Automotive Brake System Market: Current Analysis and Forecast (2022-2030)
Emphasis on System Type (Disc and Drum); Vehicle Type (Compact Passenger Vehicle, Mid-Sized Passenger Vehicle, Premium Passenger Vehicle, Luxury Passenger Vehicle, Light Commercial Vehicle, and Heavy Commercial Vehicle and Technology Type (Anti-Locking Braking System, Electronic Stability Control, Electronic Brake Force Distribution, and Traction Control), and Region/Country
The Automotive Brake System Market was valued at USD 45.3 billion in 2021 & is expected to grow at a CAGR of 5.0% from 2022-2030. Owing to the production of vehicles which is increasing globally and with it, the demand for automotive brake systems. The automotive industry is witnessing rapid technological advancements, and this has led to the development of new and advanced braking systems. These systems offer improved performance, increased safety, and reduced environmental impact. For instance, on 19 October 2022 Brembo, the global leader in the development and production of braking systems, launches Brembo Ventures. This venture capital unit aims to accelerate the development of innovative solutions for the mobility of tomorrow.
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. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst system type, the disc segment to have significant growth of the market in 2021.”
Based on system type, the market is segmented into disc and drum. Amongst these, the smart appliances segment dominated the market in 2021. This is because disc brakes provide improved braking performance compared to traditional drum brakes. They offer better stopping power, shorter stopping distances, and an improved brake feel. This has contributed to the growth of the disc segment in the automotive brake systems market.
“Amongst technology type, the traction control system to have significant growth of the market in 2021.”
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, traction control system technology is to have a significant growth rate in the automotive brake systems market in 2021. The major share of the wireless automotive brake systems technology can be attributed to the ability to improve vehicle stability by preventing the wheels from spinning and reducing the risk of skidding or loss of control. This is particularly important in adverse driving conditions such as slippery roads or wet weather.
“Asia Pacific to have significant growth rate in the automotive brake systems market in 2021.”
The Asia Pacific region is expected to have significant growth in the automotive brake systems market due to thre increasing vehicle production, growing middle class, and technological advancements. Additionally, Due to stringent safety regulations, the demand for advanced brake systems that meet these regulations is expected to drive the growth of the market in the region. The leading automotive brake system manufacturers in the Asia Pacific region are investing in research and development to introduce new and advanced braking systems, which are expected to contribute to the growth of the market. Overall, the automotive brake systems market in the Asia Pacific region is poised for significant growth in the coming years.
Automotive Brake Systems Market Report Coverage
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
The global automotive brake systems market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Research Methodology for the Automotive Brake Systems Market Analysis (2022-2030)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global automotive brake systems market were the three major steps undertaken to create and analyze the adoption of automotive brake systems in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global automotive brake systems market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the automotive brake systems market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the automotive brake systems market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as product, technology, and end-users. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the automotive brake systems market. Further, we conducted factor analysis using dependent and independent variables such as product, technology, and end-users of the automotive brake systems market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the automotive brake systems market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global automotive brake systems market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the automotive brake systems market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global automotive brake systems market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global automotive brake systems market. data was split into several segments & sub-segments post studying various parameters and trends in the areas of the product, technology, and end-users in the global automotive brake systems market.
The main objective of the Global Automotive Brake Systems Market Study
The current & future market trends of the global automotive brake systems market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the automotive brake systems market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of the vehicle type, technology type, and system type.
- Define and analysis of the regulatory framework for the automotive brake systems industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of the automotive brake systems market for the major region
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
- Company profiles of the automotive brake systems market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
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