The global automotive electronic braking systems market is anticipated to grow at a CAGR of 4.8% during the forecast period (2022-2028). An automotive brake system employs hydraulic pressure generated by the engine to trigger pistons in the calipers that press the brake pads against the rotors. The rotation of the wheels is slowed or stopped as a result of this operation. Growing demand for safety features, increasing vehicle production and sale volume, innovative launches, and government regulations pertaining to safety equipment are some of the factors driving the global automotive electronic braking system market forward. For instance, in February 2018, Continental AG developed the third generation of the antilock braking system (ABS) that responds to vehicle speeds while also offering safer, more controllable, and optimal brake performance while driving.
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The automotive electronic braking system market is expected to grow rapidly due to a variety of advantages over traditional systems, including a reduction in the number of brake system components, predictive braking controls, lower maintenance, and improved diagnostics of the entire system. Automotive electronic braking systems are primarily driven by the growing demand for passenger automobiles and light commercial vehicles. With the introduction of electric and hybrid vehicles in emerging countries, there is a significant demand for efficient braking systems that contribute to overall vehicle weight reduction and improved vehicle efficiency. As a result, the demand for automobile electronic braking systems is expected to rise.
Technological developments in the braking system include the use of GPS to acquire data that aids in curve prediction and corner brake control, that controls when and how to apply brakes as well as vehicle control when applying brakes during a turn. Along with electronic brake systems, a low-speed mitigation braking system linked with a camera or radar assists the driver at urban speeds. Such product advances open up new avenues for future innovation and improvement.
Due to an increase in the frequency of road accidents across the globe, demand for safety features such as antilock braking systems (ABS), traction control, electronic stability control, tire pressure monitors, airbags, and telematics is on the rise. According to the Association for Safe International Road Travel (ASIRT), about 1.3 million people die in road accidents each year, with 3,287 deaths per day on average. Furthermore, road traffic collisions are the tenth biggest cause of death across the globe, accounting for 2.2% of all deaths. People are concerned about these circumstances and want safety systems built into their vehicles. Automobile manufacturers are developing safety measures for vehicles as a result of these circumstances. That in turn, the market for automobile brake systems is booming.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Type
- By Application
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Autoliv Inc., Continental AG, DENSO CORP., Robert Bosch GmbH., ZF Friedrichshafen AG, among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Automotive Electronic Braking Systems Market Report by Segment
By Type
- Traction Control System (TCS)
- Anti-lock Braking System (ABS)
- Electronic Stability Control (ESC
By Application
- OEM
- Aftermarket
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