Automotive Brake System Market
Automotive Brake System Market Forecasts to 2030 - Global Analysis By Type (Drum Brakes and Disc Brakes), Vehicle Type, Actuation, Component, Technology, Application and By Geography
According to Stratistics MRC, the Global Automotive Brake System Market is accounted for $34.6 billion in 2023 and is expected to reach $65.4 billion by 2030 growing at a CAGR of 9.5% during the forecast period. An automotive brake system is a crucial safety component in vehicles, designed to slow or stop the vehicle when necessary. It typically consists of several key parts, including brake pads, rotors, calipers, brake lines, and a master cylinder. When the driver presses the brake pedal, hydraulic pressure is transmitted through the brake lines to the calipers, which then squeeze the brake pads against the rotors, creating friction and slowing the vehicle. Proper maintenance and regular inspections are essential to ensure the brake system's efficiency and safety, as any malfunction can lead to decreased stopping power and increased risk of accidents.
According to the Association of Safe International Road Travel (ASIRT), nearly 1.3 million people die in road crashes, each year globally, with an average 3,287 deaths per day.
Market Dynamics:
Driver:
Rising demand for passenger and commercial vehicles
Growing demand encourages innovation in brake system technology. Manufacturers invest in research and development to enhance braking performance, durability, and safety features, leading to the introduction of advanced brake systems such as anti-lock braking systems (ABS), electronic brake-force distribution (EBD), and regenerative braking systems. Additionally stricter safety regulations and emission standards worldwide drive the adoption of advanced brake systems. Manufacturers must comply with these standards, leading to the integration of more sophisticated brake technologies into vehicles which drive the demand for automotive brake system market.
Restraint:
Brake failure rate and high development costs
Brake failures erode consumer trust in vehicle safety and increase legal liabilities for manufacturers. Negative publicity from accidents and recalls can damage brand reputation and deter potential buyers, impacting sales and aftermarket demand. Additionally, frequent maintenance due to unreliable brake systems escalates ownership costs for consumers, leading to dissatisfaction and reluctance to invest in affected vehicles. Meanwhile, the high expenses associated with developing advanced brake technologies strain manufacturers' budgets and hinder innovation. This limits market competitiveness and may force suppliers to raise prices, making their products less attractive to price-sensitive consumers and automakers.
Opportunity:
Growing popularity of advanced driver-assistance systems (ADAS)
Automotive brake system, incorporating features like automatic emergency braking (AEB) and adaptive cruise control, heavily relies on advanced brake technology for effective operation. This burgeoning demand is propelling manufacturers to develop brake systems with enhanced responsiveness, precision, and integration capabilities. Consequently, there's a surge in research and development investments aimed at innovating brake components to meet the stringent requirements of ADAS functionalities. Moreover, as ADAS adoption becomes more widespread across various vehicle segments, the automotive brake system market experiences a significant expansion.
Threat:
Maturity of traditional brake systems
The maturity and affordability of traditional brakes make them the default choice for many car manufacturers, especially in budget-conscious segments. Traditional systems have limitations in terms of stopping power, fade resistance (performance drop during sustained braking), and overall responsiveness compared to some advanced systems. This creates a barrier for newer, more advanced braking systems (ABS, EBD, etc.) to gain widespread adoption, hindering the growth potential of that part of the market.
Covid-19 Impact
Lockdowns and supply chain disruptions led to production halts, causing a decline in vehicle sales and demand for brake systems. However, as restrictions eased, there was a gradual recovery driven by pent-up demand and government stimulus measures. Moreover, the emphasis on safety in the post-pandemic era boosted the adoption of advanced braking technologies, such as electronic brake systems and autonomous emergency braking, further driving market growth. Despite challenges, the automotive brake system market is expected to rebound with a focus on innovation and safety features.
The drum brakes segment is expected to be the largest during the forecast period
The drum brakes segment is estimated to have a lucrative growth, due to predominant braking technology, their market share has been gradually decreasing in favour of disc brakes, which offer better performance and efficiency. However, drum brakes still find application in certain vehicle segments, particularly in the rear wheels of smaller and less expensive vehicles. This maintains a niche market for drum brakes, especially in regions where cost considerations are paramount.
