards in accordance with the nation they are being sold. Also, EVs are generally equipped with the most high-tech features to provide ease in driving and make the vehicle safer for the passengers. These factors are anticipated to drive the segment's growth in the projected period.

Regional Outlook

Region-wise, the electronic stability control market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific region led the electronic stability control market by generating the maximum revenue share in 2021. This is because of the vehicle production and sales growth in the area. Asia Pacific is predicted to account for many automotive electronic stability control systems. There is an increasing adoption rate of advanced driving assistance systems in many Asian nations. Moreover, it is projected that factors including rising consumer disposable income and rising demand for luxury automobiles would boost the market growth in the region.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Robert Bosch GmbH, Continental AG, Johnson Electric Holdings Limited, Aisin Corporation (Toyota Motor Corporation), Valeo SA, Murata Manufacturing Co., Ltd., Hitachi, Ltd., Knorr-Bremse AG, ZF Friedrichshafen AG (TRW), and Mando Corporation (Halla Group).

Strategies Deployed in Electronic Stability Control Market

2022-Mar: Continental AG came into partnership with Nisshinbo Holdings Inc., a Japanese company that has a diverse line of businesses that include electronics, automobile brakes, mechatronics, chemicals, textiles, papers, and real estate. Under this partnership, Continental AG would be able to pivot itself to deliver the Indian automotive sector with the new and latest features in safety technology that are entirely assembled and manufactured in India.

2021-Apr: Hitachi, Ltd., took over GlobalLogic, an American digital services company providing software product design and development services. Through this acquisition, Hitachi, Ltd. would be able to expand its delivery footprints in India with the help and support of GlobalLogic. Moreover, Hitachi, Ltd would be able to grow its customer base in the Europe and US.

2019-Jul: Continental AG unveiled the eHorizon and PreviewESC. Both the new developments consist of data processing, matched sensors, and assistance systems. Additionally, the vehicle would be able to know exactly how fast to travel to secure a journey that is both safe and speedy, as it predicts from the road surface conditions and bends. The eHorizon knows the surface conditions and route of the road ahead and communicates with the control system, whereas, PreviewESC is a different element in attaining accident-free driving.

2019-Mar: ZF Friedrichshafen AG took over WABCO, a U.S.-based provider of electronic braking, stability, suspension, and transmission automation systems for heavy-duty commercial vehicles. Through this acquisition, ZF Friedrichshafen AG would be able to append a steady and expanding business segment and allow its current commercial vehicle division to extend its expertise in vehicle dynamics control. Moreover, this step would construct the footing for ZF to deliver exhaustive systems for automated and secure mobility solutions for passengers and goods to its customers.

2018-Nov: Continental AG took over Cooper Standard Automotive Inc, a leading global supplier of systems and components for the automotive industry. Through this acquisition, Continental AG would be able to extend its international existence for noise reduction and anti-vibration technology, especially in North America. Moreover, this step would improve Continental's vibration control business and its capability to help the automotive industry on a worldwide level.

2018-Sep: Mando Corporation unveiled the new MGH-100. The MGH-100 is the latest electronic brake system, with an anti-lock brake system (ABS) that improves driving safety by lowering skidding while braking. Additionally, MGH-100 has features consisting of more than 40 functions needed for autonomous driving having adaptive cruise control (ACC), and autonomous emergency braking (AEB).

2018-Aug: Murata Manufacturing Co., Ltd. expanded its geographical footprint in Vantaa by building a MEMS sensor manufacturing factory. By expanding its geographical footprints, Murata Manufacturing Co., Ltd. would be able to improve its MEMS sensors production capacity which would further strengthen its business base in the industrial equipment, automotive market, and medical devices markets.

Scope of the Study

Market Segments covered in the Report:

By Component

• Hydraulic Unit
• Sensors
• Electronic Control Unit

By Vehicle Propulsion

• ICE
• Electric & Hybrid

By Vehicle Type

• Passenger cars
• Light Commercial Vehicles
• Heavy Commercial Vehicles

By Geography

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• UK
• France
• Russia
• Spain
• Italy
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• Singapore
• Malaysia
• Rest of Asia Pacific
• LAMEA
• Brazil
• Argentina
• UAE
• Saudi Arabia
• South Africa
• Nigeria
• Rest of LAMEA

Companies Profiled

• Robert Bosch GmbH
• Continental AG
• Johnson Electric Holdings Limited
• Aisin Corporation (Toyota Motor Corporation)
• Valeo SA
• Murata Manufacturing Co., Ltd.
• Hitachi, Ltd.
• Knorr-Bremse AG
• ZF Friedrichshafen AG (TRW)
• Mando Corporation (Halla Group)

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