the present scenario (with the base year being 2017) and the growth prospects of global Electronic Stability Control (ESC) market for 2018-2023.
Electronic Stability Control (ESC) is highly effective in helping the driver maintain control of the car, thereby avoiding or reducing the severity of crashes. Electronic Stability Control (ESC) is a technology that improves the vehicle’s stability by detecting and reducing loss of traction.
In the coming years, the increasing demand for luxury cars in the regions such as Europe and Asia-Pacific, mainly in China, India and Japan, is expected to drive the market. Sustainable growth in the electronic stability control system market will largely depend upon upcoming legislations in various countries. ESC systems are mandatory in developed countries, while legislations in developing countries are rapidly catching up creating high growth opportunities.
Globally, the Electronic Stability Control industry market is concentrated as the manufacturing technology of Electronic Stability Control is relatively matures than some high-tech equipment. And some enterprises, like Bosch, Continental, TRW Automotive, etc. are well-known for the wonderful performance of their Electronic Stability Control and related services. At the same time, Europe, occupied 32.67% production market share in 2015, is remarkable in the global Electronic Stability Control industry because of their market share and technology status of Electronic Stability Control.
In Europe and North America, ESC systems are well-established and have a high penetration rate. The use of these systems is also growing significantly in the Asia-Pacific and ROW regions, due to the increase in the consumer purchasing power and their preference for better safety measures and the introduction of legislation and policy framework mandating the installation of safety equipment in cars. Developing countries such as India, Russia, Brazil, and Mexico are expected to show a high growth rate in the demand for ESC systems.The consumption volume of Electronic Stability Control is related to downstream industries and global economy. As there will always be some uncertain in the global economy in the following years, the growth rate of Electronic Stability Control industry may not keep that fast. But it is surely forecasted that the market of Electronic Stability Control is still promising.
Over the next five years, LPI(LP Information) projects that Electronic Stability Control (ESC) will register a 3.4% CAGR in terms of revenue, reach US$ 13100 million by 2023, from US$ 10700 million in 2017.
This report presents a comprehensive overview, market shares, and growth opportunities of Electronic Stability Control (ESC) market by product type, application, key manufacturers and key regions.
To calculate the market size, LP Information considers value and volume generated from the sales of the following segments:
Segmentation by product type:
Vehicle Stability Control
Motorcycle Stability Control
Segmentation by application:
This report also splits the market by region:
Middle East & Africa
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report:
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
To study and analyze the global Electronic Stability Control (ESC) consumption (value & volume) by key regions/countries, product type and application, history data from 2013 to 2017, and forecast to 2023.
To understand the structure of Electronic Stability Control (ESC) market by identifying its various subsegments.
Focuses on the key global Electronic Stability Control (ESC) manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Electronic Stability Control (ESC) with respect to individual growth trends, future prospects, and their contribution to the total