Automotive Electronic Brake System Market Analysis

Automotive Electronic Brake System Market Overview

The Global Automotive Electronic Brake System Market size is projected to be worth USD 41,930.2 million by 2030, registering a CAGR of 6.4% during the forecast period (2022–2030). An automotive electronic brake system enables the driving and overall braking operation through the electronic control unit. 

An automotive electronic brakes system comprises of components such as sensors, control units, actuators and others which delivers efficient braking mechanism. With its ability to provide efficient brake management coupled with high-end automation, the automotive electronic brake system is gaining significant traction among OEM and aftermarket brand owners. The future growth outlook for the automotive electronic brake system market seems astonishing as the demand for high-end safety vehicles is all time high across the continents.

Automotive Electronic Brake System Market Dynamics

Drivers

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  Transition to EV mobility and an increasing number of road accidents

  
  


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  Growing demand for automotive electronic brake systems in the aftermarket

  
  

Considering the focus on increasing the lifespan of vehicles, automotive electronic brake system manufacturers have been expanding their aftermarket activities to capitalize on the high demand for automotive electronic brake system components. The increase in average vehicle age has created opportunities for automotive electronic brake system manufacturers to venture into the aftermarket business, especially for old vehicles, to meet industry standards about vehicle safety. The loyalty toward authorized repair shops is the highest among new-vehicle owners and customers owing to strict regulations that need to install electronic brake systems in their vehicles. Reliability, quality, and warranty are factors that encourage many vehicle owners to choose authorized repair shops to replace automotive electronic braking system components. However, the owners of used and old vehicles choose to avail the products and services of key aftermarket players. 

There have been certain developments in the aftermarket automotive electronic brake system services. Certain manufacturers are taking up important positions within the aftermarket supply chain. They have been capitalizing on the current market trends by introducing second service formats or remanufactured electronic brake components to compete with independent automotive electronic brake system manufacturers to retain their customers. Thus, the number of independent aftermarket service providers would increase the number of R&D activities and raise the production of efficient and durable automotive electronic brake system. This will boost the aftermarket Industry services and enhance the global automotive electronic brake system market in the forecast period.

Restraints

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  High development cost of electronic brake system and decrease in automotive production due to severe pandemic spread across the world

  
  

An automotive electronic brake system is generally more expensive than a normal one, mainly because electronic brake components are expensive. The component and technology play a critical role in automotive electronic brake system manufacturing. The components such as sensors, actuators, control units, and others are one of the costliest parts of the overall cost of the automotive electronic brake system. Also, the quality of components directly affects the performance of the automotive electronic brake system. 

Moreover, the technology used in an automotive electronic brake system is expensive because the electronic brake needs to hold massive amounts of pressure to make the vehicle practical for automotive drivers. With the continuous spread of the novel coronavirus worldwide, automotive electronic brake system manufacturer is taking extreme measures in the form of plant closures to halt the spread of the COVID-19 outbreak. The situation remains uncertain as more global companies suspend work and the major automotive electronic brake system players extend shutdown periods. Therefore, increasing the cost of electronic brake systems and slow automotive production due to severe the pandemic spread will hamper the growth of the global automotive electronic brake system market in the forecast period.

Opportunities

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  Augmented sales of luxury vehicles and growing demand for lightweight products

  
  

The increasing living standards and per capita income of people worldwide have raised the demand for luxury vehicles. In addition, the top players in the market are focusing on providing comfort to drivers and passengers, enhancing the production of luxury vehicles globally. The manufacturers of automotive luxury vehicles are working on providing safety systems to allow the passengers more comfort and a safer drive. Additionally, the demand for electric vehicles has also increased due to rising concerns about environmental pollution, and this factor is expected to stimulate the global automotive electronic brake system market. In line with this, the electronic brake system is an innovative technology that helps to achieve the target of weight reduction in the vehicle. 

This system eliminates mechanical linkages between systems and replaces them with sensors, control units, and actuators to reduce weight. Furthermore, in the automotive industry, driver comfort and safety are important parameters for original equipment manufacturers to reduce the kerb weight without affecting the vehicle's performance. Major players operating in the automotive industry are incorporating electronic brake systems to reduce the vehicle's overall weight. Thus, the increasing demand for luxury vehicles and the growing trend for the lightweight component is expected to create an opportunity for the global automotive electronic brake system market.

Automotive Electronic Brake System Market Supply Chain Analysis

The dimensions, technology, working conditions, vehicle type, and applications are analyzed in the R&D stage to effectively design and develop the automotive electronic brake system. In research stage, the design, components, material type, size, and shape of the electronic brake system are determined according to the application of the product, design standards, and the specific vehicle requirements. In this stage, the automotive braking system market manufacturers procure the necessary component from the suppliers. The various component required for manufacturing automotive electronic brake systems are sensors, actuators, control units, and others. These components are selected based on the friction resistance, corrosion resistance, strength of the material, and end-use application of the automotive electronic brake system.

After the component procurement, manufacturers assemble the electronic brake system using the manufactured components according to the vehicle's dynamic requirements. Once the manufacturing stage is completed, the finished electronic brake system undergoes certain quality checks to ensure that they comply with the required performance standards, efficiency, and precision in critical work conditions. After the manufacturing process is completed, the finished products are sent to various distributors and suppliers, such as independent dealers, company dealers, and retailers who work as a channel to provide the final automotive electronic brake system to various aftermarket suppliers and individuals. The end users of the automotive electronic brake system are the automotive OEMs and aftermarket buyers. The automotive OEM companies generally purchase the electronic brake system directly from the manufacturers. The aftermarket buyers purchase the automotive electronic brake system from authorized dealers.

