Brake System Market

Bosch GmbH (Germany) and Continental AG (Germany) are the Lading Player in the Brake System Market

The automotive industry has always been associated with advancements and complexity in various technologies. Technology is the backbone of the automobile industry. With increase in the demand for automobiles, the competition across automotive manufacturers has also increased. Each manufacturer, to sustain its market share, is focusing on the rapid innovations in technologies. The R&D expenditure of automotive companies has shown a significant increase in the past few years. According to the report published by European Automobile Manufacturer’s Association, aggregate amount of 4% of the automotive industry’s turnover in Europe, is spent for R&D over the past decade. This substantiates the overall spending on R&D in this industry. The R&D expenses are accompanied with advancements in the technology with increased complexity. However, the progressions in the technologies are usually associated with increased prices. At some places, while maintaining the balance between technology and cost, there is a possibility of regulation violation. Hence, offering cost-effective technology advancement, compatible with regulations is a task for automotive industry. Till date, the industry is putting its best efforts to deliver the customer-centric products which are equally accepted by regulatory authorities.

The market is expected to witness rapid growth with the implementation of stringent safety standards in developing countries, particularly China, India, Brazil, etc. Also, popularity of disc brakes over drum brakes due to its technical benefits is driving brake system market. Additionally, increasing sales of premium and luxury vehicles is boosting electronic braking systems market share

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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). These companies focus on developing new products, adopt expansion strategies and undertake collaborations, partnerships, and mergers & acquisitions to gain traction in this growing brake system market.

Bosch GmbH is a leading player in the brake system market. The company offers a diversified product portfolio across the brake system market. A balanced product portfolio not only secures the company against unfavorable forces in a specific market by dispersing its business risks but also enables it to benefit from opportunities available across industries. Also, the company’s increased focus on R&D allows it to introduce various advanced brake system technologies and components. The company invested USD 6.8 billion in 2019 in R&D. Bosch focuses on both organic and inorganic developments. The company’s demonstration with Ford for automatic driving and parking in the US is expected to popularize its advanced braking system portfolio in the automotive industry, setting up a benchmark. Also, Bosch’s ESP has become hugely popular due to its technical benefits offered. The innovation is from 1995, but Bosch has continuously improved its anti-skid system and produced more than 250 million ESP systems to date. Modern cars are equipped with this system. Worldwide, 82% of all new vehicles were equipped with ESP in 2020.

Continental AG is another leading player in the brake system market. Continental has a strong geographic presence across the globe. This helps it cater to the specific regional needs of its customers, thereby tapping the growing brake system markets. The company’s increased focus on R&D also gives it an added advantage over its competitors. R&D expenses in the chassis & safety division rose by 2.3% in 2020, amounting to USD 1.01 billion. Continental focuses on organic developments—new product developments and expansions. The company’s strategy to expand its aftermarket brake system product portfolio is driving its revenue business. For instance, Continental was the first independent aftermarket supplier of brake discs for the front axle of the Mercedes-Benz C-Class in 2016. Following this successful launch, Continental has continuously expanded its portfolio for the C-Class, which now includes a solution for the rear axle. The brake series is being supplemented by more products for more models, and the extensive ATE brand range will also cover the Mercedes-Benz E-Class model series in the future.

Related Reports:

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

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Report Code
AT 3016
RI Published ON
7/26/2021
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