Automotive Braking System

Automotive Braking System Market Size Expanding US$ 33.93 Bn by 2027

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The automotive braking system market size is estimated to reach US$ 33.93 billion by the end of 2027, registering a CAGR of 5.3% from 2020 to 2027. The report provides the overall revenue of the global automotive braking system market from 2016 to 2027, considering 2020 as the base year and 2027 as the forecast year.

Brakes are among the significant parts of vehicles that are used to slow down the speed of the vehicle. Consequently, brakes are designed in such a way that efficiently reduces the speed of the vehicle without any ill effects such as sudden stopping.

There are different types of brakes available in the market that includes drum brakes and disc brakes. Disc brakesare manufactured using iron cast or ceramic-matrix & carbon-carbon composites and are attached to the rotating wheel. To stop the wheel, friction materials that are in the form of brake pads are pressed from both sides of the discs that create friction and eventually stopping or decelerating the wheel. Whereas, a drum brake is a traditional brake in which friction is created by the set of shoes or pads that are forced against a rotating drum-shaped vehicle part known as brake drum.

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Growth Factors

The increased implementation of electronic components is one of the prime factors contributing for the market growth. Implementation of these electronic components has led to the development of technologies that are Electronic Stability Control (ESC), Traction Control System (TCS), Antilock Braking System (ABS), and Electronic Brake-Force Distribution (EBD). Adoption of these advanced technologiesalong with rising popularity of vehicle safety technologies among consumers presumed to escalate the market growth. Besides this, high cost of integration expected to restrict the widespread adoption of advanced braking systems. Hence, majority of such technologies are implemented solely in the luxury and premium vehicles.

Other than this, increasing stringency in the vehicle safety norms anticipated to propel the market growth in the coming years. Associations of automobile across the globe are working rigorously towardsthe improvement of vehicle safety. For example, in 2016, the National Highway Traffic Safety Administration (NHTSA) in the U.S. and Insurance Institute for Highway Safety (U.S.)together with 20 prominent vehicle manufacturers, have announced their plan to implement Automatic Emergency Braking (AEB) systems as a standard vehicle feature in all new passenger cars from September 2022. Similarly, the Ministry of Road Transport and Highway (MoRTH), India, in 2015, mandated the integration of ABS in all commercial vehicles. Thus, the market projected to grow at a steady rate over the analysis period.

Report Highlights

  • The Asia Pacific led the global market attributed to the low production cost along with rising demand of transportation in countries such as China and India
  • Europe and North America are other most prominent markets in the automotive braking system owing to strict safety regulations for transportation industry
  • Passenger vehicles captured significant production share of nearly 75%per year that in turn boost the demand for advanced braking system in the passenger vehicle segment
  • Demand for commercial vehicles expected to proliferate in the coming years because of accelerating growth of logistics and transportation industry
  • Based on part type, disc brakes are expected to witness an escalating demand in the near future as it offers shorter stopping distance along with it is more efficient during emergency braking condition
  • By system type, pneumatic braking system exhibits the fastest growth over the analysis period owing to advanced braking and stopping options

Regional Snapshots

The Asia Pacific dominated the global automotive braking system market and expected to retain its position during the forecast period. China is one of the biggest automotive marketplaces in the world. The rising chinese economy as well as increasing disposable income of people in China hassurged the demand for vehicles in the country. In addition, the low production cost has positively favored the growth of vehicle manufacturing in China. In the year 2018, China alone produced 27.8 million vehicles.

On the other side, Europe is one of the most advanced automotive hubs across the world. Component manufacturers are more inclined towards improved technology to gain a competitive edge along with increase their revenue generation. In addition, high export activities of automobiles and related components that include automotive braking systems expected to propel the market growth during the analysis period.

Why Buy this Report?

The purpose of Precedence Research’s automotive braking system market study is to provide stakeholders with a detailed picture of potential barriers and untapped opportunities. The report contains exclusive information to assist businesses in making informed decisions about how to maintain growth throughout the assessment period.

Key Players & Strategies

The global automotive braking system market is highly competitive and fragmented due to the presence of large number of market players. These players focus prominently on the product development & enhancement to maintain their competitive edge. Furthermore, industry participants are also inclined towards inorganic growth strategies to strengthen their market presence.

Certain of the noticeable players in the automotive braking system market include:

  • ZF Friedrichshafen AG
  • Akebono Brake Industry Co., Ltd.
  • Continental AG
  • Brembo S.p.A
  • Robert Bosch GmbH
  • AISIN SEIKI
  • Hyundai Mobis
  • WABCO
  • Hitachi Ltd.

Segments Covered in the Report

This research study comprises complete assessment of the market by means of far-reaching qualitative and quantitative perceptions, and predictions regarding the market. This report delivers classification of marketplace into impending and niche sectors. Further, this research study calculates market size and its development drift at global, regional, and country from 2016 to 2027. This report contains market breakdown and its revenue estimation by classifying it on the basis of vehicle, part type, system type, sales channel, and region:

By Vehicle

  • Commercial Vehicles
  • Passenger Vehicles

By Part Type

  • Disc
  • Drum

By System Type

  • Pneumatic
  • Hydraulic

By Sales Channel

  • Aftermarket
  • Original Equipment Manufacturer (OEM)

By Regional Outlook

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Rest of the World

Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.

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Precedence Research

Precedence Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. Email: sales@flairinsight.com

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