Global Electric Brake Booster Market By Type (Single Diaphragm Booster, and Dual Diaphragm Booster), By Application (Automobiles, and Commercial Vehicles), By Region and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2024-2033
- Published date: Jan 2024
- Report ID: 16481
- Number of Pages: 265
- Format:
- keyboard_arrow_up
Quick Navigation
Market Overview
The Global Electric Brake Booster Market size is expected to be worth around USD 25.95 Billion by 2033, From USD 4.59 Billion by 2023, growing at a CAGR of 18.90% during the forecast period from 2024 to 2033.
Electric Brake Boosters, a vital automotive component, enhance braking performance by leveraging electric power. Integrating sensors and control units, they optimize braking force in response to driving conditions.
This innovative technology enhances safety, responsiveness, and efficiency in modern vehicle braking systems, contributing to a seamless and controlled driving experience.
The electric brake booster is used to provide additional pressure that is required for braking. It utilizes an electronic system to process the signal obtained from the brake pedal and operate the master cylinder through a brushless DC motor. These boosters are mainly used in electric and hybrid vehicles.
Gradually, the electric brake booster is replacing the mechanical vacuum brake booster system. Increasing research and development activities by different automobile manufacturers for improving ride quality along with passenger safety have led to the growth of the electric brake booster market in the forecast period.
Additionally, most of the companies have manufactured two levels of electric braking system to overcome the risks of primary electronic brake system failure.
Key Takeaways
- Market Growth: The Electric Brake Booster Market experienced an extraordinary surge, with the market value projected to skyrocket from USD 4.59 billion in 2023 to USD 25.95 billion in 2033, reflecting an outstanding Compound Annual Growth Rate (CAGR) of 18.90%.
- Regional Dominance: Asia-Pacific (APAC) stands out as the dominant region, commanding a substantial 43.1% share, signifying significant demand and market presence for electric brake boosters in the APAC automotive landscape.
- Segmentation Insights:
- Component Leadership: Hydraulic pumps lead with a notable 47.3% share, highlighting their importance in the electric brake booster systems.
- Booster Type Preference: Vacuum boosters dominate with a substantial 61.3% share, underlining their popularity and effectiveness in enhancing braking performance.
- Vehicle Type Focus: Two-wheelers constitute a significant 60.1% share, indicating the growing adoption of electric brake boosters in the two-wheeler segment for improved safety.
- Propulsion Emphasis: Battery Electric Vehicles (BEVs) take the lead with a notable 51.1% share, reflecting the integration of electric brake boosters in the rapidly expanding electric vehicle market.
- Sales Channel Dominance: Original Equipment Manufacturers (OEMs) command a substantial 63% share, highlighting the strong collaboration between brake system manufacturers and vehicle manufacturers.
Market Dynamics:
- Explosive Market Expansion: The market displays an unprecedented and substantial growth trajectory, driven by the rapid electrification of vehicles and the critical role of electric brake boosters in ensuring effective braking performance.
- APAC Market Dominance: APAC’s dominance underscores the region’s pivotal role in the global automotive industry, particularly in the context of the electric vehicle revolution, driving the demand for advanced braking systems.
- Diverse Applications Across Vehicle Types: The prevalence of electric brake boosters in two-wheelers and BEVs highlights the versatility and adaptability of these systems across various vehicle categories.
Industry Analysis:
- Innovation and Technology Integration: The market’s exceptional CAGR indicates dynamic innovation and rapid integration of advanced technologies to meet the evolving demands of the automotive sector.
- OEM Collaboration and Market Penetration: The dominance of OEM sales channels suggests strong collaboration between brake system manufacturers and vehicle OEMs, emphasizing the importance of integrated solutions.
This analysis underscores the Electric Brake Booster Market’s remarkable growth trajectory, driven by the electrification trend and the critical role of advanced braking systems in ensuring the safety and performance of vehicles.
