Electro-Mechanical Brake (EMB) System Market Size to Grow USD 549.60 Million by 2029 at a CAGR of 255.12% Forecast 2024 to 2029 | Valuates Reports
BANGALORE, India, Jan. 5, 2024 /PRNewswire/ -- Electro-Mechanical Brake System Market is Segmented by Type (Caliper-Based EMB System, Drum Brake System), by Application (Automotive, Aerospace, Rail): Global Opportunity Analysis and Industry Forecast, 2024-2029. It is Published in Valuates Reports Under the Category of Vehicle Parts & Services.
The Global Market for Electro-Mechanical Brake (EMB) System is projected to reach a revised size of USD 549.60 Million by 2029, growing at a CAGR of 255.12% during the forecast period 2024-2029.
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Major Factors Driving the Growth of EMB System Market:
Environmental concerns and strict pollution rules are driving a paradigm change in the automobile industry towards electric and hybrid cars, positioning EMB systems as essential parts of contemporary braking technology. The adoption of these systems is mostly driven by the inherent safety advantages, which include reduced danger of fluid leakage, accurate control, and quick reaction times.
With the car industry moving towards lighter design trends to improve fuel economy, EMB systems that do not require bulky hydraulic components meet industry goals. Growth in the industry is also fueled by EMB systems' compatibility with regenerative braking for increased energy economy and their connection with Advanced Driver Assistance Systems (ADAS).
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TRENDS INFLUENCING THE GROWTH OF ELECTRO-MECHANICAL BRAKE (EMB) SYSTEM MARKET:
The enhanced safety and performance features that EMB systems provide are among the main drivers driving the market's expansion. EMB systems offer fine-grained control over braking forces, resulting in improved vehicle stability and quicker reaction times. Reliability and safety are enhanced by the removal of hydraulic components, which lowers the possibility of braking fluid leaks, an important consideration for both producers and customers. The EMB System market has grown tremendously as a result of the global transition towards electric cars (EVs). EMB systems are becoming essential parts of electric and hybrid cars as the automotive industry embraces electrification. EMB systems' regenerative braking characteristics and smooth integration with electric powertrains position them as important enablers.
The adoption of EMB systems has been fueled by the car industry's emphasis on lightweight design to improve fuel efficiency. Because there are no bulky hydraulic components in these systems, they are naturally lighter than conventional hydraulic brakes. The weight decrease improves the vehicle's overall efficiency and is consistent with the industry's emphasis on environmental impact and sustainability. One major factor propelling expansion is the combination of EMB systems with Advanced Driver Assistance Systems (ADAS). ADAS technology and EMB systems may work together smoothly to provide features like adaptive cruise control, collision avoidance, and autonomous emergency braking. The market need for EMB systems is increased by the growing integration of these cutting-edge technologies in contemporary automobiles.
One of the features that makes EMB systems unique is regenerative braking, which has become popular due to the emphasis on energy conservation in automobiles. EMB systems are appealing to manufacturers and ecologically aware customers because of their capacity to store and transform kinetic energy into electrical energy during braking, hence improving fuel efficiency and minimizing environmental effects. There are a lot of potential prospects in the EMB systems aftermarket. The aftermarket is seeing a surge in demand for replacement and upgrade alternatives as the installed base of vehicles with EMB systems expands. The market for electro-mechanical brake systems is growing and will continue to expand as a result of the expansion of aftermarket services.
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EMB SYSTEM MARKET SHARE ANALYSIS
The growing automobile industries in China, Japan, and South Korea are major factors in the adoption of Electro-Mechanical Brake (EMB) Systems in the Asia-Pacific area. Asia-Pacific's increased emphasis on technical innovation and the region's fast growth in the electric and hybrid vehicle sectors position it as a major player in the worldwide EMB System market. Initiatives from the government that support electric transportation also accelerate the installation of EMB systems in the area.
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Key Players:
- ZF Friedrichshafen AG
- Bosch
- Continental AG
- WABCO Holdings Inc
- Brembo S p A
- Knorr Bremse AG
- Zhejiang VIE Science & Technology Co.,Ltd.
- KSR International Co.
- Hitachi Automotive Systems
- Haldex
- Meidensha Corporation
- Akebono Brake Industry Co Ltd
- Hyundai Mobis Co. Ltd.
- TWR Automotive Holdings Corp.
- KEB Hana Technology Corp.
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