The pneumatic segment is expected to have the highest CAGR during the forecast period
The pneumatic segment is anticipated to witness the highest CAGR growth during the forecast period, pneumatic brakes, which utilize compressed air to transmit force, offer significant advantages such as quicker response times, enhanced reliability, and reduced maintenance compared to traditional hydraulic systems. This innovation has been particularly crucial in heavy-duty vehicles like trucks and buses, where efficient braking is paramount for safety and performance. The adoption of pneumatic braking technology has thus driven market growth, especially in the commercial vehicle segment.
Region with largest share:
Asia Pacific is projected to hold the largest market share during the forecast period due to the availability of low-cost labor and raw materials, regional firms offer significant cost savings. Furthermore, countries such as China and India, among others, are the automotive manufacturing hub. The rising popularity of automotive brake systems and increased sales of luxury and premium automobiles are expected to drive market growth. Moreover, the increasing number of accidents and the surge in automobile sales contribute to the overall market growth.
Region with highest CAGR:
North America is projected to have the highest CAGR over the forecast period, owing to the growing desire for better performance of vehicles in adverse weather, the presence of major car manufacturers, and growth in the supply of light commercial vehicles and passenger cars have driven the expansion of the market in this region. Furthermore, since 2018, the mandated installation of ESC technology in all light cars has driven regional market growth.
Key players in the market
Some of the key players in the Automotive Brake System Market include AISIN Corporation, Akebono Brake Industry Co., Ltd., Aptiv PLC, Autoliv Inc, Bosch Mobility Solution, Brembo S.p.A, Continental AG, Delphi Technologies, Denso Corporation, Disc Breakes Australia, Federal Mogul Holding Co., Haldex, Hella Pagid Gmbh, Hitachi Ltd., Hyundai Mobis, NISSIN KOGYO Co., Ltd, The Web Co, WABCO and ZF Friedrichshafen AG
Key Developments:
In March 2024, SUBARU and AISIN to collaborate on eaxles for next-generation electrified vehicles. This joint development, based on the concept of high efficiency, light weight, and compactness, aims to achieve various performance aspects that take into account the environments in which customers will use their vehicles.
In September 2023, Autoliv, Inc. strengthens its insights in automotive safety as Klaus Kompass, former VP Vehicle Safety at BMW Group and Seigo Kuzumaki, former Fellow of Advanced R&D and Engineering, Toyota Motor Corporation, join the Autoliv Research Advisory Board.
Types Covered:
• Drum Brakes
• Disc Brakes
Vehicle Types Covered:
• Commercial Vehicles
• Passenger Cars
• Trucks
• Buses
Actuations Covered:
• Hydraulic
• Pneumatic
• Hydrostatic
• Other Actuations
Components Covered:
• Master Cylinders
• Brake Pads
• Brake Shoes
• Brake Calipers
• Brake Disc Rotors
Technologies Covered:
• Electronic Stability Control (ESC)
• Traction Control System (TSC)
• Electronic Brakeforce Distribution (EBD)
• Anti-lock braking system (ABS)
• Automatic Emergency Braking (AEB)
Applications Covered:
• Mining Equipment
• Construction Equipment
• Agricultural Tractors
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 Application Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Automotive Brake System Market, By Type
