Automotive Brake System Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

The Global Automotive Brake System 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.

Automotive Brake System Market Size

Automotive Brake System Market Summary
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Study Period 2018-2028
Base Year For Estimation 2022
CAGR 3.64 %
Fastest Growing Market Asia-Pacific
Largest Market Asia-Pacific
Market Concentration Low

Major Players

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*Disclaimer: Major Players sorted in no particular order

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Automotive Brake System Market Analysis

The automotive brake system market is currently valued at USD 29.86 billion and is forecast to register a CAGR of 3.64% over the next five years.

The short-term impact of COVID-19 on the automotive sector has led to muted assembly plants, manufacturing interruptions, and ceased import and export of components. This resulted in a significant drop in vehicle sales in early 2020, fueled by oil price fluctuations and economic slowdown in various regions. However, since the second half of 2020, the global automotive industry started picking the pace and continued its growth in 2021. However, the global semiconductor shortage hampered the manufacturing output of the global automotive industry. Therefore, the market did not bounce back to its 2019 levels.

Over the long term, a rise in the online sales of vehicles and new product launches shows positive signs to support demand in the market. In addition, concerns about road traffic collisions and the rising number of fatalities have prompted participants to incorporate robust safety systems. The automobile brake system market will continue to grow owing to the stringent safety rules imposed by regulatory organizations and governments. From 2022, the National Highway Traffic Safety Administration (NHTSA), a division of the US Transportation Department, is planning to make automatic emergency braking mandatory in vehicles.

Some other factors driving the market are growing awareness about safe and smooth driving in the wake of increasing road accidents, advanced technology reducing weight and friction generated in vehicles, and R&D activities by major players. On the other hand, the increasing adoption of electric cars and the rising focus on autonomous vehicles are expected to boost the commercial growth potential of manufacturing companies shortly.

Asia-Pacific is the major key player in the market, followed by Europe. Asia-Pacific is likely to possess the highest growth rate, whereas Japan and South Korea are expected to contribute significantly to the growth in terms of revenue in the global anti-lock braking 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 business growth.

The market is also growing due to new launches and capacity expansion by major players. For instance

  • In June 2022, Brakes India announced an investment of INR 100 Crore (USD 1.2 million) at Thervoy Kandigai near Chennai, India, to set up a new automotive braking systems plant.

Automotive Brake System Market Trends

OEM segment of the market is expected to witness prominent growth during the forecast period

Automobile companies are constantly producing new and enhanced products for the comfortable and safe driving of vehicles. Companies are providing anti-lock braking systems integrated 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.

Products such as anti-lock braking systems, electronic stability control, brake-by-wire, and anti-collision devices are frequently developed by players to produce safer and better vehicles. For instance-

  • In May 2022, Akebono Brake Industry Co. Ltd launched the world's first new structure brake caliper in Japan. The new brake caliper would be sold at Toyota's official dealership, GR Garage Urawa Misono, for Toyota Vellfire and Alphard luxury vans.

As brakes have become a crucial part of any vehicle to ensure safety when the demand for speed is increasing consistently, several key companies and automakers are inclined toward embedding high-quality brake systems in their vehicles. This has resulted in automotive braking systems OEMs signing contracts with automobile manufacturers to supply braking systems. For instance,

  • In April 2022, Faraday Future Intelligent Electric Inc. announced Brembo as the main supplier of full brake caliper assembly for its ultimate intelligent tech luxury FF 91 EV. Brembo will provide a specialized caliper assembly for the FF 91. This includes assembly, pistons, calipers, and pads, along with the electronic parking brake.

In the wake of the aforementioned developments and instances, the demand for automotive brake systems is expected to be aggravated by growing R&D activities during the forecast period.

Automotive Brake System market _trend1

Asia-Pacific Region Anticipated to Grow at a Significant Level During the Forecast Period

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 some high-potential countries, such as China and India, which accounted for 21.4 million and 3.6 million, respectively, approximately 34% of the total global 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,

  • In March 2022, Nisshinbo Holdings Inc. announced that it would establish a joint venture company with Continental AG (Continental) in Gurgaon, Haryana, India. The newly established company will produce and sell valve blocks, the main component of electronic brake systems (EBS). The joint venture will be capitalized at approximately JPY 1.9 billion, 60% of which will be owned by Nisshinbo HD and 40% by Continental. The plan is to begin its operation in April 2023.
  • In January 2022, Advics Co. Ltd (Advics) announced that its regenerative coordinated braking system and electric parking brake (EPB) had been selected for the GAC Group's GS8 Hybrid. This is the first time Advics products were supplied to a GAC Group model, and the adoption was based on the company's market experience and performance in electrification products.

