The market for vehicle braking force sensors is expanding as a result of the rising use of automated driving assistance systems in cars for convenience and safety. The increased demand for secure, fuel-efficient automobiles is also projected to fuel market growth. Vehicle brake force sensors are in greater demand as anti-lock braking systems (ABS) are increasingly used in both commercial and passenger vehicles. Government laws that impose strict emission standards are also fostering the expansion of this business. Voltage loss testing, non-contact technology, and increased accuracy due to embedded software are a few other factors that are promoting this industry's expansion.
Vehicle brake force sensors are essential parts of ABS systems, Electronic Stability Control (ESC) systems, and Automated Emergency Braking (AEB) systems, so there is a demand for this market. To keep control and stability while driving, they gauge the amount of braking power applied to the wheels. The ability of these sensors to identify when a vehicle is skidding or losing control as a result of abruptly stopping at a high speed helps to increase safety. By doing this, serious accidents are avoided.
The amount of force applied to the car brakes is measured by a device called a vehicle brake force sensor. By detecting the amount of braking force given to the wheels, these sensors assist in preserving control and stability while driving. To increase road safety, they are utilised in conjunction with AEB, ESC, and ABS systems. Due to strict rules restricting emissions, enhanced safety standards, and a growth in the usage of automated driving assistance systems, there is a greater need for these sensors.
The market for vehicle brake force sensors is anticipated to increase at a CAGR of over 6% from 2021 to 2031, from a value of USD 3.2 billion in 2021 to USD 4.9 billion by the end of 2031.
Due to strict rules restricting emissions and enhanced safety requirements, there is a rising need for car braking force sensors.
High sensor cost and technical complexity are two issues limiting the growth of the vehicle brake force sensor market. It is challenging for businesses to invest in R&D operations for manufacturing better sensors because of the high cost and strict restrictions regarding emission levels and safety standards. In addition, the degree of integration needed between the sensor and its surroundings calls for knowledge that may not be offered by many manufacturers. While these sensors can monitor all aspects of a vehicle's performance while being integrated with other systems like ABS (anti-lock braking system), ESP (electronic stability programme), and traction control system, the development of autonomous vehicles presents a significant opportunity for the vehicle brake force sensor market.
The market for car brake force sensors is extremely competitive and fragmented. Denso Corporation, Nippon Kayaku Co., Ltd., Continental AG, Robert Bosch GmbH, Delphi Automotive LLP, Infineon Technologies AG, Hitachi Automotive Systems Ltd., Valeo SA, and BASF SE are some of the top competitors in the market. To acquire a competitive advantage over their rivals in the market, these companies are concentrating on introducing new products with improved features.
The Metal Type emerged as the Most Lucrative Segment
The market is divided into two categories based on types: metal and plastic. Because of its greater precision and durability, the metal type is predicted to hold the biggest market share. The growing use of metal brake force sensors in expensive cars is another factor boosting market expansion.
The Most Prominent Application is the Commercial Vehicle Segment
Commercial Vehicles & private cars are two market segments based on applications. Due to the growing use of advanced braking systems in trucks and buses, commercial vehicles are anticipated to account for a bigger market share. Government-imposed higher safety standards are also boosting demand for brake force sensors in this industry.
The OEM Segment to emerge as the Most Promising Deployment
The market is divided into aftermarket and original equipment manufacturers (OEMs) according to deployment. The market's predicted dominance in the OEM sector can be attributed to the rising demand for improved braking systems in automobiles. The increasing attention that OEMs are giving to safety features in vehicles is another factor boosting the industry.
The North American Region to render Ample Financing Opportunities
The market is divided into North America, Europe, Asia-Pacific, South America, and the Middle East and Africa based on region. Due to the high safety requirements in the region, North America is projected to dominate the market. Over the projected period, there is anticipated to be an increase in demand for advanced sensors due to the advent of strict rules surrounding automotive systems for pollution levels and safety standards. Additionally, the demand for Vehicle Brake Force Sensors Market in this area is anticipated to be driven by technical developments in braking systems.
COVID-19 Impact and Market Status
Nearly every industry, including the automotive industry, has been significantly impacted by the COVID-19 pandemic and the ensuing global economic collapse. The epidemic has hampered supply chains, cost automakers a lot of money, and postponed or cancelled car launches. The market for car braking force sensors will be negatively impacted throughout 2020 as a result of this disruption in vehicle supply and production. However, there is anticipated to be an increase in demand for brake force sensors in 2021 as a result of government efforts, such as tax breaks and subsidies, aimed at recovering the automotive sector. Additionally, there is still room for growth for braking force sensor producers due to consumers' growing safety concerns caused by frequent traffic incidents in various locations.
Recent Developments in the Vehicle Brake Force Sensor Market
• Together with ZF Friedrichshafen AG, Continental AG began working on novel braking systems for commercial vehicles in January 2019. In order to create brake-by-wire systems, which combine sensors, actuators, and control units, the two automotive suppliers will concentrate on developing this technology.
• The Hotz Brake Force Sensor (HBF-200) was introduced by Hotz Co. Inc. in March 2019 for use in a variety of automobile applications, including ABS and traction control systems.
• A collaboration agreement was inked by Siemens AG and the China Automotive Technology and Research Center in October of this year (CATARC). The primary goal of this alliance is the development of cutting-edge automotive safety technologies, particularly the use of braking force sensor technology in semi-autonomous vehicles.
• An automotive high dynamic range sensor system-on-chip (SoC) for braking systems was introduced by NXP Semiconductors N.V. in April 2020. This SoC is appropriate for many applications, including braking force sensors in driverless vehicles, because of its improved performance and long-term durability.
• The new brake-by-wire system from Hitachi Automotive Systems Americas, Inc. debuted in July 2020 and includes cutting-edge electronic control software for automobiles. To monitor the vehicle's braking system, this system includes a brake force sensor and an integrated body control unit.
• The latest sensor technologies, including brake force sensors, are used in Bosch Mobility Solutions' new ABS (Anti-lock Braking System) with integrated Electronic Stability Control (ESC), which was introduced in September 2020.
• A new four-channel braking force sensor was released by Mechatronics Inc. in March 2021 for use in a variety of commercial vehicle applications, including ABS and EBS systems. With cutting-edge features including pressure, temperature, and diagnostic monitoring, this product offers increased performance.
• Hamamatsu Photonics announced the release of their innovative braking force sensor for commercial cars in November 2021. This product's expanded pressure measuring range makes it appropriate for many uses, including ABS and EBS systems.
• The new braking force sensor system for commercial cars from Continental Automotive Systems and Autoliv, Inc. is anticipated to go on sale in March 2022. This product is suited for a number of applications in the automotive industry because of its numerous features, which include pressure monitoring and temperature monitoring functions.
Vehicle Brake Force Sensor Market Scope
|Revenue forecast in 2031
|USD 4.9 billion
|CAGR of 6% during 2021-2031
|Type, Application, Regions
|North America, Europe, Asia Pacific, South America, Middle East and Africa
|Key Players Profiled
|Denso Corporation, Nippon Kayaku Co., Ltd., Continental AG, Robert Bosch GmbH, Delphi Automotive LLP, Infineon Technologies AG, Hitachi Automotive Systems Ltd., Valeo SA, and BASF SE
Key Segments of the Vehicle Brake Force Sensor Market
Type Overview, 2021-2031 (USD Billion)
Application Overview, 2021-2031 (USD Billion)
• Commercial Vehicle
• Private Car
Regional Overview, 2021-2031 (USD Billion)
• Rest of Europe
• Rest of Asia Pacific
• Rest of South America
• Middle East and South Africa