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Automotive Brake-By-Wire (BBW) Systems Market Research Reports Information By Component (Brake pedal sensor, Electronic control unit (ecu), Brake actuators, Wheel speed sensors, Steering wheel angle sensors, Yaw sensor, Pressure sensor, Others), By Type (Electro-hydraulic brakes (EHB), Electro-mechanical brakes (EMB), Electric parking brakes (EPB)), By vehicle type (Passenger cars, Commercial vehicles, Off-highway vehicles, Two-wheelers), by solution (One box, Two box) by vehicle propulsion (Ice and Electric vehicles) by sales channel (OEM and aftermarket) Forecast to 2032
Market Report I 2024-05-31 I 281 Pages I Market Research Future
Automotive Brake-By-Wire (BBW) Systems Market Research Reports Information By Component (Brake pedal sensor, Electronic control unit (ecu), Brake actuators, Wheel speed sensors, Steering wheel angle sensors, Yaw sensor, Pressure sensor, Others), By Type (Electro-hydraulic brakes (EHB), Electro-mechanical brakes (EMB), Electric parking brakes (EPB)), By vehicle type (Passenger cars, Commercial vehicles, Off-highway vehicles, Two-wheelers), by solution (One box, Two box) by vehicle propulsion (Ice and Electric vehicles) by sales channel (OEM and aftermarket) Forecast to 2032
Market Overview
The Automotive Brake-By-Wire (BBW) Systems Market was valued at USD 5,403.3 million in 2022. The Automotive Brake-By-Wire (BBW) Systems market is expected to increase from USD 5,791.6 million in 2023 to USD 10,748.1 million by 2032, with a compound yearly growth rate (CAGR) of 6.4% over the forecast period (2023-2032). Increasing demand for BBW systems in modern automobiles due to their various advantages over traditional mechanical braking systems, as well as rising desire for sophisticated safety features, are the primary market drivers propelling the Automotive braking-By-Wire (BBW) Systems market forward.
In recent years, the BBW market has grown significantly, owing mostly to the trend of reducing automotive system components. This technological advancement enhances performance, safety, and efficiency in braking systems by replacing traditional mechanical components with electronic ones. As a result, the increasing shrinking of components is driving the BBW industry.
The demand for lightweight and compact car designs is driving up BBW usage. As manufacturers work to improve fuel efficiency and reduce emissions, the demand for smaller and lighter components has increased. Miniaturization enables the integration of electronic braking systems into automobiles without adding substantial weight, resulting in total weight reductions and increased fuel efficiency. This is consistent with global efforts to produce greener, more sustainable transportation alternatives.
Market Segment insights
The Automotive Brake-By-Wire (BBW) Systems Market is segmented by component, which comprise brake pedal sensors, electronic control units (ecus), brake actuators, wheel speed sensors, steering wheel angle sensors, yaw sensors, pressure sensors, and others.
The market is segmented by type, which comprises electro-hydraulic brakes (ehb), electro-mechanical brakes (emb), and electric parking brakes.
The Automotive Brake-By-Wire (BBW) Systems Market is segmented by vehicle type, including passenger cars, commercial vehicles, off-highway vehicles, and two-wheelers.
The market is separated into one and two boxes based on the answer.
Based on vehicle propulsion, the Automotive Brake-By-Wire (BBW) Systems Market is divided into Ice and Electric vehicles. The market is segmented based on the sales channel, which comprises OEM and aftermarket.
Regional insights
In 2022, the European automotive brake-by-wire (BBW) systems market accounted for around 38.2%. the region's substantial Automotive Brake-By-Wire (BBW) Systems industry, as well as the increasing popularity of sports. One of the primary drivers of demand for Automotive Brake-By-Wire (BBW) Systems in Europe is the region's significant online sports betting business. Several factors contribute to the growth of the European automotive BBW systems market, including severe safety requirements, technical advancements, and the presence of major automobile manufacturers. One driving element unique to the region is the growing need for improved car safety features and systems. Automotive BBW systems improve braking performance, reactivity, and control, complementing the region's emphasis on vehicle safety.
The Asia-Pacific market holds the second-largest market share. The growing automotive BBW systems market in Asia-Pacific is linked to the region's thriving automotive sector, rising disposable incomes, and technical advances. The region's market growth is being driven by rising demand for passenger and commercial cars. Increased urbanization, a growing middle-class population, and improved infrastructure all contribute to the region's expanding automobile sales. Automotive BBW systems provide improved safety, performance, and control, which is consistent with the region's emphasis on improving driving experiences and safety regulations.
Major Players
Robert Bosch GmbH, Continental AG, Brembo S.p.A., AKEBONO BRAKE INDUSTRY CO., LTD., HL Mando Corp, AISIN CORPORATION, Knorr Bremse AG, KSR International Inc. SFS Group, Hitachi Astemo, Ltd., HYUNDAI MOBIS, ZF Friedrichshafen AG, Veoneer HoldCo, LLC., Nasn Automotive Electronics, Shanghai Tongyu Automotive Technology Co., Ltd., and Haldex Industries Corporation are among the market's major players.
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