5.1 Introduction
5.2 Drum Brakes
5.3 Disc Brakes
6 Global Automotive Brake System Market, By Vehicle Type
6.1 Introduction
6.2 Commercial Vehicles
6.3 Passenger Cars
6.4 Trucks
6.5 Buses
7 Global Automotive Brake System Market, By Actuation
7.1 Introduction
7.2 Hydraulic
7.3 Pneumatic
7.4 Hydrostatic
7.5 Other Actuations
8 Global Automotive Brake System Market, By Component
8.1 Introduction
8.2 Master Cylinders
8.3 Brake Pads
8.4 Brake Shoes
8.5 Brake Calipers
8.6 Brake Disc Rotors
9 Global Automotive Brake System Market, By Technology
9.1 Introduction
9.2 Electronic Stability Control (ESC)
9.3 Traction Control System (TSC)
9.4 Electronic Brakeforce Distribution (EBD)
9.5 Anti-lock braking system (ABS)
9.6 Automatic Emergency Braking (AEB)
10 Global Automotive Brake System Market, By Application
10.1 Introduction
10.2 Mining Equipment
10.3 Construction Equipment
10.4 Agricultural Tractors
11 Global Automotive Brake System Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa
12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies
13 Company Profiling
13.1 AISIN Corporation
13.2 Akebono Brake Industry Co., Ltd.
13.3 Aptiv PLC
13.4 Autoliv Inc
13.5 Bosch Mobility Solution
13.6 Brembo S.p.A
13.7 Continental AG
13.8 Delphi Technologies
13.9 Denso Corporation
13.10 Disc Breakes Australia
13.11 Federal Mogul Holding Co.
13.12 Haldex
13.13 Hella Pagid Gmbh
13.14 Hitachi Ltd.
13.15 Hyundai Mobis
13.16 NISSIN KOGYO Co., Ltd
13.17 The Web Co
13.18 WABCO
13.19 ZF Friedrichshafen AG
List of Tables
1 Global Automotive Brake System Market Outlook, By Region (2021-2030) ($MN)
2 Global Automotive Brake System Market Outlook, By Type (2021-2030) ($MN)
3 Global Automotive Brake System Market Outlook, By Drum Brakes (2021-2030) ($MN)
4 Global Automotive Brake System Market Outlook, By Disc Brakes (2021-2030) ($MN)
5 Global Automotive Brake System Market Outlook, By Vehicle Type (2021-2030) ($MN)
6 Global Automotive Brake System Market Outlook, By Commercial Vehicles (2021-2030) ($MN)
7 Global Automotive Brake System Market Outlook, By Passenger Cars (2021-2030) ($MN)
8 Global Automotive Brake System Market Outlook, By Trucks (2021-2030) ($MN)
9 Global Automotive Brake System Market Outlook, By Buses (2021-2030) ($MN)
10 Global Automotive Brake System Market Outlook, By Actuation (2021-2030) ($MN)
11 Global Automotive Brake System Market Outlook, By Hydraulic (2021-2030) ($MN)
12 Global Automotive Brake System Market Outlook, By Pneumatic (2021-2030) ($MN)
13 Global Automotive Brake System Market Outlook, By Hydrostatic (2021-2030) ($MN)
14 Global Automotive Brake System Market Outlook, By Other Actuations (2021-2030) ($MN)
15 Global Automotive Brake System Market Outlook, By Component (2021-2030) ($MN)
16 Global Automotive Brake System Market Outlook, By Master Cylinders (2021-2030) ($MN)
17 Global Automotive Brake System Market Outlook, By Brake Pads (2021-2030) ($MN)
18 Global Automotive Brake System Market Outlook, By Brake Shoes (2021-2030) ($MN)
19 Global Automotive Brake System Market Outlook, By Brake Calipers (2021-2030) ($MN)
20 Global Automotive Brake System Market Outlook, By Brake Disc Rotors (2021-2030) ($MN)
21 Global Automotive Brake System Market Outlook, By Technology (2021-2030) ($MN)
22 Global Automotive Brake System Market Outlook, By Electronic Stability Control (ESC) (2021-2030) ($MN)
23 Global Automotive Brake System Market Outlook, By Traction Control System (TSC) (2021-2030) ($MN)
24 Global Automotive Brake System Market Outlook, By Electronic Brakeforce Distribution (EBD) (2021-2030) ($MN)
25 Global Automotive Brake System Market Outlook, By Anti-lock braking system (ABS) (2021-2030) ($MN)
26 Global Automotive Brake System Market Outlook, By Automatic Emergency Braking (AEB) (2021-2030) ($MN)
27 Global Automotive Brake System Market Outlook, By Application (2021-2030) ($MN)
28 Global Automotive Brake System Market Outlook, By Mining Equipment (2021-2030) ($MN)
29 Global Automotive Brake System Market Outlook, By Construction Equipment (2021-2030) ($MN)
30 Global Automotive Brake System Market Outlook, By Agricultural Tractors (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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