The outstanding growth rate and segmentation dominance indicate a thriving market with sustained relevance, particularly in the context of Asia-Pacific’s pivotal role in the global automotive landscape.
Driving Factors
The demand for electric and hybrid vehicles is increasing gradually, with a significant growth rate, which will boost the growth of the electric brake booster market in the estimated years. Some of the leading automobile manufacturers are also investing in vehicle manufacturing with better brake system technology. This will help the manufacturer to overcome issues and complications due to the vacuum brake.
Bosch iBooster launched an electromagnetic, vacuum-independent brake booster, which is suitable for electric and hybrid vehicles. This will contribute to fulfilling the demand for an advanced braking system in modern driver-assistance automobiles.
According to Bosch, iBooster’s second generation has a lighter which accommodates the increasing demand for lightweight fuel-efficient vehicles. The manufacturer will integrate the program into the electronic brake booster at the end of the production line, which will further be installed according to the model and both left-hand as well as a right-hand-drive car.
Nowadays, the available brake system depends on the vacuum produced by combustion engines using electric energy. However, it is not suitable for the latest driver-assist system. The next-generation drivetrain used in electric and hybrid vehicles requires a new braking assist system for highly efficient combustion engines. This factor may act as the restraining factor for the growth of the target market.
Restraining Factors
Despite the advancements, the Electric Brake Booster Market faces certain restraining factors. High initial costs associated with electric brake booster systems may pose a challenge for widespread adoption, particularly in cost-sensitive market segments.
Compatibility issues with existing braking systems and the need for specialized training for technicians can hinder seamless integration. Additionally, concerns about the reliability and durability of electronic components in demanding automotive environments may impact consumer confidence.
Addressing these factors, along with fostering industry-wide standardization and educating end-users, is essential to overcome barriers and promote the broader acceptance of electric brake boosters in the automotive market.
Growth Opportunities
The Electric Brake Booster Market presents promising growth opportunities driven by several factors. The increasing focus on vehicle safety and the integration of advanced driver assistance systems (ADAS) create a conducive environment for the adoption of electric brake boosters.
As the automotive industry continues to evolve towards electrification and autonomous driving, there is a growing demand for sophisticated braking solutions, that provide enhanced safety and control.
Collaborations between automakers and brake system manufacturers for innovative product development further contribute to growth prospects. Additionally, the aftermarket for electric brake boosters presents an avenue for expansion, catering to the retrofitting needs of existing vehicle fleets.
Trending Factors
Trending factors in the Electric Brake Booster Market include the integration of smart and connected features, such as sensor technologies and electronic control units, to enhance real-time brake system responsiveness.
The trend towards electric and hybrid vehicles is driving the adoption of electric brake boosters, given their compatibility with these eco-friendly platforms. Advancements in energy efficiency, reduced power consumption, and innovative materials are gaining prominence.
Moreover, the development of regenerative braking systems, where electric brake boosters play a crucial role, aligns with the broader trend of sustainable and energy-efficient automotive technologies. These trends collectively contribute to the dynamic evolution of the Electric Brake Booster Market.
Market Segmentation
The Electric Brake Booster Market is strategically segmented based on the type of electric brake booster and vehicle application. Two primary types, namely Electro-Hydraulic Brake Boosters and Electro-Mechanical Brake Boosters, cater to different automotive needs by leveraging hydraulic and electric technologies.
In terms of vehicle application, the market serves both passenger vehicles, comprising sedans and SUVs, and commercial vehicles, including trucks and buses. This segmentation facilitates a nuanced understanding of the market dynamics, enabling industry stakeholders to tailor their strategies to meet the distinct requirements of various vehicle types and optimize the adoption of electric brake booster technologies.
Based on type, the market is segmented into two boxes and one–box. The box segment is expected to witness a significant market share in the electric brake booster market during the forecast period because of its application growth in large-size vehicles such as hybrid cars, electric trucks, buses, or any other heavy vehicle.
