According to Future Market Insights, the global Automotive Brake Actuation System market will be valued at US$ 5,678.5 million in 2022 and will increase at a CAGR of 4.5% from 2022 to 2032. Market growth is attributed to increasing global demand for passenger cars and commercial vehicles. In addition, increasing awareness of automotive safety features is also driving demand for automotive brake actuators.
| Attributes | Details |
|---|---|
| Market Size 2021A | US$ 5,434.0 million |
| Market Size 2022E | US$ 5,678.5 million |
| Market Size 2032F | US$ 8,818.6 million |
| Value CAGR (2022 to 2032) | 4.5% |
Automotive actuators are used to operate various systems, such as power seats and brake systems, in vehicles. The brake actuator system is an important mechanically operated device used to ensure that the front and rear brakes are applied at the same time. A front-wheel-drive car's front wheels bear approximately 60% of its weight. In order to avoid skidding caused by an imbalance, the brake actuation system is used to achieve balance.
A vehicle's brake actuation system not only prevents the wheels from locking up during braking but also controls various systems such as electronic brake force distribution (EBD), traction control system (TC), hydraulic brake assist (HBA), and cornering brake control (CBC). Systems like this are gaining momentum among OEMs and users amid growing security concerns around the world.
The market analysis for Automotive Brake Actuators from 2017 to 2021 exhibited a historical growth rate of 2.7% CAGR, as the growing awareness regarding safety features in vehicles is increasing and it is one of the main primary factors which is driving the market expansion from 2017 to 2021.
However, according to the most recent FMI analysis, the automotive brake actuator systems market is expected to grow at a rate of 4.5% between 2022 and 2032. Today, nearly every vehicle manufacturer offers advanced safety features for the safety of vehicle drivers and passengers.
Among vehicle types, the passenger car segment dominated the global automotive brake actuation system market in the previous period and is expected to grow at a significant CAGR during the forecast period. The past few years posed serious challenges for the automotive industry. During this time, the automotive industry has undergone significant changes.
A vehicle brake actuator is a relay device in a vehicle's rear brake assembly. When the driver touches the brake pedal, the car's brake actuator applies high pressure to the brake assembly. With traffic accidents on the rise, major car manufacturers are trying different ways to keep their vehicles safe. This should accelerate the introduction of improved automotive brake actuators into future vehicles. Based on the above facts, the global automotive brake actuation systems market is expected to witness significant growth during the forecast period.
The global automotive brake actuation system market is growing due to a number of factors, including stringent government safety standards and consumer preferences shifting to new technological advancements and active safety features. Nowadays safety features are one of the main factors which are been taken into consideration while buying a vehicle.
According to the Association for Safe International Road Travel, 3,287 persons die in traffic accidents on average every day, or almost 1.25 million people each year. The growing worry about traffic accidents around the world is anticipated to increase demand for automobile brake actuators in the near future. Leading automakers are making substantial investments in vehicle braking systems. By effectively integrating design and workflow, they can boost ROI and profitability while also lowering the cost of manufacturing car brake actuators. The global market for automotive brake actuation systems is expanding due to the improved safety benefits of these devices.
Rising concerns over fuel consumption, stringent government laws regulating vehicle emissions, the increasing number of vehicles, and macroeconomic factors such as GDP growth are driving the growth of the automotive brake actuation system market.
With the advancement of technology, key players are introducing many advanced features in vehicles. After a period of time, many other factors, such as high implementation costs, high development costs, and maintenance costs of electronic braking systems, can pose major challenges to the growth of the global automotive brake actuation system market. Also, the slow adoption of new technologies limits the market's growth.
Moreover, the implementation of new trade barriers in significant regions, along with variable raw material prices, is making it difficult for manufacturers of automotive brake actuators to keep their products' prices competitive. This factor also produces obstacles in the automotive brake actuation system market growth.
The global automotive brake actuation system market is expected to witness significant growth during the forecast period from 2022 to 2032. Developed countries such as the USA. and the United Kingdom are expected to play a significant role in the first half of the forecast period 2022 to 2032. while emerging markets such as India, China, and Brazil are expected to pull back in the second half of the forecast period and will drive demand for automotive brake actuation strongly.
According to our Automotive Brake Systems Industry Report, APAC had the highest market share in 2016. Rising car sales from developing countries such as India and China. The Chinese market includes luxury vehicles such as Audi, Mercedes-Benz, and BMW, which will boost demand for the automotive braking system market.
Key players in the global Automotive Brake Actuation System market are Continental AG, ZF TRW, MICO, Inc., Delphi Automotive PLC, Magneti Marelli S.P.A, and Valeo S.A.
With the presence of several global and local players, the automotive braking system market appears to be highly competitive. The growing transportation sector in terms of electrification of powertrains and components provides opportunities for suppliers.
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 4.5% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2017 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million, Volume in 000’Units, and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Operation, Vehicle type, Sales Channel, Region |
| Regions Covered | North America; Latin America; Europe; East Asia; South Asia & Pacific; Middle East and Africa |
| Key Countries Covered | USA, Canada, Mexico, Brazil, Germany, Italy, France, The United Kingdom, Spain, Benelux, Russia, China, Japan, South Korea, India, ASIAN, Australia and New Zealand, GCC Countries, Turkey, South Africa, North Africa |
| Key Companies Profiled | Continental AG; ZF TRW; MICO; Delphi Automotive PLC; Magneti Marelli S.P.A; Valeo S.A. |
| Customization & Pricing | Available upon Request |
In 2021, the value of the Automotive Brake Actuation System Market reached over US$ 5,434.0 million.
During the forecast period, the Automotive Brake Actuation System Market is estimated to expand at a CAGR of 4.5% from 2022 to 2032.
The Automotive Brake Actuation System Market is projected to reach US$ 8,818.6 million by the end of 2032.
China is projected to lead the East Asia Automotive Brake Actuation System Market in the forecast period.
Key players in global Automotive Brake Actuation System market are Continental AG, ZF TRW, MICO, Inc., Delphi Automotive PLC, Magneti Marelli S.P.A, and Valeo S.A.
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Automotive Brake Actuation Systems Market
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