Brake System Market
PUBLISHED: 2023 ID: SMRC22875
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Brake System Market

Brake System Market Forecasts to 2028 - Global Analysis By Brake Type (Drum, Disc and Other Brake Types), Technology (Traction Stability Control (TCS), Antilock Braking Systems (ABS) and Other Technologies), Vehicle Type (Truck, Passenger Car and Other vehicle types), Actuation (Pneumatic and Hydraulic), Off-highway Brake Type, Off-highway Application, Brake Pad Material, End User and By Geography

4.1 (66 reviews)
4.1 (66 reviews)
Published: 2023 ID: SMRC22875

This report covers the impact of COVID-19 on this global market
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Years Covered

2020-2028

Estimated Year Value (2022)

US $22.2 BN

Projected Year Value (2028)

US $32.9 BN

CAGR (2022 - 2028)

6.8%

Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

Asia Pacific

Highest Growing Market

North America


According to Stratistics MRC, the Global Brake System Market is accounted for $22.2 billion in 2022 and is expected to reach $32.9 billion by 2028 growing at a CAGR of 6.8% during the forecast period. A braking system is a method of bringing a vehicle to a complete stop. Brakes normally use friction between two surfaces to convert the kinetic energy of the vehicle into heat, which causes the vehicle to stop. The mechanism that uses artificial resistance to slow or stop a moving body is known as a brake system. Various ways are used to generate the friction required to stop the vehicle. The most important concern when designing any brake system is the management of heat energy generated, which could otherwise injure the vehicle or the brake system.

According to Repair Smith, the average cost of ABS sensor replacement is USD 150–400 and USD 90–USD 200 for brake fluid replacement. Further, the replacement of critical components like master cylinders, rotors, calipers, drums, pads, and cylinders can cost around USD 750–1,000.



Market Dynamics:

Driver:

Inclusion of advanced brake systems

The use of electronic braking systems such as Anti-lock Brake Systems (ABS), Brake Assist (BA), and Electronic Brakeforce Distribution (EBD) can assist in reducing stopping distance. ABS improves vehicle stability and steering control while also assisting in reducing stopping distance during severe braking. This is one of the most significant advantages of ABS over conventional braking systems. ABS, according to the Royal Society for the Prevention of Accidents (ROSPA), ensures that a vehicle can be brought to a stop in the smallest possible distance. BA is based on a vehicle's ABS technology and is typically used in conjunction with ABS. As a result of the legal criteria for vehicle safety, the usage of ABS and BA is likely to increase in the next years.

Restraint:

High development and maintenance costs

General brake system maintenance is costly; for example, a periodic brake system service comprises replacing brake fluid, brake shoes, brake pads, resurfacing rotors, and cleaning, adjusting, and lubricating other costly braking components. The sensors on each wheel of an ABS might cost hundreds of dollars to replace. Furthermore, key components such as master cylinders, rotors, callipers, drums, pads, and cylinders can cost between USD 750 and $1,000 to replace. In cost-sensitive countries such as India and Brazil, advanced electronic systems are typically seen in high-end vehicles.

Opportunity:

Government regulations to make advanced emergency braking systems mandatory

To prevent automobile crashes, more than 40 countries agreed to a drafted United Nations Regulation for Advanced Emergency Braking (AEB) systems for cars and light vehicles. The EU has modified Regulation No. 152-00 to include AEB systems for light passenger and commercial vehicles. The rule requires car makers to integrate AEB in all new automobiles. The legislation also requires vehicles to be tested at 60 mph to ensure that AEB systems are properly deployed. The Advanced Emergency Braking (AEB) system is becoming more widespread, owing to government laws making it a required component in vehicle models. AEB assists in avoiding future collisions, reducing collision intensity, increasing braking force, and being efficient on both urban and highway roads.

Threat:

Air brake freeze-ups

Heavy-duty vehicles, such as trucks and trailers, can experience air brake freezing. Moisture in the lines or brake shoes is the most typical cause of caravan brake freezing. Air brake freeze-ups are particularly common in the winter, and they require significant effort to repair. And, if the car has ABS, moisture can be a significant issue for the brake system's operation. When there is moisture, the ABS valves can collect moisture, freeze, and cause the brakes to fail. As stability control has become a regular feature in new vehicles in industrialised countries such as Europe and North America, controlling moisture in trailer brake lines is critical. Thus, air brake freeze-ups can be inconvenient in the winter, particularly for heavy-duty automobiles.

