Automotive brake boosters: Key market research findings
- Technological innovations and advancements drive market growth
- OEMs account for a majority of the market’s revenue
- Key vendors – Bosch, Continental, Denso, FTE, and AISIN
Technavio’s market research analysts predict the global automotive brake booster market to grow at a CAGR of around 9% between 2016 and 2020. The growth of the market will be driven by continuous innovations and technological advancements in the global automotive industry. OEMs are now introducing safety features such as ABS, EBD with brake boosters, and airbags even in their entry-level models owing to increasing awareness among customers and the introduction of stringent legislations pertaining to safety. By 2020, APAC will continue its market dominance and account for around 54% of the overall market share. The rapidly increasing size of the economy and the growth of the automotive sector are factors that will fuel growth in the automotive brake booster market in APAC during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the automotive brake booster segments based on end-users.
“The automotive industry is replacing mechanical and hydraulic systems with electronic systems in order to reduce the weight of the vehicle and improve safety and comfort. At present, the brake-by-wire technology for the automotive braking system is one of the most popular applications. These systems would have a pedal module, a dependable power system, a central supervisory control system, four intelligent braking actuators, and interfaces to other on-board vehicle systems,” says Siddarth Jaiswal, Lead Analyst, Automotive, Technavio Research.
Original equipment manufacturers (OEMs) segment is expected to dominate the automotive brake booster market by 2020, accounting for more than 86% of the overall market revenue. OEMs are attracting customers by providing safety-enhancing features like brake boosters, airbags, ABS, or EBD in their vehicles, especially in the high-potential markets in emerging countries. Leading OEMs in the market are now focusing on the development of advanced brake booster-based technologies that can provide optimum level of safety while braking.
The key vendors in the market include Bosch, Continental, Denso, FTE, and AISIN. This market is highly fragmented and comprises a large number of vendors. Competition in this market is expected to intensify with stringent safety norms and increasing awareness among the people. Regions like Europe, America, and Japan are the most dominating automotive economies, which display the highest adoption of advanced brake systems and growth in the global market as most of the vehicles manufactured in these regions are fitted with brake boosters along with latest brake technologies.
A more detailed analysis is available in the Technavio report, Global Automotive Brake Booster Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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