Market Overview
Global automotive electronic brake system market is projected to witness growth at a significant CAGR of around 5 percent between the forecast period. 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.
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.
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Market Research Analysis
In terms of region, the global automotive electronic brake system market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. North America held largest market share in 2017. Factors like recent government regulation and initiatives to improve vehicle safety and presence of leading automobile manufacturers in this region is expected to drive the market in this region. US is expected to lead the automotive electronic brake system market in North America region. Rising demand for advanced safety systems in vehicles is expected to drive the demadn for automotive electronic brake system in the US. Europe is expected to hold the substantial market share during the forecast period.
The growth in the production and sale of vehicles and increasing demand for advanced saftey features are the factor driving the automotive electronic brake system market in Europe region. However, Asia-Pacific is estimated to dominate the market during the forecast period. Presence of strict safety norms and firm government regulations towards vehicle safety in countries like Japan, South Korea, China are expected to drive the Automotive Electronic Brake System growth in Asia-Pacific region. China with its tremendus vehicle production and sales and is expected to hold the prominent markrt share in Asia-Pacific region. The demand for automotive electronic brake system in Rest of the World region is driven by the increasing GDP of the countries and rising demand of passenger automobiles.
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.
Regional analysis
Geographically, 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. 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.
Industry news
Reportedly, Global automotive electronic brake system market is going to remain the most consistent between the forecast period of 2016 and 2025. 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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Key Players
The prominent players in the Global Automotive Electronic Brake System market include Advics Group (US), Autoliv Inc. (Sweden), Knorr Bremse AG (Germany), Robert Bosch GMBH (Germany), Wabco Holdings Inc. (US), ZF TRW Automotive (US), Continental AG (Germany), Delphi Automotive Plc (US), Denso Corporation (Japan), Haldex AB (Sweden), are among others.
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