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Key Influencer in the Brake-By-Wire System Market 2025: Electric Vehicle Adoption Drives Growth In The Brake-by-Wire System Market Driver
Brake-By-Wire System Market Size
In recent times, there's been noticeable growth in the market size of the brake-by-wire system, and it's projected to amplify from $8.77 billion in 2024 to $9.45 billion in 2025 with a compound annual growth rate (CAGR) of 7.8%. This growth in the previous period is a result of escalating safety regulations, an increased demand for electric vehicles, expansion in luxury and high-performance car sector, a pressing need for vehicular weight reduction, and advancements in driver assistance systems.
In the coming years, the market size of the brake-by-wire system is anticipated to experience substantial growth, projected to reach $12.62 billion by 2029, with a CAGR of 7.5%. Factors contributing to this growth during the forecasted period include the growing popularity of electric and autonomous vehicles, developments in car electronics, heightened concentration on stability and safety systems, governmental policies encouraging emission reductions, and the broadening of connected car technologies. The forecasted period is also likely to witness several trends such as the collaboration with autonomous driving systems, progress in software-centric control algorithms, the application of wireless communication technologies, the rising demand for regenerative braking features, and enhancements in sensor technologies.
What Are the Primary Growth Drivers for the Brake-By-Wire System Market?
The rise in use of electric vehicles is projected to stimulate the expansion of the market for brake-by-wire systems. Electric automobiles, powered by electric motors and dependent on batteries or other energy storage technologic devices, are increasingly popular due to escalating ecological concerns, the development of EV infrastructure, and governmental incentives promoting their use. Brake-by-wire systems, which utilize electronic controls for accurate and reactive braking, enhance vehicle management and stability by eliminating hydraulic parts; furthermore, they lighten the vehicle and boost overall efficiency and range. For example, the International Energy Agency, an autonomous intergovernmental organization based in France, reported in May 2022 that the total number of Plug-in hybrid electric vehicles and hybrid electric vehicle cars reached 95,00,000 and 43,50,000 respectively in 2023, jumping from 73,00,000 and 29,00,000 respectively in 2022. Therefore, the escalating popularity of electric vehicles is fuelling the growth of the brake-by-wire system market.
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Which Businesses Are at the Forefront of Brake-By-Wire System Market Development?
Major companies operating in the brake-by-wire system market are Robert Bosch GmbH, Nissan Motor Co. Ltd., ZF Friedrichshafen AG, Continental AG, Hyundai Mobis Co. Ltd., Schaeffler Technologies AG & Co. KG, Microelectronics N.V., Parker Hannifin Corporation, Infineon Technologies AG, NXP Semiconductors N.V., Knorr Bremse AG, HELLA GmbH & Co. KGaA, Mando Corp., Brembo N.V., Akebono Brake Industry Co. Ltd., BWI Group, Haldex AB, KSR International Inc., Delphi Technologies Plc, FUTEK Advanced Sensor Technology Inc., Chassis Autonomy SBA AB
What Are the Latest Innovations in the Brake-By-Wire System Market?
In the brake-by-wire system market, leading firms are innovating to introduce advanced braking mechanisms like electro-mechanical brake systems. This is to augment vehicle safety and boost braking efficiency. The electro-mechanical brake system is a replacement for conventional hydraulic components, embracing mechanical linkages and electric actuators. It employs electronic controls to deliver precision braking which minimizes weight and augments general efficiency. For example, ZF Friedrichshafen AG, a technology company based in Germany and specializing in sophisticated mobility products, rolled out the 'dry' brake-by-wire system in November 2023. It guarantees safety through the redundancy of data transmission, processing and motor power supply systems and connections. By enabling superior brake energy recuperation, it can deliver up to 9 meters decreased stopping distances at 100 km/h during automatic emergency braking, and up to an additional 17% range for electric vehicles. The dry brake-by-wire system also reduces particle emissions resulting from brake abrasion by curbing residual drag torques and by eliminating the need to alter brake fluids, thus reducing maintenance demands.
How Is the Brake-By-Wire System Market Segmented?
The brake-by-wire system market covered in this report is segmented -
1) By Type: Hydraulic Or Wet Type, Electronic Or Dry Type
2) By Sales Channel: Original Equipment Manufacturers (OEMs), Aftermarket
3) By Application: Passenger Vehicles, Commercial Vehicles
Subsegments
1) By Hydraulic Or Wet Type: Electro-Hydraulic Brake (Ehb) Systems, Hydraulic Actuators And Modules
2) By Electronic Or Dry Type: Electro-Mechanical Brake (Emb) Systems, Electronic Actuators, Brake-By-Wire Control Modules
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Where Is the Brake-By-Wire System Market Growth Most Prominent?
North America was the largest region in the brake-by-wire system market in 2023. The regions covered in the brake-by-wire system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Brake-By-Wire System Global Market Report?
- Market Size Analysis: Analyze the Brake-By-Wire System Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Brake-By-Wire System Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Brake-By-Wire System Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Brake-By-Wire System Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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