Brake System Market

Brake System Market by Type (Disc, Drum), Technology (ABS, ESC, TCS, EBD), On & Off-Highway Vehicle(Passenger Car, LCV, HCV, Construction-Mining, Tractor), OHV Brake (Hydraulic Wet, Hydrostatic, Dynamic), Actuation and Region - Global Forecast to 2026

Report Code: AT 3016 Jul, 2021, by marketsandmarkets.com

[211 Pages Report] The Automotive Brake System Market is projected to reach USD 26.5 billion by 2026 from an estimated USD 20.9 billion in 2021, at a CAGR of 4.9% during the forecast period. Factors such as rollout of stringent safety regulations, adoption of high-end and luxury cars, and growing adoption of air disc brakes in commercial vehicles are expected to drive the demand for the brake system market.

Brake System Market

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The automotive industry plays a crucial role in building the global economy. However, the COVID-19 outbreak disrupted the entire automotive supply chain on a global scale during the second and third quarters of 2020, impacting new vehicle sales in FY 2020. According to OICA and MarketsandMarkets analysis, vehicle production (including LDV and HDV) witnessed a decline of 19.6% in 2020. The pandemic presented an uncertain recovery timeline for the automotive industry due to lockdowns and shutdown of manufacturing facilities in various parts of the world. The automotive industry faced four major challenges amid COVID-19—limited supply of vehicle parts, reduced sales of new vehicles, the shutdown of production facilities, and a decline in working capital. As the brake system market is dependent on the production of vehicles, this market is expected to be impacted due to the outbreak. However, according to various industry experts, the recovery may regain momentum by the second half of 2021.

Brake system Market Dynamics

Driver: Stopping distance for light- and heavy-duty vehicles

In August 2013, the National Highway Traffic Safety Administration (NHTSA) amended the Federal Motor Vehicle Safety Standard (FMVSS) 121 air brake systems to improve the stopping distance performance of truck tractors. The rule requires most new heavy truck tractors to achieve a 30% reduction in stopping distance compared to currently required levels. For these heavy truck tractors (approximately 99% of the fleet), the amended standard requires those vehicles to stop in not more than 250 feet when loaded to their gross vehicle weight rating (GVWR) and tested at a speed of 60 miles per hour (mph). For a small number of very heavy severe service tractors, the stopping distance requirement will be 310 feet under these same conditions. In addition, this final rule requires that all heavy truck tractors must stop within 235 feet when loaded to their “lightly loaded vehicle weight” (LLVW). Today’s disc brakes are very good at stopping power during braking. Also, around 60-90% of the vehicle’s stopping power comes from the front wheels. Thus, with the implementation of regulations for reduced stopping distance for enhanced safety, the adoption of disc brakes is expected to grow significantly.

Restraint: High development and maintenance costs

Advanced braking technologies involve complex interlinking of electronic and mechanical systems. ABS requires additional components such as sensors, pumps, valves, and controllers, and thus, they are more expensive than conventional braking systems. As ESC and EBD are coupled with ABS, the cost of implementation of these technologies has increased. For instance, according to the National Academies of Sciences, Engineering, and Medicine, the Transportation Research Board (TRB), the cost of implementing ESC on vehicles with anti-lock braking systems can be USD 50 per vehicle. An ABS is expensive to maintain as sensors on each wheel can cost hundreds of dollars. For instance, according to Repair Smith, the average cost of ABS module replacement is USD 300-1,000.

Opportunities: Brake-by-wire systems

The Brake-by-wire system is one of the latest technologies that help achieve weight reduction targets. The brake-by-wire system eliminates mechanical linkages between a system and replaces them with electric wires, motors, and actuators to help reduce the weight as well as improve the response time of the system. In a brake-by-wire system, other brake assistance technologies like antilock braking system (ABS), electronic stability program (ESP), electronic parking brake, and electronic traction control (ETC) can be integrated, thereby eliminating the hardware used in such systems and reducing the weight of vehicles. This is expected to drive the adoption of brake-by-wire technology in the coming years. Also, the increased focus of automotive OEMs on replacing mechanical parts with compact electrical components for better operational accuracy will result in faster adoption of brake-by-wire. Additionally, ongoing developments are further expected to drive brake-by-wire penetration in the coming years.

Challenges: Malfunctioning of electronic braking systems

A vehicle’s ABS control module is designed to notify the driver with a warning light if there is any malfunction in the system. Rarely does the malfunction of the module occurs; however, it is often the sensors or the wiring to the sensors that malfunction. The most common malfunctioning caused is when the ABS is contaminated with debris or metal shavings. When sensor wiring becomes damaged, there is no continuity of signal. In corrosive environments, brake fluid gets contaminated, and the hydraulic unit fails to function.
In 2021, BMW recalled 11 of its 2019-2020 models over a manufacturing fault in the brake boosting unit, leading to possible ABS failure under hard braking. In May 2020, Hyundai Motor Company Australia recalled more than 96,000 vehicles for an issue with the ABS module. Due to the manufacturing defect, an ECU in the ABS module short-circuited when the components were exposed to moisture.

Brake System Market Ecosystem

The market ecosystem comprises raw materials suppliers, component/part manufacturers, brake system manufacturers, and OEMs. Disc and drum brakes are equipped with friction material called brake pads and brake linings. Friction raw materials include phenol resin, aramid fiber, steel fiber, graphite, etc. Parts manufacturers provide components such as ABS control modules, master cylinders, brake boosters, brake pedals, wheel speed sensors, etc. Brake system manufacturers/system integrators then procure these parts/components from suppliers and design a brake system according to OEM requirements, and OEMs directly deploy these systems and install them in their vehicle models.

Brake System Market Ecosystem

COMPANY

ROLE IN ECOSYSTEM

Kor-Pak Corporation

Raw Material Supplier

ProTech Friction Group

Raw Material Supplier

Trimat Limited

Raw Material Supplier

Miba

Raw Material Supplier

TMD Friction

Raw Material Supplier

Cardollite Corporation

Raw Material Supplier

TE Connectivity

Brake Part Manufacturer

KSR International

Brake Part Manufacturer

PVI Ltd.

Brake Part Manufacturer

Batz Group

Brake Part Manufacturer

Continental AG

Brake Part and System Manufacturer

ADVICS Co., Ltd.

Brake Part and System Manufacturer

Mando Corporation

Brake Part and System Manufacturer

Robert Bosch GmbH

Brake Part and System Manufacturer

Haldex AB

Brake Part and System Manufacturer

BWI Group

Brake Part and System Manufacturer

Audi

OEM

BMW

OEM

Hyundai

OEM

Toyota

OEM

Volkswagen

OEM

Volvo

OEM

Chevrolet

OEM

Ford

OEM

Freightliner

OEM

Daimler

OEM

Source: Company Websites and MarketsandMarkets Analysis

The hydraulic brake is expected to be the largest market, by actuation

All passenger cars and light commercial vehicles run on a hydraulic brake system. This braking system works well in passenger cars as they have light construction and low overall weight. Hydraulic brakes require low storage space than pneumatic brakes, and as passenger cars have limited storage space, hydraulic brakes are the most suitable option. Also, pneumatic brakes offer multiple benefits such as better heat dissipation than mechanical brakes, which makes them last longer. Additionally, hydraulic brake systems are the most accessible systems to repair due to the readily available brake parts in the aftermarket.  Asia Pacific is the largest hydraulic brake market. As the hydraulic brake market is directly linked to vehicle production, China and India are expected to hold the largest market shares in Asia Pacific. Also, Asia Pacific is the second fastest-growing hydraulic brake market, considering the growing adoption of hydraulic brakes in passenger cars and light commercial vehicles.

