Traction Control System Market size is set to grow by USD 12.3 billion from 2024-2028, Robust demand for autonomous vehicles boost the market, Technavio
NEW YORK, July 12, 2024 /PRNewswire/ -- The global traction control system market size is estimated to grow by USD 12.3 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 6.74% during the forecast period. Robust demand for autonomous vehicles is driving market growth, with a trend towards increasing adoption of advanced driver assistance systems (ADAS). However, technological complexity associated with traction control systems poses a challenge. Key market players include 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.
Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report
Traction Control System Market Scope
Report Coverage
Details
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 2022-2023 (%) 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
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 Driver
Traction control systems are essential components of Advanced Driver Assistance Systems (ADAS), which include features like anti-lock braking systems (ABS), lane-keeping assistance, and collision avoidance systems. These systems enhance vehicle stability and control during acceleration and deceleration. With the increasing popularity of ADAS technologies, the demand for traction control systems is rising. Consumers value the safety and convenience benefits offered by these systems, making them an integral part of ADAS. As a result, the expanding market for ADAS will positively impact the growth of the global traction control system market during the forecast period.
The Traction Control System (TCS) market is experiencing significant growth due to increasing demand for safety applications in modern vehicles. Automobiles, both passenger and commercial, are integrating advanced safety features like active braking systems and TCS to enhance vehicle safety. However, the high maintenance cost associated with these electrical and electronic components can be a hindrance for some vehicle manufacturers. Safety standard ratings and emission regulations are driving the market, with TCS being a crucial safety device for preventing wheel spin and maintaining vehicle stability. TCS uses hydraulic modulators and electronic linkage to control engine torque and throttle input based on road conditions. Weight reduction strategies are also a trend in the market, with TCS being an essential component for maintaining vehicle control and improving ride quality in electric vehicles. Anti-lock braking systems and battery management systems are integral to the functioning of TCS in electric vehicles. In the ride-hailing and ridesharing sectors, TCS is becoming a standard safety feature, ensuring passenger safety and comfort. Despite the challenges, the market is expected to continue growing, with vehicle manufacturers focusing on developing cost-effective TCS solutions and integrating them with other safety and comfort systems.
Discover 360° analysis of this market. For complete information, schedule your consultation - Book Here!
Market Challenges
-- Traction control systems are essential vehicle components that ensure
optimal power delivery to the wheels while maintaining stability and
preventing wheel slippage. These systems interact closely with the
engine, braking, and stability control systems, necessitating intricate
integration. Developing and fine-tuning the sophisticated algorithms
that analyze sensor data to detect wheel slips is a complex process.
Factors such as wheel speed differentials, vehicle speed, steering
input, and road conditions are considered. Integrating traction control
systems with advanced driver-assistance systems (ADAS) and pursuing
autonomous driving capabilities adds to their technological complexity.
This complexity may pose challenges to the growth of the global traction
control systems market.
-- Traction Control Systems (TCS) have become essential vehicle safety
features in modern passenger and commercial vehicles. However,
implementing TCS in mechanical and electrical systems poses challenges.
In mechanical systems, maintaining grip on wheels during extreme weather
conditions like snow, rain, and ice can be difficult. In electrical
systems, ensuring smooth operation in electric vehicles requires
addressing battery level, vehicle speed, stop light, throttle position,
and wheel speed sensors. Ride-hailing and ridesharing services,
including passenger vehicles and commercial vehicles, benefit
significantly from TCS. TCS helps maintain vehicle stability and
control, preventing skidding and improving road safety. However, TCS
implementation adds complexity and maintenance costs. Mechanical
linkages and mechanical linkages in four-wheel drive systems require
regular checks. Additionally, electronic coupling and emissions concerns
in electric vehicles can impact fuel efficiency and emission norms.
Manufacturers face challenges in ensuring TCS compatibility with ABS and
other safety features. Mechanical and electrical failures, such as ECU
dysfunctioning, can disrupt TCS functionality. Despite these challenges,
TCS remains a critical component in ensuring vehicle safety and
performance.
