The automotive brake systems global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Automotive Brake Systems Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The automotive brake systems market size has grown strongly in recent years. It will grow from $35.57 billion in 2023 to $38 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to safety regulations, consumer demand, global vehicle production, economic factors, aftermarket demand.
The automotive brake systems market size is expected to see strong growth in the next few years. It will grow to $50.55 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to electric and hybrid vehicles, autonomous vehicles, environmental regulations, connected vehicle technology, emerging markets, energy efficiency, globalization of the market. Major trends in the forecast period include advanced driver assistance systems (adas), lightweight and high-performance materials, brake-by-wire technology, connected brake systems, industry partnerships.
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Scope Of Automotive Brake Systems Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
The rising demand for passenger and commercial vehicles is expected to drive the automotive brake systems market. Rapid growth in disposable income among individuals in both developing and developed countries and growing demand for a personal vehicle for daily commute to work has contributed to rapid growth in demand for passenger and commercial vehicles. The rapid growth in demand for passenger and commercial vehicles is expected to the boost utilization of automotive brake systems, as they are a vital component in the manufacturing of automotive vehicles. For Instance, In June 2021, according to a report from OICA (International Organization of Motor Vehicle Manufacturers), global passenger car sales increased from 53 million in 2020 to 56 million. Similarly, commercial vehicle sales increased from 24 million in 2020 to 26 million in 2021. Therefore, the increased demand for passenger and commercial vehicles is expected to boost demand for automotive brake systems during the forecast period.
Market Trends –
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
The automotive brake systems market covered in this report is segmented –
1) By Product Type: Disc Brakes, Drum Brakes
2) By Technology: Antilock Braking Systems (ABS), Electronic Stability Control (ESC), Traction Stability Control (TCS), Electronic Brakeforce Distribution (EBD)
3) By Sales Channel: Original Equipment Manufacturers (OEMs), Aftermarket
4) By Vehicle Type: Passenger Car, Light-commercial Vehicles (LCV), Truck, Bus
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Regional Insights –
Asia-Pacific was the largest region in the automotive brake system market in 2023. The regions covered in the automotive brake systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the automotive brake systems market report are Advics Co. Ltd., Aisin Seiki Co. Ltd., Akebono Brake Industry Co. Ltd., Brembo SpA, Continental AG, Robert Bosch GmbH, ZF Friedrichshafen AG, Federal-Mogul Motorparts LLC, Bendix Commercial Vehicle Systems LLC, Knorr-Bremse AG, WABCO Holdings Inc., Mando Corporation, Haldex AB, Thompson Ramo Wooldridge Inc., Nissin Kogyo Co Ltd., Meritor Inc., Advanced Braking Technology Ltd., TMD Friction Holdings GmbH, Midwest Air Technologies Inc., Nisshinbo Holdings Inc., ADVICS CO. LTD., FTE automotive Group, Hella Pagid GmbH, Endless Co. Ltd., Bremskerl Reibbelagwerke Emmerling GmbH & Co. KG, Brembo SpA, Performance Friction Corporation, Arc Remanufacturing Inc., Muller Brakes America Inc., Allgemeine Technische Entwicklungen GmbH
Table of Contents
1. Executive Summary
2. Automotive Brake Systems Market Report Structure
3. Automotive Brake Systems Market Trends And Strategies
4. Automotive Brake Systems Market – Macro Economic Scenario
5. Global Automotive Brake Systems Market Size and Growth
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31. Global Automotive Brake Systems Market Competitive Benchmarking
32. Global Automotive Brake Systems Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Automotive Brake Systems Market
34. Automotive Brake Systems Market Future Outlook and Potential Analysis
35. Appendix
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