Global Brake Sensors Market, Type (Electronic Brake Sensors and Disc Brake Sensors), Application (Passenger Vehicle and Commercial Vehicle) - Industry Trends and Forecast to 2031.
Brake Sensors Market Analysis and Size
Rapid urbanization across the globe is one of the major factors driving the growth of the global brake sensors market. The surge in the sales and production of commercial vehicles and off-highway trucks and the integration of the system in heavy and commercial vehicles to apply more massive brake efforts accelerate the market growth. The use of air brake sensors in wider parking and service brake applications, as well as increased railways and high-speed trains, further influence the market. In addition, the rise in vehicle fleets and rising concerns regarding passenger safety and expansion of the automotive sector are positively affecting the global air brake system market.
The global brake sensors market was valued at USD 4.18 billion in 2023 and is expected to reach USD 5.7 billion by 2031, registering a CAGR of 5.3% during the forecast period of 2024-2031. The passenger segment is anticipated to register a considerable CAGR during the forecast period. The brake pedal sensor is a major contributor to optimizing regenerative braking for HEV, PHEV and EV passenger cars. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024-2031
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Base Year
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2022
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Historic Years
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2021
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Quantitative Units
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Revenue in USD billion,
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Segments Covered
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Type (Electronic Brake Sensors and Disc Brake Sensors), Application (Passenger Vehicle and Commercial Vehicle)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, and Rest of Middle East and Africa
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Market Players Covered
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knorr-Bremse AG (Germany) WABCO (U.S.) Meritor, Inc.(U.S.), ZF Friedrichshafen AG (Germany), Wabtec Corporation (U.S.), Nabtesco Automotive Corporation (U.S.), Tenneco Inc (U.S.), SORL Auto Parts, Inc (U.S.), and TSE Brakes Inc. (U.S.)
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Market Opportunities
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Market Definition
The brake pad wear sensor accurately informs the driver about the current wear of the vehicle brake pad. The brake sensor is normally a wire encapsulated by a plastic compound. Once the compound wears down to the minimum wear level on the brake pads, the metal wire makes contact with the metal brake rotor, creating a light to display on the car dash.
Brake Sensors Market Dynamics
- Rapid Urbanization Across the Globe
Technological development across the globe has influenced the brake sensor market to an extent. The surge in the sales and production of commercial vehicles and off-highway trucks and the integration of the system in heavy and commercial vehicles to apply more massive brake efforts accelerate the market growth. The use of air brake systems in wider parking and service brakes applications and increased railways and high-speed trains further influence the market.
- Growing Demand for IoT and Connected Devices
IoT applications rely heavily on sensors to gather data from the physical world and enable connectivity between devices and systems. Furthermore, IoT devices are now being adopted across various industries for real-time monitoring and data collection; hence, the demand for sensors is expected to rise significantly. Sensors are critical in enabling real-time monitoring, data collection, and automation in IoT applications, creating ample opportunities for sensor manufacturers and suppliers.
Opportunities
- Rising awareness about the safety of the vehicle
In a moving vehicle, once the brake pedal is pressed, the pressure is applied to the frictional components near the wheels, which then press against each other to stop the vehicle. Air compressor brake sensors resolve this traditional issue by offering air by offering special fluid to deliver pressure to the braking components. Hence, this braking system reduces the chance of brake failure by avoiding leaks.In addition, the use of air brake systems is being made mandatory under many governmental regulations across the region for vehicles exceeding a certain size or carrying passengers for commercial purposes.
Restraint/Challenge
- Expensive and Excessive Air Leakage Rate
Cost parameter is a significant factor for large vehicles including heavy duty trucks, semi-trailer, and buses, where air brake systems lose out to traditional brake systems. Excessive air leakage rate is another concern for the air brake system. Air system loses pressure at a high rate, which lends importance to the rate at which the system builds pressure. A reservoir that loses pressure too quickly not only puts strains on the compressor at the same time it can also leave without adequate stopping power when it requires the most power.
- High Cost of Sensor Technology
Sensors are sensitive pieces of technology that do fail over time and can be quite expensive to develop and manufacturing advanced sensors often involves complex processes, sophisticated materials, and advanced technologies, which can drive up production costs. This high cost can limit the affordability and accessibility of sensors, particularly for price-sensitive industries or emerging markets. The cost factor can be a barrier to adoption, further furtherhindering the widespread implementation of sensors in vehicles.
This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market, contact data bridge market research for an analyst brief, our team will help you take an informed market decision to achieve market growth.
Brake Sensors Market Scope
The market is segmented on the basis of type and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Electronic Brake Sensors
- Disc Brake Sensors
Application
- Passenger Vehicle
- Commercial Vehicle
Brake Sensors Market Region Analysis/Insights
The market is analyzed and market size insights and trends are provided by country, type, and application as referenced above.
The global brake sensors market is segmented on the basis of type and application The countries covered in the report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, and Rest of the Middle East and Africa.
Asia-Pacific is expected to dominate the market due to the presence of manufacturers and high production of vehicles within the region. However, North America is projected to witness high growth due to the region's technological advancements.
Moreover, the high adoption of electric vehicles coupled with the rapidly expanding semiconductor industry is further estimated to accelerate the expansion over the forecast period 2024-2031. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
The rise in demand for commercial vehciles
The brake sensors market also provides you with a detailed market analysis for every region’s growth for capital equipment, installed base of different kinds of products for the market, the impact of technology using lifeline curves, and changes in battery regulatory scenarios and their impact on the variable frequency drive market. The data is available for the historic period 2016-2021
Competitive Landscape and Brake Sensors Market Share Analysis
The brake sensors market is analyzed, and market size information is provided by country, type & application. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus related to the market
some of the major players operating in the brake sensors market are
- knorr-Bremse AG (Germany)
- WABCO (U.S.)
- Meritor, Inc.(U.S.)
- ZF Friedrichshafen AG (Germany)
- Wabtec Corporation (U.S.)
- Nabtesco Automotive Corporation (U.S.)
- Tenneco Inc (U.S.)
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