Automotive brake systems play a crucial role in enhancing vehicle safety and preventing accidents by assisting drivers in stopping the vehicle. Disc brake systems offer improved braking performance over drum brakes and are increasingly being adopted in passenger vehicles. Advancements in braking technologies allow for features such as anti-lock braking system (ABS), electronic brake-force distribution (EBD), and regenerative braking. The growing demand for vehicles with such advanced safety features is driving the automotive brake system market.
The global automotive brake system market is estimated to be valued at US$ 32.42 Mn in 2023 and is expected to exhibit a CAGR of 4.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Adoption of electric vehicles has emerged as a major trend in the automotive industry in recent years owing to stringent emission regulations and rising environmental concerns. Electric vehicles utilize regenerative braking technology which allows the conversion of kinetic energy lost during braking into usable electrical power. The regenerative braking system improves vehicle range and efficiency. Moreover, advanced electric braking technologies suitable for electric vehicles are attracting research and development investments from automakers. This is expected to fuel the demand for innovative braking solutions and drive the growth of the automotive brake system market over the forecast period.
Segment Analysis
The Global Automotive Brake System Market Size is dominated by the brake pads and linings segment. This segment accounts for more than 29% of the total market share as brake pads and linings experience wear and tear frequently and requires frequent replacement. With growing fleet of vehicles on road, the replacement demand for brake pads and linings continues to remain high globally.
Key Takeaways
The global automotive brake system market is expected to witness high growth owing to rising vehicle production and sales globally. Growing vehicle parc is driving the demand for replacement of brake parts which is supporting the market growth. The global automotive brake system market is estimated to be valued at US$ 32.42 Mn in 2023 and is expected to exhibit a CAGR of 4.6% over the forecast period 2023 to 2030.
Regional analysis: Asia Pacific region dominates the global automotive brake system market with a share of over 35% in 2023. Rapid motorization and increasing vehicle production in countries such as China and India is driving the demand for brake systems in Asia Pacific region. Additionally, presence of leading automotive hubs has been attracting manufacturing of brake systems in the region.
Key players: Key players operating in the automotive brake system market are Givaudan SA, International Flavors & Fragrances Inc., Firmenich SA, Symrise AG, Takasago International Corporation, Sensient Technologies Corporation, T. Hasegawa Co., Ltd. These players are focusing on new product development and expansion in growing markets to gain higher share.
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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.
Automotive brake fluid is a type of hydraulic fluid used in hydraulic clutches & brake applications in motorcycles, automobiles and some bicycles.
It plays a crucial role as it transfers force when a driver applies the brake.
Additionally, automotive brake fluid helps prevent corrosion and serves as lubricant for all movable parts.Global Automotive Brake Fluid market size will reach 640 million US$ by 2025, from 540 million US$ in 2018, at a CAGR of 2.0% during the forecast period.
In this study, 2018 has been considered as the base year and 2019–2025 as the forecast period to estimate the market size for Automotive Brake Fluid.Download FREE Sample of this Report @ https://www.grandresearchstore.com/report-sample/global-automotive-brake-fluid-2025-264This industry study presents the global Automotive Brake Fluid market size, historical breakdown data (2014–2019) and forecast (2019–2025).
The Automotive Brake Fluid production, revenue and market share by manufacturers, key regions and type;The consumption of Automotive Brake Fluid in volume terms are also provided for major countries (or regions), and for each application and product at the global level.
Market share, growth rate, and competitive factors are also evaluated for market leaders Beijing Haidian Huiyuan Synthetic Agents, Bosch, etc.The following manufacturers are covered in this report:Beijing Haidian Huiyuan Synthetic AgentsBoschCoptonCnpcCastrol(Bp)CaltexExxon MobilDelian GroupFuchsFaw(First Automobile Works) Group CorporationJilin HairunIrico GroupOriginalLaikeShenzhen Pingchi Industry CoShellSinopecTotalTeecZhuhai Gaida ShiyeTianjin Xuqi GongmaoAutomotive Brake Fluid Breakdown Data by TypeMineral OilSyntheticAutomotive Brake Fluid Breakdown Data by ApplicationPassenger VehiclesCommercial VehiclesAutomotive Brake Fluid Production by RegionUnited StatesEuropeChinaJapanSouth KoreaIndiaOther RegionsAutomotive Brake Fluid Consumption by RegionNorth AmericaUnited StatesCanadaMexicoAsia-PacificChinaIndiaJapanSouth KoreaAustraliaIndonesiaMalaysiaPhilippinesThailandThe study objectives are:To analyze and research the global Automotive Brake Fluid status and future forecast?involving, production, revenue, consumption, historical and forecast.To present the key Automotive Brake Fluid manufacturers, production, revenue, market share, SWOT analysis and development plans in next few years.To segment the breakdown data by regions, type, manufacturers and applications.To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.To identify significant trends, drivers, influence factors in global and regions.In this study, the years considered to estimate the market size of Automotive Brake Fluid :History Year: 2014–2018Base Year: 2018Estimated Year: 2019Forecast Year: 2019–2025This report includes the estimation of market size for value (million USD) and volume (K Units).
Global “Automotive Brake Systems Market” report offers an overview of the market size, share, trends, drivers, and barriers with respect to the Automotive Brake Systems Industry.
Latest report on the global Automotive Brake Systems market is a compilation of key market insights and discusses key market dynamics such as drivers, restraints, and opportunities at length.
Download Free Sample Report Now @ https://www.millioninsights.com/industry-reports/automotive-brake-system-market/request-sample Global Automotive Brake Systems Market in-depth statement on the key influencing factors, market statistics in terms of revenues, segment-wise knowledge, region-wise knowledge, and country-wise knowledge are offered within the full study.
The competitive data type analysis includes capacity, market share, profit margin, market growth, consumer consumption, imports, exports, revenue, and etc.
Automotive brake systems are the technologies that combine brake controls and sensors to avoid high-speed road accidents.
Other factors like government regulations on reducing stopping distances, New Car Assessment Program (NCAP), safety rating certifications, and instructions on installation of electronic brake systems are increasing the demand for disc brakes and other automatic brake systems.
