Automatic Brake Valve Market Size Worth $12.85 Billion by 2030: The Brainy Insights
Increased demand for fast racing cars and strict laws requiring the installation of anti-lock braking systems (ABS) in passenger cars and commercial vehicles are driving the automatic brake valve market’s expansion. The report states that the North America region, which presently holds the majority of the market’s revenue share, will continue to be one of the most enticing markets during the projection period.
Newark, March 02, 2023 (GLOBE NEWSWIRE) — The automatic brake valve market was estimated at around USD 6.8 billion in 2021, growing at a CAGR of nearly 7.3% during 2022-2030. The market is projected to reach approximately USD 12.85 billion by 2030.
Brake valves are a specific kind of valve that control the pressure of the brake fluid as part of the brake system. The brake valve controls how much pressure is supplied to the brakes when a person presses the pedal. Controlling the pressure of the braking fluid delivered to the brakes is done via the brake valve, which is normally placed close to the master cylinder. The brake valve works by activating when the pedal is depressed and shutting off when it is released. Automotive brake valve technology is characterized by a number of major trends. One of these trends is the use of electric brake valves. The goal to minimize emissions as well as the requirement for more effective and efficient braking systems are the driving forces behind this. Electric brake valves can control the amount of braking force more precisely and can also be used to recover energy that would normally be lost during braking. The advancement of increasingly complex brake valve sensors and control systems is another important trend. For current brake systems to function with the appropriate level of accuracy and responsiveness, this is important. These systems need to be capable of handling the high speeds and dynamic loads present in modern cars. High-speed racing car demand is on the rise, and anti-lock braking systems (ABS) are required to be installed in passenger cars and commercial vehicles under strict laws. Additionally, integrated electronic braking systems and an increase in the use of electrohydraulic brake valves in brake systems are fueling market demand.
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Growth Factors
Electronic stability control, electronic brake systems, and other modern technologies are becoming more integrated into higher-class automobiles, which will increase demand. Additionally, strict rules pertaining to the safety of the driver and passengers are pressuring the manufacturers to enhance the effectiveness of braking systems. This is expected to significantly increase market demand.
With more electric vehicles being sold each week than were sold in all of 2012 in 2021, sales of electric vehicles doubled to a new record high of 6.6 million. 2 million electric cars were sold worldwide in the first quarter, jumping by 75% from the same period a year earlier, despite pressures along global supply chains. Sales continued to rise sharply into 2022. Around 16.5 million electric cars were expected to be in use worldwide by the end of 2021, quadrupling the amount from the previous year. Numerous reasons, including ongoing legislative backing, have been linked to strong electric vehicle sales. To reach USD 30 billion in 2021, government expenditure on incentives and subsidies will almost quadruple. Many automakers have plans that go above and beyond legislative requirements as more countries aim to electrify their entire road fleets over the coming decades. The market for electric cars has seen a significant surge recently as a result of the growing desire for zero-emission vehicles. Governments from all across the world encourage the usage of electric vehicles. The increasing use of the product in electric vehicles is predicted to boost the global market for automotive brake valves.
The growth of emerging markets, the quickening adoption of new technology, sustainability policies, and shifting consumer ownership preferences are all factors that are causing today’s economies to undergo significant change. The automotive industry will similarly undergo a transition brought about by digitization, rising automation, and new business models. Diverse mobility, autonomous driving, electrification, and connection are four disruptive technology-driven developments that are emerging in the car industry. Individual mobility behavior has fundamentally changed as a result of shifting consumer demands, stricter regulation, and technological advancements. People are using more and more different forms of transportation to go where they need to go; instead of consumers having to go get goods and services, they are being brought to them. As a result, selling of cars will be accelerated by a variety of elements that actively use vehicles. Consumers increasingly utilize their cars as all-purpose transportation, whether they’re driving the entire family to the beach or themselves to work. Additionally, the demand for automobiles has grown dramatically during the past 20 years, increasing competition between various automakers. Modern technologies are used by businesses to attract clients from all over the world and bolster their market position. The upgraded braking systems that boost passenger safety and security are expected to drive growth in the automotive brake valves market during the forecast period.
Segmental Overview
The market for automatic brake valves is split into material type and vehicle type. The material type predicts that steel segment will grow at the fastest rate. Steel is resistant to the wear effects that may be brought on by scoring, galling, and ablation. Additionally, steel is thermally conductive due to the amount of waste heat produced during braking, resists thermal expansion, retains its shape over a broad temperature range, and has a high resistance to heat.
Throughout the projected period, LCVs segment is expected to increase at the quickest rate. The market will benefit from an increase in LCV demand as a result of the growth of the logistics and e-commerce sectors. The development of new retail and e-commerce platforms that call for efficient logistics as a result of escalating urbanization has resulted in a developing market for light commercial vehicles (LCVs).
Regional Overview
In the automatic brake valve market, North America represented the largest market share of the whole market. This is a result of light commercial trucks increasingly using automobile brake valves. Since high power-dense batteries require more potent braking systems, the global demand for brakes and brake valves is anticipated to rise as the prevalence of electric vehicles increases between 2022 and 2030.
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Report Scope
| Base Year | 2021 |
| Forecast period | 2022-2030 |
| Report Coverage | Revenue estimation and forecast, company profile, competitive landscape, growth factors, and recent trends |
| Regional scope | North America, Europe, Asia Pacific, Middle East & Africa, and Latin America |
| Market Size(unit) | USD Billion |
| Automatic brake valve Market CAGR | 7.3% |
| Segments Covered | By Material Type By Vehicle Type |
List of the prominent players in the Global Automatic brake valve market:
• Wabtec Corporation
• Sundoz Co. Ltd
• Alfmeier Precision SE
• Qingdao MABCC International Trade Co., Ltd
• Haldex
• Continental AG
• Poclain
• Hitachi Ltd
• Denso Corporation
• Delphi Automotive
The global Automatic brake valve market is segmented as follows:
By Material Type
• Steel
• Copper
• Brass
• Alloys
By Vehicle Type
• Compact Cars
• Mid-Sized
• Luxury Cars
• SUVs
• HCVs
• LCVs
By Region/Geography
• North America
o The U.S.
o Canada
o Mexico
• Europe
o France
o The UK
o Spain
o Germany
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o Australia
o South Korea
o Rest of Asia Pacific
• The Middle East & Africa
o Saudi Arabia
o UAE
o Egypt
o Kuwait
o South Africa
o Rest of the Middle East & Africa
• Latin America
o Brazil
o Argentina
o Rest of Latin America
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About the report:
The market is analyzed based on value (USD million). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter’s five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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