Covid-19 Impact

The pandemic had a significant detrimental influence on the brake system market. COVID-19's impacts included a shortage of goods and subcontractors, supply chain interruptions, and contract terminations in an effort to cut costs. Public and business sector laws and initiatives to reduce COVID-19 transmissions, such as travel restrictions and the adoption of remote working, have an influence on global operations. Trade restrictions, export limits, and other similar policies imposed by the national government also had a negative impact on the marketability of a variety of items. COVID-19 also had an influence on suppliers' and vendors' ability to offer goods and services.

The hydraulic brake segment is expected to be the largest during the forecast period

The hydraulic brake segment is estimated to have a lucrative growth, due to the increased production of passenger automobiles and light commercial vehicles (LCVs) is pushing the expansion of hydraulic brake systems. Benefits such as better heat dissipation than mechanical brakes, improved braking power transmission, compact size, and ease of repair due to readily available brake parts in the aftermarket are instrumental in increasing hydraulic brake system penetration in the global brake system market during the forecast period.

The agriculture equipment segment is expected to have the highest CAGR during the forecast period

The agriculture equipment segment is anticipated to witness the fastest CAGR growth during the forecast period, due to higher global sales of agricultural tractors in contrast to construction equipment. Increasing farm mechanisation in Asia Pacific is likely to drive the Off-highway agricultural equipment market significantly during the forecast period.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to increased automobile demand and strong growth in the automotive sector. The region's demand for passenger cars has increased as disposable income has increased and living conditions have improved. The implementation of severe government laws concerning vehicular safety, as well as technical improvements, is factors that are likely to generate growth prospects in the region during the projection period.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period, owing to increased farm mechanisation and an increase in the number of off-road sports events/championships. The global increase in ATV sales is projected to drive the ATV brake system market. In the worldwide ATV market, North America accounts for more than 60-62% of the overall market. Furthermore, the United States and Canada contributed for roughly 70-75% of overall ATV production in the region.



Key players in the market

Some of the key players profiled in the Brake System Market include Haldex, Hitachi Automotive System, Advics Co. Ltd., Nissin Kogyo Co. Ltd., ZF Friedrichshafen AG, Aisin Seiki Co. Ltd., Robert Bosch GmbH, Akebono Brake Industry Co., Brembo SpA, Web co and TRW.

Key Developments:

In March 2021, Brembo introduced its new Brembo Sport | T3 brake disc. ?The new Brembo Sport | T3 disc is a direct replacement for original equipment discs and has two easily recognizable elements that distinguish it from the previous version - the use of Type3 slotting and the Brembo logo engraved on the braking surface.

In November 2020, TRW (ZF’s aftermarket brand) product portfolio for the independent aftermarket was further expanded in the two-piece brake disc segment. These brake discs are now also available for various Mercedes-Benz C- and E-Class models. Additional references for S-Class and GLC models of the Stuttgart premium manufacturer will follow in mid-2021.

In March 2020, ZF launched an industry-first Front Electric Park Brake, extending the range of Electric Park Brake (EPB) systems to a wider range of vehicles. With this solution, car manufacturers can now equip smaller vehicles with an advanced braking system and design their interior without the classic handbrake lever or park brake pedal.

In June 2018, Akebono Brake Industry Co., Ltd. developed the world's first "new construction brake caliper." The new brake caliper is based on the construction of the existing product, the AD-Type disc brake, and has been modified extensively to meet specific requirements for automobiles that use electric power sources and to be friendlier to the global environment.

