Automotive Electronic Brake System Market Size, Share, Growth, and Industry Growth by Type (Traction Control System (TCS), Anti-lock Braking System (ABS), and Electronic Stability Control (ESC)) By Application (OEM and Aftermarket) Regional Forecast To 2031

Updated On: 08 July 2024

AUTOMOTIVE ELECTRONIC BRAKE SYSTEM MARKET REPORT OVERVIEW

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The global automotive electronic brake system market size is estimated to be USD 888.3 million in 2022 and the market is projected to touch USD 3028 million by 2031, exhibiting a CAGR of 14.6% during the forecast period. In the market study, our analysts have considered automotive electronic brake system players such as AutolivInc, Contenental Ag, Delphi Automotive Plc., Denso Corporation, TRW Automotive, and Robert Bosch GMBH.

The global COVID-19 pandemic has been unprecedented and staggering, with automotive electronic brake system experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels.

Automotive electronic brake system is used to enhance brake stability and for reduction in stopping distance. The system communicates with other components such as valve modulators, signal transmitter, and other features.

Growing demand for road safety is estimated to surge market growth. High need to reduce vehicle stopping range is predicted to accelerate market progress. Increasing order to ensure safety pf passengers and goods coupled with increasing demand for light commercial vehicles and passenger’s cars are estimated to accelerate market growth. Further, increasing need to improve vehicle efficiency and reduce vehicle weight. Government regulations to improve braking systems and growth in automotive sector are anticipated to accelerate market growth. However, high maintenance costs and air brake freeze-ups. Therefore, these factors are expected to limit market growth in the upcoming years.  

COVID-19 Impact: Supply and Chain Disruption in Automotive Sector to Hamper Market Growth

An outbreak of COVID-19 pandemic disrupted the automotive sector supply chain. Closure of manufacturing units affected production activities. Global travel prohibition reduced production demand. Lack of commercial collaboration and partnership chances declined market growth. On the contrary, post-pandemic, the market is expected to grow significantly owing to the upliftment of restrictions and increasing safety concerns and government regulation. Further, evolving innovative technologies in the automotive sector are predicted to surge automotive electronic brake system market growth.

LATEST TRENDS

"Growing Demand for Anti-Lock Braking System (ABS) to Foster Market Expansion"

Increase in demand for anti-lock braking system (ABS) is anticipated to fuel market growth. The system reduces braking distances which help wheels to reduce distance skidding. It helps to avoids wheel lock up and which permits surefooted braking on wet sleety surfaces. Further, the braking system allows a vehicle to steer around objects. It acts as intense braking. Therefore, the advantages of the system are projected to drive market growth. The system helps to control vehicle motion at high speed and is estimated to accelerate market growth. The rise in number of fatalities to incorporate safety is expected to expand market progress in the upcoming years. Growing research and development activities to enhance braking systems for better brake stability. Therefore, these factors are anticipated to fuel market growth.

AUTOMOTIVE ELECTRONIC BRAKE SYSTEM MARKET SEGMENTATION

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• By Type

Based on type, the market is divided into traction control system (TCS), anti-lock braking system (ABS), and electronic stability control (ESC).

Anti-lock braking system is expected to be the leading part of the segmentation type.

• By Application

Based on the application, the market is divided into OEM and Aftermarket.

OEM is expected to be the leading part of application segmentation.

DRIVING FACTORS

"Government Initiatives to Ensure Safety to Incite Market Growth."

Increase in government initiatives globally to ensure safety is estimated to surge market growth. According to the National Highway Traffic Safety Administration (NHTSA), in 2022, a division of the U.S. transportation department is planning to adopt a mandatory braking system. An increase in the adoption of electric vehicles globally coupled with a growing focus on autonomous vehicles is anticipated to accelerate market growth. Growing technological advancements such as aerodynamic design accelerates engine power to achieve faster speeds. High speeds require robust control braking systems. These factors are anticipated to surge market growth in the upcoming years. Growing awareness about the benefits of braking systems is expected to surge automotive electronic brake system market growth.

"Increase Awareness about Road Safety and Growth in Automotive Sector to Magnify Market Progress "

Increase in awareness about road safety is anticipated to boost braking system adoption. Growing need to improve vehicle efficiency and reduce vehicle weight is estimated to expand market growth. Increasing adoption of a vehicle and growing number of passenger cars and light commercial vehicles. Such factors are predicted to fuel market growth in the upcoming years. Furthermore, high demand for advanced safety systems in cars is anticipated to surge market growth. Growing adoption of light commercial vehicles (LCV) for their better breaking transmission, better heat dissipation than mechanical brakes, ease to repair, and compact size. Such advantages of the brake systems are predicted to fuel market growth in the upcoming years. In addition, the automotive sector is developing better, and new products are estimated to fuel automotive electronic brake system market growth.

RESTRAINING FACTORS  

"High Cost and Maintenance of the System to Hamper Market Growth"

High maintenance costs and air brake freeze-ups. Therefore, these factors are anticipated to limit market growth in the upcoming years. 

AUTOMOTIVE ELECTRONIC BRAKE SYSTEM MARKET REGIONAL INSIGHTS

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"Increase in Disposable Income in Asia Pacific to Drive Market Share "

Asia Pacific is anticipated to lead largest automotive electronic brake system market share owing to an increase in disposable income and presence of manufacturing units. Increase in demand for commercial and light vehicles is anticipated to accelerate market growth. Increasing vehicle production and implementation of stringent safety standards are projected to drive market growth. Changing consumer preferences and the growing levels of farm mechanization in the Asia Pacific are predicted to expand market growth in the upcoming years.

North America is estimated to witness market growth owing to growth in the production of passenger cars and light commercials. High demand to reduce vehicle stopping range is predicted to accelerate market progress. Increasing orders to ensure the safety of passengers and goods coupled with growing demand for light commercial vehicles and passenger’s cars are estimated to accelerate automotive electronic brake system market growth.

KEY INDUSTRY PLAYERS

"Leading Players Adopt New Strategies to Stay Competitive"

The report covers information about the list of market players and their latest development in the industry. The information includes mergers, partnerships, acquisitions, technological developments, and production lines. Other aspects examined for this market include complete research on companies producing and introducing the latest products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

List of Market Players Profiled

• AutolivInc (Sweden)
• Contenental Ag (Germany)
• Delphi Automotive Plc. (U.S.)
• Denso Corporation (Japan)
• TRW Automotive (U.S.)
• Robert Bosch GMBH (Germany)

REPORT COVERAGE

This research profiles a report with general studies that explain the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.