Valued at USD 3.6 Bn in 2022, the market is projected to reach USD 14 Bn by 2030, growing at a 30% CAGR. Europe holds the largest share, while Asia-Pacific grows fastest. The report profiles 17 companies.
The global electric brake booster market was valued at USD 3.6 Bn in 2022 and is projected to reach USD 14 Bn by 2030, growing at a CAGR of 30%. Europe is the largest regional market and Asia-Pacific is growing fastest.
Global Electric Brake Booster Market 2023–2032 (By Billion)
Stringent government regulations for vehicle safety are bolstering market growth.
According to Custom Market Insights (CMI), The Global Electric Brake Booster Market sizewas worth around USD 2.3 billion in 2021 and is expected to reach USD 3.6 billion in 2022 and is predicted to grow to around USD 14 billion by 2030 with a compound annual growth rate (CAGR) of roughly 30% between 2022 and 2030. The report analyses the Electric Brake Booster market’s drivers and restraints and their impact on demand throughout the projection period. In addition, the report examines global opportunities in the global Electric Brake Booster market.
An automotive brake booster is a safety feature that helps with smooth brake activation and reduces the amount of pedal effort needed for stopping. It is put in front of the driver's knees, under the hood of a car, or on the engine compartment's firewall. It is a preventive technique used to reduce the likelihood of brake failure, produce an efficient braking system, and provide assistance in the event of panic braking. Additionally, it ensures the car can stop smoothly and decelerate safely.
Electric Brake Booster Market: COVID–19 Impact Analysis
The COVID-19 epidemic caused a decrease in the auto industry, which harmed demand for electric cars, two-wheelers, and three-wheelers. According to the Society of Electric Vehicle Manufacturers, the total number of electric vehicle registrations decreased by 20% in 2021 to 236,802 units from 295,683 in 2020. Electric two-wheelers (E2W), the largest of the three categories, saw a 6% decline in sales. Sales of electric two-wheeler units decreased from 152,000 in 2020 to 143,837 in 2021. 103,000 low-speed E2Ws and 40,836 high-speed E2Ws were sold in 2021.
Electric three-wheelers were most impacted by the outbreak. In 2020, the E3W category sold 88,378 units, a 37% decrease from the 140,683 units sold the year before. The resultant decline in vehicle production also had a significant effect on the market for electric brake boosters.
Electric Brake Booster Market: Growth Drivers
Government support for the adoption of EVs
To provide lightweight and cost-effective solutions, manufacturers are working to create upgraded products without sacrificing performance. The new production aims to create an integrated and compact brake system that can meet current and future demands for high-performance emergency braking assistance, vacuum-free braking, and energy recovery. Modern vehicles now employ electric brakes instead of traditional hand brakes since they bring practical features, including interior aesthetics, space management, and crashworthiness. Electric braking systems also help to reduce power usage and vehicle weight, which suggests that they may soon be a standard feature in new-generation cars.
Stringent safety regulations
The demand for more efficient auto parts has multiplied due to safety recalls involving faulty vehicle components, including seat belts, airbags, and braking systems.
For instance, manufacturers are now more cautious about the development of braking systems due to safety calls from numerous automotive giants, including Fiat, Mazda, Nissan, and Citroen, as well as the call for the failure of the brake booster water shield.
Moreover, over the forecast period, the demand for electric brake boosters is expected to be driven by tight rules and guidelines to make braking components more efficient.
Electric Brake Booster Market Segmentation Analysis
In our research scope, the Electric Brake Booster market is segmented into brake type, technology, and vehicle type. Based on brake type, the electric brake booster market is segmented into drum and disc brakes. Both drum and disc brakes use friction and heat to halt a moving object, but disc brakes have a much better overall design. To stop wheel movement, disc brakes use a thin rotor and a tiny calliper instead of a metal drum containing all the necessary parts. Because disc brakes displace heat more effectively than drum brakes and stop your automobile far more effectively; as a result, disc brake demand is rising more quickly than drum brake demand.
