Global Traction Control System Market Size To Grow At A CAGR Of 6.2% In The Forecast Period Of 2022-2027

A traction control system refers to a system that aids a vehicle to maintain control over slippery or wet surfaces during acceleration or retardation. The basic working of a traction control system involves the detection of grip loss of a tyre and prevention of its movement.

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Traction Control System Market Size, Share, Industry Trends 2022-2027
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Traction Control System Market Size, Share, Industry Trends 2022-2027

The global traction control system market reached a value of about USD 32 billion in 2020. The market is further expected to grow at a CAGR of 6.2% in the forecast period of 2022-2027 to reach a value of approximately USD 47 billion by 2026.