Table of Contents
Historical Data, Premium Insights, Market Dynamic, Analysis and Projection, By Product, Analysis and Projection, By Application, Analysis and Projection, By End-Use, Analysis and Projection, By Regional Analysis, Competitive Landscape, Company Profiles, Market Revenue, Sale & Price Analysis
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According to a research report published by Spherical Insights & Consulting, The Global Brake Booster Market Size is Expected to Grow from USD 22.68 Billion in 2023 to USD 32.45 Billion by 2033, Growing at a CAGR of 3.65% during the forecast period 2023-2033.
Browse 210 market data Tables and 45 Figures spread through 190 Pages and in-depth TOC on the Global Brake Booster Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Into Single Diaphragm Booster, Dual Diaphragm Booster, Others), By Vehicle Type (Passenger Vehicles, Commercial Vehicles), By End User (OEM, Aftermarket), And By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, And Africa), Analysis And Forecast 2023 - 2033
The global brake booster market refers to the industry that focuses on developing and selling auto parts that improve the braking operation and reduce driver efforts. Electric and vacuum-independent brake boosters are among the latest innovations being developed as an outcome of modifications in automotive manufacturing. The market for automotive brake boosters is also expanding due to the rising need for smart safety features and the growing use of electric vehicles, both of which require more powerful and efficient braking systems. Further, increased automobile security norms enforced by legislation are also driving the growing need for brake boosters. Moreover, the growing consumer desire for energy-efficient, lightweight vehicles is accelerating the adoption of small, economic product versions to suit the expanding need for automotive brake boosters. However, market acquisition faces several obstacles, like supply chain disturbance, economic downturn, and the rising popularity of EVs, which neglect conventional brake boosters.
The single diaphragm booster segment held the largest share of the global brake booster market in 2023 and is projected to grow at a significant CAGR over the forecast period.
On the basis of the product type, the global brake booster market is segmented into single diaphragm booster, dual diaphragm booster, and others. Among these, the single diaphragm booster segment accounted for the largest share of the global brake booster market in 2023 and is projected to grow at a significant CAGR over the forecast period. This is because of ease of use, affordability, and long-term dependability, along with its compact size suited for fleets due to it occupying up less area than dual diaphragm.
The commercial vehicles segment accounted for the greatest share of the global brake booster market in 2023 and is anticipated to grow at a substantial CAGR during the forecast period.
On the basis of vehicle type, the global brake booster market is categorized into passenger vehicles and commercial vehicles. Among these, the commercial vehicles segment accounted for the greatest share of the global brake booster market in 2023 and is anticipated to grow at a substantial CAGR during the forecast period. This segmental growth is attributed to the market expansion because these vehicles are typically utilized for high operational workloads over long distances, so it becomes a top priority and an uncompromising element, especially when it comes to the braking system. Furthermore, development in the cargo and transportation industry, like the warm welcome of e-commerce and last mile delivery, propels segment expansion.
The OEM segment held the largest share of the global brake booster market in 2023 and is projected to grow at a substantial CAGR over the forecast period.
On the basis of the end user, the global brake booster market is segmented into OEM and aftermarket. Among these, the OEM segment held the largest share of the global brake booster market in 2023 and is projected to grow at a substantial CAGR over the forecast period. This segment growth contributed to the market expansion due to guaranteed adherence to safety regulations and performance specifications. Moreover, ongoing investment through R&D and the growing production of hybrid and electric vehicles require particular brake boosters that work compatibly with regenerative brake systems support to the segment expansion.
Asia Pacific is anticipated to hold the largest share of the global brake booster market over the forecast period.
Asia Pacific is expected to hold the greatest share of the global brake booster market over the forecast period. The regional market for brake booster is dominated due to increasing automobile ownership, growing disposable incomes, and rapid development in the automobile sector. Further, rising roadside accidents due to mechanical issues show the growing need for such novel solutions as parts of automotive accessories. Moreover, the rising popularity of EVs and hybrid cars could open wide and growing opportunities for market expansion.
Europe is projected to grow at the fastest CAGR growth of the global brake booster market over the forecast period. The market's expansion throughout the region is further accelerated due to high technological adoption and developed infrastructure in the automotive industry. Moreover, the regional authorities' devotion to sustainable solutions with modern security technologies results in the need for premium brake boosters. Furthermore, the regional market is expanding due to the increasing consumer awareness of car safety.
Company Profiling
Major vendors in the global brake booster market are Aisin Seiki Co., Ltd., Hyundai Mobis, Continnetal, TRW Automotive, Mando Corporation, Robert Bosch GmbH, Nissin Kogyo, Hitachi, Jilin Dongguang Aowei Brake System Co., Ltd., Wanxiang Group Corporation, Zhejiang VIE Science & Technology Co., FTE automotive Group, APG, BWI Group, Wuhu Bethel, CARDONE, Liuzhou Wuling Automobile Industry Co., and others.
Key Target Audience
Recent Development
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global brake booster market based on the below-mentioned segments:
Global Brake Booster Market, By Product Type
Global Brake Booster Market, By Vehicle Type
Global Brake Booster Market, By End User
Global Brake Booster Market, By Regional
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