Key Market Segments
By Components
- Hydraulic Pump
- Accumulator
- Master Cylinder
By Type
- Vacuum Booster
- Hydraulic Booster
By Vehicle Type
- Two Wheeler
- Passenger Vehicle
- Commercial Vehicle
By Propulsion
- Battery Electric Vehicle
- Plug-In Hybrid Electric Vehicle
- Hybrid Electric Vehicle
By Sales Channel
- OEM
Aftermarket
Regional Analysis
Based on region, the electric brake booster market is segmented into North America, Europe, Asia Pacific, South America, and Middle East Africa. North America is expected to witness a considerable market share in the global electric brake booster market during the forecast period owing to the presence of research organizations as well as top-tier automotive part suppliers that have proposed various schemes.
For instance, TRW Inc., an America-based company, has manufactured a braking system that controls hydraulic booster by regulating the pressure in the front caliper. This braking system is projected to be incorporated into an electric vehicle to generate regenerative braking on the front axle.
The electric brake booster market in the European region is expected to show significant market share owing to the growth of the transportation sector. For instance, Continental AG, one of the leading manufacturers of automobile components, has manufactured around 10 million brake boosters in the Czech Republic, annually.
The Asia Pacific region is expected to witness a noteworthy market share in the global electric brake booster market during the forecast period owing to the presence of emerging economies such as India and China, which witnessed significant growth due to the increasing adoption rate.
Moreover, most of the leading vendors are entering the Chinese market due to the availability of raw materials and labor at a relatively low cost. For instance, Bosch Group is planning to expand its business in the untapped region by establishing a manufacturing plant in China.
The provider of technology and services associated with electric brake booster systems has invested approximately EUR 100 million in a newly constructed manufacturing plant in Nanjing, China. This plant will manufacture iBooster and vacuum-independent electromechanical brakes to cater to their customer base in the APAC region which will boost market growth.
Key Regions and Countries covered іn thе rероrt:
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Russia
- Spain
- Rest of Europe
- APAC
- China
- Japan
- South Korea
- India
- Rest of Asia-Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- MEA
- GCC
- South Africa
- Israel
- Rest of MEA
The Electric Brake Booster Market is shaped by key players driving innovation in automotive braking systems. Renowned companies such as Robert Bosch GmbH, Continental AG, and ZF Friedrichshafen AG play pivotal roles, leveraging advanced technologies to enhance braking performance in modern vehicles.
Aisin Seiki Co., Ltd., TRW Automotive Holdings Corp., and Hitachi Automotive Systems, Ltd., contribute to the competitive landscape with a focus on safety and efficiency.
As the market evolves with a surge in electric and hybrid vehicles, these key players are instrumental in developing cutting-edge electric brake booster solutions, reflecting a commitment to shaping the future of automotive safety and braking technology.
Key Market Players included in the report:
- Aisin Seiki Co. Ltd.
- Robert Bosch GmbH
- TRW Automotive
- Hyundai Mobis
- Continental AG
- Mando Corporation
- Hitachi
- Nissin Kogyo
- Jilin Dongguang Aowei Brake System Co. Ltd.
- Zhejiang VIE Science & Technology Co.
- Wanxiang Group Corporation
- BWI Group
- FTE automotive Group
- APG
- Liuzhou Wuling Automobile Industry Co. Ltd
- Wuhu Bethel
- CARDONE
Recent Developments:
In 2022:
Tech Advancements: Leading players like Bosch, ZF, and Continental introduced advanced brake boosters with features like improved response times, energy regeneration capabilities, and integration with autonomous driving systems. These advancements further solidified the market’s potential.
In 2023:
Consolidation & Partnerships: Strategic collaborations and acquisitions became prominent, with established players like BorgWarner acquiring smaller firms to expand their portfolio and expertise. This trend indicates an increasingly competitive market landscape.
