Global Automotive Brake Booster Market is valued approximately at USD 123.4 million in 2022 and is anticipated to grow with a healthy growth rate of more than 7.61% over the forecast period 2023-2030. Automotive Brake Booster is a safety component that aids in smooth brake activation and reduces the amount of pedal power required for braking. It is installed on the firewall of an engine compartment, beneath a car’s hood, or in front of the driver’s knees. Increased demand for vehicle safety systems and the advent of semi-autonomous and autonomous cars are driving the growth of the automotive brake booster market. Furthermore, heat created by brake application and brake fluid leakage impede the growth of the vehicle brake booster market. Furthermore, rising safety concerns and demand for fast-moving cars are expected to drive up demand for automobile brake boosters also the growing number of traffic accidents has boosted the demand for car safety systems. The need for brake boosters has risen in tandem with the increase in the number of high-speed vehicles.
A semi-autonomous vehicle requires human input for propulsion, while braking is assisted by human intervention. As a result, the growing demand for self-driving vehicles promotes the growth of the automated brake booster market. According to the National Highway Traffic Safety Administration (NHTSA), By 2025, there will be 3.5 million self-driving automobiles on American highways, with 4.5 million by 2030. However, the organisation warns that these automobiles will not be completely driverless, but will have autonomous capabilities in some instances. Furthermore, the Institute of Electrical and Electronics Engineers predicts that 75% of autos on the road will be self-driving by 2040. Additionally, with the increasing focus on road safety, there is a rising demand for advanced safety features in vehicles. Also, the growing popularity of electric and hybrid vehicles presents significant opportunities for the brake booster market. However, the high cost of Automotive Brake Booster stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Automotive Brake Booster Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the market in 2022 owing to the presence of a high number of automobile manufacturing businesses and OEMs in the region. Furthermore, the region’s expansion is being fueled by China’s expanding EV industry. According to the IEA, During the fiscal year 2022, two-wheelers accounted for approximately 231,000 of the total EV sales in India. This was a significant increase above the previous year’s value. This is expected to witness an increase in demand for Automotive market in the near future. North America is expected to grow significantly during the forecast period, owing to a well-established and mature automotive industry. Moreover, the presence to prominent players in the region coupled with increased R&D investment will bolster the demand in the region. Moreover, rising awareness regarding various technological developments is compelling manufacturers to deliver an experience that is both safe and cost-effective at the same time,
Major market player included in this report are:
Aisin Seiki Co.Ltd.
Robert Bosch GmbH, Nissin Kogyo
Wanxiang Group Corporation
Zhejiang VIE Science & Technology Co.
FTE automotive Group
Liuzhou Wuling Automobile Industry Co., Ltd.,
Recent Developments in the Market:
Ø In September 2022, Honda Civic Type R specs – 2.0L VTEC Turbo now makes 330 PS, 420 Nm; 6MT; fr RM160k in Japan. The transmission also gains a high-rigidity lever and an optimised shift gate pattern for more precise and direct gear changes, accompanied by a helical-type limited-slip differential and aluminum shift knob.
Global Automotive Brake Booster Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Product Type, Vehicle Type, End User, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product Type:
Single Diaphragm Booster
Dual Diaphragm Booster
By Vehicle Type:
Middle East & Africa
Rest of Middle East & Africa