Demand for Electric and Hybrid Vehicles has Propelled the Growth of the Automotive Brake System Market in the APAC Region!

The demand for electric and hybrid vehicles in the Asia Pacific region is one of the key drivers of the automotive brake system market. Governments in the region have implemented stringent emission regulations to reduce air pollution, which has led to an increase in demand for vehicles that produce lower emissions. Electric and hybrid vehicles are among those vehicles which meet these regulations, and as a result, their sales have increased. Advanced brake systems are required for electric and hybrid vehicles to meet their specific requirements, which has led to an increase in demand for these systems. Electric and hybrid vehicles have fewer moving parts compared to traditional internal combustion engine vehicles, which means they require less maintenance.

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Additionally, electric and hybrid vehicles do not require regular oil changes, which further reduces maintenance costs. The growing middle class in the Asia Pacific region is also driving the demand for personal transportation. This has led to an increase in the sales of vehicles in the region, which has in turn led to an increase in demand for advanced brake systems.

Further, the APAC Automotive Brake System Market is expected to grow at a strong CAGR of 5.0% during the forecast period (2022-2030F). The demand for electric and hybrid vehicles in the Asia Pacific region is boosting the growth of the automotive brake system market by driving the adoption of advanced brake systems that meet the specific requirements of these vehicles. This, in turn, is leading to increased demand for these vehicles and the associated brake systems.

FIG. 1 APAC Automotive Brake System Market Revenue (2020-2030)- USD Mn

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 simplest 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.

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Global Automotive Brake System Market Segmentation

Market Insight, by System Type

• Disc
• Drum

Market Insights, by Technology Type

• Anti-Locking Braking System
• Electronic Stability Control
• Electronic Brake Force Distribution
• Traction Control System

Market Insights, by Vehicle Type

• Compact Passenger Vehicle
• Mid-Sized Passenger Vehicle
• Premium Passenger Vehicle
• Luxury Passenger Vehicle
• Light Commercial Vehicle
• Heavy Commercial Vehicle

Market Insight, by Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Rest of Europe
• APAC
  • China
  • Japan
  • India
  • Rest of APAC
• Rest of the World

Top Company Profiles

• 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.
• Nissin Kogyo Co. Ltd.