Brake Types Covered:
• Drum
• Disc
• Hydraulic Wet Brake
• Hydrostatic Brake
• Regenerative and Dynamic Brake
• Other Brake Types

Technologies Covered:
• Traction Stability Control (TCS)
• Antilock Braking Systems (ABS)
• Electronic Brakeforce Distribution (EBD)
• Electronic Stability Control (ESC)
• Electronic Brake System
• Other Technologies

Vehicle Types Covered:
• Truck
• Passenger Car
• Light-Commercial Vehicles (LCV)
• Bus
• Heavy Commercial Vehicles (HCV)

Actuations Covered:
• Pneumatic
• Hydraulic

Off-highway Brake Types Covered:
• Hydrostatic Brake
• Hydraulic Wet Brake
• Dynamic Brake
• Other Off-highway Brake Types

Off-highway Applications Covered:
• Agricultural Tractors
• Construction Equipment
• Mining Equipment

Brake Pad Materials Covered:
• Metallic
• Organic
• Ceramic

End Users Covered:
• Agriculture Equipment
• Automotive
• Mining Equipment
• Construction Equipment
• Industrial Truck
• Other End Users

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 2020, 2021, 2022, 2025, and 2028
- 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 End User 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 Brake System Market, By Brake Type
5.1 Introduction
5.2 Drum
5.3 Disc
5.4 Hydraulic Wet Brake
5.5 Hydrostatic Brake
5.6 Regenerative and Dynamic Brake
5.7 Other Brake Types

6 Global Brake System Market, By Technology
6.1 Introduction
6.2 Traction Stability Control (TCS)
6.3 Antilock Braking Systems (ABS)
6.4 Electronic Brakeforce Distribution (EBD)
6.5 Electronic Stability Control (ESC)
6.6 Electronic Brake System
6.7 Other Technologies

7 Global Brake System Market, By Vehicle Type
7.1 Introduction
7.2 Truck
7.3 Passenger Car
7.4 Light-Commercial Vehicles (LCV)
7.5 Bus
7.6 Heavy Commercial Vehicles (HCV)

8 Global Brake System Market, By Actuation
8.1 Introduction
8.2 Pneumatic
8.3 Hydraulic

9 Global Brake System Market, By Off-highway Brake Type
9.1 Introduction
9.2 Hydrostatic Brake
9.3 Hydraulic Wet Brake
9.4 Dynamic Brake
9.5 Other Off-highway Brake Types

10 Global Brake System Market, By Off-highway Application
10.1 Introduction
10.2 Agricultural Tractors
10.3 Construction Equipment
10.4 Mining Equipment

11 Global Brake System Market, By Brake Pad Material
11.1 Introduction
11.2 Metallic
11.3 Organic
11.4 Ceramic

12 Global Brake System Market, By End User
12.1 Introduction
12.2 Agriculture Equipment
12.3 Automotive
12.4 Mining Equipment
12.5 Construction Equipment
12.6 Industrial Truck
12.7 Other End Users

13 Global Brake System Market, By Geography
13.1 Introduction
13.2 North America
13.2.1 US
13.2.2 Canada
13.2.3 Mexico
13.3 Europe
13.3.1 Germany
13.3.2 UK
13.3.3 Italy
13.3.4 France
13.3.5 Spain
13.3.6 Rest of Europe
13.4 Asia Pacific
13.4.1 Japan
13.4.2 China
13.4.3 India
13.4.4 Australia
13.4.5 New Zealand
13.4.6 South Korea
13.4.7 Rest of Asia Pacific
13.5 South America
13.5.1 Argentina
13.5.2 Brazil
13.5.3 Chile
13.5.4 Rest of South America
13.6 Middle East & Africa
13.6.1 Saudi Arabia
13.6.2 UAE
13.6.3 Qatar
13.6.4 South Africa
13.6.5 Rest of Middle East & Africa

14 Key Developments
14.1 Agreements, Partnerships, Collaborations and Joint Ventures
14.2 Acquisitions & Mergers
14.3 New Product Launch
14.4 Expansions
14.5 Other Key Strategies

15 Company Profiling
15.1 Haldex
15.2 Hitachi Automotive System
15.3 Advics Co. Ltd.
15.4 Nissin Kogyo Co. Ltd.
15.5 ZF Friedrichshafen AG
15.6 Aisin Seiki Co.Ltd.
15.7 Robert Bosch GmbH
15.8 Akebono Brake Industry Co.
15.9 Brembo SpA
15.10 Web co
15.11 TRW