Report Scope:
Report Features Description Market Value (2023) USD 4.59 Billion Forecast Revenue (2032) USD 25.95 Billion CAGR (2023-2032) 18.90% Base Year for Estimation 2023 Historic Period 2016-2023 Forecast Period 2024-2033 Report Coverage Revenue Forecast, Market Dynamics, COVID-19 Impact, Competitive Landscape, Recent Developments Segments Covered By Components(Hydraulic Pump, Accumulator, Master Cylinder), By Type(Vacuum Booster , Hydraulic Booster), By Vehicle Type(Two Wheeler, Passenger Vehicle, Commercial Vehicle), By Propulsion(Battery Electric Vehicle, Plug-In Hybrid Electric Vehicle, Hybrid Electric Vehicle), By Sales Channel(OEM , Aftermarket) Regional Analysis North America: The US and Canada; Europe: Germany, France, The UK, Italy, Spain, Russia & CIS, and the Rest of Europe; APAC: China, Japan, South Korea, India, ASEAN, and the Rest of APAC; Latin America: Brazil, Mexico, and Rest of Latin America; Middle East & Africa: GCC, South Africa, United Arab Emirates, and Rest of Middle East & Africa. Competitive Landscape Aisin Seiki Co. Ltd., Robert Bosch GmbH, TRW Automotive, Hyundai Mobis, Continental AG, Mando Corporation, Hitachi, Nissin Kogyo, Jilin Dongguang Aowei Brake System Co. Ltd., Zhejiang VIE Science & Technology Co., Wanxiang Group Corporation, BWI Group, FTE automotive Group, APG, Liuzhou Wuling Automobile Industry Co. Ltd, Wuhu Bethel, CARDONE Customization Scope Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements. Purchase Options We have three licenses to opt for: Single User License, Multi-User license (Up to 5 Users), Corporate Use License (Unlimited User and Printable PDF) Frequently Asked Questions (FAQ)
What is the Electric Brake Booster Market Size in the Year 2023?The Global Electric Brake Booster Market was USD 4.59 Billion by 2023, growing at a CAGR of 18.90%.
What is the Estimated Electric Brake Booster Market CAGR During the Forecast Period?The Global Electric Brake Booster Market is expected to grow at a CAGR of 18.90% during the forecast period from 2024 to 2033.
What is the Electric Brake Booster Market Size Estimated During the Forecast Period?The Global Electric Brake Booster Market size is expected to be worth around USD 25.95 Billion during the forecast period from 2024 to 2033.
Electric Brake Booster MarketPublished date: Jan 2024add_shopping_cartBuy Now get_appDownload Sample - Aisin Seiki Co. Ltd.
- Robert Bosch GmbH
- TRW Automotive
- Hyundai Mobis
- Continental AG
- Mando Corporation
- Hitachi Ltd. Company Profile
- Nissin Kogyo
- Jilin Dongguang Aowei Brake System Co. Ltd.
- Zhejiang VIE Science & Technology Co.
- Wanxiang Group Corporation
- BWI Group
- FTE automotive Group
- Capgemini SE Company Profile
- Liuzhou Wuling Automobile Industry Co. Ltd
- Wuhu Bethel
- CARDONE
- settingsSettings
Our Clients
Single User $4,599 $3,499 USD / per unit save 24% | Multi User $5,999 $4,299 USD / per unit save 28% | Corporate User $7,299 $4,999 USD / per unit save 32% | |
---|---|---|---|
e-Access | |||
Report Library Access | |||
Data Set (Excel) | |||
Company Profile Library Access | |||
Interactive Dashboard | |||
Free Custumization | No | up to 10 hrs work | up to 30 hrs work |
Accessibility | 1 User | 2-5 User | Unlimited |
Analyst Support | up to 20 hrs | up to 40 hrs | up to 50 hrs |
Benefit | Up to 20% off on next purchase | Up to 25% off on next purchase | Up to 30% off on next purchase |
Buy Now ($ 3,499) | Buy Now ($ 4,299) | Buy Now ($ 4,999) |