|Study Period:||2018 - 2026|
|Fastest Growing Market:||Asia Pacific|
|Largest Market:||Asia Pacific|
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The automotive brake system market was valued at USD 28.81 billion in 2020 and is expected to reach a value of USD 35.71 billion by 2026, registering a CAGR of 3.57% during the forecast period (2021- 2026).
The short-term impact of COVID-19 on the automotive sector has led to the shutting down of assembly plants, manufacturing interruptions, and ceased export of Chinese components in the face of the lockdown situation across the world. This resulted in a significant drop of vehicle sales in early 2020, fueled by oil price fluctuations and economic slowdown in various regions.
Despite the significant impact of the novel coronavirus on the automotive industry, there was a rise in the online sales of vehicles and new product launches to show positive signs of growth in the long run. Some other factors driving the market are growing awareness about the safe and smooth drive-in wake of increasing road accidents, advanced technology reducing weight and friction generated in vehicles, and R&D activities by major players.
Asia-Pacific is the major key player in the market, followed by Europe. Asia-Pacific is the highest growing market in terms of the highest growth rate. Japan and South Korea are expected to contribute significantly to the growth in terms of revenue in the global anti-lock system due to safety norms and firm government regulations. Due to an increase in the number of serious accidents and increased fleet, China is expected to emerge as one of the major regions, which is expected to contribute to the growth of this business.
Scope of the Report
A brake is a mechanical device designed to restrain the motion of a vehicle by absorbing energy from a moving system, usually by means of friction. An automotive brake system is used to stop vehicles within the smallest distance possible by converting kinetic energy into heat energy.
The automotive brake system market report covers the latest trends, the COVID-19 impact, and technological developments in the market. The scope of the report covers segmentation based on product type, brake pad material type, sales channel, vehicle type, and geography.
The market is segmented by product type (disc brakes and drum brakes), brake pad material type (organic, metallic, and ceramic), sales channel (original equipment manufacturers (OEMs) and aftermarket), vehicle type (passenger vehicles and commercial vehicles), and geography (North America, Europe, Asia-Pacific, and Rest of the World). The report offers the market sizes and forecasts in value (USD billion) for all the above segments.
|By Product Type|
|By Brake Pad Material Type|
|By Sales Channel|
|Original Equipment Manufacturers (OEMs)|
|By Vehicle Type|
Key Market Trends
Increased Research Activities to Improve Safety Features
Automobile companies are constantly producing new and enhanced products for the comfortable and safe driving of vehicles. Products such as anti-lock braking systems, electronic stability control, and anti-collision devices are frequently developed by players to produce safer and better vehicles. For instance-
Continental AG developed a third generation of the anti-lock braking system (ABS), which responds to the speeding of vehicles along with providing safer, controllable, and optimum brake performance while driving.
Bosch launched an antilock braking system for e-Bikes, which prevents locking up of the front wheel, along with controlling the lifting of the rear wheel of these bikes.
In addition, anti-lock braking systems are now available with electronic stability control (ESC) to prevent skidding, thus bringing vehicles under control. Therefore, technological advancements in vehicle safety features are a potential driver for the growth of the automotive brake system market.
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Asia-Pacific is Expected to Witness the Highest Growth
The Asia-Pacific region continues to dominate the market, and the manufacturers in this region offer high-cost reductions, owing to the availability of low-cost labor and raw materials. Furthermore, the region comprises countries such as China and India, which accounted for approximately 34% of the total vehicle production. The increasing popularity of active braking systems boosts the sales of luxury and premium vehicles.
The companies are primarily focused on developing eco-friendly, reliable, and robust braking systems. The key players have made heavy investments in the field of research and development to increase their market shares and ensure healthy growth. For instance, Continental North America, a business unit of Continental AG operating in the United States, invested approximately USD 40 million to expand the Morganton automobile plant. The company has also received a job development incentive grant of USD 1.6 million from the State of North Carolina. The added production capacity would be utilized for manufacturing the MK C1 braking systems.
Moreover, the rising number of accidents in India has led to an increase in safety features, especially in mid-level vehicles. In order to minimize such incidents, the Indian government has made it mandatory for all automobile companies to install anti-lock braking systems in their vehicles by April 2019. 2-wheeler models such as Hero Karizma and Bajaj V15 and car models such as Hyundai Eon, Honda Brio, Fiat Punto, Tata Bolt, etc., were discontinued due to the lack of ABS and stringent government emissions and safety norms.
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The automotive brake system market is fragmented with various players existing in the market. Advics Co. Ltd is the leading player in the market. The market is driven by the vehicle production trend, aftermarket replacement rate, and acquisition activities among the key players. Other players in the market include Akebono Brake Industry Co., Brembo SPA, Continental AG, ZF TRW CO., etc. For instance-
The new wheel concept by Continental is designed to assist electric vehicles in regenerative braking by increasing comfort and reducing the cost of ownership.
In November 2019, NRS Brakes Company launched the galvanized brake pads product line. These galvanized brake pads provide rust protection to all the brake parts, including calipers and rotors.
Nissan motor’s Electric Driven Intelligent Brake (EDIB) produces adequate braking force and helps in regenerative braking using a motor that converts kinetic energy into electrical energy during deceleration.
In March 2020, ZF Friedrichshafen AG launched an electric park brake. Through these brakes, small vehicles can be equipped with advanced braking systems, and car manufacturers can do interior designing.
In April 2020, Veoneer announced an initial agreement to divert the US brake control business to ZF Friedrichshafen AG for market expansion across different regions of the world.
Table of Contents
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Buyers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Disc Brakes
5.1.2 Drum Brakes
5.2 By Brake Pad Material Type
5.3 By Sales Channel
5.3.1 Original Equipment Manufacturers (OEMs)
5.4 By Vehicle Type
5.4.1 Commercial Vehicles
5.4.2 Passenger Vehicles
5.5.1 North America
22.214.171.124 United States
126.96.36.199 Rest of North America
188.8.131.52 United Kingdom
184.108.40.206 Rest of Europe
220.127.116.11 South Korea
18.104.22.168 Rest of Asia-Pacific
5.5.4 Rest of the World
22.214.171.124 South Africa
126.96.36.199 Other Countries
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 Akebono Brake Industry Co.
6.2.2 Brembo SpA
6.2.3 Robert Bosch GmbH
6.2.4 Continental AG
6.2.5 Disc Brakes Australia (DBA)
6.2.6 Aptiv PLC (Delphi)
6.2.7 Federal-Mogul Holding Co.
6.2.8 Hella Pagid GmbH
6.2.9 Performance Friction Corporation (PFC) Brakes
6.2.10 TVS Brake Linings Co.
6.2.11 ZF TRW Co.
6.2.12 Advics Co. Ltd
6.2.13 Hitachi Automotive Systems
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Automotive Brake System Market market is studied from 2018 - 2026.
What is the growth rate of Automotive Brake System Market?
The Automotive Brake System Market is growing at a CAGR of 3.57% over the next 5 years.
What is Automotive Brake System Market size in 2018?
The Automotive Brake System Market is valued at 26 Billion USD in 2018.
What is Automotive Brake System Market size in 2026?
The Automotive Brake System Market is valued at 35 Billion USD in 2026.
Which region has highest growth rate in Automotive Brake System Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Automotive Brake System Market?
Asia Pacific holds highest share in 2020.
Who are the key players in Automotive Brake System Market?
Advics Co. Ltd, Akebono Brake Industry Co., Brembo SpA, Hitachi Automotive systems, Robert Bosch GMBH are the major companies operating in Automotive Brake System Market.