Bus brake systems market is expected to be the fastest-growing in the forecast period

Buses have a lesser number of brakes than trucks but also employ air disc brakes as their preferred choice. As the penetration of air disc brakes increases in buses, the brake system market for buses will get a boost. For instance, according to Brendix, three of the leading full-line Asia Pacific school bus manufacturers – Blue Bird Corporation, Thomas Built Buses, and IC Bus from Navistar – offer ADB22X (air disc brake models) in their vehicles, as does Motor Coach Industries (MCI), the leading intercity coach manufacturer in the US and Canada. The penetration of highly efficient brake systems is on the rise in Asia Pacific, Europe, and Asia Pacific. Thus, with increasing adoption of advanced brake systems in buses, the market is going to witness a boost. Asia Pacific is the largest and fastest bus brake system market. As regulations are becoming stringent in India and China, these regulations will make a big impact on the bus brake system market. For instance, ESC will make its way into Indian buses by 2023 as part of regulations. This will give a strong boost to the market. Europe and Asia Pacific already have a higher share of buses with advanced brake systems, and this is expected to keep increasing in the coming years.

Hydraulic Wet Brake market is expected to be the fastest-growing in the forecast period

Hydraulic wet brakes are mainly used in agricultural tractors and construction equipment. A wet braking system is also called an oil-cooled or oil-immersed disc brake system. Wet brakes are a modern alternative to dry braking systems. Wet brakes offer better stopping power, can withstand harsh working conditions, and do not require frequent maintenance/repairs. It is easier to stop the vehicle when driving through water/wet roads with this hydraulic wet brake system, thereby enhancing the safety of the vehicle. All key tractor manufacturers use wet disc brakes, while only the economy models are equipped with dry disc or drum brakes. Asia Pacific is the largest market for hydraulic wet brake systems. This is mainly due to the presence of the largest tractor markets ― India and China. According to MarketsandMarkets analysis, Asia Pacific accounted for ~75% of total agricultural tractor sales globally. Increase in farm mechanization is significantly boosting tractors sales, driving the hydraulic wet disc brake system market. Also, growing stringency in safety regulations in Europe and Asia Pacific is expected to further boost the hydraulic wet brake system market.

Asia Pacific is expected to lead the market during the forecast period

Asia Pacific is projected to be the largest market for brake system during the forecast period. The market in Asia Pacific is expected to grow due to increasing adoption of advanced safety electronic braking system such as ABS, ESC and TCS. The growing collaboration between local players and global players is driving production of air disc brakes in the region. For instance, in April 2021, Haldex and FAST Group announced an agreement to form a joint venture company to produce and sell air disc brakes and aftersales services for trucks and buses with a primary focus on the Chinese market. Also, increasing sales of premium and luxury vehicles in the region is driving brake system market. The penetration of electronic braking systems in Rest of Asia Pacific is limited as of now and is not a mandatory feature. Thailand has a higher penetration of ABS and ESC than Indonesia and Malaysia. But the collaborations between local and global NCAPs are driving the popularity of advanced electronic braking systems. Also, the Government of Malaysia announced the mandatory fitment of ESC in new passenger cars in June 2018. Thus, considering the abovementioned factors, the Rest of Asia Pacific brake system market is expected to witness growth.

Asia Pacific: Brake System Market

Brake System Market by Region

Key Market Players

The global brake system market includes players, such as Robert Bosch GmbH (Germany), ZF Friedrichshafen AG (Germany), Continental AG (Germany), Aisin Seiki Co, Ltd. (Japan), Knorr-Bremse AG (Germany), and Brembo S.p.A (Italy), ADVICS Co., Ltd. (Japan). These companies have strong distribution networks at a global level and offer an extensive product range. They have adopted strategies of new product development, acquisition, and contracts & partnerships to sustain their market position.

Scope of the report

Report Metric

Details

Market size available for years

2019–2026

Base year considered

2020

Forecast period

2021–2026

Forecast units

Value (USD Million) and Volume (‘000 Units)

Segments covered

By brake type, vehicle type, technology, actuation, off-highway brake type, off-highway brake system market by application, and region

Geographies covered

Asia Pacific, North America, Europe, and Rest of the World

Companies covered

Robert Bosch GmbH (Germany), ZF Friedrichshafen AG (Germany), Continental AG (Germany), Aisin Seiki Co, Ltd. (Japan), Knorr-Bremse AG (Germany), and Brembo S.p,A (Italy), Hitachi Astemo Ltd. (Japan), Mando Corporation (South Korea), Haldex AB (Sweden).
A total of 23 major players covered

This research report categorizes the brake system market based on brake type, vehicle type, technology, actuation, off-highway brake type, off-highway brake system market by application, and region.

Based on Brake Type, the market has been segmented as follows:

  • Disc
  • Drum

Based on Technology, the market has been segmented as follows:

  • Antilock Braking Systems (ABS)
  • Electronic Stability Control (ESC)
  • Traction Stability Control (TCS)
  • Electronic Brakeforce Distribution (EBD)

Based on Vehicle Type, the market has been segmented as follows:

  • Passenger Car
  • Light-commercial Vehicles (LCV)
  • Truck
  • Bus

Based on Actuation, the market has been segmented as follows:

  • Hydraulic
  • Pneumatic

Based on Off-highway Brake Type, the market has been segmented as follows:

  • Hydraulic Wet Brake
  • Dynamic Brake
  • Hydrostatic Brake
  • Other

Based on Off-highway Application, the market has been segmented as follows:

  • Construction Equipment
  • Mining Equipment
  • Agricultural Tractors

Based on region, the market has been segmented as follows:

  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • France
    • Germany
    • Italy
    • Spain
    • UK
    • Rest of Europe
  • Rest of the World
    • Brazil
    • Russia
    • Turkey
    • Rest of RoW

Recent Developments

  • In July 2019, Continental and Knorr-Bremse entered in partnership towards highly automated commercial vehicle driving for automated platooning (i.e., driving in a column). The cooperation partners show with this Platooning Demonstrator what driving functions they can develop, jointly with the vehicle manufacturers, for automated driving. This includes the formation of platoons, driving together, the emergency braking function, exiting by individual vehicles, and safe splitting up of the entire platoon.
  • In March 2020, ZF launched an industry-first Front Electric Park Brake, extending the range of Electric Park Brake (EPB) systems to a wider range of vehicles. With this solution, car manufacturers can now equip smaller vehicles with an advanced braking system and design their interior without the classic handbrake lever or park brake pedal.
  • In November 2020, TRW (ZF’s aftermarket brand) product portfolio for the independent aftermarket was further expanded in the two-piece brake disc segment. These brake discs are now also available for various Mercedes-Benz C- and E-Class models. Additional references for S-Class and GLC models of the Stuttgart premium manufacturer will follow in mid-2021.
  • In June 2018, Akebono Brake Industry Co., Ltd. developed the world's first "new construction brake caliper." The new brake caliper is based on the construction of the existing product, the AD-Type disc brake, and has been modified extensively to meet specific requirements for automobiles that use electric power sources and to be friendlier to the global environment.
  • In March 2021, Brembo introduced its new Brembo Sport | T3 brake disc. ​The new Brembo Sport | T3 disc is a direct replacement for original equipment discs and has two easily recognizable elements that distinguish it from the previous version - the use of Type3 slotting and the Brembo logo engraved on the braking surface. These new technologies and design features are a first for a road disc.

