Automotive Electronic Brake System Market Size, Share & Trends Analysis Report By Application, By Product, Regional Outlook, Competitive Strategies, And Segment Forecasts, 2019 To 2025

The global automotive electronic brake system market is estimated to grow at a CAGR of close to 5% over the forecast period. Technological proliferation and favorable government regulations in countries such as India, and China are expected to drive the automotive electronic brake system market. Increasing awareness among consumers regarding on-road safety is anticipated to push industry growth over the next seven years.

Automotive electronic braking systems offer improved vehicle safety and require minimal maintenance. Moreover, advanced electronic braking systems such as Anti-Lock Braking Systems (ABS) and the Innovative Electro-Magnetic Braking System introduced by automotive OEMs have created breakthrough developments in the industry.

The market can be subdivided on the basis of vehicle, channel, and product. On the basis of product, the market can be bifurcated into disc brakes and drum brakes. Electronic brake systems comprise disc-type and drum-type braking elements. On the basis of application, such devices can be categorized into passenger cars, two-wheelers, and light commercial vehicles.

Advanced electronic brake systems include technologies such as Traction Control System (TCS), Anti-lock Braking System (ABS), and Electronic Stability Control (ESC). The introduction of the electronic braking system in the locomotive and the automotive sector has bought a change in the trade. ABS and ESC are obligatory in developing countries. Such safety inducers like ABS and ESC are expected to help in the growth of the business.

Increasing demand and the gradual rise in automotive production are expected to fuel the growth of such advanced automotive parts and components. The rise in disposable incomes and increased purchasing power amongst consumers can be attributed to the steady growth of the automobile industry. Favorable government regulations and increasing safety norms are expected to significantly drive the demand for such advanced electronic braking system components.

Advanced driver assistance technologies such as collision avoidance and multi-collision brake system are being adapted in cars across different segments as a part of the safety requirement. Institutions such as the New Car Assessment Program safety where the cars are assessed and given safety ratings on the basis of their overall performance start from engine to the brakes safety being one of the parameters is expected to contribute to the growth of the trade.

The other advancements in the technological perspective of the braking systems are the use of GPS to gather data that helps in curve prediction and corner brake control that guides as and when to apply brakes and controlling the vehicle when applying brake during a turn. A low-speed mitigation braking system combined with a camera or radar helps the driver at urban speeds along with electronic brake systems. Such new advancements in the product open up new doors for further innovation and improvement.

The advanced electric parking brake has replaced the conventional handbrakes from a push button on the instrumental panel. The gross weight is reduced which enhances the comfort of the driver, safety, and convenience. Inconsistency in the placement of the system is one of the restraints.

In such a challenging environment and growing segment of affordable cars, a brake system needs to be developed that fulfills all the safety criteria at a suitable price.

Asia Pacific is the major key player in the market followed by Europe and Asia Pacific region. Asia Pacific is the highest growing market in terms of the highest growth rate. Japan and South Korea are expected to contribute significantly to the growth in terms of revenue in the global anti-lock system due to safety norms and firm government regulations. Due to an increase in the number of serious accidents and increased fleet, China is expected to emerge as one of the major regions that are expected to contribute to the growth of this business.

Key players in the industry include AutolivInc, Continental Ag, Delphi Automotive Plc, Denso Corporation, TRW Automotive, and Robert Bosch GMBH. Bosch has played a major role in the development of advanced braking technologies by introducing traction control systems and ESP. The innovative regenerative braking system introduced by Bosch penetrated into the market of hybrid and all-electric vehicles. Continental AG's product portfolio includes an electronic parking brake system, brake-by-wire system, and emergency braking. The competitors are investing a significant amount of money in product development hence the expectation of this market outgrowing in terms of market growth.