IMARC Group has recently released a new research study “Automotive Brake System Market : Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
what are the growth prospects of the automotive brake system industry?
The global automotive brake system market size reached US$ 47.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach a value of US$ 63.4 Billion by 2028, exhibiting a growth rate (CAGR) of 4.85% during 2023-2028.
what is automotive brake system?
Automotive brake system represents mechanical control devices designed to restrain the motion of vehicles and ensure the safety of the passengers and driver. They can be categorized into disc brakes and drum brakes and comprise of calipers, brake pedals, rotors, master cylinders, hoses, fluid lines, brake pads, etc. These automotive brake system components help stop or slow down the motion of an automobile by creating friction between two surfaces.
They also assist drivers in parking their vehicles with stability either on a slope or flat surface. Consequently, automotive brake system technologies are extensively integrated into passenger cars and commercial vehicles across countries.
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what are the key factors driving in the automotive brake system market?
The rising sales of automobiles, on account of the growing population, and the elevating occurrences of road accidents are primarily driving the automotive brake system market. In line with this, the expanding concerns among individuals about road traffic collisions and fatalities that are compelling automotive manufacturers to integrate robust safety systems in vehicles are acting as another significant growth-inducing factor.
In addition to this, the implementation of numerous stringent regulations by the government bodies aimed at preventing road accidents and the development of regenerative braking technology and anti-lock braking systems (ABS) that assist drivers in having maximum control and facilitate shorter stopping distances are further stimulating the market growth. Apart from this, the introduction of a new car assessment program (NCAP) that promotes the use of electronic brake systems and the escalating adoption of electric cars are expected to propel the automotive brake system market over the forecasted period.
who are the key players/companies in automotive brake system market?
Aisin Corporation, Akebono Brake Industry Co. Ltd., BorgWarner Inc., Brembo S.p.A., Continental AG, Haldex AB, HELLA GmbH & Co. KGaA (Faurecia SE), Hitachi Ltd., Hyundai Mobis Co. Ltd. (Hyundai Motor Group), Knorr-Bremse AG, Performance Friction Corporation, Robert Bosch GmbH and ZF Friedrichshafen AG.
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Report Segmentation:
The report has been segmented the market into following categories:
Breakup by Type:
- Disc Brakes
- Drum Brakes
Breakup by Component:
- Master Cylinder
- Brake Pad
- Calipers
- Disc
- Vacuum Servo Brake
- Brake Drums
- Others
Breakup by Technology:
- Anti-Lock Braking System (ABS)
- Traction Control System (TCS)
- Electronic Stability Control (ESC)
- Electronic Brake Force Distribution (EBD)
Breakup by Vehicle Type:
- Passenger Cars
- Commercial Vehicles
Breakup by Sales Channel:
- Original Equipment Manufacturers (OEMs)
- Aftermarket
By Geography:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
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Market OverviewMarket Research Future (MRFR) in its new research study, asserts that the “Global Automotive Electronic Brake System Market” is booming and expected to grow exponentially over the review period, recording a substantial market valuation and a vigorous 5.4% CAGR in the forecast to 2025.Technological advancements and growing support from the government in nations like India and China are cited as the prime reasons behind the growth of the automotive electronic brake system market.
To be specific, growing popularity of high-end technicalities like Traction Control System or TCS and ABS systems also does make the prospects of global automotive electronic brake system market significant in forecast period.
Growing demand and massive production in automotive industry are also among the reasons behind the growth of global automotive electronic braking systems market.
Growing purchase power can also be one of the reasons behind the promising market scenario.Key PlayersThe prominent players in the Global Automotive Electronic Brake System market include Advics Group (US), Autoliv Inc. (Sweden), Knorr Bremse AG (Germany), Robert Bosch GMBH (Germany), Wabco Holdings Inc. (US), ZF TRW Automotive (US), Continental AG (Germany), Delphi Automotive Plc (US), Denso Corporation (Japan), Haldex AB (Sweden), are among others.Get Free Sample Report @ https://www.marketresearchfuture.com/sample_request/6909Segmentation of automotive electronic brake system marketGlobal automotive electronic brake system market can be segmented on vehicles, channels, and products.
In terms of product, the market can be further classified into disc brakes and drum brakes.
Based on region, global automotive electronic brake system market can be further classified into North America, Asia Pacific, Europe, Europe, and South America, which is led mainly by Asia Pacific.Regional analysisGeographically, global automotive electronic brake system market can be further classified into North America, Asia Pacific, Europe, Europe, and South America, which is led mainly by Asia Pacific.
