The automotive sector is a significant sector in major economies in the world. Reportedly, in 2022, 85.02 MMT motor vehicles were produced around the world, an increase of 5.7% compared to 2021.
Total Automotive Production (in MMT), 2018-22
The rising adoption of advanced driver assistance systems (ADAS), which comprise lane-keeping assistance, collision avoidance systems, and anti-lock braking systems (ABS), drives the traction control system market growth. The benefits provided by traction control systems, such as preventing wheel slipping on slippery roads and enhancing car stability, decrease the probability of car accidents. Compared to 2021, there were 11.9% more traffic accidents in 2022. Such growing incidences of road accidents necessitate the employment of traction control systems in vehicles.
Innovations in traction control systems further aid the market expansion. In October 2023, Kawasaki Motors Corp. reintroduced the middleweight retro Z650RS model with a traction control system. The model consists of a 649-cc parallel-twin engine that produces 68 hp and a 64 Nm peak of torque, which makes the model safer and easier to handle on slippery roads.
In true neo-retro style, the Z650RS's design borrows from the larger inline-four Z900RS and features a simpler, cleaner shape than the Z650 model. The Z650RS's quasi-spoke alloy wheels, single-piece seat, digi-analogue instruments, and round headlight, a contemporary LED unit, are all centred around a reasonably sporty engine and chassis combination. Newer and seasoned riders can find it easier to handle the 68 hp and 64 nm output figures with the addition of the 3-level KTRC system. In Europe, the model is available in three colour options, such as candy medium red, metallic silver, and carbon black.
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The major players in the global traction control system market are Robert Bosch GmbH, MAHLE GmbH, DENSO Corporation, Continental AG, and Hyundai Motor Group, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
|Scope of the Report
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|Breakup by Type
|Breakup by Component
|Breakup by Distribution Channel
|Breakup by Vehicle Type
|Breakup by Region
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