Press release
Future of the Brake-By-Wire System Market: Strategic Analysis and Forecast to 2034
Brake-By-Wire System
Brake-By-Wire System Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market size of the brake-by-wire system has witnessed substantial growth in the past few years. Estimations predict an upward trend from $8.77 billion in 2024 to $9.45 billion in 2025, registering a compound annual growth rate (CAGR) of 7.8%. The historic growth of this market is due to several factors such as enhanced safety regulations, escalating demand for electric vehicles, an increase in luxury and high-performance cars, the necessity for weight reduction in cars, and the development of driver assistance systems.
Brake-By-Wire System Market Size Forecast: What's the Projected Valuation by 2029?
The market for brake-by-wire systems is anticipated to experience substantial growth in the coming years, with the expected market size reaching $12.62 billion by 2029, boasting a compound annual growth rate of 7.5%. This projected growth during the forecast period is due to factors such as the increasing popularity of electric and self-driving vehicles, the progression in the field of automotive electronics, an escalated focus on safety and stability control systems, governmental regulations that encourage emission reduction and the growth of connected car technologies. Key trends to look out for during this period include the incorporation into self-driving systems, enhancements in control algorithms guided by software, the increasing adoption of wireless communication technologies, an increased prevalence of regenerative braking features, and developments in sensor technology.
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What Are the Drivers Transforming the Brake-By-Wire System Market?
The surge in electric vehicle (EV) use is set to drive the expansion of the brake-by-wire system market. EVs, which are cars driven by electric motors and powered by batteries or other energy-saving mechanisms, are increasingly in vogue due to rising environmental awareness, developing EV infrastructure and governmental incentives encouraging their use. Brake-by-wire systems contribute to a better driving experience by offering precise, responsive braking through electronic controls, removing the need for hydraulic elements. This reduction of weight and increase in overall efficiency and range is a clear advantage. For instance, the International Energy Agency, an autonomous organization based in France, stated in May 2022 that the total number of Plug-in hybrid electric vehicles and hybrid electric vehicle cars was 95,00,000 and 43,50,000 respectively in 2023, showing a significant increase from 73,00,000 and 29,00,000 in 2022. Hence, as more electric vehicles are being used, the brake-by-wire system market is set to flourish.
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What Long-Term Trends Will Define the Future of the Brake-By-Wire System Market?
Leading corporations in the brake-by-wire system arena are innovating with avant-garde braking mechanisms like electro-mechanical brake systems to elevate vehicle security and augment braking efficiency. The electro-mechanical braking system substitutes conventional hydraulic constituents with mechanical links and electric actuators, utilizing electronic controls for accurate braking that diminishes weight and boosts overall efficiency. For instance, ZF Friedrichshafen AG, a technology firm based in Germany, renowned for supplying state-of-the-art mobility items, introduced the 'dry' brake-by-wire system in November 2023. It guarantees safety by duplicating every connection and system for data transfer, process, and motor power provision. It offers up to 9 meters reduced stopping distances at 100 km/h automatic emergency braking and up to a 17% extra range for electric vehicles due to superior brake energy recovery. Additionally, the dry brake-by-wire system curtails particle emissions from brake abrasion by restraining remaining drag torques and eliminating the necessity to alter brake fluids, thus reducing maintenance needs.
Which Segments in the Brake-By-Wire System Market Offer the Most Profit Potential?
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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Which Firms Dominate the Brake-By-Wire System Market by Market Share and Revenue in 2025?
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
Which Regions Offer the Highest Growth Potential in the Brake-By-Wire System Market?
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.
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