Increasing installation of brake boosters in the majority of the modern vehicles, which consist of a vacuum-aided brake system, is anticipated to propel the demand for automotive vacuum brake boosters in the upcoming years.
NEWARK, DE / ACCESSWIRE / August 19, 2024 / The global automotive vacuum brake booster market is currently valued at USD 333.5 million and is projected to grow to USD 680.9 million by 2034, reflecting a compound annual growth rate (CAGR) of 7.4% from 2024 to 2034.
Automotive vacuum brake boosters play a crucial role in vehicle safety systems by converting the force applied by the driver into the braking effect needed to stop the vehicle. Among the various types of brake boosters, hydraulic boosters are in higher demand due to their enhanced safety benefits. Vacuum brake boosters are particularly valued for their effectiveness in panic braking situations, ensuring vehicles decelerate safely and come to a comfortable halt.
The automotive industry is experiencing significant growth due to rising vehicle ownership and increasing production of auto parts. Commercial vehicle are subject to stringent safety mandates, and passenger cars are also benefiting from strict safety regulations imposed by governments. For example, in May 2022, CNXMotion-an alliance between Continental Automotive and Nexteer Automotive-expanded its Brake-to-Steer (BtS) technology by adding two new software functions. These enhancements provide an additional safety layer for electric power steering and steer-by-wire systems.
However, the automotive vacuum brake booster market faces challenges. Issues such as brake fluid leakage, high heat dissipation during braking, and potential malfunctions due to incorrect or disconnected vacuum hoses, low engine vacuum pressure, failed check grommets, or defective check valves may impact market growth. Future Market Insights' latest study, titled ‘Automotive Vacuum Brake Booster Market,' explores these factors in detail.
Launch of Innovative Car Safety Solutions to Foster the Automotive Vacuum Brake Booster Market Share
The burgeoning automotive industry, rising vehicle ownership, and increasing number of various auto parts manufacturers across the globe are estimated to boost the global automotive vacuum brake booster market size in future years. High demand for safety solutions in commercial vehicles, as well as passenger cars backed by implementation of stringent safety norms by governments is another major factor that is expected to aid growth.
In May 2022, for instance, CNXMotion, the joint venture of Continental Automotive and Nexteer Automotive expanded its Brake-to-Steer (BtS) technology with the addition of two novel software functions.
These new functions would help in delivering a backup safety layer to all types of steer-by-wire and electric power steering systems. Increasing number of similar product launches by key players worldwide is likely to augur well for the global market.
Generation of High Heat amid Brake Application May Hamper the Automotive Vacuum Brake Booster Market Growth
Leakage of brake fluid and high heat generated by the application of brakes may obstruct the automotive vacuum brake booster market growth in the evaluation period. In addition to that, automotive vacuum brake boosters can malfunction owing to the disconnected or incorrect vacuum hose, failed check valve, low vacuum pressure from the vehicle's engine, and failed check grommet at the booster.
High Demand for Autonomous Vehicles in India and China to Propel the Asia Pacific Automotive Vacuum Brake Booster Market
Based on region, Asia Pacific is expected to generate the largest automotive vacuum brake booster market share in the upcoming years. Increasing demand for autonomous vehicles across developing countries, such as India and China is anticipated to drive growth.
Many renowned, as well as start-up automobile manufacturers are also focusing on introducing novel autonomous vehicles and services related to these in Asia Pacific to compete with their rivals.
In August 2021, for instance, ARTPARK, a Bengaluru-based software company announced its plan to set up India's first ever test track for driverless vehicles in Karnataka. Thus, the ongoing development of novel features for autonomous vehicles in Asia Pacific is expected to bolster growth.
Rising Sales of Electric Vehicles in the U.S. to Augment the North America Automotive Vacuum Brake Booster Market Size
Increasing implementation of stringent norms by regulatory bodies in developed countries, such as the U.S. and Canada to maintain road safety is likely to augment the demand for automotive vacuum brake boosters across North America.
Rising funding provided by government organizations to conduct research and development activities for launching technologically advanced products compatible with hybrid or electric vehicles is also set to push growth.
According to the U.S. Department of Energy, sales of new light-duty plug-in electric vehicles, including plug-in hybrid electric vehicles and all-electric vehicles, reached 608,000 in 2021 from 308,000 in 2020 in the country. These numbers are projected to increase at a rapid pace owing to increasing concerns regarding environmental safety, thereby augmenting the North America market.
In-Depth Market Analysis: A Complete Report!
https://www.futuremarketinsights.com/reports/automotive-vacuum-brake-booster-market
Key Takeaways from Automotive Vacuum Brake Booster Market
The United States will dominate North America with a 78.4% value share.
India is expected to lead South Asia with an 8.5% CAGR.
Brazil is projected to grow at an 8.2% CAGR.
Spain is anticipated to achieve a 7.9% CAGR.
The Kingdom of Saudi Arabia will experience a 7.1% CAGR.
South Korea is forecasted to grow at a 6.5% CAGR.
China is expected to grow at a 6.1% CAGR.
"The key participants are emphasizing on development of cutting-edge products by conduction of extensive research",- says Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).
Competitive Arena
Key companies in the automotive vacuum brake booster sector are investing in new technologies and forming partnerships. Leading manufacturers are also acquiring smaller companies to grow presence and further penetrate the vacuum brake booster industry across multiple regions.
Leading companies in the industry are focusing on introducing advanced products and enhancing offerings to meet the growing needs of end-user industries while maintaining competitiveness. Aisin Seiki, Bosch, Continental AG, HELLA, and Delphi Technologies are the leading automotive manufacturers functioning in the sector.
Key companies are focusing on maintaining product quality and innovation, diversifying manufacturing ranges, indulging in mergers and acquisitions, and adopting organic growth strategies to maintain a strong foothold in the global market. They are also emphasizing research and development to increase product offerings, which is set to help the market grow considerably.
Top Key Players
Aisin Seiki
Bosch
Continental AG
HELLA
Delphi Technologies
Denso Corporation
Johnson Electric
SHW AG
Rheinmetall Automotive AG
WABCO
Cardone ReGaWatt GmbH
SynTech Bioenergy LLC
What does the Report act as a booster to the market?
In March 2024, Schwäbische Hüttenwerke Automotive GmbH, based in Germany, received a new patent for a vacuum pump to supply negative pressure to a machine assembly. It contains a delivery chamber, including an outlet and inlet opening for gaseous fluids.
In April 2023, ZF Aftermarket, headquartered in the United States, introduced TRW's Electronic Brake Booster, a key component for plug-in hybrids lacking an internal combustion engine, to an independent aftermarket line.
Key Segmentations
By Mechanism:
In terms of mechanism, the segment is divided into camshaft-driven, engine-driven, electric-driven.
By Product Type:
As per product types, the sector is segregated into single diaphragm and tandem diaphragm.
By Vehicle Type:
In terms of vehicle types, the business is divided into passenger cars (compact cars, mid-sized cars, luxury and SUVs) and commercial vehicles (LCVs (light commercial vehicles) and HCVs (heavy commercial vehicles).
By Sales Channel:
Based on sales channels, the business is classified into OEM and aftermarket.
By Region:
Key countries of North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia, and the Middle East and Africa have been covered in the report.
Authored by:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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