Facts and Factors have published a new research report titled "Electric Brake Booster Market by Components (Hydraulic Pump, Accumulator, and Master Cylinder), By Vehicle Type (Two-Wheeler, Passenger Vehicle, and Commercial Vehicle), By Propulsion (Battery Electric Vehicle, Plug-in Hybrid Electric Vehicle, and Hybrid Electric Vehicle), By Sales Channel (Original Equipment Manufacturer, and Aftermarket): Global and Regional Industry Perspective, Comprehensive Analysis and Forecasts, 2021 - 2026".
"According to the research report, the global Electric Brake Booster Market was estimated at USD 984.4 Million in 2020 and is expected to reach USD 4,108.4 Million by 2026. The global Electric Brake Booster Market is expected to grow at a compound annual growth rate (CAGR) of 26.4% from 2021 to 2026".
Electric braking systems are used when the driver applies the brakes to stop the vehicle. Electric brake boosters reduce the pedal pressure needed for braking. Boosters are mostly found in electric and hybrid automobiles.
The automotive brake booster is an essential component of the vehicle's safety system. The brake booster assists in converting the applied force into the necessary braking effect. The electric brake booster provides effective braking by communicating with the boosters, a master cylinder with an accumulator, and a hydraulic pump. Electric brake boosters operate on an electrically driven motor.
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Industry Major Market Players
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Government Support for Deployment of Electric Vehicles
Manufacturers are striving to deliver enhanced products without compromising performance in order to deliver cost-effective and lightweight solutions. In order to meet the demand for vacuum-free braking, high-performance emergency braking assistance, and energy recovery, new production is focusing on building an integrated and compact braking system that can fulfill both present and future demands. Electric brakes are replacing conventional hand brakes in modern vehicles as they add useful functions such as interior aesthetics, space management, and crashworthiness. Furthermore, electric braking systems aid in the reduction of both power consumption and vehicle weight, implying that electric brakes will soon become a standard feature in new-generation automobiles.
Moreover, the government has implemented enticing laws and incentives to encourage the purchase of electric vehicles. It offers consumers a variety of advantages, including lower selling prices, no or cheap registration fees, and free charging infrastructure for electric vehicles at many charging stations. Furthermore, the government exempts import tax, road tax, and purchase tax based on various subsidies. Automakers have also been pushed to enhance their manufacturing of electric vehicles as a result of these subsidies. Furthermore, the government has made infrastructure investments and implemented advantageous policies. Citing an instance, over the forecast period, the United States government had invested USD 287 billion in highway expansion. In addition, the government will build EV charging stations across the United States to aid in the development of electric vehicles in the country. As a result, the rising preference for electric vehicles is also driving the electric brake booster market.
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COVID-19 Impact on the Global Electric Brake Booster Market
The COVID-19 epidemic declined the auto sector, and the demand for electric automobiles, two-wheelers, and three-wheelers suffered as a result of the disruption. According to the Society of Electric Vehicle Manufacturers, total electric vehicle registrations fell 20% in FY21 to 236,802 units, down from 295,683 in FY20. The largest segment of the three, electric two-wheelers (E2W), had a 6% drop in sales. In FY21, 143,837 electric two-wheeler units were sold, compared to 152,000 in FY20. During FY21, a total of 40,836 high-speed and 103,000 low-speed E2Ws were sold. The epidemic had the greatest impact on electric three-wheelers. The E3W category sold 88,378 units in FY20, down 37% from 140, 683 units sold the previous year. As a result, the production of vehicles has also declined which had a great impact on the electric brake booster market.
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Global Electric Brake Booster Market: Segmentation
The global electric brake booster market is segregated into components, vehicle type, propulsion, and sales channel. The components are the hydraulic pump, accumulator, and master cylinder. In terms of vehicle type, the market has been classified into two-wheelers, passenger vehicles, and commercial vehicles. Based on propulsion, the industry has been bifurcated into battery electric vehicles, plug-in hybrid electric vehicles, and hybrid electric vehicles. The sales channel of the market is bifurcated into OEM and aftermarket.
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North America Region Dominates the Global Electric Brake Booster Market
The electric brake booster market in North America is the most developed. Several strategies have been developed by researchers from various universities and top-tier automobile parts companies. For instance, TRW Inc. has created a brake system with a programmable hydraulic booster that can regulate the pressure in the front caliper. This system is planned to be used to perform regenerative braking on a vehicle's front axle in an electric vehicle. In addition, the rising transportation sector has a significant impact on the European electric brake booster industry. Continental AG's brake systems business division manufactures roughly 10 million brake boosters annually in Jicin, Czech Republic. Furthermore, the worldwide electric brake booster industry is seeing substantial growth in China. Several vendors are attempting to break into the Chinese market. For example, Bosch Group, a supplier of technology and services for electric brake booster systems, is investing roughly EUR 100 million in a newly created production site in Nanjing, China. During the forecast era, Japan is expected to experience remunerative growth. Key players in the region are developing brake systems that can lower the amount of pedal pressure needed for braking and, as a result, companies are manufacturing electric brakes at a rapid rate, particularly for electric and hybrid vehicles in light of the electric vehicle revolution.
Browse the full "Electric Brake Booster Market by Components (Hydraulic Pump, Accumulator, and Master Cylinder), By Vehicle Type (Two-Wheeler, Passenger Vehicle, and Commercial Vehicle), By Propulsion (Battery Electric Vehicle, Plug-in Hybrid Electric Vehicle, and Hybrid Electric Vehicle), By Sales Channel (Original Equipment Manufacturer, and Aftermarket): Global and Regional Industry Perspective, Comprehensive Analysis and Forecasts, 2021 - 2026" report at https://www.fnfresearch.com/electric-brake-booster-market
The global electric brake booster market is segmented as follows:
-- Hydraulic Pump
-- Master Cylinder
By Vehicle Type:
-- Two Wheeler
-- Passenger vehicle
-- Commercial vehicle
-- Battery Electric Vehicle
-- Plug-in Hybrid Electric Vehicle
-- Hybrid Electric Vehicle
By Sales Channel:
KEY REPORT POINTERS & HIGHLIGHTS:
-- Statistically Validated Analysis of Historical, Current, and Projected Industry Trends with Authenticated Market Sizes Information and Data in terms of Value and Volume, wherever applicable
-- Direct and Indirect Factors that Impacted the Industry as well Projected Rationales expected to affect the industry going forward
-- Micro, Meso, Macro, and In-Depth Analysis of Technically relevant and Commercially viable Segments and Sub-segments of the Market
-- Historical and Projected Company / Vendor / OEM / Supplier Market Shares, Competitive Landscape, and Player Positioning Data
-- Historical and Current Demand (Consumption) and Supply (Production) Scenarios as well as Projected Supply-Demand Scenario Analysis
-- Detailed List of Key Buyers and End-Users (Consumers) analyzed as per Regions and Applications
-- Value Chain and Supply Chain Analysis along with Horizontal and Vertical Integration Scenarios
-- Manufacturing and Production Cost Structure Analysis including Labor Cost, Raw Material Expenses, and Other Manufacturing Expenses, wherever relevant
-- Overview of Key Marketing Strategies and Key Sales Channels Adopted in the Market
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