Automotive Braking System

Automotive Braking System

Global Automotive Braking System Market to Reach US$36.9 Billion by 2030

The global market for Automotive Braking System estimated at US$26.6 Billion in the year 2023, is expected to reach US$36.9 Billion by 2030, growing at a CAGR of 4.8% over the analysis period 2023-2030. Antilock Braking System (ABS), one of the segments analyzed in the report, is expected to record a 4.6% CAGR and reach US$12.8 Billion by the end of the analysis period. Growth in the Traction Control System (TCS) segment is estimated at 3.9% CAGR over the analysis period.

The U.S. Market is Estimated at US$7.1 Billion While China is Forecast to Grow at 7.2% CAGR

The Automotive Braking System market in the U.S. is estimated at US$7.1 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$8.0 Billion by the year 2030 trailing a CAGR of 7.2% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 2.5% and 4.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.6% CAGR.

Global Automotive Braking System Market - Key Trends & Drivers Summarized

Why Are Automotive Braking Systems Crucial for Vehicle Safety?

Automotive braking systems are the most critical safety feature in any vehicle, providing drivers with the ability to control and stop the vehicle when necessary. Modern braking systems are far more advanced than traditional hydraulic brakes, incorporating technologies like anti-lock braking systems (ABS), electronic stability control (ESC), and automatic emergency braking (AEB) to enhance vehicle safety. As vehicles become more powerful and faster, the importance of high-performance braking systems has grown, particularly in reducing stopping distances and preventing accidents. With road safety regulations becoming increasingly stringent, automotive braking systems are evolving to meet new performance standards.

How Are Advancements in Technology Shaping the Automotive Braking System Market?

Technological innovations are transforming the automotive braking system market, making braking systems more efficient, responsive, and integrated with other vehicle systems. Electronic braking systems, such as brake-by-wire, are replacing traditional mechanical linkages with electronic controls, offering faster and more precise braking response. Regenerative braking systems, particularly in electric vehicles (EVs), are becoming a key focus for automakers, as these systems recover energy during braking to improve overall vehicle efficiency. Additionally, the integration of advanced driver assistance systems (ADAS) with braking systems, such as automatic emergency braking (AEB) and collision avoidance, is significantly enhancing vehicle safety and performance.

What Regulatory Standards Drive the Adoption of Automotive Braking Systems?

Regulatory frameworks are critical in driving the adoption of advanced automotive braking systems, particularly as governments push for improved road safety. In many regions, ABS and ESC are mandatory in all new vehicles, with the European Union and the United States leading the charge in enforcing these standards. Automatic emergency braking (AEB) is also becoming a required feature in many countries, as it plays a key role in reducing rear-end collisions. These regulatory requirements are pushing automakers to adopt more sophisticated braking technologies, ensuring compliance and improving the overall safety of vehicles on the road.

What Factors Are Driving the Growth of the Automotive Braking System Market?

The growth in the automotive braking system market is driven by several factors, including the increasing emphasis on vehicle safety, the rising production of electric and hybrid vehicles, and the growing demand for advanced driver assistance systems (ADAS). As safety regulations become more stringent, automakers are incorporating features such as ABS, ESC, and AEB as standard in their vehicles. The shift toward electric vehicles is also creating new demand for regenerative braking systems, which help improve energy efficiency and extend vehicle range. Additionally, the rise of autonomous driving technologies, which rely heavily on precise and reliable braking systems, is contributing to the market’s expansion.

Select Competitors (Total 43 Featured) -

• Aisin Seiki Co, Ltd.
• Akebono Brake Industry Co. Ltd.
• Brembo S.P.A.
• Continental AG
• Halla Mando Corp.
• Knorr-Bremse AG
• Robert Bosch GmbH
• TRW Automotive Holdings Corp.
• Wabco Holdings, Inc.
• ZF Friedrichshafen AG

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