Brake System Market Forecasts to 2028 – Global Analysis By Brake Type (Drum, Disc and Other Brake Types), Technology (Traction Stability Control (TCS), Antilock Braking Systems (ABS) and Other Technologies), Vehicle Type (Truck, Passenger Car and Other ve

Brake System Market Forecasts to 2028 – Global Analysis By Brake Type (Drum, Disc and Other Brake Types), Technology (Traction Stability Control (TCS), Antilock Braking Systems (ABS) and Other Technologies), Vehicle Type (Truck, Passenger Car and Other vehicle types), Actuation (Pneumatic and Hydraulic), Off-highway Brake Type, Off-highway Application, Brake Pad Material, End User and By Geography

According to Stratistics MRC, the Global Brake System Market is accounted for $22.2 billion in 2022 and is expected to reach $32.9 billion by 2028 growing at a CAGR of 6.8% during the forecast period. A braking system is a method of bringing a vehicle to a complete stop. Brakes normally use friction between two surfaces to convert the kinetic energy of the vehicle into heat, which causes the vehicle to stop. The mechanism that uses artificial resistance to slow or stop a moving body is known as a brake system. Various ways are used to generate the friction required to stop the vehicle. The most important concern when designing any brake system is the management of heat energy generated, which could otherwise injure the vehicle or the brake system.

According to Repair Smith, the average cost of ABS sensor replacement is USD 150–400 and USD 90–USD 200 for brake fluid replacement. Further, the replacement of critical components like master cylinders, rotors, calipers, drums, pads, and cylinders can cost around USD 750–1,000.

Market Dynamics:

Driver:

Inclusion of advanced brake systems

The use of electronic braking systems such as Anti-lock Brake Systems (ABS), Brake Assist (BA), and Electronic Brakeforce Distribution (EBD) can assist in reducing stopping distance. ABS improves vehicle stability and steering control while also assisting in reducing stopping distance during severe braking. This is one of the most significant advantages of ABS over conventional braking systems. ABS, according to the Royal Society for the Prevention of Accidents (ROSPA), ensures that a vehicle can be brought to a stop in the smallest possible distance. BA is based on a vehicle's ABS technology and is typically used in conjunction with ABS. As a result of the legal criteria for vehicle safety, the usage of ABS and BA is likely to increase in the next years.

Restraint:

High development and maintenance costs

General brake system maintenance is costly; for example, a periodic brake system service comprises replacing brake fluid, brake shoes, brake pads, resurfacing rotors, and cleaning, adjusting, and lubricating other costly braking components. The sensors on each wheel of an ABS might cost hundreds of dollars to replace. Furthermore, key components such as master cylinders, rotors, callipers, drums, pads, and cylinders can cost between USD 750 and $1,000 to replace. In cost-sensitive countries such as India and Brazil, advanced electronic systems are typically seen in high-end vehicles.

Opportunity:

Government regulations to make advanced emergency braking systems mandatory

To prevent automobile crashes, more than 40 countries agreed to a drafted United Nations Regulation for Advanced Emergency Braking (AEB) systems for cars and light vehicles. The EU has modified Regulation No. 152-00 to include AEB systems for light passenger and commercial vehicles. The rule requires car makers to integrate AEB in all new automobiles. The legislation also requires vehicles to be tested at 60 mph to ensure that AEB systems are properly deployed. The Advanced Emergency Braking (AEB) system is becoming more widespread, owing to government laws making it a required component in vehicle models. AEB assists in avoiding future collisions, reducing collision intensity, increasing braking force, and being efficient on both urban and highway roads.

Threat:

Air brake freeze-ups

Heavy-duty vehicles, such as trucks and trailers, can experience air brake freezing. Moisture in the lines or brake shoes is the most typical cause of caravan brake freezing. Air brake freeze-ups are particularly common in the winter, and they require significant effort to repair. And, if the car has ABS, moisture can be a significant issue for the brake system's operation. When there is moisture, the ABS valves can collect moisture, freeze, and cause the brakes to fail. As stability control has become a regular feature in new vehicles in industrialised countries such as Europe and North America, controlling moisture in trailer brake lines is critical. Thus, air brake freeze-ups can be inconvenient in the winter, particularly for heavy-duty automobiles.

