ID: MRFR/AM/5444-HCR | February 2021 | Region: Global | 100 pages
During the historic forecast period that ended in 2019, the automotive electronic brake system market size was closed at a market figure worth USD 20.9 billion. For the ongoing forecast period of 2021-2028, the market is expected to grow and attain a market CAGR of 5.4% during the period. Also, by the end of the period in 2028, the market is expected to reach a final market value worth USD 26.5 billion. There are a lot of prominent factors like the rollout of stringent safety regulations. Also, the adoption of high-end and luxury cars available in the market along with the growing adoption and presence of air disc brakes in commercial vehicles is likely to play in favor of the market expansion and growth during the forecast period.
COVID 19 Analysis
The arrival of the COVID-19 outbreak has disrupted the entire automotive supply chain mechanism that exists in the market especially for the ongoing forecast period. On the global scale, the second and third quarters of the pandemic had a huge impact on the sales of new vehicles. The same trend was followed at the beginning of the financial year of 2021. Based on the market research and analysis, the vehicle production that is inclusive of the HDV and LDV witnessed a huge decline in 2020. The market figure of decline was 19.6%. Due to the pandemic, the recovery time was very uncertain and the lockdown that was imposed resulted in the shutdown of manufacturing facilities in various parts of the worldwide market.
The most prominent major key players in the automotive electronic brake system market all across the globe are mentioned below:
These major key players use various strategies to sustain their market position in the automotive electronic brake system market in the global market by going for mergers, and acquisitions, by collaborating, setting up a new joint venture, establishing a partnership, developing a new product line, innovation in the existing product, developing a unique production process, and many others to expand their customer base in the untapped market all across the globe.
The final rule that requires the heavy truck tractors should stop within 235 feet on being loaded as per their LLVW is the lightly loaded vehicle weight. The brakes used in the present market help stop power while applying them. Also, 60-90% of the vehicle’s stopping power is possible because of the front wheels. The implementation of regulations is fruitful for market growth.
The advanced braking technologies that are being employed are inclusive of complex interlinking of electronic and mechanical systems. As per the National Academies of Sciences, Engineering, Medicine, and the Transportation Research Board (TRB), the cost of implementation of the braking systems on the vehicles can be done at an amount of USD 50 per vehicle.
The market equipment is one of the latest technology that is very helpful in achieving the weight reduction target of the vehicles. Also, the implementation of this system is useful in eliminating the mechanical linkages that exist between a system and replace them with electric wires, motors, and actuators. Apart from reducing the weight, they have been recognized for improving the response time of the system by employing other combinations of technologies like the antilock braking system, electronic stability program, electronic parking brake, and brake-by-wire technology in the years to come.
The automotive electronic brake system market has been divided all across the globe based on technology, sales channel, component, vehicle type, and region.
Based on the Technology
The market has been divided all across the globe based on the technology into the anti-lock braking system, electronic stability control, autonomous emergency braking, and brake assistance.
Based on the Sales Channel
The market has been divided all across the globe based on the sales channel into aftermarket and OEM sales channels.
Based on the Component
The market has been divided all across the globe based on the component into control units, actuators, sensors, and others.
Based on the Vehicle Type
The market has been divided all across the globe based on the vehicle type into commercial vehicles and passenger vehicles.
Based on the Region
The market has been divided worldwide based on the region into the North American region, Asia-Pacific region, European region, Latin American region, and the Middle East and African region.
The automotive electronic brake system market has been divided all across the globe based on the region into North American region, Asia-Pacific region, European region, Latin American region, and the Middle East and African region. The largest market share in the global market is held by the North American region owing to the presence of countries like the US, Canada, and Mexico that drive the market demand in this region. Moreover, the increasing demand for fuel-efficient vehicles coupled with higher per capita income creates more market demand.
Being the fastest-emerging region, the second-largest market share in the global market is held by the Asia-Pacific region owing to the presence of highly populous countries like India, China, Japan, South Korea, Australia, and various other countries that drive the market demand in this region. Moreover, increasing investment coupled with increasing sales and production of automobiles and stringent policies levied by the government is another factor that generates more market demand.
The third-largest market share in the global market is held by the European region owing to the presence of a well-established technologically advanced infrastructure that creates more market demand for automotive vehicles in this region. Increasing investment done by various major key players is yet another factor that drives the market demand in this region.
The Latin American region and the Middle East and African region show the least market share due to the presence of low infrastructure in both these regions. Low per capita income is another contributing factor that restricts the market growth in these regions.
This global automotive electronic brake system market research report consists of the following components mentioned below:
This market research report contains factors that drive the growth of the automotive electronic brake system market in the global market and the factors that restrict its growth in the global market. The technical analysis in the global market during the forecasted period is mentioned. The impact of COVID 19 on the automotive electronic brake system market in the global market is mentioned. The future growth rate in the automotive electronic brake system market during the review period is estimated and mentioned.
|Market Size||2030 : Significant Value|
|CAGR||5.4 % CAGR (2022 to 2030)|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Technology, Component, Vehicle Type and Sales Channel|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Advics Group (US), Autoliv Inc. (Sweden), Continental AG (Germany), Delphi Automotive Plc (US), Denso Corporation (Japan), Haldex AB (Sweden), Knorr Bremse AG (Germany), Robert Bosch GMBH (Germany), Wabco Holdings Inc. (US), ZF TRW Automotive (US)|
|Key Market Opportunities||
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The projected growth rate of the market in the near future can be 5.4%.
The market is slated to note an exponential surge in the coming years, thanks to the booming automotive industry all over the world.
Autoliv Inc. (Sweden), Wabco Holdings Inc. (US), Delphi Automotive Plc (US), Knorr Bremse AG (Germany), ZF TRW Automotive (US), Continental AG (Germany), Haldex AB (Sweden), Advics Group (US), Robert Bosch GMBH (Germany), Denso Corporation (Japan), are the well-established market players.
North America is the most prominent regional market at present.
India and China are the leading countries in the APAC market.