Automotive Brake System

Automotive Brake System

The automotive brake systems market refers to the entire industry involved in the designing, manufacturing and distribution of automotive brake systems. This includes various parts such as brake pads, rotor, brake callipers, master cylinder and ABS sensor. Demand for vehicles is increasing globally which has led to growth in vehicle production. As vehicle production has increased which has further increased the demand for automotive brake systems, bringing growth opportunities to the market.

The automotive brake systems market is expected to grow at a strong CAGR of 5 % during the forecast period owing to significant technological advancements such as the use of electric brakes and semi-metallic brake pads. These advancements present new opportunities for market growth and innovation. Moreover, The growing popularity of electric and hybrid vehicles is driving demand for advanced braking systems capable of delivering higher performance and longer life. For instance, on May 12 2023 – Brembo, a global leader in the design and production of high-performance braking systems, inaugurated its latest plant expansion in Escobedo, in the State of Nuevo Léon, Mexico.

• Based on system type, the market is segmented into disc and drum. Amongst these, the drum segment dominated the market in 2021. This is because drum brakes are less costly compared to other types of braking systems, such as disc brakes. This most common choice for low-end vehicles and low-budget consumers.

Additionally, Drum brakes have the most simple designs compared to others which easy to manufacture and maintain. Moreover, Drum brakes are available and can be easily sourced from various suppliers.

• By technology type, the market is segmented into an anti-locking braking system, electronic stability control, electronic brake force distribution, and traction control system. Among these, anti-locking braking system captured the significant share of the automotive brake systems market in 2021. Governments around the world are implementing stricter safety regulations on vehicle safety, which include the use of ABS. Additionally, ABS helps prevent the wheels from locking up during hard braking, which can help prevent accidents and save lives.
• On the basis of vehicle type, the market is segmented into compact passenger vehicle, mid-sized passenger vehicle, premium passenger vehicle, luxury passenger vehicle, light commercial vehicle, and heavy commercial vehicle. The mid-sized passenger vehicle held a significant share of the automotive brake systems market in 2020. Mid-sized passenger vehicles are among the most popular vehicle segments in the global market, due to their size, comfort, and fuel efficiency. As a result, there is high demand for brake systems in this segment
• For a better understanding of the market adoption of the automotive brake systems industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, UK, Italy, France, Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific), Rest of World. North America dominated the automotive brake systems market in 2020 because the automotive industry in North America is one of the most advanced and technologically updated in the world. This region is held by many major automotive manufacturers, such as General Motors, Ford, and Fiat Chrysler Automobiles (FCA), which produce a wide range of vehicles, including those with advanced braking systems. Moreover, the North American market is characterized by favourable market conditions, such as high consumer spending power, a large middle class, and high demand for advanced technologies. This has created a favourable environment for the growth of the automotive brake systems market.
• Some of the major players operating in the market include Advics Co. Ltd., ZF Friedrichshafen AG, Akebono Brake Industry Co., Hitachi Automotive System, Brembo SpA, Robert Bosch GmbH, Aisin Seiki Co.Ltd., Haldex, Mando Corp., and Nissin Kogyo Co. Ltd.