Automotive Vacuumless Braking Market to Record a Growth of USD 3.08 billion from 2023 to 2028, Aptiv Plc and BorgWarner Inc. to emerge as Some of the Key Companies

NEW YORK, Jan. 29, 2024 /PRNewswire/ -- The automotive vacuumless braking market is estimated to grow by USD 3.08 billion from 2023 to 2028, according to Technavio. The market is estimated to grow at a CAGR of  7.73% during the forecast period. However, the growth momentum will progress. Aptiv Plc, BorgWarner Inc., Brembo Spa, Continental AG, Cummins Inc., GUD Holdings Ltd., Haldex AB, Hitachi Ltd., Knorr Bremse AG, LSP Innovative Automotive Systems GmbH, Nabtesco Corp., Performance Friction Corp., Robert Bosch GmbH, TSE Brakes Inc., Westinghouse Air Brake Technologies Corp., and ZF Off Highway Solutions Minnesota Inc. are key companies. For more insights on the historical (2018 to 2022) and forecast market size (2024 to 2028) - Request a Free sample report

Technavio has segmented the market based on Application (Passenger vehicle and Commercial vehicle) and end-user (OEM and Aftermarket).

• The passenger vehicle segment is estimated to witness significant growth during the forecast period. Automakers, particularly in North America and Europe, are focusing on advancing braking technology for luxury cars to cater to the growing demand for autonomous and personally used vehicles. The preference for luxury cars, driven by innovation, early adoption, and increased disposable income, is fueling the growth. The rise of level 2 and level 3 autonomous vehicles, supported by safety demands and government initiatives, further contributes to growth.

By geography, the market is segmented into APAC, Europe, North America, South America, and the Middle East and Africa. 

• APAC is estimated to contribute 48% to the growth during the forecast period. The region is spearheading automotive innovation, particularly in adopting advanced technologies like vacuumless braking systems. Key economies such as China, India, and Japan are pivotal in this transformation, actively embracing cutting-edge developments to elevate automotive safety standards. With China and India emerging as major players in the global automotive market, the region's swift economic growth increased per capita income, and rising vehicle demand contribute to the widespread adoption of vacuumless braking, especially in passenger cars.

Insights on the contribution of various segments including country and region wise historic data (2018 to 2022), and forecast market size (2024 to 2028) - Download a Free Sample Report

The increase in demand for environmentally sustainable solutions is the key factor driving growth. Vacuumless braking systems offer an eco-friendly solution for the automotive industry to reduce its environmental impact. By eliminating traditional vacuum boosters, these systems enhance braking efficiency, contributing to energy conservation and reduced carbon emissions. The lightweight design aligns with industry commitments to improve fuel efficiency and address stringent emissions standards globally, positioning vacuumless braking as a key element in achieving sustainability goals.

• The integration of vacuumless braking systems with ADAS is the primary trend shaping growth. 
• High implementation costs for integrating advanced braking systems are a significant challenge that restricts growth. 

Insights on Drivers, trends, & Challenges, historic period(2018 to 2022), and forecast period(2024 to 2028)- Request a Free sample report!

Advantages of Automotive Vacuumless Braking Technology for Modern Vehicles

The technology, also known as brake-by-wire systems, offers several benefits in modern vehicles. This technology, often used in electric vehicles (EVs), eliminates the need for traditional vacuum-based braking systems, making it more suitable for the unique requirements of electric and hybrid vehicles. By replacing the traditional vacuum booster with an electric brake booster, vacuumless braking systems can improve the overall efficiency of the braking process in EVs. This technology enables regenerative braking, which recovers energy during braking and stores it for later use, enhancing the vehicle's energy efficiency. Additionally, vacuumless braking systems can integrate with advanced driver assistance systems (ADAS) and adaptive cruise control, enhancing overall vehicle safety and control. As electric vehicles become more prevalent, the market for vacuumless braking technology is expected to grow, driving further innovation in this field.

What are the key data covered in this Market report?

• CAGR during the forecast period
• Detailed information on factors that will drive the growth between 2024 and 2028
• Precise estimation of the size and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the industry across APAC, Europe, North America, South America, and the Middle East and Africa
• A thorough analysis of the competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of companies

Technavio's SUBSCRIPTION platform

Related Reports:

The Global Automotive Brake Pad market size is poised to grow by USD 5.72 billion between 2023 and 2028 accelerating at a CAGR of 13.42%.

The automotive brake hoses and lines market size is estimated to grow by USD 2.99 billion at a CAGR of 2.56% between 2023 and 2028.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Sizes

Five Forces Analysis

Segmentation by Application

Segmentation by End-user

Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About US
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging trends and provide actionable insights to help businesses identify opportunities and develop effective strategies to optimize their positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable insights to identify opportunities in existing and potential areas and assess their competitive positions within changing scenarios.

Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com

SOURCE Technavio

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED