World News: 14:37 GMT Wednesday 15th May 2019. [Allied Market Research via Globe Newswire via SPi World News]
Portland, May 15, 2019 (GLOBE NEWSWIRE) -- According to the report,
The rise in demand for safety features, rapid technological advancements, and increasing global safety protocols for vehicle safety are the major drivers of the global traction control system market. However, expensive integration of technology and high maintenance cost along with high safety standard ratings hamper the market growth. On the contrary, expansion in the untapped market of developing countries is expected to create lucrative opportunities in the near future.
The global traction control system market is segmented on the basis of type, installation, component, vehicle type, and region. Based on type, the market is divided into mechanical linkage and electric linkage. The mechanical linkage segment held the largest share, contributing about two-thirds of the total market share in 2017. However, the electrical linkage segment is projected to register the fastest CAGR of 17.4% during the forecast period.
On the basis of installation, the market is divided into home and commercial. Based on vehicle type, the market is segmented into ICE and electric vehicles. The ICE vehicle segment dominated the market in 2017, contributing around 97% of the total market and is expected to maintain its dominance throughout the study period. However, the electric vehicles segment is projected to manifest the fastest CAGR of 20.1% during the forecast period, owing to high-end functions and extended range offered by the vehicles.
The report includes in-depth analysis across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across the Asia-Pacific region held the lion’s share in 2017, accounting for nearly two-fifths of the total market and is estimated to continue this trend through 2025. This is attributed to the government support for the automotive industry, rapid industrialization, and rise in demand for electric vehicles. However, the market across LAMEA is projected to portray the fastest CAGR of 13.1% during the study period.
The report includes an in-depth analysis of the such as Continental AG (Germany), Robert Bosch GmbH (Germany), Nissin Kogyo Co. Ltd. (Japan), Autoliv, Inc. (Sweden), ZF TRW (U.S.), WABCO (Belgium), Denso Corporation (Japan), Hyundai Mobis (South Korea), ADVICS Co., Ltd (Japan), and Hitachi Automotive Systems, Ltd. (U.S.).
Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
5933 NE Win Sivers Drive
#205, Portland, OR 97220
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022, +1-503-446-1141
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Globe Newswire: 14:37 GMT Wednesday 15th May 2019
SPi News is published by Sector Publishing Intelligence Ltd.
© Sector Publishing Intelligence Ltd 2019. [Admin Only]
Sector Publishing Intelligence Ltd.
Agriculture House, Acland Road, DORCHESTER, Dorset DT1 1EF United Kingdom
Registered in England and Wales number 07519380.