Automotive Brake System Market by Components (Pads, Rotors, Calipers, and Drum), by Type (Disk, Drum, Hydraulic Wet, Rheostatic, and Regenerative), by Actuation Type (Hydraulic, and Pneumatic), by Technology (Anti-lock Braking System (ABS), Electronic Stability Control (ESC), and Regenerative Braking), by Vehicle Type (Passenger Cars and Commercial Vehicles) and by End Users (Personal, and Industrial)– Global Opportunity Analysis and Industry Forecast 2024-2030.
Automotive Brake System Market Overview
The global Automotive Brake System Market size was valued at USD 35.12 billion in 2023 and is predicted to reach USD 49.40 billion by 2030 with a CAGR of 5.0% from 2024-2030.
The automotive brake system market also known as automobile brake system market is related to the production of brake system and its components to ensure safe and effective braking system in vehicles. The key feature of the market includes advancement in braking system, and integration of electronic system for improved safety and responsiveness.
The advantage of brake pad lies in its ability to enhance vehicle safety, reduce stopping distances, and improve control during emergency situations for facilitating enhanced driving experience. The vehicle braking system helps to support the demand for reliable and efficient braking solutions to ensure vehicle safety and control that makes it an indispensable part of the automobile industry.
Market Dynamics and Trends
The significant growth of automotive industry is boosting the growth of brake system market due to rise in vehicle production and sales. The report of the European Automobile Manufacturer Association in 2023 states that around 13.1 million automobiles is manufactured every year that contributes to around 7% to the total GDP of EU. The rise in manufacturing of automobiles, proportionally increases the demand for brake systems to ensure proper stopping and slowing capabilities in vehicles.
Additionally, the rising road accidents rate accelerates the demand for automotive brake system that allow drivers to control the speed of their vehicles as needed and maintain safe following distances between vehicles.
The report of the World Health Organization (WHO) states that road accidents lead to death of around 1.19 million people every year. The surge in road accidents propels the need for such control system such as brakes that help drivers maintain safe and appropriate speeds to avoid collisions with obstacles, other vehicles, or pedestrians, thereby boosting the automotive brake system market growth.
Moreover, the implementation of stringent safety regulations by regulatory bodies necessitates advanced braking technologies in vehicles to comply with safety standards, that in turn drives the demand for automotive brake systems. For instance, the European Union enforces strict brake system regulations, including requirements for advanced features such as autonomous emergency braking (AEB) and emergency lane keeping, compelling manufacturers to adopt sophisticated braking systems for improved road safety.
Additionally, the National Highway Traffic Safety Administration (NHTSA) in the U.S. mandates regulations for braking performance, including anti-lock braking systems (ABS) and electronic stability control (ESC), to enhance vehicle safety and reduce accident risks. These regulatory requirements propel the development and adoption of advanced braking technologies, leading to a heightened demand for automotive brake system that ensure enhanced safety and performance.
However, automotive braking system includes high replacement and maintenance cost, thereby hindering the automotive brake system market expansion. On the other hand, the integration of haptic feedback technology in automotive brake system helps to detect collision and provide tactile alert such as slight pressure and vibration to the brake pedal. This technological advancement in the brake system is expected to create ample opportunities for the market growth in the upcoming years.
Market Segmentation and Scope of the Study
The automotive brake system market report is segmented on the basis of components, type, actuation type, technology, vehicle type, end users, and region. On the basis of components, the market is divided into pads, rotors, calipers, and drum. On the basis of type, the market is divided into disk, drum, hydraulic wet, rheostatic, and regenerative.
On the basis of actuation type, the market is divided into hydraulic, and pneumatic. On the basis of technology, the market is divided into anti-lock braking system (ABS), electronic stability control (ESC), and regenerative braking. On the basis of vehicle type, the market is divided into passenger cars and commercial vehicles. On the basis of end users, the market is divided into personal and industrial. Regional breakdown and analysis of each of the aforesaid segments include regions comprising North America, Europe, Asia-Pacific, and RoW.
Geographical Analysis
Asia-Pacific dominates the automotive brake system market share and is projected to maintain its dominance throughout the forecast period due to the presence of large automotive industry in countries such as China and India.
The latest report of the International Trade Administration reveals that China is the leading vehicle market, with sales of around 26 million vehicles in 2021 and is expected to reach 35 million by 2025. The growth of the automotive industry accelerates the demand for automobile brake systems as it ensures vehicle and occupant safety by reducing speed or bringing vehicle to a complete halt.
Additionally, the presence of key players in the region such as Brembo N.V., Orbis Brakes, and Hitachi Astemo Ltd. that are adopting strategies such as product launch is driving the market growth. For instance, in October 2023, Brembo introduced a new aftermarket pads strategy known as Xtra brake pads at AAPEX and SEMA, marking a significant step in the evolution of automobile brake systems.
