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Pharmacy benefit management market
Electric Hydraulic Brake Market REPORT OVERVIEW
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The global electric hydraulic brake market size was 2743.13 million in 2022. As per our research, the market is expected to reach USD 9775.67 million by 2028, exhibiting a CAGR of 23.59% during the forecast period. The COVID-19 pandemic has been unprecedented and staggering, with electric hydraulic brake experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.
An electric hydraulic brake, also known as an electro-hydraulic brake or EHB, is a braking system used in modern vehicles that combines hydraulic and electric components. It operates by using a hydraulic system, which includes a master cylinder and brake lines, alongside an electric pump and electronic control unit (ECU). The ECU monitors various parameters, enabling precise control of braking force for each wheel, enhancing safety, and optimizing energy recovery through regenerative braking.
This technology offers improved braking performance, stability, and efficiency, making it a key feature in electric and hybrid vehicles while reducing maintenance requirements compared to traditional hydraulic systems. It can also allow for customizable brake pedal feel, enhancing the overall driving experience. Electric hydraulic brakes offer benefits such as advanced safety features, energy-efficient regenerative braking, reduced maintenance, and improved control under various driving conditions. The technology's implementation may vary among manufacturers and vehicle models, but it continues to evolve to provide better performance and reliability in modern vehicles.
COVID-19 IMPACT: Shift Toward Electric Vehicles to Boost Demand Significantly
COVID-19 had a life changing impact globally. The electric hydraulic brake market growth was significantly affected. The virus had various impacts on different markets. Lockdowns were imposed in several nations. This erratic pandemic caused disruptions on all sorts of businesses. Restrictions tightened during the pandemic due to increasing number of cases. Numerous Industries were affected. However, the market for electric hydraulic brake share experienced an increased demand.
Many automotive manufacturers temporarily halted or reduced production during the pandemic due to lockdowns, reduced demand, and workforce limitations. This slowdown in vehicle production likely affected the integration of electric hydraulic brake systems into new vehicles. The pandemic disrupted global supply chains, affecting the availability of critical components and materials required for manufacturing electric hydraulic brake systems. Delays in the supply chain could have resulted in production bottlenecks and potential shortages of these systems, affecting vehicle production.
The pandemic accelerated the interest in electric vehicles (EVs) as consumers and governments sought cleaner and more sustainable transportation options. Electric hydraulic brake systems are a key component in EVs, and increased demand for these vehicles may have led to advancements and improvements in this technology. The pandemic increased the focus on vehicle safety and automation features as consumers sought contactless or touchless solutions. Electric hydraulic brake systems, with their advanced electronic control units and safety features, may have gained greater attention as part of broader efforts to enhance vehicle safety and reduce the need for human intervention in emergency situations. The market is anticipated to boost the electric hydraulic brake market following the pandemic.
LATEST TRENDS
"Regenerative Braking Advancements to Broaden Market Growth"
Regenerative braking systems have been a significant focus in the electric vehicle (EV) industry. The latest developments may involve improving the efficiency of energy recovery during braking, optimizing the transition between regenerative and friction braking, and increasing the overall energy efficiency of the system. Brake-by-wire systems, where there is no direct mechanical link between the brake pedal and the brakes, have been gaining traction. These systems offer customizable brake pedal feel and can facilitate advanced driver-assistance features like adaptive regenerative braking and autonomous emergency braking.
Electric hydraulic brake systems have been integrated with ADAS to enhance safety and automation. This includes features like collision avoidance, adaptive cruise control, and automatic emergency braking, where precise control of the braking system is crucial. With the increasing connectivity of vehicles, ensuring the cybersecurity of critical systems like electric hydraulic brakes has become a concern. The latest developments may include robust cybersecurity measures to protect against potential cyberattacks. These latest developments are anticipated to boost the electric hydraulic brake market share.
SEGMENTATION
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By Type
Based on type, the market is divided into One-box and Two-box.
One-box holds a major share of the global market.
By Application
Based on application, the market is bifurcated into Fuel Vehicle and Electric Vehicle.
Fuel Vehicle as application holds a major share of the global market.
DRIVING FACTORS
"Electric and Hybrid Vehicle Growth to Boost Market Share"
The rapid growth of electric and hybrid vehicles has been a significant driver. These vehicles require advanced braking systems that can seamlessly integrate with regenerative braking, optimizing energy recovery and overall braking performance. Electric hydraulic brakes are well-suited for this purpose. Brake-by-wire technology, often employed in electric hydraulic brake systems, allows for customizable brake pedal feel. This feature caters to different driver preferences and enhances the overall driving experience. These factors are anticipated to drive the market.
"Autonomous Driving to Boost Market Growth"
The development of autonomous driving technology relies on highly sophisticated braking systems. Electric hydraulic brakes, integrated with advanced driver assistance systems (ADAS), play a crucial role in achieving safe and efficient autonomous vehicle operation. Electric hydraulic brake systems offer advanced safety features and electronic control. These systems can provide precise control over braking force for each wheel, which enhances vehicle stability, reduces the risk of skidding, and enables features like Electronic Stability Control (ESC) and Anti-lock Braking Systems (ABS). These factors are anticipated to drive the electric hydraulic brake market.
RESTRAINING FACTORS
"Integration Complexity to Hamper Market Share"
Integrating electric hydraulic brake systems into vehicles can be complex. Manufacturers need to ensure seamless integration with other vehicle systems, including advanced driver assistance systems (ADAS) and electronic stability control (ESC), which can add to development time and cost. Many consumers are accustomed to traditional hydraulic brake systems, and there may be resistance to adopting newer technologies, particularly if they are perceived as less reliable or unfamiliar. Trust and familiarity can be significant factors influencing consumer choices. The factors are anticipated to hinder the growth of the market.
REGIONAL INSIGHTS
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"North America to Dominate the Market due to Adoption of Advanced Technology"
North America is the major shareholder for the market size. The region is home to some of the world's largest automotive manufacturers, including General Motors, Ford, and Chrysler (FCA). These manufacturers have played a significant role in the development and adoption of advanced braking systems. Additionally, North America has a strong market for electric and hybrid vehicles, driving the demand for electric hydraulic brake technology.
KEY INDUSTRY PLAYERS
"Key Players Focus on Partnerships to Gain a Competitive Advantage "
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.
List of Market Players Profiled
- Beru Tire and Life Systems [Germany]
- ZF Friedrichshafen AG [Germany]
- Continental AG [Germany]
- Bosch [Germany]
- Nashwan Automotive Electronics [Saudi Arabia]
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.
REPORT COVERAGE | DETAILS |
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Market Size Value In |
US$ 2743.13 Million in 2022 |
Market Size Value By |
US$ 9775.67 Million by 2028 |
Growth Rate |
CAGR of 23.59% from 2022 to 2028 |
Forecast Period |
2022-2028 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the electric hydraulic brake market expected to touch by 2028?
The electric hydraulic brake market is expected to reach USD 9.77 billion by 2028.
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What CAGR is the electric hydraulic brake market expected to exhibit by 2028?
The electric hydraulic brake market is expected to exhibit a CAGR of 23.59% by 2028.
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Which are the driving factors of the Electric Hydraulic Brake market?
Electric and Hybrid Vehicle Growth and Autonomous Driving are drivers of this Electric Hydraulic Brake market.
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Which are the top companies operating in the Electric Hydraulic Brake market?
Beru Tire and Life Systems, ZF Friedrichshafen AG, Continental AG, Bosch, and Nashwan Automotive Electronics are key companies operating in the Electric Hydraulic Brake market.