Electric Brake Booster Market Trend, Share, Growth, Size and Forecast 2030

Electric Brake Booster Industry Prospective:

The global electric brake booster market size was worth around USD 2.5 billion in 2022 and is predicted to grow to around USD 19.2 billion by 2030 with a compound annual growth rate (CAGR) of roughly 29% between 2023 and 2030.

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Electric Brake Booster Market: Overview

An electric brake booster is an important part of a vehicle's safety system. The brake booster converts the force provided by the driver of the vehicle into the appropriate braking action. Most current automobiles with vacuum-assisted braking systems use brake boosters. There are two types of brake boosters: hydraulic brake boosters and vacuum boosters. The hydraulic brake booster uses hydraulic pressure generated by the power steering pump to aid in deploying the brakes. As a result, brake boosters provide safety, which is projected to drive the electric brake booster market in the approaching years.

Key Insights

• As per the analysis shared by our research analyst, the global Electric Brake Booster market is estimated to grow annually at a CAGR of around 29% over the forecast period (2023-2030).
• In terms of revenue, the global Electric Brake Booster market size was valued at around USD 2.5 billion in 2022 and is projected to reach USD 19.2 billion, by 2030.
• The growing EV sales across the globe are expected to increase the electric brake booster market growth over the projected timeframe.
• Based on the components, the hydraulic pump segment is expected to hold a significant market share over the forecast period.
• Based on the vehicle type, the passenger vehicle segment is expected to hold the largest market share over the forecast period.
• Based on the sales channel, the aftermarket is expected to grow significantly during the forecast period.
• Based on region, North America is expected to dominate the market over the forecast period.

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Electric Brake Booster Market: Growth Drivers

Increasing demand for vehicle safety drives market growth

The growing number of accident rates has boosted the demand for car safety systems. The need for brake boosters has risen in tandem with the increase in the number of high-speed vehicles. Brake boosters increase driving safety by providing adequate braking systems, resulting in increased safety measures and the expansion of the brake booster market in the coming years. For instance, the European Commission has released preliminary data on traffic deaths for 2022. Last year, around 20,600 persons were killed in traffic accidents, a 3% rise from 2021. Thus, the aforementioned stats are expected to drive the market growth over the forecast period.

Electric Brake Booster Market: Restraints

The high cost of brake booster replacement impedes market growth

Replacing a brake booster generally requires a substantial amount of effort since it necessitates removing sections of the braking system and maybe other vehicle components. Labor expenses might account for a sizable amount of the total cost. For instance, according to the NuBrakes Mobile Brake Repair Service, a brake booster replacement might cost between $325 and $1250. Labor costs normally range from $100 to $200, while auto parts can range from $100 to $900 (or more). The cost is mostly influenced by the brand and type of vehicle, as well as the technician's labor rates. Therefore, the high replacement cost of brake boosters negatively impacted the electric brake booster industry growth.

Electric Brake Booster Market: Opportunities

Growing investment by the key players offers a lucrative opportunity for market growth

The increasing investment by the key players is expected to offer a lucrative opportunity for electric brake booster market growth during the forecast period. For instance, in September 2022, at its Tochigi factory, Bosch Corporation, the Japanese subsidiary of Robert Bosch GmbH, a renowned global supplier of technology and services, began production of its electro-mechanical brake booster, the iBooster. At the same time, the business began manufacturing a smaller counterpart, the iBooster compact, at the facility to address the demand for small automobiles from Japanese automakers. With the progress of electrification and automation, there is a rising need for electro-mechanical brake boosters capable of operating in hybrid and electric cars with minimal or low vacuum, allowing for amazing energy recovery and easy braking control. Bosch intends to increase global manufacturing of the iBooster from 8 million units per year to 11 million units in 2026, with around 60% going to Japanese manufacturers. In light of this, Bosch has opted to produce the iBooster at its Tochigi factory to respond swiftly and flexibly to the demand of Japanese automakers, the iBooster's largest group of consumers. The iBooster is a sophisticated electro-mechanical brake booster that provides high levels of braking functionality such as vacuum independence, tailored pedal feel, increased recuperation, improved automatic emergency braking performance, and brake redundancy when driving autonomously. Bosch has spent $20 million on manufacturing facilities in preparation for production to begin.

