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Traction Control System Market Global Briefing and Future Outlook 2022 to 2028
Traction Control System Market
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Companies Profiled in this report includes: ADVICS Co., Ltd, Autoliv Inc, Continental AG, Denso Corporation, Hitachi Automotive Systems Americas Inc, Hyundai Mobis Co., Ltd, Nissin Kogyo Co., Ltd, Robert Bosch GmbH, WABCO Holdings Inc, ZF Friedrichshafen AG
MARKET SEGMENTATION
Based on type, the global traction control system market is segmented into mechanical linkage and electrical linkage.
On the basis of component, the market is segmented into hydraulic modulators, ECU [electric control unit], and sensor.
Based on vehicle type, the market is bifurcated into ICE [internal combustion engine] vehicles and electric vehicles.
MARKET DYNAMICS
Drivers:
Rising demand for high-end vehicles in many developing countries of Asia Pacific region.
Increasing per capita disposable income to boost market growth of traction control system.
Restraints:
Unorganized retail sector in few developing countries of the Middle East and Africa region.
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IMPACT OF COVID-19 ON TRACTION CONTROL SYSTEM MARKET
The outbreak of the COVID-19 has severely impacted the automotive, transportation and other related industries adversely. The emergence of COVID-19 virus across the globe which led to lockdown scenarios has led to unprecedented series of border closures across the globe. This disruption of global supply chain has left an adverse impact on the automotive industry. This pandemic restricted movement of people from one place to another. Owing to job losses or salary cuts, buying capacity of the consumer was also reduced. Restrictions of limited workforce at production site affected the traction control market from supply side also. All the mentioned factors have impacted the market negatively. However, post pandemic, this market is expected grow considerably.
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Contact Us:
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Contact Person: Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876
About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
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