The demand for electric vehicles is growing, and industry leaders are investing more into launching a product that can complement the upcoming EV trend. Additionally, the market is likely to observe new entrants who are focusing on delivering electric brake booster solutions for EVs.
Growing Attention to Vehicle Safety
Road accidents account for 1.25 million deaths, and about 20–50 million people suffer from non-fatal injuries with permanent disabilities every year. These factors are building pressure on automakers and compelling them to save millions of lives by ensuring maximum safety of every vehicle produced by installing an advanced safety system in vehicles.
Automotive companies are developing technologies to improve the vehicle’s overall performance and efficiency in terms of safety. For instance, powerful braking technologies such as Antilock Braking System (ABS) and Electronic Stability Program (ESP) have significantly strengthened the vehicle’s and driver’s safety. This is further aided by electric brake boosters, which offer better safety and comfort in case of an emergency braking situation by building full braking pressure in a few milliseconds. ZF Integrated Brake Control is one such technology designed to generate high brake pressure in less than 150 milliseconds.
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High Dependency on Automobile Manufacturers
The electric brake booster market is dependent on EV and HEV manufacturers, which makes it vulnerable to fluctuations in the automotive market. Demand is directly proportional to the number of vehicles produced in a year
Increasing Demand for Energy-Efficiency in Vehicles
Regenerative braking is a unique technology that converts the vehicle’s kinetic energy to electrical energy during braking, which helps achieve the vehicle’s intended driving range and fuel-efficiency. With the increasing influence of the electric brake boosters, EVs are being designed to recover as much electrical energy as possible braking. Brake booster increases the force exerted on the brake master cylinder by using engine vacuum and pressure, which further helps to boost the energy recovery. For instance, according to Continental AG, its MK C1 brake system delivers 100% of regenerative braking energy.
EVs – Key Contributors to the Electric Brake Booster System Market
The HEV/PHEV segment is expected to witness considerable growth due to the growing adoption of brake boosters in HEVs. For instance, NSK Ltd. has introduced a new ball screw technology that would help in raising the level of safety in the brake field of hybrid and plug-in hybrid vehicles.
Increasing Investments in Japan for the R&D of Electric Brake Boosters
The U.S. is slated to witness a considerate growth rate on account of the presence of industry leaders and growing adoption of EVs in the region. In Europe, the electric brake booster market is mainly influenced by the growing transportation sector in the region. China is considered to be the fastest growing region as various vendors are entering the Chinese market. For instance, according to Bosch Group, as traffic congestion and automation is increasing in China, the ‘iBooster’ would help to promote greater energy-efficiency and safety on China’s roads. Therefore, the company recently opened a manufacturing facility in China. Japanese manufacturers are also investing heavily in the research and development of electric brake boosters. For instance, Hitachi Automotive Systems, Ltd. has filed a patent for an electric booster that can establish an easy connection of an ECU and a stator. Southeast Asia is experiencing positive growth in the market. According to the Federation of Thai Industries (FTI), the Thai automobile market expanded by 13.4 % in 2017. The Indian automotive industry is growing at the fastest CAGR in the APAC region.
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