As per MRFR analysis, the Automotive Brake Actuator Market Size was estimated at 12.53 (USD Billion) in 2022. The Automotive Brake Actuator Market Industry is expected to grow from 13.29(USD Billion) in 2023 to 22.6 (USD Billion) by 2032. The Automotive Brake Actuator Market CAGR (growth rate) is expected to be around 6.07% during the forecast period (2024 - 2032).
The Automotive Brake Actuator Market is poised for significant growth in the coming years. Key market drivers include the increasing demand for advanced driver assistance systems (ADAS) and autonomous vehicles, as well as the growing adoption of electric vehicles. Opportunities for growth lie in the development of fail-safe and highly responsive brake actuators that can meet the demanding requirements of these new technologies.
Recent trends include the integration of sensors and other electronic components into brake actuators, as well as the development of new materials and designs to improve performance and efficiency. The market is expected to continue to expand as these trends drive the adoption of more advanced and innovative brake actuators in the automotive industry.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Increasing Demand for Advanced Safety Features
A significant share of the Automotive Brake Actuator Market Industry is driven by the increasing demand for advanced safety features in automobiles. With the growing awareness of the importance of safety among consumers, they require vehicles with modern safety technologies. Brake actuator provides precise and reliable performance, which is vital to ensure the safety of the vehicle. Brake actuators help to regulate the braking force exerted on each wheel, which is important for getting the optimal braking effect and stability.
The demand for brake actuator will continue to be increased by the consistently growing number of automobiles equipped with modern safety features, including anti-lock braking systems, electronic stability control, and adaptive cruise control. Moreover, the interest in vehicles that can drive without a human is rising, so modern, highly reliable, and precise brake systems are required to be applied in brake actuators.
Rising Production of Electric Vehicles
Another factor driving the Automotive Brake Actuator Market Industry is the increasing production of electric vehicles. Electric vehicles require specialized brake actuators as they need to be specifically designed to handle the unique requirements of electric motors. Electric motors provide instant torque, and this can lead to increased wear of the brake and reduced efficiency of the brake. However, brake actuators for electric vehicles can easily overcome this problem as they are designed to provide a precise and controlled performance for braking.
Increasing Focus on Emission Reduction
The rise of the focus on emission reduction also fuels the demand for brake actuators. They help to reduce emissions by boosting fuel efficiency. Through efficient and controlled braking, these brake implementations reduce brake drag. This factor leads to better fuel economy, which results from the application of the brake actuators. The growth of fuel-efficient vehicles contributes to the rising demand for brake actuators that diminish emissions.
The Automotive Brake Actuator Market is segmented by Actuation Type into Hydraulic Brake Actuator and Electric Brake Actuator. The Hydraulic Brake Actuator segment accounted for over 60% of the global market in 2023 and held the largest market share. On the other hand, the Electric Brake Actuator segment is anticipated to witness a faster CAGR during the forecast period due to the increasing adoption of electric vehicles. The Electric Brake Actuator segment is relatively new and emergent. However, it is expected to grow significantly during the next four years.
The Hydraulic Brake Actuator segment is mature and well-established, with numerous suppliers offering a variety of products. The key drivers for the growth of the Electric Brake Actuator segment include the increasing adoption of electric vehicles, rising demand for safety features, and increasing awareness regarding the environment. Moreover, the market is estimated to grow from USD 13.29 billion in 2023 to USD 22.6 billion by 2032. The growth of the market is mainly attributed to the increasing demand for safety features, the elevating adoption of electric vehicles, and the increasing awareness about environmental issues.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
The Automotive Brake Actuator Market is segmented by Application into Passenger Cars, Commercial Vehicles, and Two Wheelers. Passenger Cars hold the largest market share, accounting for around 60% of the Automotive Brake Actuator Market revenue in 2023. The growth of this segment is driven by the increasing production and sales of passenger cars worldwide, particularly in developing countries. Commercial Vehicles are expected to witness a significant growth rate during the forecast period, owing to the rising demand for these vehicles in the logistics and transportation sector.
The increasing adoption of electric and hybrid commercial vehicles is also contributing to the growth of this segment. Two Wheelers are projected to have a steady growth rate in the coming years, driven by the growing popularity of these vehicles in emerging markets. The increasing demand for two-wheelers as a cost-effective and convenient mode of transportation is fueling the growth of this segment.
The Automotive Brake Actuator Market is segmented into vehicle types, including passenger cars, commercial vehicles, and two-wheelers. Among these segments, the passenger car segment is expected to hold the largest market share in 2023, owing to the increasing production and sales of passenger cars worldwide. The commercial vehicle segment is also expected to witness significant growth, driven by the rising demand for commercial vehicles in developing economies. The two-wheeler segment is expected to register a steady growth rate during the forecast period, fueled by the growing popularity of two-wheelers in urban areas.
Within the passenger car segment, the ABS brake actuator is expected to dominate the market, followed by the TCS brake actuator and ESC brake actuator. The ABS brake actuator is a critical component of the anti-lock braking system (ABS), which prevents the wheels from locking during braking, ensuring better control and stability. The TCS brake actuator is part of the traction control system (TCS), which helps prevent the wheels from spinning when accelerating on slippery surfaces. The ESC brake actuator is a component of the electronic stability control (ESC) system, which helps prevent the vehicle from skidding or rolling over during cornering.
The regional segmentation of the Automotive Brake Actuator Market presents distinct market dynamics and growth opportunities. North America, Europe, APAC, South America, and MEA constitute the key regional markets.
In 2023, North America held a significant market share, driven by factors such as the presence of leading automotive manufacturers and stringent safety regulations. The European market is also expected to witness considerable growth due to the increasing adoption of advanced braking systems and government initiatives promoting vehicle safety.
APAC, with its rapidly growing automotive industry and rising disposable income, is projected to emerge as a major growth engine for the Automotive Brake Actuator Market. South America and MEA, though at nascent stages of development, are expected to offer growth opportunities due to the increasing demand for vehicles and the need for enhanced safety features.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Main players in Automotive Brake Actuator Market are consistently working on gaining a competitive edge. They are increasingly investing in research and development strategies to remain ahead of the curve. Furthermore, the leading Automotive Brake Actuator market players are trying to address customer demands through product and service development.
The Automotive Brake Actuator Market Market is highly competitive in nature as several major players are competing for market dominance. Continental AG, Robert Bosch GmbH, ZF Friedrichshafen AG, Nissin Kogyo, Honda Motor Co, Ltd., Denso Corporation, Hyundai Mobis Company, Aisin Seiki Co., Ltd., Robert Bosch Pharma, and Magna International Inc are some of the key players in the Automotive Brake Actuator Market Market. These companies are continuously working on developing new products and services and striking partnership deals in the process.
Continental AG is one of the leading Automotive Brake Actuator Market Market players. The company offers a diverse range of products and services to the automotive industry. Continental AG s product suite includes a diverse array of brake actuators, sensors, and control systems endpoint products. The company has strong relationships with several major automotive manufacturers and supplies them with brake actuators. In addition, Continental AG drives the development of autonomous driving technologies. This strategy ensures that the company is at the forefront of technology by giving it access to cutting-edge technologies. As a result, the company is able to manufacture original equipment products and service its main customers. StreetScooter, a subsidiary of the company, is a key driver behind the development of unique service models in the industry.
The Automotive Brake Actuator Market is projected to reach USD 22.6 billion by 2032, exhibiting a CAGR of 6.07% during the forecast period (2024-2032). Increasing demand for advanced driver assistance systems (ADAS) and autonomous driving technologies, along with growing vehicle production, is driving market growth.
Electrification of vehicles and the adoption of regenerative braking systems are also contributing to market expansion. Key industry participants include Continental AG, Bosch, ZF Friedrichshafen AG, and Nisshinbo Holdings Inc. Recent developments include the launch of new brake actuators with improved performance and safety features, as well as strategic partnerships and acquisitions to strengthen market position.
| Report Attribute/Metric | Details |
| Market Size 2022 | 12.53(USD Billion) |
| Market Size 2023 | 13.29(USD Billion) |
| Market Size 2032 | 22.6(USD Billion) |
| Compound Annual Growth Rate (CAGR) | 6.07% (2024 - 2032) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year | 2023 |
| Market Forecast Period | 2024 - 2032 |
| Historical Data | 2019 - 2023 |
| Market Forecast Units | USD Billion |
| Key Companies Profiled | Continental AG, Hitachi Automotive Systems, Hyundai Mobis, ZF Friedrichshafen AG, Brembo SpA, Mando Corporation, Haldex AB, Bosch Automotive Service Solutions, BorgWarner, KnorrBremse AG, Magna International, TRW Automotive, Akebono Brake Industry Co. Ltd., Nissin Brake Systems, Tokico Brake Systems |
| Segments Covered | Actuation Type, Application, Vehicle Type, Regional |
| Key Market Opportunities | 1 Growing demand for advanced driver assistance systems ADAS2 Increasing production of electric vehicles3 Expansion of the automotive industry in developing economies4 Government regulations promoting vehicle safety5 Technological advancements in braking systems |
| Key Market Dynamics | Rising demand for advanced safety features Increasing vehicle production Growing popularity of electric vehicles Government regulations for vehicle safety Technological advancements. |
| Countries Covered | North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Automotive Brake Actuator Market is expected to reach a valuation of 13.29 Billion USD in 2023.
The Automotive Brake Actuator Market is projected to grow at a CAGR of 6.07% from 2024 to 2032.
The Automotive Brake Actuator Market is expected to reach a valuation of 22.6 Billion USD by 2032.
North America is expected to hold the largest market share in the Automotive Brake Actuator Market.
Key applications of Automotive Brake Actuators include passenger cars, commercial vehicles, and off-highway vehicles.
Key competitors in the Automotive Brake Actuator Market include Continental AG, Robert Bosch GmbH, ZF Friedrichshafen AG, and Mando Corporation.
Major trends driving the growth of the Automotive Brake Actuator Market include the increasing demand for safety features in vehicles, the growing adoption of electric vehicles, and the rising popularity of autonomous driving systems.
Challenges faced by the Automotive Brake Actuator Market include the high cost of raw materials, the complex manufacturing process, and the stringent regulatory requirements.
Opportunities for growth in the Automotive Brake Actuator Market include the development of new technologies, the expansion into new markets, and the increasing demand for aftermarket parts.
Key factors to consider when selecting an Automotive Brake Actuator include performance, reliability, cost, and warranty.
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