Automotive
Brake is a mechanical device used to slow or stop a moving vehicle usually
achieved by method of friction. A brake system consist of various parts such as
brake liners, brake shoe, tandem Master Cylinder, brake caliper, brake pads,
drum, brake booster, piston, rotor, connecting tube and ports. These
On the
basis of mechanical type, the brake system is divided into disc brake and drum
brake. Disc brakes are usually used in passenger cars and two-wheeler whereas
drum brakes are commonly used in commercial vehicles. The global automotive brake system
market has reached 298 million units globally.
On 23
January, 2017, Brembo – a company in automotive brake system got ECE- R90
certification for the entire brake range systems which establish a new quality
standard for aftermarket disc brakes and drums. Moreover, on 6 November 2012,
Haldex signed a global supply agreement for the Automatic Brake Adjuster.
Market Size and Forecast
Riding on
the back of growing automobile industry, automotive
brake systems market is anticipated to reach USD 37.68 billion globally by
2024. Further, global automotive brake system market is expected to grow at
a CAGR of 7.02% over the forecast period. Rising demand of passenger
automobiles is expected to foster the demand for more accurate and reliable
brake system which in turn is expected to boost the market.
Geographically,
Asia-Pacific has been a leading market for automotive Brake system in terms of
market demand and is anticipated to have its dominance over the forecast period
due rising demand and production of automobiles. Moreover, middle class
population explosion, flexible finance options, better quality of living and
expanding trade ventures in the emerging markets are the key factors driving
the automotive brake system market in Asia-Pacific region. The major countries witnessing
the augmented demand in terms of production and sales of automobiles are China,
Japan, India and South Korea which is expected to bolster the automotive brake
system market within the region over the forecast period. Further, Asia-Pacific
is expected to the most competitive market owing to presence of large number of
automotive brake system manufacturers of automotive brake system.
Furthermore,
Asia-Pacific is anticipated to be trailed by Europe and North-America. Europe
is expected to maintain second position over the forecast period. Factors like
government regulation and initiatives to improve vehicle safety are expected to
bolster the demand of improved automotive brake system market.
Rising demand for disc brakes in commercial vehicles and better traction
control system is the major driving factor for technological advancement of
automotive brake system in European Union.
North
America is anticipated to raise the automotive brake system market. Middle East
and Africa is expected to show the highest growth rate over the forecast
period. Increasing GDP of the countries and rising demand of passenger
automobiles is expected to garner Middle East and Africa brake system market.
Likewise,
Latin America is also expected to show rise in automotive brake system market
owing to increase sales of automobiles.
Market Segmentation
Our
in-depth analysis segmented the global automotive brake system market in the
following segments:
By Type
·
Disc
Brake
·
Drum
Brake
By Method
of Power
·
Hydraulic
Braking System
·
Mechanical
Braking System
·
Air
braking System
·
Vacuum
Braking System
·
Magnetic
Braking System
·
Electrical
Braking System
By
Technology
·
Antilock
Braking System (ABS)
·
Electronic
Stability Control (ESC)
·
Traction
Control System (TCS)
·
Electronic
Brake-Force Distribution (EBD
By
Vehicle Class
·
Two
Wheeler
·
Passenger
Car
·
Light
Commercial Vehicle
·
Heavy
Commercial Vehicle
·
Others
( construction & Agriculture)
Growth Drivers and Challenges
Increasing
vehicle production, burgeoning middle class population and rising disposable
income are the major factors driving the growth of global automotive brake
system market. Further, advance technology such as electronic stability control
is envisioned to bolster the global automotive brake system market over the
forecast period. Moreover, amendments in government regulations for better
safety are expected to drive the market over the forecast period.
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However,
higher price of advance technologies like magnetic braking system and electric
braking system is likely to hamper the growth of global automotive brake system
market. Moreover, lofty price of repair and maintenance of technological
advance brakes is anticipated to hinder the growth of automotive brake system
market.
Key players
·
TRW
Automotive Holdings
·
Continental
AG
·
Federal-Mogul
Holdings Corporation
·
Haldex
AB.
·
Valeo
·
Brembo
S.P.A
·
Hyundai
Mobis,
·
Halla
Mando Corp
·
Aisin-Seiki
Co. Ltd
·
EBC
Brakes
Scope and
Context
Overview
of the Parent Market
Analyst
View
Segmentation
The Global
Automotive brake system Market is segmented as follows:
·
By
Type Market Size & Y-O-Y Growth Analysis
·
By
Method of Power Market Size & Y-O-Y Growth Analysis
·
By
Technology Market Size & Y-O-Y Growth Analysis
·
By
Vehicle Class Market Size & Y-O-Y Growth Analysis
·
By
Region Market Size & Y-O-Y Growth Analysis
Market
Dynamics
Supply
& Demand Risk
Competitive
Landscape
Porter’s
Five Force Model
Geographical
Economic Activity
Key
Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent
Trends and Developments
Industry
Growth Drivers and Challenges
Key
Information for Players to establish themselves in current dynamic environment
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more about this research, kindly visit:
For Table of Content &
Free Sample Report Contact:
Ajay
Daniel
Email:
ajay.daniel@researchnester.com
U.S. +1 646 586 9123
U.K. +44 203 608 5919
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