List of Tables
1 Global Brake System Market Outlook, By Region (2020-2028) ($MN)
2 Global Brake System Market Outlook, By Brake Type (2020-2028) ($MN)
3 Global Brake System Market Outlook, By Drum (2020-2028) ($MN)
4 Global Brake System Market Outlook, By Disc (2020-2028) ($MN)
5 Global Brake System Market Outlook, By Hydraulic Wet Brake (2020-2028) ($MN)
6 Global Brake System Market Outlook, By Hydrostatic Brake (2020-2028) ($MN)
7 Global Brake System Market Outlook, By Regenerative and Dynamic Brake (2020-2028) ($MN)
8 Global Brake System Market Outlook, By Other Brake Types (2020-2028) ($MN)
9 Global Brake System Market Outlook, By Technology (2020-2028) ($MN)
10 Global Brake System Market Outlook, By Traction Stability Control (TCS) (2020-2028) ($MN)
11 Global Brake System Market Outlook, By Antilock Braking Systems (ABS) (2020-2028) ($MN)
12 Global Brake System Market Outlook, By Electronic Brakeforce Distribution (EBD) (2020-2028) ($MN)
13 Global Brake System Market Outlook, By Electronic Stability Control (ESC) (2020-2028) ($MN)
14 Global Brake System Market Outlook, By Electronic Brake System (2020-2028) ($MN)
15 Global Brake System Market Outlook, By Other Technologies (2020-2028) ($MN)
16 Global Brake System Market Outlook, By Vehicle Type (2020-2028) ($MN)
17 Global Brake System Market Outlook, By Truck (2020-2028) ($MN)
18 Global Brake System Market Outlook, By Passenger Car (2020-2028) ($MN)
19 Global Brake System Market Outlook, By Light-Commercial Vehicles (LCV) (2020-2028) ($MN)
20 Global Brake System Market Outlook, By Bus (2020-2028) ($MN)
21 Global Brake System Market Outlook, By Heavy Commercial Vehicles (HCV) (2020-2028) ($MN)
22 Global Brake System Market Outlook, By Actuation (2020-2028) ($MN)
23 Global Brake System Market Outlook, By Pneumatic (2020-2028) ($MN)
24 Global Brake System Market Outlook, By Hydraulic (2020-2028) ($MN)
25 Global Brake System Market Outlook, By Off-highway Brake Type (2020-2028) ($MN)
26 Global Brake System Market Outlook, By Hydrostatic Brake (2020-2028) ($MN)
27 Global Brake System Market Outlook, By Hydraulic Wet Brake (2020-2028) ($MN)
28 Global Brake System Market Outlook, By Dynamic Brake (2020-2028) ($MN)
29 Global Brake System Market Outlook, By Other Off-highway Brake Types (2020-2028) ($MN)
30 Global Brake System Market Outlook, By Off-highway Application (2020-2028) ($MN)
31 Global Brake System Market Outlook, By Agricultural Tractors (2020-2028) ($MN)
32 Global Brake System Market Outlook, By Construction Equipment (2020-2028) ($MN)
33 Global Brake System Market Outlook, By Mining Equipment (2020-2028) ($MN)
34 Global Brake System Market Outlook, By Brake Pad Material (2020-2028) ($MN)
35 Global Brake System Market Outlook, By Metallic (2020-2028) ($MN)
36 Global Brake System Market Outlook, By Organic (2020-2028) ($MN)
37 Global Brake System Market Outlook, By Ceramic (2020-2028) ($MN)
38 Global Brake System Market Outlook, By End User (2020-2028) ($MN)
39 Global Brake System Market Outlook, By Agriculture Equipment (2020-2028) ($MN)
40 Global Brake System Market Outlook, By Automotive (2020-2028) ($MN)
41 Global Brake System Market Outlook, By Mining Equipment (2020-2028) ($MN)
42 Global Brake System Market Outlook, By Construction Equipment (2020-2028) ($MN)
43 Global Brake System Market Outlook, By Industrial Truck (2020-2028) ($MN)
44 Global Brake System Market Outlook, By Other End Users (2020-2028) ($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


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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