Covid-19 Impact

The pandemic had a significant detrimental influence on the brake system market. COVID-19's impacts included a shortage of goods and subcontractors, supply chain interruptions, and contract terminations in an effort to cut costs. Public and business sector laws and initiatives to reduce COVID-19 transmissions, such as travel restrictions and the adoption of remote working, have an influence on global operations. Trade restrictions, export limits, and other similar policies imposed by the national government also had a negative impact on the marketability of a variety of items. COVID-19 also had an influence on suppliers' and vendors' ability to offer goods and services.

The hydraulic brake segment is expected to be the largest during the forecast period

The hydraulic brake segment is estimated to have a lucrative growth, due to the increased production of passenger automobiles and light commercial vehicles (LCVs) is pushing the expansion of hydraulic brake systems. Benefits such as better heat dissipation than mechanical brakes, improved braking power transmission, compact size, and ease of repair due to readily available brake parts in the aftermarket are instrumental in increasing hydraulic brake system penetration in the global brake system market during the forecast period.

The agriculture equipment segment is expected to have the highest CAGR during the forecast period

The agriculture equipment segment is anticipated to witness the fastest CAGR growth during the forecast period, due to higher global sales of agricultural tractors in contrast to construction equipment. Increasing farm mechanisation in Asia Pacific is likely to drive the Off-highway agricultural equipment market significantly during the forecast period.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to increased automobile demand and strong growth in the automotive sector. The region's demand for passenger cars has increased as disposable income has increased and living conditions have improved. The implementation of severe government laws concerning vehicular safety, as well as technical improvements, is factors that are likely to generate growth prospects in the region during the projection period.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period, owing to increased farm mechanisation and an increase in the number of off-road sports events/championships. The global increase in ATV sales is projected to drive the ATV brake system market. In the worldwide ATV market, North America accounts for more than 60-62% of the overall market. Furthermore, the United States and Canada contributed for roughly 70-75% of overall ATV production in the region.

Key players in the market

Some of the key players profiled in the Brake System Market include Haldex, Hitachi Automotive System, Advics Co. Ltd., Nissin Kogyo Co. Ltd., ZF Friedrichshafen AG, Aisin Seiki Co. Ltd., Robert Bosch GmbH, Akebono Brake Industry Co., Brembo SpA, Web co and TRW.

Key Developments:

In March 2021, Brembo introduced its new Brembo Sport | T3 brake disc. ?The new Brembo Sport | T3 disc is a direct replacement for original equipment discs and has two easily recognizable elements that distinguish it from the previous version - the use of Type3 slotting and the Brembo logo engraved on the braking surface.

In November 2020, TRW (ZF’s aftermarket brand) product portfolio for the independent aftermarket was further expanded in the two-piece brake disc segment. These brake discs are now also available for various Mercedes-Benz C- and E-Class models. Additional references for S-Class and GLC models of the Stuttgart premium manufacturer will follow in mid-2021.

In March 2020, ZF launched an industry-first Front Electric Park Brake, extending the range of Electric Park Brake (EPB) systems to a wider range of vehicles. With this solution, car manufacturers can now equip smaller vehicles with an advanced braking system and design their interior without the classic handbrake lever or park brake pedal.

In June 2018, Akebono Brake Industry Co., Ltd. developed the world's first ""new construction brake caliper."" The new brake caliper is based on the construction of the existing product, the AD-Type disc brake, and has been modified extensively to meet specific requirements for automobiles that use electric power sources and to be friendlier to the global environment.

Brake Types Covered:
• Drum
• Disc
• Hydraulic Wet Brake
• Hydrostatic Brake
• Regenerative and Dynamic Brake
• Other Brake Types

Technologies Covered:
• Traction Stability Control (TCS)
• Antilock Braking Systems (ABS)
• Electronic Brakeforce Distribution (EBD)
• Electronic Stability Control (ESC)
• Electronic Brake System
• Other Technologies

Vehicle Types Covered:
• Truck
• Passenger Car
• Light-Commercial Vehicles (LCV)
• Bus
• Heavy Commercial Vehicles (HCV)

Actuations Covered:
• Pneumatic
• Hydraulic

Off-highway Brake Types Covered:
• Hydrostatic Brake
• Hydraulic Wet Brake
• Dynamic Brake
• Other Off-highway Brake Types

Off-highway Applications Covered:
• Agricultural Tractors
• Construction Equipment
• Mining Equipment

Brake Pad Materials Covered:
• Metallic
• Organic
• Ceramic

End Users Covered:
• Agriculture Equipment
• Automotive
• Mining Equipment
• Construction Equipment
• Industrial Truck
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements