According to the research literature titled ‘Electronic Stability Control System Market Size By Vehicle Type (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles), By Component (Hydraulic Control Unit, Sensors, Electronic Control Unit (ECU)), Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2019 - 2025’, available with Market Study Report, global electronic stability control system market size is projected to surpass USD 45 billion by the end of the forecast period 2019-2025.
 

As per the findings of the report, global electronic stability control systems market is driven by growing focus towards reducing accidents, and stringent government directives for vehicle & passenger safety.
 

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Speaking of the restraints, elevated costs of vehicles fitted with electronic stability control solutions, along with increased complexities arising from a number of sensors and control units are negatively impacting the product adoption in entry-level cars. Moreover, high raw materials costs and shutdown of production plants by big names, such as General Motors, in North America has negatively impacted business dynamics. However, technological innovations and new product development are expected to enhance the overall electronic stability control system industry revenue scope in the upcoming years.
 

For the uninitiated, vehicle stability and traction control systems have become an integral part of improving vehicle safety. Growing necessity of preventing vehicle skidding due to slippery road condition, sudden braking and loss of control by drivers have boosted the demand for such systems. This component use various sensors, like lateral acceleration sensors, wheel speed sensors, and steering angle, to determine the optimal braking forces required for individually wheels. Traction control systems and ABS are usually integrated with electronic stability control system, which is responsible for preventing understeer and oversteer in vehicles.
 

Based on vehicle type, global electronic stability control system industry size from light and heavy commercial vehicle segments is touted to grow considerably in the upcoming years. Rising awareness regarding vehicle safety and increasing number of product launches by manufacturers for commercial vehicles are fostering the growth of the segments.
 

Considering the geographical outlook, Europe electronic stability control systems market will witness a positive growth trend through 2025. Higher demand for vehicle safety features, strong presence of prominent manufacturers, and EU mandate for electronic stability control systems in both passenger and commercial cars are favoring the regional market growth.
 

Elaborating on the competitive landscape, ZF Friedrichshafen AG, WABCO, Robert Bosch GmbH, Murata Manufacturing Co., Ltd., Knorr-Bremse AG, Johnson Electric Holdings Ltd., IAV Automotive Engineering Inc., Hyundai Mobis Co., Ltd., Hitachi Automotive Systems Inc., General Motors, Denso Corp., Continental AG, Bendix Commercial Vehicle Systems LLC, Advics Co., Ltd., Autoliv Inc., and Aisin Sieki Co., Ltd. are the top contenders in global electronic stability control system market.