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 20)
    1.1 OBJECTIVES OF THE STUDY
    1.2 MARKET DEFINITION
           1.2.1 INCLUSIONS & EXCLUSIONS
    1.3 MARKET SCOPE
           FIGURE 1 BRAKE SYSTEM MARKET: MARKET SEGMENTATION
           FIGURE 2 BRAKE SYSTEM MARKET: BY REGION
    1.4 SUMMARY OF CHANGES

2 RESEARCH METHODOLOGY (Page No. - 24)
    2.1 RESEARCH DATA
           FIGURE 3 RESEARCH DESIGN
           FIGURE 4 RESEARCH METHODOLOGY MODEL
           2.1.1 SECONDARY DATA
                    2.1.1.1 List of key secondary sources
                    2.1.1.2 Key data from secondary sources
           2.1.2 PRIMARY DATA
                    FIGURE 5 BREAKDOWN OF PRIMARY INTERVIEWS: BY STAKEHOLDER, DESIGNATION, & REGION
                    2.1.2.1 List of primary participants
    2.2 MARKET ESTIMATION METHODOLOGY
           FIGURE 6 RESEARCH METHODOLOGY: HYPOTHESIS BUILDING
           2.2.1 BOTTOM-UP APPROACH
                    FIGURE 7 BRAKE SYSTEM MARKET SIZE: BOTTOM-UP APPROACH (ON- & OFF-HIGHWAY AND REGION)
           2.2.2 TOP-DOWN APPROACH
                    FIGURE 8 BRAKE SYSTEM MARKET SIZE: TOP-DOWN APPROACH (BY ACTUATION)
    2.3 DATA TRIANGULATION
           FIGURE 9 DATA TRIANGULATION METHODOLOGY
    2.4 RESEARCH ASSUMPTIONS
           2.4.1 GLOBAL ASSUMPTIONS
           2.4.2 MARKET ASSUMPTIONS
    2.5 RESEARCH LIMITATIONS

3 EXECUTIVE SUMMARY (Page No. - 37)
    3.1 PRE & POST COVID-19 SCENARIO
           FIGURE 10 PRE- & POST-COVID-19 SCENARIO: BRAKE SYSTEM MARKET, 2019-2026 (USD MILLION)
           TABLE 1 BRAKE SYSTEM MARKET: PRE- VS. POST-COVID-19 SCENARIO, 2019–2026 (USD MILLION)
    3.2 REPORT SUMMARY
           FIGURE 11 BRAKE SYSTEM MARKET: MARKET OUTLOOK
           FIGURE 12 BRAKE SYSTEM MARKET, BY REGION, 2021 VS. 2026 (USD MILLION)

4 PREMIUM INSIGHTS (Page No. - 42)
    4.1 ATTRACTIVE OPPORTUNITIES IN BRAKE SYSTEM MARKET
           FIGURE 13 STRINGENT SAFETY STANDARDS AND POPULARITY OF DISC BRAKES TO DRIVE THE MARKET
    4.2 BRAKE SYSTEM MARKET, BY REGION
           FIGURE 14 ASIA PACIFIC TO DOMINATE MARKET DURING FORECAST PERIOD
    4.3 BRAKE SYSTEM MARKET, BY TECHNOLOGY
           FIGURE 15 ABS SEGMENT TO HOLD LARGEST MARKET SHARE IN 2021
    4.4 BRAKE SYSTEM MARKET, BY VEHICLE TYPE
           FIGURE 16 PASSENGER CAR SEGMENT TO LEAD BRAKE SYSTEM MARKET BY 2026
    4.5 BRAKE SYSTEM MARKET, BY BRAKE TYPE
           FIGURE 17 DISC BRAKE TO BE FASTEST GROWING BRAKE TYPE DURING FORECAST PERIOD
    4.6 OFF-HIGHWAY BRAKE SYSTEM MARKET, BY APPLICATION
           FIGURE 18 AGRICULTURAL TRACTORS EXPECTED TO WITNESS FASTEST GROWTH DURING FORECAST PERIOD
    4.7 OFF-HIGHWAY BRAKE SYSTEM MARKET, BY TYPE
           FIGURE 19 HYDRAULIC WET BRAKE TO CONTRIBUTE TO LARGEST SHARE IN OFF-HIGHWAY BRAKE SYSTEM DURING FORECAST PERIOD
    4.8 BRAKE SYSTEM MARKET, BY ACTUATION
           FIGURE 20 HYDRAULIC BRAKE SEGMENT TO HAVE HIGHER CAGR DURING FORECAST PERIOD

5 MARKET OVERVIEW (Page No. - 47)
    5.1 INTRODUCTION
    5.2 MARKET DYNAMICS
                    FIGURE 21 BRAKE SYSTEM MARKET: MARKET DYNAMICS
           5.2.1 DRIVERS
                    5.2.1.1 Stringent automotive active safety regulations
                               5.2.1.1.1 Stopping distance for light- and heavy-duty vehicles
                                            FIGURE 22 COMPARISON OF STOPPING DISTANCES AT 65 MPH FOR PASSENGER CAR AND TRUCK IN US
                                            FIGURE 23 TOTAL STOPPING DISTANCES FOR PASSENGER CAR AND TRUCK
                               5.2.1.1.2 Enhanced vehicle safety with ABS and EBD
                                            FIGURE 24 EFFECT OF EBD
                    5.2.1.2 Integration of ACC in electronic braking systems
                                            FIGURE 25 ANALYSIS OF ELECTRONIC BRAKING SYSTEMS FOR DIFFERENT VEHICLE CLASS
                    5.2.1.3 Impact of NCAP on electronic brake systems
                               TABLE 2 LOCAL NEW CAR ASSESSMENT PROGRAMS (NCAP)
                               TABLE 3 FACTORS & WEIGHTAGE FOR EURO NCAP RATING
           5.2.2 RESTRAINTS
                    5.2.2.1 High development and maintenance costs
                               TABLE 4 ABS CONTROL MODULE REPAIR COSTS (USD)
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Brake-by-wire systems
                               FIGURE 26 BRAKE-BY-WIRE MARKET, 2020 VS. 2025 (USD MILLION)
                    5.2.3.2 Regenerative braking to create lucrative growth in EV ecosystem
                               FIGURE 27 ELECTRIC VEHICLE SALES, 2021 VS 2026 (‘000 UNITS)
           5.2.4 CHALLENGES
                    5.2.4.1 Malfunctioning of electronic braking systems
                    5.2.4.2 Air brake freeze-ups
           5.2.5 IMPACT OF COVID-19 ON BRAKE SYSTEM MARKET
    5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMER’S BUSINESS
           FIGURE 28 REVENUE SHIFT FOR BRAKE SYSTEM MARKET
    5.4 BRAKE SYSTEM MARKET, SCENARIOS (2021–2026)
           FIGURE 29 BRAKE SYSTEM MARKET: COVID-19 SCENARIOS ANALYSIS
           5.4.1 MOST LIKELY/REALISTIC SCENARIO
                    TABLE 5 BRAKE SYSTEM MARKET, (REALISTIC SCENARIO), BY REGION, 2019–2026 (USD MILLION)
           5.4.2 HIGH COVID-19 IMPACT SCENARIO
                    TABLE 6 BRAKE SYSTEM MARKET (HIGH COVID-19 IMPACT SCENARIO), BY REGION, 2019–2026 (USD MILLION)
           5.4.3 LOW COVID-19 IMPACT SCENARIO
                    TABLE 7 BRAKE SYSTEM MARKET (LOW COVID-19 IMPACT SCENARIO), BY REGION, 2019–2026 (USD MILLION)
    5.5 ECOSYSTEM/MARKET MAP
           TABLE 8 BRAKE SYSTEM MARKET: ECOSYSTEM
    5.6 TECHNOLOGY ANALYSIS
    5.7 CASE STUDY ANALYSIS
           5.7.1 CASE STUDY 1
           5.7.2 CASE STUDY 2
    5.8 PATENT ANALYSIS
    5.9 AVERAGE SELLING PRICE ANALYSIS, 2021-E
           TABLE 9 AVERAGE SELLING PRICE, BY BRAKE TYPE
           TABLE 10 AVERAGE SELLING PRICE, BY VEHICLE TYPE
           TABLE 11 AVERAGE SELLING PRICE, BY TECHNOLOGY
    5.10 VALUE CHAIN ANALYSIS
           FIGURE 30 VALUE CHAIN ANALYSIS: BRAKE SYSTEM MARKET
    5.11 TRADE ANALYSIS
           TABLE 12 TRADE ANALYSIS, VEHICLE PARTS; BRAKES, SERVO-BRAKES, AND PARTS THEREOF
    5.12 TARIFF AND REGULATORY LANDSCAPE
           5.12.1 VEHICLE SAFETY STANDARDS, BY REGION
                     TABLE 13 VEHICLE SAFETY STANDARDS, BY REGION
           5.12.2 US: FEDERAL MOTOR SAFETY STANDARDS FOR BRAKE SYSTEM PARTS
                     TABLE 14 US: FEDERAL MOTOR VEHICLE SAFETY STANDARDS
    5.13 PORTER’S FIVE FORCES ANALYSIS
           FIGURE 31 PORTER’S FIVE FORCES ANALYSIS
           5.13.1 THREAT OF NEW ENTRANTS
           5.13.2 THREAT OF SUBSTITUTES
           5.13.3 BARGAINING POWER OF SUPPLIERS
           5.13.4 BARGAINING POWER OF BUYERS
           5.13.5 INTENSITY OF COMPETITIVE RIVALRY

6 BRAKE SYSTEM MARKET, BY BRAKE TYPE (Page No. - 74)
    6.1 INTRODUCTION
           6.1.1 RESEARCH METHODOLOGY
           6.1.2 ASSUMPTIONS/LIMITATIONS
           6.1.3 INDUSTRY INSIGHTS
                    FIGURE 32 BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2021 VS. 2026 (USD MILLION)
                    TABLE 15 BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2019–2026 (‘000 UNITS)
                    TABLE 16 BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2019–2026 (USD MILLION)
    6.2 DISC BRAKE
           6.2.1 ADVANTAGES LIKE BETTER HEAT DISSIPATION & SELF-ADJUSTING FRICTION MATERIAL TO DRIVE DEMAND
                    TABLE 17 DISC BRAKE MARKET, BY REGION, 2019–2026 (‘000 UNITS)
                    TABLE 18 DISC BRAKE SYSTEM MARKET, BY REGION, 2019–2026 (USD MILLION)
    6.3 DRUM BRAKE
           6.3.1 COST-SENSITIVE NATURE OF EMERGING MARKETS EXPECTED TO DRIVE DEMAND
                    TABLE 19 DRUM BRAKE SYSTEM MARKET, BY REGION, 2019–2026 (‘000 UNITS)
                    TABLE 20 DRUM BRAKE SYSTEM MARKET, BY REGION, 2019–2026 (USD MILLION)

7 BRAKE SYSTEM MARKET, BY TECHNOLOGY (Page No. - 79)
    7.1 INTRODUCTION
           7.1.1 RESEARCH METHODOLOGY
           7.1.2 ASSUMPTIONS/LIMITATIONS
           7.1.3 INDUSTRY INSIGHTS
                    FIGURE 33 BRAKE SYSTEM MARKET, BY TECHNOLOGY, 2021 VS. 2026 (USD MILLION)
                    TABLE 21 BRAKE SYSTEM MARKET, BY TECHNOLOGY, 2019–2026 (‘000 UNITS)
                    TABLE 22 BRAKE SYSTEM MARKET, BY TECHNOLOGY, 2019–2026 (USD MILLION)
    7.2 ANTI-LOCK BRAKE SYSTEM (ABS)
           7.2.1 REGULATIONS TO MANDATE ABS EXPECTED TO DRIVE THE SEGMENT
                    TABLE 23 ANTILOCK BRAKING SYSTEM MARKET, BY REGION, 2019–2026 (‘000 UNITS)
                    TABLE 24 ANTILOCK BRAKING SYSTEM MARKET, BY REGION, 2019–2026 (USD MILLION)
    7.3 ELECTRONIC STABILITY CONTROL (ESC)
           7.3.1 REDUCTION OF FATALITIES AND TECHNICAL BENEFITS EXPECTED TO DRIVE THE SEGMENT
                    TABLE 25 ELECTRONIC STABILITY CONTROL MARKET, BY REGION, 2019–2026 (‘000 UNITS)
                    TABLE 26 ELECTRONIC STABILITY CONTROL MARKET, BY REGION, 2019–2026 (USD MILLION)
    7.4 TRACTION CONTROL SYSTEM (TCS)
           7.4.1 BETTER TRACTION CONTROL AND LIMITED WHEEL SLIPPAGE EXPECTED TO DRIVE THE SEGMENT
                    TABLE 27 TRACTION CONTROL SYSTEM MARKET, BY REGION, 2019–2026 (‘000 UNITS)
                    TABLE 28 TRACTION CONTROL SYSTEM MARKET, BY REGION, 2019–2026 (USD MILLION)
    7.5 ELECTRONIC BRAKE FORCE DISTRIBUTION (EBD)
           7.5.1 STRINGENCY IN SAFETY REGULATIONS EXPECTED TO DRIVE THE SEGMENT
                    TABLE 29 ELECTRONIC BRAKE FORCE DISTRIBUTION MARKET, BY REGION, 2019–2026 (‘000 UNITS)
                    TABLE 30 ELECTRONIC BRAKE FORCE DISTRIBUTION MARKET, BY REGION, 2019–2026 (USD MILLION)

