The report "Brake Systems Market by Type (Disc & Drum), Electronic Brake System (ABS, TCS, ESC, & EBD), Off-Highway Vehicle (Construction & Agriculture), Vehicle Type (Passenger Car, Light & Heavy Commercial Vehicle), and Region - Global Forecast to 2021", is expected to grow from USD 22.8 billion in 2016 to USD 31.9 billion by 2021, at a CAGR of 6.9% during the forecast period. The market is driven by factors such as stringent government regulations for reducing stopping distance and regulations encouraging vehicles to use braking technologies to receive five-star ratings in the New Car Assessment Program (NCAP).

Browse 78 market data Tables and 66 Figures spread through 202 Pages and in-depth TOC on "Brake Systems Market by Type (Disc & Drum), Electronic Brake System (ABS, TCS, ESC, & EBD), Off-Highway Vehicle (Construction & Agriculture), Vehicle Type (Passenger Car, Light & Heavy Commercial Vehicle), and Region - Global Forecast to 2021"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/automotive-brake-system-market-1070.html

Disc brakes are expected to hold the largest market size in the brake system market during the forecast period

The automotive industry has witnessed rapid evolution over the past decade in terms of technology, and the major credit goes to the safety regulations imposed by the governments, especially for braking distance. The stopping distance mandate in North America and Europe has led to an increasing market penetration of disc brakes over drum brakes. Most of the passenger cars have disc brakes as a standard product but gradually commercial vehicles are also adapting this product for better safety. Alternatively, the market for drum brakes will continue to grow at a steady pace, given the predominant use of drum brakes in heavy commercial vehicles as well as economic passenger cars in cost sensitive automotive markets of China, Brazil, India, and Russia.

Traction Control System is projected to grow at the highest CAGR, by electronic brake technology during the forecast period

The Traction Control System (TCS) technology is projected to grow at the highest CAGR during the forecast period. The growth of TCS technology can be attributed to the mandatory requirement for Electronic Stability Control (ESC) systems in almost all passenger cars in the US and European Union. Vehicles with ESC must have Anti-lock Braking System (ABS) and TCS. All three electronic braking technologies use the same wheel sensors and offer enhanced braking performance. In order to support the growth of braking technologies, the governments are introducing various regulations to make these technologies mandatory in passenger cars in the coming years.

Asia Oceania is expected to be the largest market for brake systems followed by North America during the forecast period

Asia Oceania is estimated to dominate the global brake system market and is projected to grow at the highest CAGR during the forecast period. Asia Oceania is one of the largest vehicle producing regions in the world. As the demand for brake system is directly co related with vehicle production, Asia Oceania will be the largest market for brake systems. The high popularity of SUVs and Pickup trucks in North America has resulted in the region being a key market for brake systems. Additionally, majority of such vehicles have disk brakes installed in both front and rear, further increasing the overall cost of the brake system. Owing to the above reasons, North America is estimated to be the second largest Brake system market over the forecast period.

The brake system market is dominated by a few global players and comprises several regional players. Some of the key manufacturers operating in the market are Continental AG (Germany), Robert Bosch GmbH (Germany), ZF Friedrichshafen AG (Germany), Wabco Holdings, Inc. (U.S.), and Knorr-Bremse AG (Germany).

Don’t miss out on business opportunities in Brake Systems Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com