Brake-by-Wire System Global Market Opportunities and Strategies to 2034

This report describes and explains the brake-by-wire system market and covers 2019-2024, termed the historic period, and 2024-2029, 2034F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.

The global brake-by-wire system market reached a value of nearly $2.28 billion in 2024, having grown at a compound annual growth rate (CAGR) of 6.08% since 2019. The market is expected to grow from $2.28 billion in 2024 to $3.59 billion in 2029 at a rate of 9.52%. The market is then expected to grow at a CAGR of 10.70% from 2029 and reach $5.97 billion in 2034.

Growth in the historic period resulted from the rising demand for electric vehicles (EVS), surging demand for lightweight vehicle, increasing demand for advanced vehicle safety features and rising investment in software-defined vehicles. Factors that negatively affected growth in the historic period were complex integration and high development and maintenance costs.

Going forward, the increasing urban congestion and smart mobility, growth in commercial vehicle and passenger vehicle, rising number of traffic accidents and favorable government incentives will drive the growth. Factor that could hinder the growth of the brake-by-wire system market in the future include concerns over system reliability and redundancy, cybersecurity risks and impact of trade war and tariff.

Asia Pacific was the largest region in the brake-by-wire system market, accounting for 31.97% or $729.06 million of the total in 2024. It was followed by Western Europe, North America and then the other regions. Going forward, the fastest-growing regions in the brake-by-wire system market will be Asia Pacific and Middle East where growth will be at CAGRs of 10.75% and 9.94% respectively. These will be followed by Western Europe and Eastern Europe where the markets are expected to grow at CAGRs of 9.63% and 9.52% respectively.

The global brake-by-wire system markets is concentrated, with large players operating in the market. The top 10 competitors in the market made up 46.10% of the total market in 2023. Robert Bosch GmbH was the largest competitor with 11.00% share of the market, followed by Continental AG with 7.92%, Hyundai Mobis Co. Ltd. with 5.23%, Aisin Corporation with 4.22%, HL Mando Corporation with 3.85%, Akebono Brake Industry Co. Ltd. with 3.57%, HELLA GmbH & Co. KGaA with 3.10%, Knorr Bremse AG with 2.58%, Brembo S.p.A. (Brembo N.V.) with 2.50% and Infineon Technologies AG with 2.14%.

The brake-by-wire system market is segmented by type into hydraulic or wet type and electronic or dry type. The hydraulic or wet type market was the largest segment of the brake-by-wire system market segmented by type, accounting for 67.20% or $1.53 billion of the total in 2024. Going forward, the electronic or dry type segment is expected to be the fastest growing segment in the brake-by-wire system market segmented by type, at a CAGR of 13.39% during 2024-2029.

The brake-by-wire system market is segmented by sales channel into original equipment manufacturers (OEMs) and aftermarket. The original equipment manufacturers (OEMs) market was the largest segment of the brake-by-wire system market segmented by sales channel, accounting for 91.57% or $2.08 billion of the total in 2024. Going forward, the aftermarket segment is expected to be the fastest growing segment in the brake-by-wire system market segmented by sales channel, at a CAGR of 10.47% during 2024-2029.

The brake-by-wire system market is segmented by application into passenger vehicles and commercial vehicles. The passenger vehicles market was the largest segment of the brake-by-wire system market segmented by application, accounting for 79.45% or $1.81 billion of the total in 2024. Going forward, the commercial vehicles segment is expected to be the fastest growing segment in the brake-by-wire system market segmented by application, at a CAGR of 9.71% during 2024-2029.

The top opportunities in the brake-by-wire system market segmented by type will arise in the hydraulic or wet type segment, which will gain $658.97 million of global annual sales by 2029. The top opportunities in the brake-by-wire system market segmented by sales channel will arise in the original equipment manufacturers (OEMs) segment, which will gain $1.18 billion of global annual sales by 2029. The top opportunities in the brake-by-wire system market segmented by application will arise in the passenger vehicles segment, which will gain $1.03 billion of global annual sales by 2029. The brake-by-wire system market size will gain the most in China at $292.63 million.

Market-trend-based strategies for the brake-by-wire system market include focus on adopting a strategic partnership approach to enhance technology integration and expand market reach, focus on developing advanced braking technology such as electro-mechanical brake systems, to enhance vehicle safety and improve braking efficiency and focus on advance product such ad advanced brake-by-wire solutions to enhance vehicle safety, improve braking response times, and support the integration of autonomous and electric vehicle technologies.

Player-adopted strategies in the brake-by-wire system market include focus on new launches to enhance market presence and focus on strategic partnerships.

To take advantage of the opportunities, the analyst recommends the brake-by-wire system market companies to focus on advanced electro-mechanical brake system development to improve safety and efficiency, focus on developing advanced brake-by-wire solutions to support vehicle innovation, expand in emerging markets, focus on strategic partnerships to accelerate technology integration and market reach, focus on competitive and value-based pricing strategies, focus on digital and partnership-driven promotion, focus on personalized and content-driven promotion and focus on customer-centric staffing and service strategies.

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