Electric Brake Booster Market: Challenges

Complex integration with existing vehicle systems poses a major challenge to market growth

Integrating electric brake boosters with existing vehicle systems, such as electronic control units (ECUs) and advanced driver assistance systems (ADAS), can be technically challenging. It is essential for safety and performance to ensure smooth interaction with other vehicle components.

Electric Brake Booster Market: Segmentation

The global Electric Brake Booster industry is segmented based on the components, vehicle type, propulsion, sales channel, and region.

Based on the components, the global market is bifurcated into hydraulic pump, accumulator, and master cylinder. The hydraulic pump segment is expected to hold a significant market share over the forecast period. The hydraulic pump in electric and hybrid vehicles may pressurize brake fluid to apply traditional friction brakes. Meanwhile, the electronic brake booster can give further regenerative braking assistance by capturing and storing energy while the vehicle is decelerating.

Based on the type, the global market is bifurcated into vacuum booster and hydraulic booster. The vacuum booster segment is expected to dominate the market over the forecast period.

Based on the vehicle type, the global Electric Brake Booster industry is bifurcated into two-wheeler, passenger vehicle, and commercial vehicle. The passenger vehicle segment is expected to hold the largest market share over the forecast period owing to the rising sales of passenger cars. For instance, according to the Society of Indian Automobile Manufacturers, the total number of passenger vehicle sales grew from 30,69,523 to 38,90,114 units. Passenger car sales grew from 14,67,039 to 17,47,376.

Based on the propulsion, the global electric brake booster market is bifurcated into battery electric vehicle, plug-in hybrid electric vehicle, and hybrid electric vehicle.

Based on the sales channel, the global electric brake booster industry is bifurcated into OEM and aftermarket. The aftermarket is expected to grow significantly during the forecast period. The segment growth is attributed to the increasing strategic initiatives by the key players. For instance, in April 2023, ZF Aftermarket is increasing its line of electric vehicle spare parts. The Electronic Brake Booster from the TRW brand is the company's most recent product for the independent aftermarket. This system is an essential component of the braking system in cars that lack an internal combustion engine or use it only sporadically (plug-in hybrids). The initial applications are designed for Volkswagen ID.3 and ID.4 electric vehicles.

Electric Brake Booster Market: Report Scope

Electric Brake Booster Market: Regional Analysis

North America is expected to dominate the market over the forecast period

North America is expected to dominate the global electric brake booster market over the forecast period. The growth in the region is attributed to the growing demand for passenger EVs. It is because consumers' perceptions of electric cars are changing and their concern over the pollution that comes from traditional cars is growing. Government assistance in the form of tax credits and incentives will be provided to buyers of electric motorbikes, scooters, and cars. Customers who purchase electric bikes and scooters can take advantage of incentives offered by many states in the US.

For instance, under the EV Acceleration Challenge, the White House is announcing public and private commitments to help America's historic transition to electric cars (EVs), in line with President Biden's objective of having half of all new vehicle sales be electric by 2030. These commitments are a cornerstone of President Biden's Investing in America plan, which aims to improve supply chains, encourage local manufacturing, increase American competitiveness, and generate well-paying employment. Electric car sales have quadrupled and the number of publicly accessible charging points has increased by over 40% since President Biden entered office as a result of his visionary leadership and historic investments. Currently, the country has over 135,000 public EV chargers and over three million EVs on the road. Thus, driving the market growth in the region.

Electric Brake Booster Market: Competitive Analysis

The global Electric Brake Booster market is dominated by players like:

• Continental AG
• Robert Bosch GmbH
• ACDelco
• Ford Motor Company
• FTE
• Aisin
• Bendix
• Cardone
• Crown Automotive
• STMicroelectronics
• ZF Friedrichshafen AG
• Vitesco Technologies
• Infineon Technologies AG
• Hitachi

The global Electric Brake Booster market is segmented as follows:

By Components

• Hydraulic Pump
• Accumulator
• Master Cylinder

By Type

• Vacuum Booster
• Hydraulic Booster

By Vehicle Type

• Two-Wheeler
• Passenger Vehicle
• Commercial Vehicle

By Propulsion

• Battery Electric Vehicle
• Plug-in Hybrid Electric Vehicle
• Hybrid Electric Vehicle

By Sales Channel

• OEM
• Aftermarket

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa