South Korea Automotive Brake System Market (2023-2028)

The study involved four major activities in estimating the current size of the automotive brake system market. Exhaustive secondary research was done to collect information on the market, peer, and parent markets. The next step was to validate these findings and assumptions and size them with industry experts across value chains through primary research. The bottom-up and top-down approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation processes were used to estimate the market size of 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 automotive 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 brakes by vehicle type, historic sales of new vehicles, and vehicle parc. Secondary data has been collected and analyzed to determine the overall market size, further validated by primary research.

Primary Research

In the primary research process, various primary sources from both the 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 automotive brake system industry. Data triangulation was then done with the information gathered from secondary research. Stakeholders from the demand and supply side have been interviewed to understand their views on the points mentioned above.

Primary interviews have been conducted with market experts from the demand and supply side across four major regions: North America, Europe, Asia Pacific, and the Rest of the World. Primary data has been collected through questionnaires, emails, and telephonic interviews. In canvassing 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 and the in-house subject matter experts’ opinions have led us to the findings described in the remainder of this report.

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 automotive brake system market and other dependent submarkets, as mentioned below: 

• Key players in the automotive brake system market were identified through secondary research, and their global market shares were determined through primary and secondary research. 
• The research methodology included studying annual and quarterly financial reports, regulatory filings of significant market players (public), and interviews with industry experts for detailed market insights. 
• All industry-level penetration rates, percentage shares, splits, and breakdowns for the automotive 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 considered while calculating and forecasting the market size.

AUTOMOTIVE BRAKE SYSTEM MARKET (ON- & OFF-HIGHWAY): BOTTOM-UP APPROACH

To know about the assumptions considered for the study, Request for Free Sample Report

AUTOMOTIVE BRAKE SYSTEM MARKET: TOP-DOWN APPROACH