Subject: MRR
Automotive Electronic Brake System Market Size Will Grow by 17.01 Mn Units | Increasing Electrification in Vehicles to Boost Market Growth | 17,000+ Technavio Research Reports
NEW YORK, Jan. 25, 2022 /PRNewswire/ -- The "Automotive Electronic Brake System Market by Type and Geography - Forecast and Analysis 2022-2026" report has been added to Technavio's offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the automotive electronic brake system market between 2021 and 2026 is 17.01 mn units. The report also identifies the market to witness a decelerating CAGR of 3.90% during the forecast period.
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Key Market Dynamics:
- Market Driver
The increasing electrification in vehicles is notably driving the automotive electronic brake system market growth. The electronic components installed in modern vehicles are witnessed to boost their functional efficiency, control emission, and reduce the overall weight. Electrification in the automotive industry has enhanced the driving technology, fuel systems, braking systems, and safety systems.
- Market Challenges
However, factors such as high cost of development and maintenance of electronic brake systems will challenge market growth. The transformation of components and braking systems in automobiles currently is from mechanical to electro-mechanical or all-electronic systems resulting in rise in the cost of development in comparison with the hydraulic or mechanical braking systems. Moreover, the costs involved in the maintenance and repair of such systems are high. Thus, the high costs involved in the electronic brake systems is expected to hamper the automotive electronic brake system market growth during the forecast period.
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Key Market Segment Analysis:
The automotive electronic brake system market report is segmented by Type (Passenger vehicles, Light commercial vehicles, Heavy commercial vehicles, and Buses and coaches) and Geography (APAC, Europe, North America, South America, and MEA)
The passenger vehicle segment held the largest market share in 2021 and the segment will continue to retain its dominance in the market during the forecast period mainly due to its growing demand in the emerging economies.
APAC will be the leading region with 47% of the market's growth during the forecast period. The growing demand for automotive safety is one of the major factors influencing the growth of the regional market. Safety features are now in great demand from consumers in developing countries such as China. The high adoption of commercial vehicles in countries such as China, India, and South Korea is contributing to market growth in the region. the emergence of new OEMs in APAC over the last few years is also contributing to the growth in automobile sales, which, in turn, is driving the automotive electronic brake system market in the region.
View our sample report for additional insights into the contribution of all the segments, and regional opportunities in the report.
Some Companies Mentioned
- Aisin Corp.
- Akebono Brake Industry Co. Ltd.
- Brembo Spa
- Continental AG
- Knorr Bremse AG
- Mando Corp.
- Nissan Motor Co. Ltd.
- Robert Bosch GmbH
- Tenneco Inc.
- ZF Friedrichshafen AG
- To gain access to more vendor profiles with their key strategic initiatives in a tailor-made report, Speak to Our Analysts
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Automotive Electronic Brake System Market Scope | |
Report Coverage | Details |
Page number | 120 |
Base year | 2021 |
Forecast period | 2022-2026 |
Growth momentum & CAGR | Decelerate at a CAGR of 3.90% |
Market growth 2022-2026 | 17.01 mn units |
Market structure | Fragmented |
YoY growth (%) | 4.21 |
Regional analysis | APAC, Europe, North America, South America, and MEA |
Performing market contribution | APAC at 47% |
Key consumer countries | China, US, Japan, India, and Germany |
Competitive landscape | Leading companies, competitive strategies, consumer engagement scope |
Companies profiled | Aisin Corp., Akebono Brake Industry Co. Ltd., Brembo Spa, Continental AG, Knorr Bremse AG, Mando Corp., Nissan Motor Co. Ltd., Robert Bosch GmbH, Tenneco Inc., and ZF Friedrichshafen AG |
Market Dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for forecast period. |
Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Key Topics Covered:
- Executive Summary
- Market Landscape
- Market Sizing
- Five Forces Analysis
- Market Segmentation by Type
- Customer landscape
- Geographic Landscape
- Vendor Landscape
- Vendor Analysis
- Appendix
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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Technavio Research
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Email:[email protected]
Website: www.technavio.com/
SOURCE Technavio
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