Moreover, the rising number of accidents in India has increased safety features, especially in mid-segment vehicles. 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. Several automakers and advanced AEB manufacturers are focusing on several growth strategies. For instance,

  • In 2022, Hyundai announced its plans to keep up with the competition by offering the ADAS safety features in its premium lineup Hyundai Creta soon. The ADAS kit on offer in this segment would constitute Level 2 Autonomous driving assist aids comprised of Automatic Emergency Braking to bring the car to a standstill on obstacle detection and other ADAS features like Adaptive Cruise Control, Lane Keeping Assist, blind-spot monitoring system, etc.

Such developments drive demand in the market; hence, the Asia-Pacific region is expected to have enhanced growth during the forecast period.

Automotive Brake System Market_Geography

Automotive Brake System Industry Overview

The automotive brake system market is fragmented, with various players in the market. Some of the key players in the market include Advics Co. Ltd, Bosch Mobility Solutions, Continental AG, Brembo SpA, and Hitachi Astemo Ltd. The market is driven by vehicle production capacity expansions, joint ventures, and new product launches among the key players. For instance,

  • In June 2022, Akebono Brake Industry Co. Ltd announced that the joint venture agreements of Akebono Corporation (Guangzhou) and Akebono Corporation (Suzhou), its consolidated subsidiaries in China, with ITOCHU Corporation as well as ITOCHU HONG KONG LTD would be dissolved, and a new joint venture agreement would be signed with Fujiwa Machinery Industry (Kunshan) Co. Ltd.
  • In March 2022, BOSCH announced the expansion of its plant in Aguascalientes, which will involve an investment of around USD 84 million in approximately 3,000 square meters of construction, which will generate the conditions to manufacture the new generation of brake systems for its customers in North America.
  • In November 2021, Brembo announced that the company is working on the development of an active brake system, which is expected to be launched by 2024. The new system is drastically different from all other braking systems currently in use in automotive. Each axle in a car is individually controlled (whereas standard cars have all axles braking identically).

Automotive Brake System Market Leaders

  1. Bosch Mobility Solutions

  2. Continental AG

  3. Hitachi Astemo Ltd.

  4. Brembo S.p.A

  5. Akebono Brake Industry Co., Ltd

*Disclaimer: Major Players sorted in no particular order

Automotive Brake System Market Concentration

Automotive Brake System Market News

  • In November 2022, Continental AG received a major contract in the third quarter for the series production of its semi-dry brake system (also known as Future Brake System) valued at about EUR 1.5 billion (USD 1.56 billion) from a major global North American car manufacturer. The production of the system is scheduled to commence in 2025.
  • In October 2022, ADVICS CO. LTD announced a contract to supply more efficient aluminum 6-piston calipers from Mercedes AMG.
  • In September 2022, Brembo SpA announced that it reorganized its aftermarket products into four divisions, namely Brembo Essential (entry-level products), Brembo Prime (premium products), Brembo Beyond (products for alternative mobility), and Brembo Xtra (performance product line).
  • In June 2022, ZF group divested 49% stakes in Brakes India to T V Sundram Iyengar and Sons Private Ltd, Sundaram Finance Holdings Ltd, India Motor Parts and Accessories Ltd, and Flometallic India Private Ltd to comply with the Anti-Trust guidelines of CCI.
  • In March 2022, Continental announced that its Gurgaon plant achieved a remarkable milestone by producing five million Electronic Brake Systems (EBS). The EBS portfolio comprises Electronic Stability Control (ESC) for passenger cars and Anti-lock Brake Systems (ABS) for passenger cars and 2-Wheelers. Its target is to raise the annual EBS production capacity by 25% in the next three years.
  • In March 2022, Ningbo Tuopu Group Co. Ltd announced that customers had accepted its IBS-PRO in the winter calibration test. The IBS (Intelligent Brake System) that has been tested is the 4th-generation product developed by Tuopu Group. Top Group's IBS plant, located in Ningbo City, Zhejiang Province, has advanced manufacturing facilities for SMT (surface mount technology), ECU (electronic control unit) assembly, sensor assembly, solenoid valve assembly, automation assembly, and smart storage. The plant is expected to achieve mass production in August 2022, able to supply parts to 500,000 vehicles per year when running at its full capacity.