8 BRAKE SYSTEM MARKET, BY VEHICLE TYPE (Page No. - 86)
    8.1 INTRODUCTION
           8.1.1 RESEARCH METHODOLOGY
           8.1.2 ASSUMPTIONS/LIMITATIONS
           8.1.3 INDUSTRY INSIGHTS
                    FIGURE 34 BRAKE SYSTEM MARKET, BY VEHICLE TYPE, 2021 VS. 2026 (USD MILLION)
                        TABLE 31 BRAKE SYSTEM MARKET, BY VEHICLE TYPE, 2019–2026 (‘000 UNITS)
                        TABLE 32 BRAKE SYSTEM MARKET, BY VEHICLE TYPE, 2019–2026 (USD MILLION)
    8.2 PASSENGER CAR
           8.2.1 STRINGENT SAFETY STANDARDS EXPECTED TO DRIVE THE SEGMENT
                        TABLE 33 PASSENGER CAR BRAKE SYSTEM MARKET, BY REGION, 2019–2026 (‘000 UNITS)
                        TABLE 34 PASSENGER CAR BRAKE SYSTEM MARKET, BY REGION, 2019–2026 (USD MILLION)
    8.3 LIGHT COMMERCIAL VEHICLE (LCV)
           8.3.1 GROWING DEMAND FOR ADVANCED BRAKING SYSTEMS EXPECTED TO DRIVE THE SEGMENT
                        TABLE 35 LIGHT COMMERCIAL VEHICLE BRAKE SYSTEM MARKET, BY REGION, 2019–2026 (‘000 UNITS)
                        TABLE 36 LIGHT COMMERCIAL VEHICLE BRAKE SYSTEM MARKET, BY REGION, 2019–2026 (USD MILLION)
    8.4 TRUCK
           8.4.1 INTRODUCTION OF ELECTRONIC BRAKE SYSTEMS EXPECTED TO DRIVE THE SEGMENT
                        TABLE 37 TRUCK BRAKE SYSTEM MARKET, BY REGION, 2019–2026 (‘000 UNITS)
                        TABLE 38 TRUCK BRAKE SYSTEM MARKET, BY REGION, 2019–2026 (USD MILLION)
    8.5 BUS
           8.5.1 ADOPTION OF EFFICIENT BRAKE SYSTEMS EXPECTED TO DRIVE THE SEGMENT
                        TABLE 39 BUS BRAKE SYSTEM MARKET, BY REGION, 2019–2026 (‘000 UNITS)
                        TABLE 40 BUS BRAKE SYSTEM MARKET, BY REGION, 2019–2026 (USD MILLION)

9 BRAKE SYSTEM MARKET, BY ACTUATION (Page No. - 94)
    9.1 INTRODUCTION
           9.1.1 RESEARCH METHODOLOGY
           9.1.2 ASSUMPTIONS/LIMITATIONS
           9.1.3 INDUSTRY INSIGHTS
                    FIGURE 35 BRAKE SYSTEM MARKET, BY ACTUATION, 2021 VS. 2026 (USD MILLION)
                    TABLE 41 BRAKE SYSTEM MARKET, BY ACTUATION, 2019–2026 (‘000 UNITS)
                    TABLE 42 BRAKE SYSTEM MARKET, BY ACTUATION, 2019–2026 (USD MILLION)
    9.2 HYDRAULIC BRAKE
           9.2.1 LIGHT CONSTRUCTION AND LOW OVERALL WEIGHT TO DRIVE DEMAND
                    TABLE 43 HYDRAULIC BRAKE SYSTEM MARKET, BY REGION, 2019–2026 (‘000 UNITS)
                    TABLE 44 HYDRAULIC BRAKE SYSTEM MARKET, BY REGION, 2019–2026 (USD MILLION)
    9.3 PNEUMATIC BRAKE
           9.3.1 SAFETY REGULATIONS FOR HEAVY COMMERCIAL VEHICLES TO DRIVE DEMAND
                        TABLE 45 PNEUMATIC BRAKE SYSTEM MARKET, BY REGION, 2019–2026 (‘000 UNITS)
                        TABLE 46 PNEUMATIC BRAKE SYSTEM MARKET, BY REGION, 2019–2026 (USD MILLION)

10 OFF-HIGHWAY BRAKE SYSTEM MARKET, BY APPLICATION (Page No. - 99)
     10.1 INTRODUCTION
             10.1.1 RESEARCH METHODOLOGY
             10.1.2 ASSUMPTIONS/LIMITATIONS
             10.1.3 INDUSTRY INSIGHTS
                        FIGURE 36 OFF-HIGHWAY BRAKE SYSTEM MARKET, BY APPLICATION, 2021 VS. 2026 (USD MILLION)
                        TABLE 47 OFF-HIGHWAY BRAKE SYSTEM MARKET, BY APPLICATION, 2019–2026 (‘000 UNITS)
                        TABLE 48 OFF-HIGHWAY BRAKE SYSTEM MARKET, BY APPLICATION, 2019–2026 (USD MILLION)
     10.2 AGRICULTURAL TRACTOR
             TABLE 49 AGRICULTURAL TRACTOR BRAKE SYSTEM MARKET, BY REGION, 2019–2026 (‘000 UNITS)
             TABLE 50 AGRICULTURAL TRACTOR BRAKE SYSTEM MARKET, BY REGION, 2019–2026 (USD MILLION)
     10.3 CONSTRUCTION EQUIPMENT
             TABLE 51 CONSTRUCTION EQUIPMENT BRAKE SYSTEM MARKET, BY REGION, 2019–2026 (‘000 UNITS)
             TABLE 52 CONSTRUCTION EQUIPMENT BRAKE SYSTEM MARKET, BY REGION, 2019–2026 (USD MILLION)
     10.4 MINING EQUIPMENT
             TABLE 53 MINING EQUIPMENT BRAKE SYSTEM MARKET, BY REGION, 2019–2026 (‘000 UNITS)
             TABLE 54 MINING EQUIPMENT BRAKE SYSTEM MARKET, BY REGION, 2019–2026 (USD MILLION)

11 OFF-HIGHWAY BRAKE SYSTEM MARKET, BY BRAKE TYPE (Page No. - 106)
     11.1 INTRODUCTION
             11.1.1 RESEARCH METHODOLOGY
             11.1.2 ASSUMPTIONS/LIMITATIONS
             11.1.3 INDUSTRY INSIGHTS
                        FIGURE 37 OFF-BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2021 VS. 2026 (USD MILLION)
                        TABLE 55 OFF-HIGHWAY VEHICLES BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2019–2026 (‘000 UNITS)
                        TABLE 56 OFF-HIGHWAY VEHICLES BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2019–2026 (USD MILLION)
     11.2 HYDROSTATIC BRAKE
             11.2.1 INCREASING DEPLOYMENT OF MINING EQUIPMENT WITH HYDROSTATIC BRAKING EXPECTED TO DRIVE THE SEGMENT
                        TABLE 57 OFF-HIGHWAY VEHICLES HYDROSTATIC BRAKE MARKET, BY REGION, 2019–2026 (‘000 UNITS)
                        TABLE 58 OFF-HIGHWAY VEHICLES HYDROSTATIC BRAKE MARKET, BY REGION, 2019–2026 (USD MILLION)
     11.3 HYDRAULIC WET BRAKE
             11.3.1 SAFETY REGULATIONS FOR HEAVY COMMERCIAL VEHICLES EXPECTED TO DRIVE THE SEGMENT
                        TABLE 59 OFF-HIGHWAY VEHICLES HYDRAULIC WET BRAKE MARKET, BY REGION, 2019–2026 (‘000 UNITS)
                        TABLE 60 OFF-HIGHWAY VEHICLES HYDRAULIC WET BRAKE MARKET, BY REGION, 2019–2026 (USD MILLION)
     11.4 DYNAMIC BRAKE
             11.4.1 STRINGENCY IN SAFETY STANDARDS EXPECTED TO DRIVE THE SEGMENT
                        TABLE 61 OFF-HIGHWAY VEHICLES DYNAMIC BRAKE MARKET, BY REGION, 2019–2026 (‘000 UNITS)
                        TABLE 62 OFF-HIGHWAY VEHICLES DYNAMIC BRAKE MARKET, BY REGION, 2019–2026 (USD MILLION)
     11.5 OTHERS
             TABLE 63 OTHERS OFF-HIGHWAY VEHICLES BRAKE MARKET, BY REGION, 2019–2026 (‘000 UNITS)
             TABLE 64 OTHERS OFF-HIGHWAY VEHICLES BRAKE MARKET, BY REGION, 2019–2026 (USD MILLION)

12 BRAKE SYSTEM MARKET, BY REGION (Page No. - 114)
     12.1 INTRODUCTION
             12.1.1 RESEARCH METHODOLOGY
             12.1.2 ASSUMPTIONS/LIMITATIONS
             12.1.3 INDUSTRY INSIGHTS
                        FIGURE 38 BRAKE SYSTEM MARKET, BY REGION, 2021 VS. 2026 (USD MILLION)
                        TABLE 65 BRAKE SYSTEM MARKET, BY REGION, 2019–2026 (‘000 UNITS)
                        TABLE 66 BRAKE SYSTEM MARKET, BY REGION, 2019–2026 (USD MILLION)
     12.2 ASIA PACIFIC
             FIGURE 39 ASIA PACIFIC BRAKE SYSTEM MARKET SNAPSHOT
             TABLE 67 ASIA PACIFIC: BRAKE SYSTEM MARKET, BY COUNTRY, 2019–2026 (‘000 UNITS)
             TABLE 68 ASIA PACIFIC: BRAKE SYSTEM MARKET, BY COUNTRY, 2019–2026 (USD MILLION)
             12.2.1 CHINA
                        12.2.1.1 Growing vehicle production to drive the market
                                     TABLE 69 CHINA: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2019–2026 (‘000 UNITS)
                                     TABLE 70 CHINA: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2019–2026 (USD MILLION)
             12.2.2 INDIA
                        12.2.2.1 Stringency in safety standards to drive the market
                                     TABLE 71 INDIA: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2019–2026 (‘000 UNITS)
                                     TABLE 72 INDIA: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2019–2026 (USD MILLION)
             12.2.3 JAPAN
                        12.2.3.1 Rising penetration of automatic braking systems to drive the market
                                     TABLE 73 JAPAN: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2019–2026 (‘000 UNITS)
                                     TABLE 74 JAPAN: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2019–2026 (USD MILLION)
             12.2.4 SOUTH KOREA
                        12.2.4.1 Government mandates for implementation of advanced brake systems to drive the market
                                     TABLE 75 SOUTH KOREA: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2019–2026 (‘000 UNITS)
                                     TABLE 76 SOUTH KOREA: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2019–2026 (USD MILLION)
             12.2.5 REST OF ASIA PACIFIC
                        TABLE 77 REST OF ASIA PACIFIC: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2019–2026 (‘000 UNITS)
                        TABLE 78 REST OF ASIA PACIFIC: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2019–2026 (USD MILLION)
     12.3 EUROPE
             FIGURE 40 EUROPE: BRAKE SYSTEM MARKET, BY COUNTRY, 2021 VS. 2026
             TABLE 79 EUROPE: BRAKE SYSTEM MARKET, BY COUNTRY, 2019–2026 (‘000 UNITS)
             TABLE 80 EUROPE: BRAKE SYSTEM MARKET, BY COUNTRY, 2019–2026 (USD MILLION)
             12.3.1 GERMANY
                        12.3.1.1 Implementation of advanced emergency braking systems as a standard fitment to drive the market
                                     TABLE 81 GERMANY: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2019–2026 (‘000 UNITS)
                                     TABLE 82 GERMANY: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2019–2026 (USD MILLION)
             12.3.2 FRANCE
                        12.3.2.1 Increasing penetration of disc brakes to drive the market
                                     TABLE 83 FRANCE: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2019–2026 (‘000 UNITS)
                                     TABLE 84 FRANCE: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2019–2026 (USD MILLION)
             12.3.3 SPAIN
                        12.3.3.1 Implementation of AEB in passenger cars to drive the market
                                     TABLE 85 SPAIN: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2019–2026 (‘000 UNITS)
                                     TABLE 86 SPAIN: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2019–2026 (USD MILLION)
             12.3.4 ITALY
                        12.3.4.1 Regulations mandating AEB to drive the market
                                     TABLE 87 ITALY: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2019–2026 (‘000 UNITS)
                                     TABLE 88 ITALY: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2019–2026 (USD MILLION)
             12.3.5 UK
                        12.3.5.1 Increasing adoption of ABS and ESC to drive the market
                                     TABLE 89 UK: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2019–2026 (‘000 UNITS)
                                     TABLE 90 UK: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2019–2026 (USD MILLION)
             12.3.6 REST OF EUROPE
                        TABLE 91 REST OF EUROPE: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2019–2026 (‘000 UNITS)
                        TABLE 92 REST OF EUROPE: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2019–2026 (USD MILLION)
     12.4 NORTH AMERICA
             FIGURE 41 NORTH AMERICA: BRAKE SYSTEM MARKET SNAPSHOT
             TABLE 93 NORTH AMERICA: BRAKE SYSTEM MARKET, BY COUNTRY, 2019–2026 (‘000 UNITS)
             TABLE 94 NORTH AMERICA: BRAKE SYSTEM MARKET, BY COUNTRY, 2019–2026 (USD MILLION)
             12.4.1 US
                        12.4.1.1 Regulations to reduce stopping distance in commercial vehicles to drive the market
                                     TABLE 95 US: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2019–2026 (‘000 UNITS)
                                     TABLE 96 US: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2019–2026 (USD MILLION)
             12.4.2 CANADA
                        12.4.2.1 Mandatory features such as ABS & ESC to drive the market
                                     TABLE 97 CANADA: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2019–2026 (‘000 UNITS)
                                     TABLE 98 CANADA: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2019–2026 (USD MILLION)
             12.4.3 MEXICO
                        12.4.3.1 Free trade agreements promoting domestic production of brake system components to drive the market
                                     TABLE 99 MEXICO: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2019–2026 (‘000 UNITS)
                                     TABLE 100 MEXICO: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2019–2026 (USD MILLION)
     12.5 REST OF THE WORLD (ROW)
             FIGURE 42 ROW: BRAKE SYSTEM MARKET, 2021 VS. 2026 (USD MILLION)
             TABLE 101 REST OF THE WORLD: BRAKE SYSTEM MARKET, BY COUNTRY, 2019–2026 (‘000 UNITS)
             TABLE 102 REST OF THE WORLD: BRAKE SYSTEM MARKET, BY COUNTRY, 2019–2026 (USD MILLION)
             12.5.1 BRAZIL
                        12.5.1.1 Setting up of local plants for brake system components to drive the market
                                     TABLE 103 BRAZIL: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2019–2026 (‘000 UNITS)
                                     TABLE 104 BRAZIL: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2019–2026 (USD MILLION)
             12.5.2 TURKEY
                        12.5.2.1 Lower manufacturing & labor costs to drive the market
                                     TABLE 105 TURKEY: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2019–2026 (‘000 UNITS)
                                     TABLE 106 TURKEY: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2019–2026 (USD MILLION)
             12.5.3 RUSSIA
                        12.5.3.1 Increasing adoption of disc brakes in LCVs to drive the market
                                     TABLE 107 RUSSIA: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2019–2026 (‘000 UNITS)
                                     TABLE 108 RUSSIA: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2019–2026 (USD MILLION)
             12.5.4 REST OF ROW
                        TABLE 109 REST OF ROW: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2019–2026 (‘000 UNITS)
                        TABLE 110 REST OF ROW: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2019–2026 (USD MILLION)