The product launch of Xtra brake pads demonstrated the commitment of Brembo towards innovation and excellence in the aftermarket segment, offering enhanced performance and reliability for vehicle braking systems. Such strategic product launches by key players contributes to the expansion of automotive brake system market by enhancing market appeal and consumer interest.
On the other hand, North America is expected to show a steady rise in the automotive brake system market demand attributed to the rise in collaborative efforts between various organizations and key players towards introduction of advanced brake system.
For instance, in July, 2022, Orbis Brakes partnered with NASA to introduce patented Periodic Wave disc brake, that utilize advanced aerodynamics to ensure superior surface cooling, extend vehicle range, fuel efficiency and reduce dangerous brake fade. Such collaborative efforts result in the introduction of cutting-edge innovations into the braking system, enhancing its safety and performance, thereby propelling its market growth.
Furthermore, the surge in the occurrence of road accident in the region increases the need for efficient automotive components such as braking systems to mitigate the risk of collisions and enhance vehicle control, thereby boosting its market growth. The report of the International Transport Forum report states that around road accident resulted in the death of around 1,934 people in Canada in 2022 that is an increase by 9.4% in comparison to 2021. Brakes help in preventing accidents by enabling drivers to slow down or stop their vehicles safely to avoid impending accidents that accelerates its demand in the region.
Competitive Landscape
The automotive brake system industry comprises of various key market players such as Robert Bosch GmbH, Continental AG, Aisin Seiki Co. Ltd., ZF Friedrichshafen AG., Brembo N.V., Haldex AB, Mando Corporation, Orbis Brakes, Delphi Technologies, Hitachi Astemo Ltd., and others. These market players are adopting strategies including product launches to stay competitive and maintain their market positions.
For instance, in November, 2023, ZF introduced a new electromechanical dry brake system designed to enhance braking performance and efficiency. This system features a compact, lightweight design that offers precise braking control and reduced noise compared to traditional systems. The innovation aims to improve vehicle safety and contribute to the advancement of automotive braking technology.
Moreover, in May 2023, Continental launched MK 120 ESC to ensure active safety performance and comfortable driving experience. The innovation highlighted the company’s focus to strengthen braking technology, catering to the evolving needs of the automotive industry for safer and more efficient braking solutions.
Key Benefits
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The report provides quantitative analysis and estimations of the automotive brake system industrt from 2024 to 2030, which assists in identifying the prevailing market opportunities.
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The study comprises a deep dive analysis of the current and future automotive brake system market trends to depict prevalent investment pockets in the market.
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Information related to key drivers, restraints, and opportunities and their impact on the market is provided in the report.
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Competitive analysis of the players, along with their market share is provided in the report.
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SWOT analysis and Porters Five Forces model is elaborated in the study.
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Value chain analysis in the market study provides a clear picture of roles of stakeholders.
Automotive Brake System Market Key Segments
By Components
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Pads
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Rotors
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Calipers
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Drum
By Type
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Disk
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Drum
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Hydraulic Wet
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Rheostatic
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Regenerative
By Actuation Type
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Hydraulic
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Pneumatic
By Technology
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Anti-lock Braking System (ABS)
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Electronic Stability Control (ESC)
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Regenerative Braking
By Vehicle Type
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Passenger Cars
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Commercial Vehicles
By End Users
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Personal
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Industrial
By Region
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North America
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The U.S.
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Canada
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Mexico
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Europe
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The UK
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Germany
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France
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Italy
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Spain
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Denmark
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Netherlands
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Finland
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Sweden
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Norway
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Russia
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Rest of Europe
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Asia Pacific
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China
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Japan
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India
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South Korea
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Australia
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Indonesia
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Singapore
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Taiwan
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Thailand
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Rest of Asia Pacific
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RoW
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Latin America
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Middle East
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Africa
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Key Players
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Robert Bosch GmbH
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Continental AG
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Aisin Seiki Co. Ltd.
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ZF Friedrichshafen AG
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Brembo N.V.
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Haldex AB
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Mando Corporation
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Orbis Brakes
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Delphi Technologies
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Hitachi Astemo Ltd.
REPORT SCOPE AND SEGMENTATION:
|
Parameters |
Details |
|
Market Size in 2023 |
USD 35.12 billion |
|
Revenue Forecast in 2030 |
USD 49.40 billion |
|
Growth Rate |
CAGR of 5.0% from 2024 to 2030 |
|
Analysis Period |
2023–2030 |
|
Base Year Considered |
2023 |
|
Forecast Period |
2024–2030 |
|
Market Size Estimation |
Billion (USD) |
|
Growth Factors |
|
|
Countries Covered |
28 |
|
Companies Profiled |
10 |
|
Market Share |
Available for 10 companies |
|
Customization Scope |
Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope. |
|
Pricing and Purchase Options |
Avail customized purchase options to meet your exact research needs. |
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