Brake-by-Wire System Market

Brake-by-Wire System Market Outlook (2022-2032)

The worldwide brake-by-wire systems market is valued at USD 8.41 Billion in 2022. The market is expected to maintain an upward trajectory in the forecast duration with a CAGR of 6.8%. Moreover, the global brake-by-wire system is expected to surpass a value of USD16.24 Billion by the end of 2032.

Brake-by-wire system finds application in various types of vehicles, including both commercial and passenger. It is also finding wide application in heavy-duty commercial vehicles, which is known as an electronic braking system. Manufacturers in the brake-by-wire system market are focusing on developing advanced brake technology for the brake-by-wire system. Brake-by-wire system is also witnessing increasing demand for electric and hybrid cars across regions.

Brake-by-wire system is a technology in which hydraulic and mechanical components of the traditional brake systems are replaced by electronic actuators and sensors for the function of braking in automobiles. `The brake-by-wire system is more efficient in terms of braking efficiency, system design, and effectiveness in comparison to the traditional braking system.

Report Attributes	Details
Brake-by-Wire Services Market Size (2022 A)	USD 8.41 Billion
Base Year for Estimation	2022
Forecast duration for this research	2022-2032
Forecasted Market value (2032 F)	USD16.24 Billion
Global Market Growth rate (2022-2032 E)	CAGR of 6.8%
Key Companies Profiled	KSR international, Brembo S.P.A, ADVICS, HYUNDAI MOBIS, ZF Friedrichshafen, Wabco Holdings Inc, Robert Bosch Gmbh, Hitachi Automotive system Americas, Nissin Kogyo Co., Ltd, Haldex

Market Dynamics: Brake-by-Wire System

The wide application in electric vehicles is contributing to higher demand for the brake-by-wire system. Moreover, the brake-by-wire system is also common in the form of an electric park brake that is widely used across mainstream vehicles. Automotive companies, with the launch of electric cars, are using the brake-by-wire system on a large scale. Recently, Audi released E-tron electric vehicle with a brake-by-wire system which is electrohydraulic. Toyota’s Prius Hybrid and Estimate Hybrid are also using a brake-by-wire system.

Drivers: Increased efficiency driving demand for the brake-the-wire system market

Owing to the rise in electric vehicle development and sales, manufacturers in the brake-by-wire system market are also focusing on developing an advanced system to offer a unique product and increase sales. For instance, Continental developed a new brake-by-wire system with brake technology that is based on a 12V electrical system.

The braking efficiency and effectiveness offered by the brake-by-wire system, as compared to the traditional braking system, is driving the demand in the brake-by-wire system market. Manufacturers are developing brake-by-wire systems, including sub-systems and electronic components such as actuators, sensors, and control units, to analyze vehicle data correctly.

The brake-by-wire system also helps to gather vehicle data from different sensors in the vehicle, which allow the brake-by-wire system to react quickly, thereby reducing the stopping distance. The features and innovative technology in brake-by-wire systems make them more efficient. This is leading to the wide adoption of the brake-by-wire system by automotive manufacturers.

Trend: Growing focus failure proof electronic braking system

There are chances of technical issues related to the braking of electronic systems that have risen the need for fail-proof systems. Braking systems are seen as reliable, and it’s anticipated that their adoption will increase globally in the automotive sector in the forecast duration.

Restraints in Penetration of Brake-by-Wire Systems

Considering the acceptance of the widest usage brake-by-wire systems in electric vehicles, companies are expected to see a rising demand trajectory. However, the lack of customer acceptance of electric vehicles is the cause of concern for brake-by-wire systems. There are deterrents like lacking charging infrastructures and the reliability of systems in electric vehicles, causing the decline in sales of these segments. The global player in this field are facing challenges in achieving the finest outcomes is challenging.

Talent attraction and retention is emerging as a key challenge faced by automotive sector players. Transforming consumer interests in more personalization and digitization, there is also an increase in demand for advanced technological solutions for the delivery of better car driving experiences. Supply chain disruptions are also faced by brake-by-wire manufacturers. The covid-19 pandemic had acted as a stimulator for the demand-supply gap owing to persistent lockdown and followed by a decline in automotive sales during 2019-2021.

Region Wise Analysis

North America to lead in global brake-by-wire systems market.

North America is the leading region in global brake-by-wire systems. A country like Canada is expected to remain an important revenue-creating region in the forecast period. There is the majority of automotive players concentrated in the North American region leading to creating scope for dominance in the forecast duration.

The prominent market players in the area are putting emphasis on innovation that is likely to accommodate well for regional markets. The rising adoption of electric vehicles by Americans is another reason for the shoot-up of demand for brake-by-wire systems in the upcoming years.

Segment Wise Analysis

Based on the type, the Electro-hydraulic model of brake-by-wire is widely used in the automotive sector owing to its ability to perform braking in high pressure, unlike traditional systems. The hydraulic breaks work under 800 PSI pressure, while electro-hydraulic breaks can perform at 2000 PSI making it widely preferred.

Original equipment manufacturer parts are matching with the vehicles and are of the same quality as the original car components. However, these parts are the most expensive. The anticipated share of aftermarket parts sales is dominating OEMs due to wide availability and cheaper prices. There are more options in aftermath materials due to more players involved in the competition.

Competitive analysis

Technology is driving market competition

The market for the Brake-by-wire system is moderately fragmented because of the presence of key players. The necessity for improving the Brake-by-wire system reliability and performance has become one of the main areas of concentration for automotive brake manufacturers.

More modern technologies are being introduced from time to time, which are intended to enhance the performance of the brake-by-wire system. This would make way for the manufacturers to deliver more efficient, newer generation, and technologically advanced Brake-by-wire systems during the forecast period. Leading companies in the industry are opting for collaborations among themselves for the expansion of their customer base.

The research report presents a comprehensive assessment of the brake-by-wire market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments, such as geographies, applications, and industries.

• Yandex partners with Hyundai Mobis to develop driverless cars. Both companies have signed an MoU for the joint development of a control system for driverless cars. The prototype of a driverless vehicle will be launched before the end of 2019.
• Volvo has developed new hybrid powertrains for their cars. The automaker will also energy recovery braking system along with the brake-in-wire system acting as the interface between brakes and a brake pedal.

Brake-by-wire System Market- Key Segments

• By Type

  • Hydraulic or Wet type
  • Electronic or Dry type

• By Sales Channels

  • OEMs
  • Aftermarket

• By Region

  • North America 
  • Latin America 
  • Western Europe 
  • CIS and Russia
  • Asia-Pacific 
  • Japan
  • The Middle East and Africa