13 COMPETITIVE LANDSCAPE (Page No. - 139)
     13.1 OVERVIEW
     13.2 KEY PLAYER STRATEGIES/RIGHT TO WIN
             FIGURE 43 COMPANIES ADOPTED NEW PRODUCT DEVELOPMENT STRATEGY AS THE KEY GROWTH STRATEGY, 2019–2021
     13.3 REVENUE ANALYSIS OF TOP FIVE PLAYERS, 2018-2020
     13.4 MARKET SHARE ANALYSIS
             TABLE 111 MARKET SHARE, 2020
             FIGURE 44 BRAKE SYSTEM MARKET SHARE ANALYSIS, 2020
     13.5 COMPETITIVE LEADERSHIP MAPPING
             13.5.1 STAR
             13.5.2 EMERGING LEADER
             13.5.3 PERVASIVE
             13.5.4 PARTICIPANT
                        FIGURE 45 COMPETITIVE LEADERSHIP MAPPING: BRAKE SYSTEM MANUFACTURERS
                        TABLE 112 BRAKE SYSTEM MARKET: COMPANY FOOTPRINT
                        TABLE 113 COMPANY TECHNOLOGY FOOTPRINT
                        TABLE 114 COMPANY REGION FOOTPRINT (19 COMPANIES)
     13.6 COMPETITIVE LEADERSHIP MAPPING: OFF-HIGHWAY BRAKE SYSTEM MANUFACTURERS
             13.6.1 STAR
             13.6.2 EMERGING LEADER
             13.6.3 PERVASIVE
             13.6.4 PARTICIPANT
                        FIGURE 46 COMPETITIVE LEADERSHIP MAPPING: OFF-HIGHWAY BRAKE SYSTEM MANUFACTURERS
                        TABLE 115 OFF-HIGHWAY BRAKE SYSTEM MARKET: COMPANY FOOTPRINT
                        TABLE 116 COMPANY INDUSTRY FOOTPRINT (OFF-HIGHWAY) (12 COMPANIES)
                        TABLE 117 COMPANY REGION FOOTPRINT (OFF-HIGHWAY) (12 COMPANIES)
     13.7 COMPETITIVE SCENARIO
     13.8 NEW PRODUCT LAUNCHES
             TABLE 118 NEW PRODUCT DEVELOPMENT, 2019-2020
     13.9 AGREEMENTS, PARTNERSHIPS, COLLABORATIONS, & JOINT VENTURES
             TABLE 119 AGREEMENTS, PARTNERSHIPS, COLLABORATIONS, & JOINT VENTURES, 2019-2021

14 COMPANY PROFILES (Page No. - 156)
     14.1 KEY PLAYERS
(Business overview, Products offered, Recent Developments, MNM view)* 
             14.1.1 ROBERT BOSCH GMBH
                        TABLE 120 ROBERT BOSCH GMBH: BUSINESS OVERVIEW
                        FIGURE 47 ROBERT BOSCH GMBH: COMPANY SNAPSHOT
                        TABLE 121 ROBERT BOSCH GMBH: PRODUCT LAUNCHES
                        TABLE 122 ROBERT BOSCH GMBH: DEALS
             14.1.2 CONTINENTAL AG
                        TABLE 123 CONTINENTAL AG: BUSINESS OVERVIEW
                        FIGURE 48 CONTINENTAL AG: COMPANY SNAPSHOT
                        TABLE 124 CONTINENTAL AG: PRODUCT DEVELOPMENTS
                        TABLE 125 CONTINENTAL AG: DEALS
             14.1.3 ZF FRIEDRICHSHAFEN AG
                        TABLE 126 ZF FRIEDRICHSHAFEN AG: BUSINESS OVERVIEW
                        FIGURE 49 ZF FRIEDRICHSHAFEN AG: COMPANY SNAPSHOT
                        TABLE 127 ZF FRIEDRICHSHAFEN AG: PRODUCT LAUNCHES
                        TABLE 128 ZF FRIEDRICHSHAFEN AG: DEALS
             14.1.4 AKEBONO BRAKE INDUSTRY CO., LTD.
                        TABLE 129 AKEBONO BRAKE INDUSTRY CO., LTD.: BUSINESS OVERVIEW
                        FIGURE 50 AKEBONO BRAKE INDUSTRY CO., LTD.: COMPANY SNAPSHOT
                        TABLE 130 AKEBONO BRAKE INDUSTRY CO., LTD.: PRODUCT LAUNCHES
             14.1.5 BREMBO S.P.A
                        TABLE 131 BREMBO S.P.A: BUSINESS OVERVIEW
                        FIGURE 51 BREMBO S.P.A: COMPANY SNAPSHOT
                        TABLE 132 BREMBO S.P.A: PRODUCT LAUNCHES
                        TABLE 133 BREMBO S.P.A: DEALS
             14.1.6 AISIN SEIKI CO., LTD.
                        TABLE 134 AISIN SEIKI CO., LTD.: BUSINESS OVERVIEW
                        FIGURE 52 AISIN SEIKI CO., LTD.: COMPANY SNAPSHOT
             14.1.7 HITACHI ASTEMO LTD.
                        TABLE 135 HITACHI ASTEMO LTD.: BUSINESS OVERVIEW
                        FIGURE 53 HITACHI ASTEMO LTD.: COMPANY SNAPSHOT
                        TABLE 136 HITACHI ASTEMO LTD.: OTHERS
             14.1.8 KNORR-BREMSE AG
                        TABLE 137 KNORR-BREMSE AG: BUSINESS OVERVIEW
                        FIGURE 54 KNORR-BREMSE AG: COMPANY SNAPSHOT
             14.1.9 HALDEX AB
                        TABLE 138 HALDEX AB: BUSINESS OVERVIEW
                        FIGURE 55 HALDEX AB: COMPANY SNAPSHOT
                        TABLE 139 HALDEX AB: PRODUCT LAUNCHES
                        TABLE 140 HALDEX AB: DEALS
             14.1.10 MANDO CORPORATION
                        TABLE 141 MANDO CORPORATION: BUSINESS OVERVIEW
                        FIGURE 56 MANDO CORP: COMPANY SNAPSHOT
     14.2 OTHER KEY PLAYERS
             14.2.1 ASIA PACIFIC
                        14.2.1.1 Denso Corporation
                                     TABLE 142 DENSO CORPORATION: BUSINESS OVERVIEW
                        14.2.1.2 Hyundai Mobis
                                     TABLE 143 HYUNDAI MOBIS: BUSINESS OVERVIEW
                        14.2.1.3 Wuhan Youfin Auto Parts Co., Ltd.
                                     TABLE 144 WUHAN YOUFIN AUTO PARTS CO., LTD.: BUSINESS OVERVIEW
                        14.2.1.4 Advics Co., Ltd.
                                     TABLE 145 ADVIS CO., LTD.: BUSINESS OVERVIEW
                        14.2.1.5 Wuhu Bethel Automotive Safety System Co., Ltd.
                                     TABLE 146 WUHU BETHEL AUTOMOTIVE SAFETY SYSTEM CO., LTD.: BUSINESS OVERVIEW
             14.2.2 EUROPE
                        14.2.2.1 Beringer
                                     TABLE 147 BERINGER: BUSINESS OVERVIEW
                        14.2.2.2 EBC Brakes
                                     TABLE 148 EBC BRAKES: BUSINESS OVERVIEW
                        14.2.2.3 NIFO SRL
                                     TABLE 149 NIFO SRL
             14.2.3 NORTH AMERICA
                        14.2.3.1 BWI Group
                                     TABLE 150 BWI GROUP: BUSINESS OVERVIEW
                        14.2.3.2 Meritor, Inc.
                                     TABLE 151 MERITOR, INC.: BUSINESS OVERVIEW
                        14.2.3.3 Muller Brakes America Inc.
                                     TABLE 152 MάLLER BRAKES AMERICA: BUSINESS OVERVIEW
                        14.2.3.4 Wagner Brake
                                     TABLE 153 WAGNER BRAKE: BUSINESS OVERVIEW
*Details on Business overview, Products offered, Recent Developments,  MNM view might not be captured in case of unlisted companies. 

