LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global automotive brake actuator market to grow at a CAGR of approximately 4% during the period 2018-2022, according to their latest report.
This market research report segments the global automotive brake actuator market into the following applications (passenger cars and commercial vehicles) and key regions (the Americas, APAC, and EMEA).
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In this report, Technavio analysts highlight the rising preference for electric brake actuators as a key factor contributing to the growth of the global automotive brake actuator market:
Rising preference for electric brake actuators
The vehicle manufacturers are gradually replacing mechanical components in vehicles with electrical components to increase the efficiency of the system. This has urged the OEMs to develop advanced actuator technologies for brakes. Electric actuators are extensively preferred over conventional brake actuators in automotive as they have increased utility. Electric brake actuators can be designed with servo mechanism that does not rely on engine vacuum for its functioning. This drastically reduces the driver's stress while driving.
According to a senior analyst at Technavio for automotive components, “An electric brake actuator has an electric motor, which assists the pedal force when the driver applies brakes. This system decreases the overall pressure that needs to be exerted by the driver to apply brakes. Besides, electric actuator can easily be installed in a fully-electric or hybrid-electric vehicle.”
Electric brake actuators are compact in size and weigh substantially less compared with conventional brake actuators. Thus, the use of these can help in increasing the fuel efficiency in internal combustion engine vehicles. Electric brake actuators used in electric vehicles could be designed to have regenerative capabilities for recovering a portion of lost energy and increasing mileage of an electric vehicle. The increased utility of electric brake actuators is encouraging vehicle manufacturers to replace conventional brake actuators with electric brake actuators.
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Global automotive brake actuator market segmentation
Of the two major applications, the passenger car segment held the largest market share in 2017, accounting for approximately 69% of the market. The market share for this application is anticipated to increase significantly during the forecast period.
APAC dominated the global automotive brake actuator market in 2017, accounting for a market share of around 55%. The market in this region is expected to project substantial growth during the forecast period.
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