Source: Market Research Future announcement
NEW YORK — According to a comprehensive research report by Market Research Future (MRFR), Automotive Electronic Brake System Market Research Report By Components, Technology, Sales Channel, Vehicle Type: Forecast 2022-2030, the global market will reach $41,930.2 million at a 6.4 percent compound annual growth rate (CAGR) by 2030.
Automotive Electronic Brake System Market Analysis
The growing electrification of automobiles is significantly driving the growth of the electronic brake system (EBS)market. Electronic components used in modern automobiles have been shown to improve operational efficiency, manage emissions, and reduce overall weight. The car industry’s electrification has improved driving technologies, fuel systems, brake systems, and safety systems.
Preference for Automotive EBS over Others to offer Robust Opportunities
EBS is favored over alternative braking systems principally due to the enhanced benefits of concurrent operation of Antilock Braking System, Anti-Slip Reduction, load sensing system, and others. This will offer robust opportunities for the market over the forecast period.
Eminent industry players profiled in the automotive electronic brake system market report include,
Continental AG (Germany)
Knorr Bremse AG (Germany)
Robert Bosch GmbH (Germany)
ZF Friedrichshafen AG (Germany)
Halla Mando (South Korea)
Akebono Brake Industry Co. Ltd (Japan)
High Development Cost to act as Market Restraint
The high development price of electronic brake systems coupled with a fall in automotive production owing to the severe COVID-19 epidemic across the globe may act as market restraints over the forecast period.
Further information about the report can be found by clicking HERE.