17th Sept 2020 - Global Automotive Brake Systems Market is predicted to reach USD 31.11 billion by 2025 owing to the increasing vehicle production due to the growing demand from consumers. Automotive brake systems are the technologies that combine brake controls and sensors to avoid high-speed road accidents. Some automotive brake systems are designed to simply reduce the speed of vehicles before hitting a roadblock while some brake systems completely avert the mishaps. Since high-speed collisions are more dangerous than the low-speed collisions, automotive braking systems saves lives and reduces the vehicle damage during a mishap.
Most systems offer braking support to the driver while others adeptly activate the brakes with no driver input. 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.
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The automotive brake systems market comprises disc brakes and drum brakes. The disc brakes include a rotor or a disc, disc brake pads, a caliper assembly, the wheel bearings and the hardware required to organize the components on the vehicle. The master cylinders are connected to the caliper through tubes, valves and hoses that conduct brake fluid via system. The drum brakes include a drum and backing plate, an axle assembly or a hub, wheel cylinder, wheel bearings, brake shoes and hardware required to organize these components on the vehicle. The master cylinder is connected to the wheel cylinder via tubes, valves and hoses that conduct brake fluid via system.
The ever-growing demand and successive production of vehicles are regarded as major drivers for the rising demand of automotive brakes. Additionally, the rising governmental obligations concerning the improvement of vehicle safety is intensely contributing to the growth of market. However, the high cost of enhanced technology of EBS (Electronic Brake Systems) as compared to the very common hydraulic brakes is a major obstacle in the growth of market. Currently, the automotive industry across globe has presented positive signs of recovery recently. Purchase of semi-luxury and luxury high performance vehicles has grown considerably in the past years. Consequently, the demand for the efficient brake system for vehicles like passenger cars, heavy & light commercial vehicles and the two-wheelers are continuously on the rise. This in turn is expected to contribute largely to the growth of automotive brake systems market in the forecast period.
Global Automotive Brake System Market is classified on the basis of brake type, technology, application and geography. On the basis of brake type, market is segmented as drum brake and disc brake. Disc brake is predicted to dominate market owing to the increasing safety regulations by the government. On the basis of technology, the automotive brake system market is divided into ABS (Anti-lock Braking System), TCS (Traction Control System), ESC (Electronic Stability Control), and others. Traction control system is predicted to dominate automotive brake systems market in forecast period due to the increasing technology in the brake systems.
The key players actively involved in the automotive brake systems market are Akebono Brake Industry Co., ZF Friedrichshafen AG, Aisin Seiki, Continental AG, Brembo SpA, Knorr-Bremse AG, Knorr-Bremse AG, Robert Bosch GmbH, Wabco Holdings Inc, and Mando Corporation.
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Regional Outlook (Revenue, USD Million; 2014 - 2025)
- North America
- Asia Pacific
- South America
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