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Automotive Electronic Braking System Market: Global Drivers, Restraints, Opportunities, Trends & Forecast to 2026
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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.
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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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.
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