Global Automotive Electronic Brake System Market Size, Share, Forecast Report, 2020-2027
Recent technological advancement has enabled the automotive manufacturers to offer the high-performance features and enhance overall efficiency. Efficient vehicle stability and vehicle safety is major concern while dealing with high speed vehicles. To overcome these challenges automakers are incorporating the electronics systems and additional features for efficient, cost-effective, and durable braking system. Therefore, the sue of advanced braking system is increasing in automotive as it is a decisive system to control vehicle motion, reduce vehicle stopping range and ensure the safety of goods and passengers. Automotive manufacturers are using electronic braking system (EBS) to achieve brake stability and for the reduction in stopping distance. This system interconnects with other components such as signal transmitter, valves modulators and other components electronically to actuate brakes on the request.
Global Automotive Electronic Brake System market has seen remarkable growth; expected to rise at a CAGR of ~5.4%.
EBS provides numerous advantages over conventional systems like predictive braking controls, lower maintenance, reduction in number of brake system component, and enhanced diagnostic of the complete system. Sales of automotive electronic braking systems is also associated with the increasing demand for passenger cars and light commercial vehicles. Stringent government norms regarding occupant safety, increasing demand for advanced safety systems in vehicles, increasing need to reduce vehicle weight and improve vehicle efficiency are expected to further fuel the demand of EBS. However, availability of low-cost substitutes by local manufacturers in many regions may hamper the market growth.
Global automotive electronic brake system market is segmented on the basis of vehicle type, technology, components, sales channel, and region. Vehicle type segment is divided into passenger vehicles, and commercial vehicles. On the basis of technology, the market has been segmented into brake assistance, autonomous emergency braking, electronic stability control and anti-lock braking systems. Component segment is further classified as, sensors actuators, control units and others. Sales channel segment is bifurcated as OEM and aftermarket.
Geographically, the global automotive electronic brake system market has been segmented into the four major regions of North America, Europe, Asia-Pacific, and the Rest of the World. North America is dominating currently the market. However, Asia-Pacific is estimated to register the highest growth rate during the forecast period. Presence of Japan, South Korea with their stringent safety norms and firm government regulations towards vehicle safety and increasing production and sale of automobiles because of high population, easy availability of low-cost labors and raw materials, in countries like India and China is estimated to boost the growth for automotive electronic brake system market in Asia-Pacific.
The prominent players in the global Automotive Electronic Brake System market include 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), are among others.