Automotive Electronic Braking System (EBS) Market Size, Share, Growth, and Global Industry Analysis, By Type (Disc Brake and Drum Brake), By Application (Truck and Bus), Regional Insights, and Forecast To 2031

Updated On: 01 April 2024

AUTOMOTIVE ELECTRONIC BRAKING SYSTEM (EBS) MARKET REPORT OVERVIEW

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The global automotive electronic braking system (EBS) market size is expected to be USD 748.1 million in 2022 and is projected to touch USD 3152.32 million by 2031, exhibiting a CAGR of 15.5% during the forecast period.

Automotive electronic braking system (EBS) is used for braking operations and optimization of commercial vehicles. EBS reduces the buildup time and response of brake cylinder. This reduces the braking distance by few meters. This is because system is predictive with pre-programmed sensors that prevents bad situations from happening. Automobiles at high speed requires It slows down the engine’s speed. It operates through an electronic control signal from brake pedal sensor. EBS communicates with various components such as valves modulators, signal transmitter, and other components.    

Escalating production of automobiles and need to have a proper and safe braking system is expected to increase the market growth. Strict rules and regulations regarding safety of the driver and all the passengers is anticipated to drive market growth. Growing demand for advanced safety systems in automobiles is anticipated to facilitate market share. High penetration of EBS in the automobile industry of the developed economies is predicted to fuel market growth. EBS is preferred due to its enhanced benefits over traditional braking systems. Various governments globally have been investing in safety of the automobiles is expected to drive the market for braking systems.

COVID-19 Impact: Decline in the Production of Automobiles to Obstruct Market Growth

The global COVID-19 pandemic has been unprecedented and staggering, with automotive electronic braking system (EBS) experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The rise in CAGR is a byproduct of the automotive electronic braking system (EBS) market growth and demand returning to pre-pandemic levels once the pandemic is over.

The effects of the COVID-19 pandemic are already being felt on a global level, the automotive electronic braking system (EBS) market was considerably influenced. The outbreak of COVID-19 had a negative impact on several markets. Various countries went into lockdown. With sudden pandemic, all kinds of businesses observed disruptions. During the pandemic there was a decline in the production activities in the automotive industry due to shortage of raw materials and shortage of labor. Shutdown of factories led to disruptions in manufacturing activities due to social distancing norms. This reduced the demand for automotive electronic braking system (EBS) which affected the market growth of the product. Limited workforce restricted the supply at production sites.  

Recovery of the market demand is attributed to gradual investments in braking systems in the automotive industry.  

LATEST TRENDS

"Development of New Patterns in Floor Boards to Induce Innovation"

The global automotive electronic braking system (EBS) market growth is estimated to increase due to the adoption of new technologies. Introduction of various new and innovative technologies for braking systems is expected to gradually create more market growth. Technologies such as anti-locking braking system, adaptive cruise control, electronic stability control, traction control, and differential slip control. electronic stability control is expected to be one of the most popular technologies that is being adopted. This is due to high penetration of automotive industry in various countries such as Japan, U.S., China, and other various countries. Such introduction of various new and innovative technologies is estimated to produce profitable prospects for market growth during the forecast period.

AUTOMOTIVE ELECTRONIC BRAKING SYSTEM (EBS) MARKET SEGMENTATION

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• By Type

Based on type; the market is divided into disc brake and drum brake.

Disc brake are expected to be the leading part of the type segment.  

• By Application

Based on application; the market is divided into truck and bus.

DRIVING FACTORS

"Increase in Government Norms to Amplify Product Demand "

Rise in the government rules and regulations regarding strict safety is projected to led growth for advanced and automated braking systems which is expected to drive market growth. Governments of various countries have made rules and regulations to prevent road accidents by making installation of safety systems mandatory. There has been increasing number of investments in R&D activities regarding the safety of the automobiles and passengers. Therefore, increase in the safety rules and regulations made by various governments globally is expected to facilitate market growth. Government protocols for vehicle safety has propelled the adoption of EBS systems. Increasing demand from the urban areas for automobiles is anticipated to drive automotive electronic braking system (EBS) market growth.

"Progressive Demand for Better Safety to Boost Market Development"

Progressive demand to have a better safety is expected to improve the adoption of advanced braking systems. There has been steady rise in the number of accidents over the years due to lack of proper safety systems and installations. Automobile manufacturers have been getting safety ratings from organizations that deal with automotive safety. Thus, automobile manufacturers have been putting their focus on road safety and producing such features that can ensure safety. Need to have such better safety is expected to increase the demand for automotive electronic braking system (EBS).

RESTRAINING FACTORS

"High Maintenance and Repair Costs to Hamper Market Growth"

There are a number of factors that can propel the growth of the automotive electronic braking system (EBS) market. High costs of repair, development, installation, and maintenance of the advanced braking and electronic systems can hinder market growth. The braking systems require intensive capital investments which can affect the sales of EBS. Such high costs are expected to decrease market growth and act as restraints.

AUTOMOTIVE ELECTRONIC BRAKING SYSTEM (EBS) MARKET REGIONAL INSIGHTS

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"Asia Pacific to Lead the Market Share Due to Growth in Construction Industry "

Asia Pacific to have a dominating part in the global automotive electronic braking system (EBS) market share owing to increasing penetration of EBS. Increasing penetration of EBS in countries such as China and India is expected to increase the market share for the region. Increasing production of automobiles and growth in the automotive industry is expected to propel growth for market. Adoption of various technologies such as anti-locking braking system and electronic stability control in the region is expected to drive the market share. Automotive manufacturers in the region are integrating various safety measures in their automobiles which is expected to boost the region’s growth during the forecast period.

KEY INDUSTRY PLAYERS

"Market Players to Boost Market Growth"

The report delivers information about the list of market players and their operations in the industry. The information is collected and reported with proper research, technological developments, acquisitions, mergers, expanding production lines, and partnerships. Other aspects examined for this market include companies producing and introducing new 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

• WABCO (France)
• Knorr Bremse Group (Germany)
• Haldex (Sweden)
• KORMEE (China)
• VIE

REPORT COVERAGE

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