Global Automotive Brake Booster Market
Global Automotive Brake Booster Market was valued US$ xx Million and expected to reach US$ XX Million by 2027 at a CAGR of xx% during the forecast period.
Global Automotive Brake Booster Market Definition:
Automotive Brake Booster is a device attached to the pedal in order to reduce the human effort applied during braking. The brake booster primarily consists of the master cylinder, input rod, boost body, and reservoir. According to the principle used in the design of the boost body, the brake booster is sold in two variants, vacuum-based or hydraulic based. Electro-hydraulic the brake booster is a modified version of the hydraulic brake booster.
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Global Automotive Brake Booster Market
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Global Automotive Brake Booster Market Dynamics
Global Automotive Brake Booster Market is expected to grow during the forecast period, thanks to the increasing demand for safety systems in vehicles. The growing concerns regarding road safety by economies around the world come in the wake of the social and economic impact associated with accidents. According to World Health Organization, 1.35 A million individuals die in road traffic accidents and create a loss of 3% in gross domestic product to most countries every year. In addition to the social and economic impacts, the cost involved in the safety recalls of the vehicles with faulty parts influences the reputation and brand image of the manufacturers. Therefore, safety has been the cornerstone of automotive manufacturers further aiding the market growth of the brake booster market.
Emergence of the hybrid vehicle and electric vehicle technologies have shifted the R&D efforts of brake booster manufacturers. Development of intelligent brake booster systems that are capable of regenerating the energy consumed during the braking and instant deceleration holds a promising future. The market is expected to witness an increasing demand for the sensor-based electro-hydraulic brake boosters that are compatible with emerging technologies like Traction Control Systems, Anti-lock braking systems, regenerative braking.
The global automotive industry competes using the bottom-line growth approach which primarily focuses on weight and cost reduction. Therefore, most of the automotive manufacturers are replacing the conventional brake systems with the brake booster thanks to the cost and weight reduction provided by the technology.
Global Automotive Brake Booster Market Segment Analysis
Hydraulic brake booster segment held a major market share of xx% in 2019. Hydraulic brake booster segment dominance was attributed to better performance parameters as compared to vacuum boosters, cost advantage over electro-hydraulic booster, and compatibility with the ABS and non-ABS systems. The segment is expected to grow at a CAGR of xx% during the forecast period. Advancements in technologies pertaining to autonomous vehicles, electric vehicles are expected to influence the sales of electric-hydraulic brake boosters.
Global Automotive Brake Booster Market Regional Analysis
The Asia Pacific is expected to be the major contributor to Automotive Brake Booster Market during the forecast period and held xx% market share in 2019. Increasing safety regulations for automotive in economies like China, India, and Taiwan has increased the adoption of brake booster systems. The improvement in the per capita income levels in the region are expected to influence the vehicle ownership rates.
Global Automotive Brake Booster Market1
Global Automotive Brake Booster Market Recent Developments
In January 2021, German based Technology Company ZF developed a new brake control system which will be used in Volkswagen’s ID.3 and ID.4 models and MEB modular e-drive system platform.
Robert Bosch GmbH started the 20,000 square-meters production facility for manufacturing booster at Nanjing, China in order to cater the Chinese electric vehicles market.
Global Automotive Brake Booster Market Competitive Landscape
The MMR reports cover key developments in the automotive brake booster market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product approvals product launches, and others. Inorganic growth strategies activities witnessed in the automotive brake booster market were mergers & acquisitions and collaborations & partnership.
The objective of the report is to present a comprehensive analysis of the Global automotive brake booster market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global automotive brake boosters’ market dynamics, structure by analyzing the market segments, and projects the Global Automotive Brake Booster Market size. Clear representation of competitive analysis of key players by price, financial position, growth strategies, and regional presence in the Global automotive brake booster Market make the report investor’s guide.
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Global Automotive brake booster Market, by Vehicle
• Passenger Vehicles
• Light Commercial Vehicles
• Heavy Commercial Vehicles
Global Automotive brake booster Market, by Technology
• Vacuum Brake Booster
• Hydraulic Brake Booster
• Electro-Hydraulic Brake Booster
Global Automotive brake booster Market, by Sales Channels
• Original Equipment Manufacturer
Global Automotive brake booster Market Segmentation, by Region
• North America
• South America
• Middle East & Africa
Global Automotive brake booster Market Major Players
• Aisin Seiki Co., Ltd.
• ZF Friedrichshafen AG
• Robert Bosch GmbH
• Continental AG
• Hyundai Mobis Co., Ltd.
• TRW Automotive Holdings Corp.
• Mando Corporation
• Nissin Kogyo Co., Ltd.
• Jilin Dongguang Aowei Brake System Co., Ltd.
• Wanxiang Group Corporation
• Zhejiang VIE Science & Technology Co., Ltd
• APG-FTE Automotive Co., Ltd.
• Beijing West Industries (BWI) Group
• Wuhu Bethel Automotive Safety Systems Co., Ltd.
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