Automotive Brake System Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.3.1 Bargaining Power of Suppliers

      2. 4.3.2 Bargaining Power of Buyers

      3. 4.3.3 Threat of New Entrants

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION (Market Size in Value)

    1. 5.1 By Product Type

      1. 5.1.1 Disc Brakes

      2. 5.1.2 Drum Brakes

    2. 5.2 By Brake Pad Material Type

      1. 5.2.1 Organic

      2. 5.2.2 Metallic

      3. 5.2.3 Ceramic

    3. 5.3 By Sales Channel

      1. 5.3.1 Original Equipment Manufacturers (OEMs)

      2. 5.3.2 Aftermarket

    4. 5.4 By Vehicle Type

      1. 5.4.1 Commercial Vehicles

      2. 5.4.2 Passenger Vehicles

    5. 5.5 Geography

      1. 5.5.1 North America

        1. 5.5.1.1 United States

        2. 5.5.1.2 Canada

        3. 5.5.1.3 Rest of North America

      2. 5.5.2 Europe

        1. 5.5.2.1 Germany

        2. 5.5.2.2 United Kingdom

        3. 5.5.2.3 France

        4. 5.5.2.4 Italy

        5. 5.5.2.5 Rest of Europe

      3. 5.5.3 Asia-Pacific

        1. 5.5.3.1 China

        2. 5.5.3.2 India

        3. 5.5.3.3 Japan

        4. 5.5.3.4 South Korea

        5. 5.5.3.5 Rest of Asia-Pacific

      4. 5.5.4 Rest of the World

        1. 5.5.4.1 Brazil

        2. 5.5.4.2 South Africa

        3. 5.5.4.3 Other Countries

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles*

      1. 6.2.1 Akebono Brake Industry Co.

      2. 6.2.2 Brembo SpA

      3. 6.2.3 Robert Bosch GmbH

      4. 6.2.4 Continental AG

      5. 6.2.5 Disc Brakes Australia (DBA)

      6. 6.2.6 Aptiv PLC (Delphi)

      7. 6.2.7 Federal-Mogul Holding Co.

      8. 6.2.8 Hella Pagid GmbH

      9. 6.2.9 Performance Friction Corporation (PFC) Brakes

      10. 6.2.10 TVS Brake Linings Co.

      11. 6.2.11 ZF TRW Co.

      12. 6.2.12 Advics Co. Ltd

      13. 6.2.13 Hitachi Automotive Systems

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

Automotive Brake System Industry Segmentation

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 is segmented by product type, brake pad material type, sales channel, vehicle type, and geography. By product type, the market is segmented into disc brakes and drum brakes. By brake pad material type, the market is segmented into organic, metallic, and ceramic. By sales channel, the market is segmented into original equipment manufacturers (OEMs) and aftermarket. By vehicle type, the market is segmented into passenger vehicles and commercial vehicles. By geography, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. The report offers the market sizes and forecasts in value (USD) for all the above segments. The report also offers the market dynamics, latest trends, size, share, and industry overview.

By Product Type
Disc Brakes
Drum Brakes
By Brake Pad Material Type
Organic
Metallic
Ceramic
By Sales Channel
Original Equipment Manufacturers (OEMs)
Aftermarket
By Vehicle Type
Commercial Vehicles
Passenger Vehicles
Geography
North America
United States
Canada
Rest of North America
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
Rest of the World
Brazil
South Africa
Other Countries

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Automotive Brake System Market Research FAQs

The Automotive Brake System Market is studied from 2018 - 2028.

The Automotive Brake System Market is growing at a CAGR of 3.64% over the next 5 years.

The Automotive Brake System Market is valued at 29 Billion USD in 2018.

The Automotive Brake System Market is valued at 37 Billion USD in 2028.

Asia-Pacific is growing at the highest CAGR over 2018-2028.

Asia-Pacific holds highest share in 2022.

Bosch Mobility Solutions, Continental AG, Hitachi Astemo Ltd. , Brembo S.p.A, Akebono Brake Industry Co., Ltd are the major companies operating in Automotive Brake System Market.

Automotive Brake System Industry Report

Statistics for the 2023 Automotive Brake System market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Automotive Brake System analysis includes a market forecast outlook to for 2023 to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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