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Brake-By-Wire System Market Transformation: Key Market Size Changes in Recent Years
In recent times, the market size of the brake-by-wire system has seen robust growth. The market, which is projected to rise from $8.77 billion in 2024 to $9.45 billion in 2025, has a compound annual growth rate (CAGR) of 7.8%.
The significant growth witnessed in the past can be credited to factors like increased safety norms, surge in demand for electric cars, a boost in the high-end and high-performance car sector, the pressing requirement for weight reduction in automobiles, and the development of driver assistance systems.
Forecasted to witness robust expansion in the upcoming years, the brake-by-wire system market size is expected to surge to $12.62 billion in 2029, with a compound annual growth rate (CAGR) of 7.5%. This growth projection for the defined period can be linked with the escalating adoption of electric and autonomous vehicles, enhancements in automotive electronics, a heightened focus on safety and stability control systems, government policies encouraging emissions reduction, and the proliferation of connected vehicle technologies.
The forecast period is likely to see significant trends such as the assimilation with autonomous driving systems, advancements in software-controlled control algorithms, the incorporation of wireless communication technologies, a rising preference for regenerative braking features, and progress in sensor technologies.
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What’s Behind the Consistent Growth of the Brake-By-Wire System Industry?
Accelerated use of electric vehicles is likely to spur the expansion of the brake-by-wire system market. Electric vehicles function on electric motors powered by electricity stored in batteries or other alternative energy storage mechanisms.
Due to escalating environmental issues, increased EV infrastructure growth, and governmental incentives, a surge in EV adoption is underway. Brake-by-wire systems employ digital controls to provide exact and swift braking, enhancing vehicular control and stability by eliminating hydraulic parts.
They also lessen weight and boost overall efficiency and range. For example, data from the International Energy Agency, a France-based independent intergovernmental organization, shows that in May 2022, the number of Plug-in hybrid electric vehicles and hybrid electric vehicles was at 95,00,000 and 43,50,000 respectively, seeing an increase from 73,00,000 and 29,00,000 in the previous year, 2022.
Therefore, this trend of increased use of electric vehicles is fuelling the brake-by-wire system market growth.
Top Revenue-Generating Segments in the Brake-By-Wire System Market
The brake-by-wire system market covered in this report is segmented –
1) By Type: Hydraulic Or Wet Type, Electronic Or Dry Type
2) By Sales Channel: Original Equipment Manufacturers (OEMs), Aftermarket
3) By Application: Passenger Vehicles, Commercial Vehicles
Subsegments
1) By Hydraulic Or Wet Type: Electro-Hydraulic Brake (Ehb) Systems, Hydraulic Actuators And Modules
2) By Electronic Or Dry Type: Electro-Mechanical Brake (Emb) Systems, Electronic Actuators, Brake-By-Wire Control Modules
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What Technological Trends Are Set to Revolutionize the Brake-By-Wire System Market?
Prominent businesses in the brake-by-wire system market are pioneering cutting-edge braking technology like electro-mechanical brake systems, aimed at enhancing vehicular safety and braking efficiency. This type of brake system substitutes conventional hydraulic parts with electrical actuators and mechanical linkages, employing electronic controls for precise braking which decreases weight and boosts total efficiency.
For example, in November 2023, ZF Friedrichshafen AG, a technology firm based in Germany that provides state-of-the-art mobility products, introduced the ‘dry’ brake-by-wire system. This system guarantees safety by duplicating all systems and connections for data transmission, processing, and motor power supply.
It delivers up to 9 meters shorter stopping distances during 100 km/h automatic emergency braking and offers up to 17% extra range for electric vehicles due to enhanced brake energy recuperation. Furthermore, the dry brake-by-wire system reduces particle emissions from brake wear by controlling residual drag torques and removing the need to replace brake fluids, thereby diminishing maintenance needs.
How Are Different Regions Contributing to the Brake-By-Wire System Market’s Growth?
North America was the largest region in the brake-by-wire system market in 2023. The regions covered in the brake-by-wire system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Which Firms Are Setting the Benchmark in the Global Brake-By-Wire System Market?
Major companies operating in the brake-by-wire system market are Robert Bosch GmbH, Nissan Motor Co. Ltd., ZF Friedrichshafen AG, Continental AG, Hyundai Mobis Co.
Ltd., Schaeffler Technologies AG & Co. KG, Microelectronics N.V., Parker Hannifin Corporation, Infineon Technologies AG, NXP Semiconductors N.V., Knorr Bremse AG, HELLA GmbH & Co.
KGaA, Mando Corp., Brembo N.V., Akebono Brake Industry Co. Ltd., BWI Group, Haldex AB, KSR International Inc., Delphi Technologies Plc, FUTEK Advanced Sensor Technology Inc., Chassis Autonomy SBA AB
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