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Automotive Brake Booster Market 2023 | Worth 191.6 Million Units by 2028 | Growth Rate (CAGR) of 7.5% | IMARC Group

12-12-2022 06:13 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: IMARC Group

Automotive Brake Booster Market

Automotive Brake Booster Market

The latest report by IMARC Group, titled "Automotive Brake Booster Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", offers a comprehensive analysis of the industry, which comprises insights on the global automotive brake booster market. The report also includes competitor and regional analysis, and contemporary advancements in the market.

The global automotive brake booster market size reached 123.4 Million Units in 2022. Looking forward, IMARC Group expects the market to reach 191.6 Million Units by 2028, exhibiting a growth rate (CAGR) of 7.5% during 2023-2028.

An automotive brake booster refers to a black round-shaped canister that is mainly integrated at the back of the engine compartment. It is an essential safety component that assists in the smooth actuation of the brake while minimizing the amount of pedal pressure required for braking. It is generally positioned on the firewall of an engine's compartment, in front of the driver's legs, or under the car's hood that acts as a preventive braking measure that aids in creating an effective braking mechanism, averting the chances of brake failure in the cases of panic braking. Some of the commonly used automotive brake boosters installed in modern vehicles include hydraulic and vacuum boosters.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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Global Automotive Brake Booster Market Trends:

Significant growth in the automotive industry majorly drives the global market. This can be supported by the rising manufacturing of automobiles due to their increasing demand is influencing the adoption of automotive brake boosters. Along with this, the growing consumer demand for advanced vehicle safety technologies, such as traction control systems (TCS), electronic stability programs (ESP), regenerative braking, and anti-lock braking system (ABS), is encouraging manufacturers to integrate them in automobiles with high-end brake booster systems, which, in turn, is supporting the market.

Moreover, numerous leading players are replacing mechanical and hydraulic braking systems with brake boosters to decrease the overall weight of the car and offer additional safety and comfort to the occupants is creating a positive market outlook. Some other factors driving the market include continual technological advancements in braking systems and extensive research and development (R&D) activities.

Explore the Full Report with TOC & List of Figures:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market.

Some of these key players include:

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

Key Market Segmentation:

Breakup by Product:

• Single Diaphragm Booster
• Dual Diaphragm Booster
• Others

Breakup by Vehicle Type:

• Passenger Cars
• Commercial Vehicles

Breakup by End-User:

• OEMs
• Replacement

Breakup by Region:

• North America (United States, Canada)
• Asia Pacific (Germany, France, United Kingdom, Italy, Spain, Others)
• Europe (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the Report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• COVID-19 Impact on the Market
• Porter's Five Forces Analysis
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape

TOC for the Report:

• Preface
• Scope and Methodology
• Executive Summary
• Introduction
• Global Market
• SWOT Analysis
• Value Chain Analysis
• Price Analysis
• Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

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