Based on technology, the conventional vacuum brake booster segment led the market in 2021. The ongoing innovation and improvement in the design of braking systems to ensure the safety of pedestrians and passengers are driving the demand for brake boosters. In addition, the need for more effective braking systems and the expanding vehicle industry have spurred the growth of electric brake boosters.
Report Scope
Feature of the Report
Details
Market Size in 2021
USD 2.3 Billion
Projected Market Size in 2030
USD 14 Billion
Market Size in 2022
USD 3.6 Billion
CAGR Growth Rate
30% CAGR
Base Year
2023
Forecast Period
2024-2033
Prominent Players
Aisin Seiki Co. Ltd., Robert Bosch GmbH, TRW Automotive, Hyundai Mobis, Continental AG, Mando Corporation, Hitachi, Nissin Kogyo, Jilin Dongguang Aowei Brake System Co. Ltd., Zhejiang VIE Science & Technology Co., Wanxiang Group Corporation, BWI Group, FTE automotive Group, APG, Liuzhou Wuling Automobile Industry Co. Ltd, Wuhu Bethel, CARDONE, and Others
Key Segment
By Brake Type, Technology, Type, Vehicle Type, and Region
Report Coverage
Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options
Request tailored purchasing options to fulfil your requirements for research.
Key Insights:
As per the analysis shared by our research analyst, the Electric Brake Booster market is estimated to grow annually at a CAGR of around 30% over the forecast period (2022-2030).
In terms of revenue, the Electric Brake Booster market was valued at around USD 2.3 billion in 2021 and is projected to reach USD 14 billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
Based on type segmentation, the fixed segment was estimated to witness a high CAGR during 2022-2030.
By technology segmentation, the conventional vacuum brake booster segment is estimated to hold a larger market share in 2021.
By type, the single diaphragm booster segment was estimated to hold the maximum market share in 2021.
Based on geography/region, the Asia Pacific region was the leading revenue generator in 2021.
Recent Development
2020: Several lubricants for electric vehicles were unveiled by Kluber Lubrication, a unit of the Freudenberg Group, at the Pragati Maidan Auto Expo 2020 - Components (EVs). According to the manufacturer, these specialized lubricants can assist extend and improve EV battery performance, increase parking brake effectiveness, optimize brake booster performance, and assure actuator reliability at temperatures ranging from -65°C to 200°C, resulting in efficient output.
Regional Landscape
The Asia Pacific currently dominates the market and is anticipated to hold a sizable part of the global market over the projection period. The growth is due to the rising automotive brake booster usage rate in vehicle braking systems and the expanding automotive industry in China, India, and ASEAN countries. The Asia Pacific market is projected to dominate demand for brake boosters due to the region's large number of OEMs and vehicle manufacturing companies. Additionally, the growing demand for electric brake boosters in the area is being driven by China's burgeoning EV industry. In addition, China's electric vehicle industry is thriving due to significant expenditures in innovation and charging infrastructure.
Competitive Landscape
Our report offers quantitative and qualitative insights into the Electric Brake Booster market and significant development initiatives adopted by the key players. Further, it provides competitive details and market share analysis. The report also includes relevant financial information, products and services offered, SWOT analysis, and the players' recent developments.
Prominent Players:
Aisin Seiki Co. Ltd.
Robert Bosch GmbH
TRW Automotive
Hyundai Mobis
Continental AG
Mando Corporation
Hitachi
Nissin Kogyo
Jilin Dongguang Aowei Brake System Co. Ltd.
Zhejiang VIE Science & Technology Co.
Wanxiang Group Corporation
BWI Group
FTE automotive Group
APG
Liuzhou Wuling Automobile Industry Co. Ltd
Wuhu Bethel
CARDONE
The global Electric Brake Booster market is segmented as follows:
Ayush Kadam is a Senior Market Research Analyst at Custom Market Insights, with over seven years of experience in syndicated and custom market research. He specializes in market sizing, competitive intelligence, industry trends, forecasting, and strategic insights, helping clients turn complex data into actionable business decisions.