Automotive Electronic Brake System Market
Overview
Automotive Electronic Brake System Market is
expected to be valued at USD 41,930.2 million with a CAGR of 6.4% Forecast by
2030
Global automotive electronic brake system market size is projected to witness growth at a significant
CAGR of around 6.4% between the forecast period of 2022 and 2030. Technological
advancements and growing support from the government in nations like India and
China are cited as the prime reasons behind the growth of the automotive
electronic brake system market. At the same time, growing awareness among
consumers regarding road safety is also one of the major reasons behind the
growth of the market.
The ability of automotive electronic braking systems
to enhance vehicle safety is one of the prime reasons behind growing demand. At
the same time, these systems also do require minimal maintenance. Moreover, introduction
of advanced electronic braking systems is also a prime reason behind promising
prospects.
To be specific, growing popularity of high-end
technicalities like Traction Control System or TCS and ABS systems also does make
the prospects of global automotive electronic brake system market significant
in forecast period.
Get a sample report of Automotive Electronic Brake
System Market
Automotive Electronic Brake System
Market Key Players
·
Advics Group
(US)
·
Autoliv Inc.
(Sweden)
·
Continental AG
(Germany)
·
Delphi
Automotive Plc (US)
·
Denso
Corporation (Japan)
·
Haldex AB
(Sweden)
·
Knorr Bremse AG
(Germany)
·
Robert Bosch
GMBH (Germany)
·
Wabco Holdings
Inc. (US)
·
ZF TRW
Automotive (US)
Advent of electronic braking system in automobile
segment has transformed the market scenario immensely, making the market
prospects promising. Massive demand from safety facilitators like ABS is also
one of the prime reasons behind the growth of electronic braking system market.
Growing demand and massive production in automotive
industry are also among the reasons behind the growth of global automotive
electronic braking systems market. Growing purchase power can also be one of
the reasons behind the promising market scenario.
Automotive Electronic Brake System Market Companies Details
Segmentation of automotive electronic
brake system market
Global automotive electronic brake system market can
be segmented on vehicles, channels, and products. In terms of product, the
market can be further classified into disc brakes and drum brakes. To be
specific about electronic brake systems, it is consist of disc type and drum-type
braking elements. In terms of application, these devices can be further
classified into passenger cars, two-wheelers, and light commercial vehicles. Based
on region, global automotive electronic brake system market can be further
classified into North America, Asia Pacific, Europe, Europe, and South America,
which is led mainly by Asia Pacific.
Automotive Electronic Brake System
Market Regional analysis
Geographically, global automotive electronic brake
system market share can be further classified into North America, Asia Pacific,
Europe, Europe, and South America, which is led mainly by Asia Pacific. Asia
Pacific is the most prominent player in the market, followed by Europe and Asia
Pacific.
Asia Pacific is promising in terms of its growth
rate. Among these, Japan and South Korea are said to be the major contributors.
Keeping the growing number of serious accident insight and growing fleet, China
is projected to be one of the prominent markets that will play major growth in
this business.
Automotive Electronic Brake System Industry
news
Reportedly, Global automotive electronic brake
system market is going to remain the most consistent between the forecast
period of 2023 and 2030. Growing rate of automobile production and advanced
safety demand is cited as the prime reason behind the promising future of
global automotive electronic brake system market
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