15 RECOMMENDATIONS BY MARKETSANDMARKETS (Page No. - 201)
     15.1 ASIA PACIFIC IS A POTENTIAL MARKET FOR BRAKE SYSTEMS
     15.2 COMPANIES SHOULD FOCUS ON DISC BRAKES
     15.3 GROWING DEMAND FOR HYDRAULIC WET BRAKES IN AGRICULTURAL TRACTORS
     15.4 CONCLUSION

16 APPENDIX (Page No. - 203)
     16.1 CURRENCY & PRICING
             TABLE 154 CURRENCY EXCHANGE RATES (WRT PER USD)
     16.2 INSIGHTS OF INDUSTRY EXPERTS
     16.3 DISCUSSION GUIDE
     16.4 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
     16.5 AVAILABLE CUSTOMIZATIONS
             16.5.1 OFF-HIGHWAY BRAKE SYSTEM MARKET, BY BRAKE TYPE
                        16.5.1.1 Hydrostatic Brake
                        16.5.1.2 Hydraulic Wet Brake
                        16.5.1.3 Dynamic Brake
                        16.5.1.4 Others
             16.5.2 ON-HIGHWAY SYSTEM MARKET, BY VEHICLE TYPE & BRAKE TYPE
                        16.5.2.1 Disc Brake
                        16.5.2.2 Drum Brake
     16.6 RELATED REPORTS
     16.7 AUTHOR DETAILS

The study involved four major activities to estimate the current size of the brake system market. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with the industry experts across value chains through primary research. The bottom-up and top-down approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation processes were used to estimate the market size of various segments and subsegments.

Secondary Research

In the secondary research process, various secondary sources have been used to identify and collect information useful for an extensive commercial study of the brake system market. The secondary sources referred to in this research study include Organisation Internationale des Constructeurs d'Automobiles (OICA), MEMA Brake Manufacturers Council (BMC), Automotive Component Manufacturers Association of India (ACMA); corporate filings (such as annual reports, investor presentations, and financial statements); and trade, business, and automotive associations. Additionally, secondary research has been carried out to understand the average selling prices of disc and drum brake by vehicle type, historic sales of new vehicles, and vehicle parc. Secondary data has been collected and analyzed to arrive at the overall market size, which is further validated by primary research.

Primary Research

In the primary research process, various primary sources from both supply and demand sides were interviewed to obtain qualitative and quantitative information on the market. The primary sources from the supply side included industry experts such as CXOs, vice presidents, directors from business development, marketing, product development/innovation teams, and related key executives from various key companies. Various system integrators, industry associations, independent consultants/industry veterans, and key opinion leaders were also interviewed.

Primary interviews have been conducted to gather insights such as ICE vehicle and off-highway equipment sales forecast, disc & drum brake market penetration & forecast, future technology trends, and upcoming technologies in the brake system industry. Data triangulation was then done with the information gathered from secondary research. Stakeholders from demand as well as supply side have been interviewed to understand their views on the aforementioned points.

Primary interviews have been conducted with market experts from demand and supply side across four major regions, namely, North America, Europe, Asia Pacific, and the Rest of the World. Primary data has been collected through questionnaires, emails, and telephonic interviews. In the canvassing of primaries, we have strived to cover various departments within organizations, such as sales and operations, to provide a holistic viewpoint in our report.

After interacting with industry experts, we have also conducted brief sessions with highly experienced independent consultants to reinforce the findings from our primaries. This, along with the in-house subject matter experts’ opinions, has led us to the findings as described in the remainder of this report.

Brake System MarketSize, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

A detailed market estimation approach was followed to estimate and validate the value of the brake system market and other dependent submarkets, as mentioned below:

  • Key players in the brake system market were identified through secondary research, and their global market shares were determined through primary and secondary research.
  • The research methodology included study of annual and quarterly financial reports and regulatory filings of major market players (public) as well as interviews with industry experts for detailed market insights.
  • All industry-level penetration rates, percentage shares, splits, and breakdowns for the brake system were determined using secondary sources and verified through primary sources.
  • All key macro indicators affecting the revenue growth of the market segments and subsegments have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the validated and verified quantitative and qualitative data.
  • The gathered market data was consolidated and added with detailed inputs, analyzed, and presented in this report.
  • Qualitative aspects such as market drivers, restraints, opportunities, and challenges have been taken into consideration while calculating and forecasting the market size.

Brake System Market (On- & Off-Highway): Bottom-Up Approach

Brake System MarketSize, and Bottom-Up Approach

Data Triangulation

After arriving at the overall market size-using the market size estimation processes as explained above-the market was split into several segments and sub-segments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and sub segment, data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends.

Report Objectives

  • To define, describe, and forecast the brake system market, in terms of value
    (USD million), based on the following segments:
    • Brake type [Disc and Drum]
    • Brake Technology [(antilock braking system (ABS), traction control system (TCS), electronic stability control (ESC), and electronic brake-force distribution (EBD)]
    • Off-highway Application [agriculture tractor, construction equipment, and mining equipment]
    • Vehicle Type [passenger car, LCV, truck and bus]
    • Off-highway Brake Type [hydrostatic brake, hydraulic wet brake, dynamic brake, and others]
    • Actuation [pneumatic brake and hydraulic brake]
    • Region [North America, Europe, Asia Pacific, and the Rest of the World (RoW)]
  • To analyze the impact of COVID-19 on the brake system market (pre-COVID-19 vs. post-COVID-19)
  • To provide detailed information regarding major factors influencing the brake system market (drivers, restraints, opportunities, and challenges)
  • To track and analyze competitive developments such as joint ventures, mergers & acquisitions, new product developments, and expansions in the brake system market
  • To analyze the impact of COVID-19 as per the most likely, low-impact, and high-impact COVID-19 scenarios
  • To conduct:
    •  Case Study Analysis
    • Technology Analysis
  • To Analyze:
    • Value Chain Analysis
    • Trade Analysis
    • Market ecosystem analysis
    • Tariff and Regulatory Landscape Analysis
    • Porter’s Five Force Analysis
    •   Average Selling Price Analysis
  • To analyze the market share of key players in the brake system market, revenue analysis of top 5 players and competitive evaluation quadrant (on- & off-highway brake system manufacturers)

Available Customizations

With the given market data, MarketsandMarkets offers customizations in accordance with the company’s specific needs.

  • Off-highway Brake System Market, by Brake Type
    • Hydrostatic Brake
    • Hydraulic Wet Brake
    • Dynamic Brake
    • Others
  • On-highway System Market, by Vehicle Type & Brake Type
    • Disc Brake
    • Drum Brake

Note: Countries considered in Asia Pacific are: China, Japan, India, South Korea, and Rest of Asia Pacific; North America:  US, Canada, and Mexico; Europe:  Italy, UK, Germany, France, Spain, and rest of Europe; RoW: Brazil, Russia, Turkey and Rest of RoW

COVID-19

Get in-depth analysis of the COVID-19 impact on the Brake System Market

Benchmarking the rapid strategy shifts of the Top 100 companies in the Brake System Market

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