by [150+ Pages Report] As per the latest Research and survey report issued by Precedence Research, the global automotive braking system market was valued at around USD 22.35 billion in 2021 and is expected to register revenues worth USD 33.93 billion by the end of 2027, growing at an exceptional CAGR of approximately 5.3% between 2020 and 2027.
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Automotive Braking System Market Growth Factors:
The increased implementation of electronic components is one of the prime factors contributing for the market growth. Implementation of these electronic components has led to the development of technologies that are Electronic Stability Control (ESC), Traction Control System (TCS), Antilock Braking System (ABS), and Electronic Brake-Force Distribution (EBD).
Adoption of these advanced technologiesalong with rising popularity of vehicle safety technologies among consumers presumed to escalate the market growth. Besides this, high cost of integration expected to restrict the widespread adoption of advanced braking systems. Hence, majority of such technologies are implemented solely in the luxury and premium vehicles.
Other than this, increasing stringency in the vehicle safety norms anticipated to propel the market growth in the coming years. Associations of automobile across the globe are working rigorously towardsthe improvement of vehicle safety.
For example, in 2016, the National Highway Traffic Safety Administration (NHTSA) in the U.S. and Insurance Institute for Highway Safety (U.S.)together with 20 prominent vehicle manufacturers, have announced their plan to implement Automatic Emergency Braking (AEB) systems as a standard vehicle feature in all new passenger cars from September 2022.
Similarly, the Ministry of Road Transport and Highway (MoRTH), India, in 2015, mandated the integration of ABS in all commercial vehicles. Thus, the market projected to grow at a steady rate over the analysis period.
Automotive Braking System Market Report Scope
A recent study by Precedence Research on the automotive braking system market offers a forecast for 2020 and 2027. The study analyzes crucial trends that are currently determining the growth of the automotive braking system market.
This report explicates on vital dynamics such as the drivers, restraints, and opportunities for key market players, along with key stakeholders as well as emerging players associated with the manufacturing of automotive braking system. The study also provides the dynamics that are responsible for influencing the future status of the automotive braking system market over the forecast period.
A detailed assessment of the automotive braking system market value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report. A list of prominent companies operating in the automotive braking system market along with their product portfolio enhances the reliability of this comprehensive research study.
Automotive Braking System Market Report Highlights
- The Asia Pacific led the global market attributed to the low production cost along with rising demand of transportation in countries such as China and India
- Europe and North America are other most prominent markets in the automotive braking system owing to strict safety regulations for transportation industry
- Passenger vehicles captured significant production share of nearly 75%per year that in turn boost the demand for advanced braking system in the passenger vehicle segment
- Demand for commercial vehicles expected to proliferate in the coming years because of accelerating growth of logistics and transportation industry
- Based on part type, disc brakes are expected to witness an escalating demand in the near future as it offers shorter stopping distance along with it is more efficient during emergency braking condition
- By system type, pneumatic braking system exhibits the fastest growth over the analysis period owing to advanced braking and stopping options
Competition Landscape
The report has engulfed a chapter on the global electric vehicle market’s competitive landscape, which provides detailed analysis and insights on companies offering electric vehicle. Profiles of key companies, along with a strategic overview of their M&A and expansion plans across geographies, have been delivered in this chapter.
This chapter is priceless for report readers, as its enables them in gauging their growth potential in the market and implement key strategies for extending their market reach. This chapter offers key recommendations for both new and existing market participants, enabling them to emerge sustainably and profitably. Intelligence on the market players has been delivered on the basis of their product overview, SWOT analysis, key developments, key financials and company overview. Occupancy of these market participants has been tracked by the report and portrayed via an intensity map.
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some of the prominent players in the automotive braking system market include:
- ZF Friedrichshafen AG
- Akebono Brake Industry Co., Ltd.
- Continental AG
- Brembo S.p.A
- Robert Bosch GmbH
- AISIN SEIKI
- Hyundai Mobis
- WABCO
- Hitachi Ltd.
Automotive Braking System Market Segments
By Vehicle
- Commercial Vehicles
- Passenger Vehicles
By Part Type
- Disc
- Drum
By System Type
- Pneumatic
- Hydraulic
By Sales Channel
- Aftermarket
- Original Equipment Manufacturer (OEM)
Regional Segmentation
- Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia]
- Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland]
- North America [United States, Canada, Mexico]
- South America [Brazil, Argentina, Columbia, Chile, Peru]
- Middle East & Africa [GCC, North Africa, South Africa]
Regional Analysis
The research report includes a detailed study of regions of North America, Europe, China, Japan and Rest of the World. The report has been curated after observing and studying various factors that determine regional growth such as economic, environmental, social, technological, and political status of the particular region. Analysts have studied the data of revenue and manufacturers of each region. This section analyses region-wise revenue and volume for the forecast period of 2019 to 2027. These analyses will help the reader to understand the potential worth of investment in a particular region.
The report provides in-depth segment analysis of the global automotive braking system market, thereby providing valuable insights at macro as well as micro levels. Analysis of major countries, which hold growth opportunities or account for significant share has also been included as part of geographic analysis of the automotive braking system market.
The report includes country-wise and region-wise market size for the period 2019-2027. It also includes market size and forecast by segments in terms of production capacity, price and revenue for the period 2019-2027.
Why should you invest in this report?
If you are aiming to enter the global automotive braking system market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for automotive braking system are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2027 so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
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