How big is the Global Automotive Brake System market?
According to MarkNtel Advisors study, The Global Automotive Brake System Market size was valued at around USD 23.25 billion in 2023 and is estimated to grow at a CAGR of about 6.1% during the forecast period, i.e., 2024-30.
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Global Automotive Brake System Market Driver:
Increasing Adoption of ABS by Automotive Manufacturers to Amplify Market Growth – Road Accidents are common in several regions and these accidents are one of the leading causes of deaths across the globe. Based on a survey by the World Health Organization (WHO), every year more than 1 million individuals die due to road accidents. These accidents are majorly caused by overspeeding & vehicle component failure. Therefore, it has become of utmost importance for individuals to look for vehicles that ensure safety. As a result, several automotive manufacturers are increasingly adopting automotive brake systems since these barking systems provide better performance than conventional brakes. In addition, these accidents impact the individuals economically & emotionally. Therefore, the governing authorities are encouraging automotive manufacturers to adopt technologically advanced systems that ensure the safety of individuals. Therefore, the automakers are increasingly incorporating these advanced brakes within their vehicles, enhancing the Global Automotive Brake System market.
In addition, the awareness among consumers regarding their own safety is also generating the demand for vehicles equipped with these advanced systems. Therefore, to cater to this growing demand, automakers would continue to install these brakes into their newly launched & existing vehicle modes, uplifting the Global Automotive Brake System market in foreseen years as well.
Leading Companies in the Global Automotive Brake System market:
- Brembo S.p.A.
- Continental AG
- ZF Industrial Technology Division
- Robert Bosch Gmbh
- Akebono Brake Industry Co., Ltd.
- Aisin Seiki Co., Ltd.
- Hitachi Astemo Ltd.
- Knorr-Bremse Ag
- Haldex Ab
- Denso Corporation
- Mando Corporation
- Hyundai Mobis Co., Ltd.
- Wuhan Youfin Auto Parts Co., Ltd.
- Bethel Automotive Safety System Co., Ltd. (WBTL)
- Beringer
- Others
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Global Automotive Brake System Market Segmentation:
By Brake Type
- Disc Brakes- Market Size & Forecast 2019-2030, (USD Million)
- Drum Brakes- Market Size & Forecast 2019-2030, (USD Million)
- Hydrostatic Brakes- Market Size & Forecast 2019-2030, (USD Million)
- Hydraulic Wet Brakes- Market Size & Forecast 2019-2030, (USD Million)
- Dynamic Brakes- Market Size & Forecast 2019-2030, (USD Million)
- Others- Market Size & Forecast 2019-2030, (USD Million)
By Technology
- Anti-lock Braking System (ABS)- Market Size & Forecast 2019-2030, (USD Million)
- Electronic Stability Control (ESC)- Market Size & Forecast 2019-2030, (USD Million)
- Traction Control System (TCS)- Market Size & Forecast 2019-2030, (USD Million)
- Electronic Brakeforce Distribution (EBD)- Market Size & Forecast 2019-2030, (USD Million)
- Automatic Emergency Braking (AEB)- Market Size & Forecast 2019-2030, (USD Million)
By Vehicle Type
- Passenger Cars- Market Size & Forecast 2019-2030, (USD Million)
- Light Commercial Vehicles- Market Size & Forecast 2019-2030, (USD Million)
- Trucks- Market Size & Forecast 2019-2030, (USD Million)
- Buses- Market Size & Forecast 2019-2030, (USD Million)
By Actuation Type
- Hydraulic- Market Size & Forecast 2019-2030, (USD Million)
- Pneumatic- Market Size & Forecast 2019-2030, (USD Million)
By Component
- Master Cylinders- Market Size & Forecast 2019-2030, (USD Million)
- Brake Pads- Market Size & Forecast 2019-2030, (USD Million)
- Brake Shoes- Market Size & Forecast 2019-2030, (USD Million)
- Brake Calipers- Market Size & Forecast 2019-2030, (USD Million)
- Brake Disc Rotors- Market Size & Forecast 2019-2030, (USD Million)
By Electric Vehicle Type
- Battery EVs- Market Size & Forecast 2019-2030, (USD Million)
- Plug-in Hybrid EVs- Market Size & Forecast 2019-2030, (USD Million)
By Application
- Agricultural Tractors- Market Size & Forecast 2019-2030, (USD Million)
- Construction Equipment- Market Size & Forecast 2019-2030, (USD Million)
- Mining Equipment- Market Size & Forecast 2019-2030, (USD Million)
Regional/ Countries Insight:
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
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Gain a Competitive Edge with Market Research Report
- The Global Automotive Brake System Market Report by MarkNtel Advisors offers a detailed analysis of the market size, growth rate, competitive landscape, and key players, allowing businesses to gain a comprehensive understanding of market dynamics.
- Businesses can utilize the report to identify emerging opportunities and potential challenges in the market by highlighting current trends and providing future projections.
- The insights provided in the report enable companies to align their strategies based on market forecasts, ensuring they can stay ahead of the competition and make informed decisions.
- Apart from market trends and projections, the Global Automotive Brake System Market Report assists in assessing and mitigating risks associated with entering or operating in the market
- By understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategic approaches to minimize risks and optimize their operations, enhancing their competitive edge in the market.
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