IMARC Group’s latest report, titled “Automotive Brake Booster Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” finds that the global automotive brake booster market size reached
123.4 Million Units in 2022. Automotive brake boosters refer to essential safety devices located between the brake pedal and master cylinder. They help amplify the force applied on the foot pedal when transferring that force to the master cylinder, facilitating smooth brake actuation and reducing the pedal pressure required to stop or de-accelerate the vehicle. They also enhance brake efficiency and provide a comfortable driving experience by minimizing the effort needed for applying brakes. As a result, automotive brake boosters are widely installed in modern vehicles as a preventive braking measure to create an effective braking mechanism, eliminate the chances of brake failure, and assist in panic braking.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Automotive Brake Booster Market Trends:
The escalating demand for active vehicle safety systems, such as traction control systems (TCS), anti-lock braking systems (ABS), and electronic stability programs (ESP), represents the primary factor driving the market growth. Besides this, the implementation of stringent safety norms due to the increasing road accidents has accelerated the adoption of brake boosters. Additionally, brake boosters are rapidly replacing mechanical and hydraulic braking systems as they help decrease the overall vehicle weight and enhance driver safety and comfort. In line with this, the rising adoption of hybrid and electric vehicles (EVs) has augmented the product demand. Furthermore, the leading manufacturers are developing high-end intelligent braking systems compatible with upgraded automobile models to improve their performance and efficiency. Apart from this, the ongoing research and development (R&D) activities for introducing innovative brake booster and brake distribution technologies have catalyzed the market growth. Other factors, including the expanding automotive industry, increasing popularity of autonomous and semi-autonomous vehicles, surging vehicle ownership rates, inflating consumer disposable incomes, rapid globalization, and technological advancements, are also creating a favorable market outlook. Looking forward, IMARC Group expects the market to reach 191.6 Million Units by 2028, growing at a CAGR of
7.5% during the forecast period (2023-2028).
- The market has been divided based on the product type into single, dual, and other diaphragm boosters.
- Based on the vehicle type, the market has been bifurcated into passenger cars and commercial vehicles.
- On the basis of the end user, the market has been classified as OEMs and replacement.
- Region-wise, the market has been segregated into Asia Pacific, North America, Europe, Middle East and Africa, and Latin America.
- The competitive landscape of the market has also been analyzed, with some of the key players being Aisin Seiki Co., Ltd., Hyundai Mobis, Continnetal, TRW Automotive, Mando Corporation, Robert Bosch GmbH, Nissin Kogyo, Hitachi, Jilin Dongguang Aowei Brake System Co., Ltd., Wanxiang Group Corporation, Zhejiang VIE Science & Technology Co., FTE automotive Group, APG, BWI Group, Wuhu Bethel, CARDONE, Liuzhou Wuling Automobile Industry Co., Ltd., etc.
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