Press release
Automotive Electronic Braking System Market to Develop Rapidly by 2026
Everyday advancement in automobile technology and evolving aerodynamic design has enabled us to utilize engine power efficiently and has helped us achieve greater speeds. Automobile at high speed initiates demand for efficient vehicle stability. Brakes are therefore crucial to control vehicle motion and ensure the safety of goods and passengers. Electronic Braking System (EBS) was introduced for enhanced brake stability and for the reduction in stopping distance. EBS system communicates with other components such as signal transmitter, valves modulators and other components electronically to actuate brakes on the driver’s request. EBS is primarily preferred over other braking systems due to enhanced benefits of simultaneous operation of Antilock braking system (ABS), load sensing system, Anti-Slip Reduction (ASR), and others.
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Market Dynamics
Automotive electronic braking system market is progressing towards a strong growth owing to multiple benefits over the conventional systems such as reduction in number of brake system component, predictive braking controls, lower maintenance and enhanced diagnostic of the complete system. The escalating demand for passenger cars and light commercial vehicles is chiefly driving the sales of automotive electronic braking systems. With onset of electric vehicles and hybrid vehicles in emerging markets, demand for efficient braking systems that aid in overall reduction of vehicle weight and improving vehicle efficiency is high. Therefore, the demand for automotive electronic braking systems is anticipated to escalate significantly. However, due to capital intensive nature of equipment, the sales of the automotive electronic braking system technology is restricted.
Market Segmentation
The automotive electronic braking system market can be segmented on the basis of vehicle type, sales channel, and product type. On the basis of vehicle type the automotive electronic braking system market can be segmented as: Passenger Cars, Light commercial vehicles, Heavy Commercial vehicles. On the basis of sales channel the automotive electronic braking system market can be segmented as: OEM, Aftermarket. On the basis of product type the automotive electronic braking system market can also be segment as: Electronic Stability Control, Adaptive Cruise Control, Anti-lock Braking System, Differential Slip Control, Traction Control System.
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Regional Outlook
The market can also be segmented on the basis of region including North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan, and Middle East & Africa. The recovering light commercial vehicle sales and passenger cars in North America is propelling the sales of electronic braking system in the region. Likewise owing to emerging automobile industry in Mexico the demand for electronic braking system is increasing steadily. The modest growth in the production and demand for electric and hybrid vehicles in Western Europe is driving the sales of electronic braking systems in the region. The contribution of Asia Pacific market to the global automotive electronic braking system is highest in terms of both production and demand.
India and China are major automotive braking system markets in the region therefore are expected to register double digit growth during the forecast period. The thriving automotive industry of Asia Pacific is expected to create significant opportunities for international and regional players. The evolving electric car market scenario in Japan is expected to create a sustainable demand for automotive electronic braking system and is expected to significantly contribute to the global market. OEM and aftermarket demand for automotive electronic braking systems in GCC Countries in Middle East and Africa is expected to boost the market in the region.
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Key Players
Some of the key players identified in the automotive electronic braking systems market are Robert Bosch GmbH, Knorr Bremse AG, Haldex, ZF TRW, Continental AG, and Advics Group among others.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types, technology and applications.
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