Electric Brake Booster Market to Reach US$16.8 Billion by 2030 : Fairfield Market Research

The global electric brake booster market is poised for remarkable growth, with market revenue set to soar to US$16.8 billion by 2030, up from US$2.6 billion recorded in 2022. A comprehensive report by Fairfield Market Research highlights the key trends and growth determinants driving this surge.

For More Industry Insights Read: https://www.fairfieldmarketresearch.com/report/electric-brake-booster-market

Key Trends Fueling Market Growth:

1. Electrification and Hybrid Vehicles: With the automotive industry shifting towards electrification, electric brake boosters are gaining prominence due to their effectiveness in providing brake assistance without traditional vacuum systems.
2. Emphasis on Vehicle Safety: Consumers and automakers alike prioritize vehicle safety, driving the demand for advanced braking systems.
3. Dominance of Disc Brakes: In 2022, the disc brake category dominated the market due to their superior heat dissipation and prevention of brake fade.
4. Electric Brake Booster Segment Dominance: Electric brake boosters are expected to dominate the market share globally due to their electronic adjustability based on various factors, including vehicle speed and driver input.
5. Single Diaphragm Boosters: The single diaphragm booster category led the market in 2022, favored for their space efficiency.
6. Commercial Vehicle Application: Electric brake boosters find extensive use in commercial vehicles, providing precise braking control, especially when towing heavy loads.
7. Asia Pacifics Leading Role: The Asia Pacific region, including China and India, is anticipated to hold the largest market share, driven by rapid urbanization, traffic congestion, and safety awareness.
8. North Americas Expansion: The North American market is growing due to the adoption of electric brake boosters in electric vehicles (EVs) to enhance regenerative braking systems.

Key Growth Determinants:

• Regulations and Emission Goals: Stringent regulatory standards for emissions and safety push automakers towards advanced braking systems, making electric brake boosters crucial.
• Modern Sensor Technology: Ongoing advancements in sensor technology enable more precise and dependable brake control, aligning perfectly with electric brake boosters.
• Elimination of Engine Dependent Vacuum: Electric brake boosters operate independently from the engine, making them suitable for hybrid and electric vehicles.

Major Growth Barriers:

• Cost Prohibitions and Accessibility Limitations: The higher cost of electric brake boosters compared to conventional systems can deter price-conscious customers and manufacturers, especially in the economy and mid-range vehicle segments.
• Power Supply Dependency: Electric brake boosters rely on an uninterrupted power source, posing safety risks in case of power outages or interruptions.

Regional Front-runners:

• Asia Pacific: The region is expected to dominate the electric brake booster market due to increasing demand for advanced braking systems in congested urban areas.
• North America: High safety awareness and the growth of electric vehicles are driving the adoption of electric brake boosters in North America.

Competitive Landscape:

The global electric brake booster market is consolidated, with key players like,

• Aisin Seiki Co. Ltd.
• Robert Bosch GmbH
• TRW Automotive
• Hyundai Mobis
• Continental AG
• Mando Corporation
• Hitachi
• Nissin Kogyo
• Jilin Dongguang Aowei Brake System Co. Ltd.
• Zhejiang VIE Science & Technology Co.
• Wanxiang Group Corporation
• BWI Group
• FTE automotive Group
• APG
• Liuzhou Wuling Automobile Industry Co. Ltd
• Wuhu Bethel
• CARDONE

Market Segmentation:

• By Brake Type: Disc Brake, Drum Brake
• By Technology: Electric Brake Booster, Conventional Vacuum Brake Booster
• By Type: Single Diaphragm Booster, Dual Diaphragm Booster, Others
• By Vehicle Type: Commercial Vehicle, Passenger Vehicle
• By Geographic Coverage: North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Global Electric Brake Booster Market Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2030 (By Brake Type Coverage, By Technology Coverage, By Type Coverage, By Vehicle Type Coverage, By Geographic Coverage and By Company): https://www.fairfieldmarketresearch.com/report/electric-brake-booster-market

COMTEX_447097727/2840/2024-01-31T06:22:43