Electronic Brake System Market Segmentation

Based on components:

Sensors, actuators, control units and others are the segments based on the components of the Global Automotive Electronic Brake System Market.  The control units segment is expected to have the highest CAGR and dominate the market share during the forecast period. Control unit is the key element in the automotive electronic brake system. Control unit in an automotive electronic brake system consists of a computerized machine to ensure the highest possible safety to the vehicle.

Based on technology:

Brake assistance, autonomous emergency braking, electronic stability control, anti-lock braking system are the segments based on the technology of the Global Automotive Electronic Brake System Market.  The electronic stability control segment is expected to have the highest CAGR and dominate the market share during the forecast period. Electronic stability control systems help the driver maintain control of the vehicle in challenging driving situations by automatically computer-controlled braking of individual wheels.

Based on sales channel:

OEM and aftermarket are the segments based on the sales channel of the Global Automotive Electronic Brake System Market.  The OEM segment is expected to have the highest CAGR and dominate the market share during the forecast period. OEMs procure and install automotive parts and components while assembling the automobile. Major automotive component manufacturers invest in R&D to offer advanced components and modules and upgrade existing technologies for automotive

Based on vehicle type:

Passenger car, light commercial vehicle, and heavy commercial vehicle are the segments based on the sales channel of the Global Automotive Electronic Brake System Market.  The passenger car segment is expected to have the highest CAGR and dominate the market share during the forecast period. Passenger cars are motor vehicles with at least four wheels, used to transport passengers, with no more than eight seats, including the driver's seat. The continuous increase in demand for passenger vehicles has led international automobile manufacturers to increase their production capacities.

Automotive Electronic Brake System Market Regional Analysis

The regions are classified as North America, Europe, Asia-Pacific, Middle East & Africa, and South America. Asia-Pacific holds a significant share of the market. The continuous demand for advanced braking systems and succeeding vehicle production are driving the automotive electronic brake system market in the Asia-Pacific region. Additionally, the increasing governmental mandates for improving vehicle safety have strongly contributed to the Asia-Pacific automotive electronic brake system demand. Asia-Pacific is expected to witness the highest growth because manufacturers in this region offer high-cost reductions, owing to the availability of low-cost labor and raw materials. 

Furthermore, the region comprises countries such as India, Japan, China, and others which account for a decent part of the total vehicle production globally. Furthermore, the automotive electronic brake system market in China is expected to grow significantly in the coming years due to regulatory requirements in driving and increased vehicle safety. The increasing road safety regulation and the partnership between major companies are expected to fuel the automotive electronic brake system market growth.

North America remains a long-term growth market for the automotive electronic brake system market, particularly in the US, due to its expected volume of truck and bus production and the increasing adoption of vehicle safety and efficiency technologies. The North American automotive electronic brake system market has increased because of several factors, such as its large and aging light vehicle park and the higher average number of miles traveled per light vehicle. The legislative regulation and reforms play a key role in driving the automotive electronic brake system market. Furthermore, the continued development of advanced safety technologies for light commercial vehicles and heavy commercial vehicles to keep the driver safe from accidents will help stimulate the growth of the automotive electronic brake system market in North America.

Automotive Electronic Brake System Market Competitive Landscape

The global automotive electronic brake system market is characterized by the presence of many regional and local vendors. The regional market is highly competitive, with all the players competing to gain a larger market share. The vendors compete based on cost, product quality, reliability, and aftermarket services. Therefore, vendors must provide cost-effective and efficient products to survive and succeed in a competitive market environment.

List of Key Companies covered in the report:

• Advics (OH)


• Küster (Germany)


• Continental AG (Germany)


• Haldex (Sweden)


• Knorr Bremse AG (Germany)


• Robert Bosch GmbH (Germany)


• ZF Friedrichshafen AG (Germany)


• Halla Mando (South Korea)


• Akebono Brake Industry Co., Ltd (Japan)


• Brembo (Italy)

Recent Development:

• In June 2022, Continental develops intelligent solutions for automated driving. This Intelligent solution is used in the automotive sector.


• In March 2022, Haldex signed a long-term agreement with KRONE Commercial Vehicle Group, a leading trailer manufacturer, to supply the fourth generation Electronic Brake System (EBS) platform for trailers.


• In February 2022, Advics launched a line of ultra-premium brake fluids. It includes DOT 3 and DOT 4 LV formulations for disc, drum, and ABS systems Both formulations are ultra-premium synthetics made in the US.


• In February 2022, Robert Bosch GmbH has set up a new business unit to commercialize quantum sensors. To share in the strong growth expected for this market, an in-house startup will pool the research results so far and translate them into products.


• In January 2022, Knorr-Bremse brought the last of a total of nine new machining centers for producing brake discs for train braking systems onstream at its Berlin plant.

Automotive Electronic Brake System Market Report Overview:

The Global Automotive Electronic Brake System Market is segmented based on components, technology, sales channel, and vehicle type in this report. The report is focused on various analytical aspects such as market dynamics, Supply chain analysis, Porter’s five forces, competitive landscape, recent developments, and company profiles. The insights in this report, comprise, discuss views, and predict the emerging and fast-growing segments, regions, and countries with potential for development in the Global Automotive Electronic Brake System Market.

Segmentation Overview:

By components:

• Sensors


• Actuators


• Control units


• Others

By technology:

• Brake assistance


• Autonomous emergency braking


• Electronic stability control


• Anti-lock braking system

By sales channel:

• OEM


• Aftermarket

By vehicle type:

• Passenger car


• Light Commercial Vehicle


• Heavy Commercial Vehicle

By Regions:

• North America


• Europe


• Asia-Pacific


• Middle East & Africa


• South America