Brake System Market

Brake System Market worth $28.1 billion by 2027

According to a research report "Brake System Market by Type (Disc, Drum), Technology (ABS, ESC, TCS, EBD), On & Off-Highway Vehicle (Passenger Car, LCV, HCV, Construction-Mining, Tractor, ATV), OHV Brake (Hydraulic Wet, Hydrostatic, Dynamic), Actuation and Region - Global Forecast to 2027" published by MarketsandMarkets, the brake system market is projected to reach USD 28.1 billion by 2027 from an estimated USD 22.2 billion in 2022, at a CAGR of 4.8% during the forecast period.

Browse 275 market data Tables and 59 Figures spread through 271 Pages and in-depth TOC on "Brake System Market by Type (Disc, Drum), Technology (ABS, ESC, TCS, EBD), On & Off-Highway Vehicle (Passenger Car, LCV, HCV, Construction-Mining, Tractor, ATV), OHV Brake (Hydraulic Wet, Hydrostatic, Dynamic), Actuation and Region - Global Forecast to 2027"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/automotive-brake-system-market-1070.html

The brake system market growth is mainly driven by the regulations on stopping distance and safety standards in countries such as China, India, Brazil, European Union, the US, and Canada, among others. In addition, increased demand for luxury cars would boost the market for electronic brake systems and disc brakes. An increase in the implementation of disc brakes in heavy commercial vehicles, especially trucks, is another driving factor for the brakes industry.

Better performance and longer life of Disc brakes are contributing to their growth in market share

Disc brakes offer advantages such as better stopping, heat dissipation, self-adjustment as the friction material wears, and superior working in wet conditions. However, considering their higher cost than drum brakes, most light-duty vehicles are equipped with disc brakes only on their front axles. The North American and European countries have disc-disc combinations on many light-duty vehicles front and rear axles. Alternatively, owing to lower speed limits and leniency in stopping distance in Asia Pacific countries, the light-duty vehicles usually follow a disc-drum combination. Commercial vehicles are employed with all drum brakes globally. However, due to stringent vehicle safety guidelines, European commercial vehicles largely use disc brakes. The same disc brakes are projected to showcase promising growth in the coming years.

Anti-lock Brake Systems (ABS) would be the leading market over the forecast period

ABS prevents brake lockups, and wheel skidding and offers enhanced stopping power; most governments around the globe have mandated ABS for light-duty or heavy-duty vehicles or both. Also, according to the NHTSA, ABS is quite effective in non-fatal crashes, reducing the overall crash involvement rate by 6% in passenger cars and 8% in LCVs. Installing ABS is already a mandate in the US, Europe, Brazil, India, Japan, South Korea, and other countries. Almost every On-highway vehicle in North America and Europe is installed with an ABS. Alternatively, though the penetration of ABS in the Asia Pacific and other developing countries is lower, owing to the adoption of NCAP and upcoming mandates on the ABS installation, these regions would be the most potential markets for ABS suppliers.

The Asia Pacific would be the leading brakes market over the forecast period

The study scope covers China, Japan, India, South Korea, and the Rest of Asia Pacific countries under the Asia Pacific region. As China, India, Japan, and South Korea are among the top 5 leading global vehicle manufacturing countries, the Asian region is the leading automobile producer and is projected to retain its position in the coming years. Due to price sensitive nature of Asia Pacific automobile market, most passenger cars are equipped with drum-drum and disc-drum brake combination. However the market trend is changing due to increasing per capita income thus driving the increase in market share of SUVs and luxury cars like sedans. As SUVs and other sedans predominantly use disc-disc brake combinations, the market share of disc brakes is projected to increase in Asia Pacific. Further, the national governments in the region have adopted their own New Car Assessment Programs (Bharat New Car Assessment Program, Japan New Car Assessment Program and New Car Assessment Program for Southeast Asian countries (ASEAN)) which have been encouraging automobile OEMs to offer advanced electronic brake technologies such as ABS, ESC, EBD and TCS as a standard feature on passenger vehicles.

In 2021, the Japanese government implemented a new policy that requires all new cars, minicars, and minitrucks to be equipped with automatic emergency braking systems (AEB) to meet international standards and help prevent accidents. Thus, considering the factors mentioned above, the brake system market in the Asia Pacific is expected to witness significant growth in the coming years. Thus, the brake system market is expected to witness substantial growth during the forecast period.

The brake system market is dominated by globally established 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).

Don’t miss out on business opportunities in Brake System 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. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]

Brake System Market Size,  Share & Growth Report
Report Code
AT 3016
PR Published ON
8/16/2022
Choose License Type
BUY NOW
ADJACENT MARKETS
REQUEST BUNDLE REPORTS
  • SHARE
X
Request Customization
Speak to Analyst
Speak to Analyst
OR FACE-TO-FACE MEETING
PERSONALIZE THIS RESEARCH
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
REQUEST A FREE CUSTOMIZATION
LET US HELP YOU!
  • What are the Known and Unknown Adjacencies Impacting the Brake System Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
CUSTOMIZED WORKSHOP REQUEST
+1-888-600-6441
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
CONNECT WITH US
ABOUT TRUST ONLINE
©2023 MarketsandMarkets Research Private Ltd. All rights reserved
DMCA.com Protection Status
...

Digital Virtual Assistant - MarketsandMarkets

Home