For more insights on driver and challenges - Request a sample report!
Segment Overview
This traction control system market report extensively covers market segmentation by
1. Type
-- 1.1 Electric linkage
-- 1.2 Mechanical linkage
2. Vehicle Type
-- 2.1 Passenger cars
-- 2.2 Light commercial vehicles
-- 2.3 Heavy commercial vehicles
3. Geography
-- 3.1 APAC
-- 3.2 Europe
-- 3.3 North America
-- 3.4 Middle East and Africa
-- 3.5 South America
1.1 Electric linkage- The Traction Control System (TCS) market encompasses various applications in passenger cars, light commercial vehicles (LCVs), and heavy commercial vehicles. Malfunctions in the ECU can hinder TCS functionality, affecting four-wheel drive performance, emissions, and fuel consumption. Mechanical linkages and electrical linkages are essential components in TCS, with hydraulic modulators and battery-powered electric coupling playing significant roles. Manufacturers prioritize fuel efficiency and emission norms, integrating TCS with advanced braking systems, comfort systems, and safety applications such as active braking systems and anti-lock braking systems. However, the high maintenance cost associated with mechanical linkages and electronic components can be a hindrance. Weight reduction strategies and the integration of electronic linkages are ongoing efforts to address these challenges. Vehicle safety standards continue to evolve, necessitating the development of more sophisticated TCS systems. Electronic control modules and strategies such as torque vectoring and power distribution are essential to meeting safety standard ratings and enhancing vehicle performance. Despite these advancements, the TCS market faces ongoing challenges, including the integration of TCS with other vehicle systems and the increasing complexity of electronic components.
For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) - Download a Sample Report
Research Analysis
The Traction Control System (TCS) market encompasses both mechanical and electrical systems that ensure vehicle stability and safety, particularly in adverse road conditions. TCS is a crucial safety feature in modern passenger and commercial vehicles, including electric ones, and is increasingly essential for ride-hailing and ridesharing services. TCS functions by monitoring wheels' rotation speed and adjusting throttle input and engine torque to prevent wheel spin and maintain traction on slippery roads caused by rain, snow, or extreme weather conditions. TCS works in tandem with other safety applications like active braking systems to enhance vehicle safety and comfort. However, high maintenance costs and safety standard ratings are significant challenges for TCS market growth. Global safety protocols continue to prioritize vehicle safety, making TCS an indispensable component of automobiles.
Market Research Overview
Traction Control Systems (TCS) are vital safety features in modern vehicles, enhancing vehicle stability and road grip. TCS can be mechanical or electrical, working in passenger cars, commercial vehicles, and electric vehicles. In extreme weather conditions like snow, rain, or ice, TCS monitors wheels' rotation speed and adjusts engine torque and throttle input to prevent wheel slippage. TCS interacts with Anti-lock Braking Systems (ABS), wheel speed sensors, and brake systems. Mechanical linkages and electrical linkages or electronic couplings are used. TCS reduces emissions, improves fuel efficiency, and meets emission norms. However, high maintenance costs due to ECU dysfunctioning and replacement of sensors can be hindrances. TCS is also used in ride-hailing and ridesharing services, enhancing safety and comfort systems. Manufacturers continuously innovate, integrating TCS with advanced braking systems and active safety applications.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
-- Type
-- Electric Linkage
-- Mechanical Linkage
-- Vehicle Type
-- Passenger Cars
-- Light Commercial Vehicles
-- Heavy Commercial Vehicles
-- Geography
-- APAC
-- Europe
-- North America
-- Middle East And Africa
-- South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
View original content to download multimedia:https://www.prnewswire.com/news-releases/traction-control-system-market-size-is-set-to-grow-by-usd-12-3-billion-from-2024-2028--robust-demand-for-autonomous-vehicles-boost-the-market-technavio-302195561.html
SOURCE Technavio
