Automotive Brake Systems Market Expected To Enhance USD 31.11 Billion By 2025| Grand View Research,Inc.

October 07 04:26 2019
Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research, The automotive brake systems market is highly influenced by vehicle production as a brake system is an integral part of a vehicle. The rising vehicle production and sales, owing to growing disposable income, is expected to propel the market growth.

According to a report, “  Automotive Brake Systems Market Analysis By Brake Type (Disc, Drum), By Vehicle Type, By Technology (ABS, TCS, ESC, EBD), By Region, And Segment Forecasts, 2018 – 2025″, published by Grand View Research, Inc.,

The global automotive brake systems market is expected to reach USD 31.11 billion by 2025, according to a new study by Grand View Research, Inc. The market is highly influenced by vehicle production as a brake system is an integral part of a vehicle. The rising vehicle production and sales, owing to growing disposable income, is expected to propel the market growth.

The primary objective of brake systems is to reduce vehicle speed and halt the vehicle. However, a moving vehicle is subject to numerous uncertainties. The use of advanced systems ensures vehicle halt and enables consistent vehicle control, which proves vital in avoiding an accident, thereby, ensuring optimum vehicle safety.

The increased use of electronic components is one of the key contributing factors for market growth. The use of electronic components has led to the development of technologies such as Antilock Braking System (ABS), Traction Control System (TCS), Electronic Stability Control (ESC), and Electronic Brake-Force Distribution (EBD). The adoption of these advanced technologies, coupled with growing popularity of vehicle safety among consumers, is presumed to drive the market. However, the high cost of integration is the primary restraining factor for the widespread adoption of advanced braking systems. Thus, a majority of these systems are integrated solely in premium and luxury vehicles.

The key factor driving the growth of the automotive brake systems market is the growing stringency in vehicle safety norms. Automotive associations across the globe are working toward improving vehicle safety. For instance, in 2016, the U.S. Department of Transportation’s National Highway Traffic Safety Administration (NHTSA) and Insurance Institute for Highway Safety (U.S.), along with 20 prominent vehicle manufacturers, have planned to incorporate Automatic Emergency Braking (AEB) systems as a standard feature in all new cars from September 2022. Similarly, in 2015, the Ministry of Road Transport and Highway (MoRTH), India, mandated the implementation of ABS in all commercial vehicles. Thus, the market is expected to grow steadily over the forecast period. However, lack of considerable efforts toward curbing counterfeiting of brake-related products is hampering the growth of the market and compromising vehicle safety.

U.S. automotive brake systems market

Further key findings from the study suggest:

  • The disc brakes segment is projected to grow at a higher CAGR than drum brakes, owing to its enhanced braking performance and heat dissipation characteristics

  • The passenger cars segment is anticipated to grow at the highest CAGR of 5.9% over the forecast period, owing to the rising passenger car sales in developing economies such as China and India   

  • The growing concerns over non-exhaust emission, caused due to brake abrasion, have propelled the need for eco-friendly brake materials

  • Asia Pacific is projected to account for 53.6% of the total market share by 2025, owing to increasing vehicle production and popularity of vehicle safety features

  • The key companies, such as Aisin Seiki Co., Ltd., Brembo S.p.A., Continental AG, and Robert Bosch GmbH, have made huge investments in R&D activities to strengthen their production capabilities

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Technology Insights

Based on technologies, the market is divided into four categories namely Anti-Lock Braking System (ABS), Traction Control System (TCS), Electronic Stability Control (ESC), and Electronic Brake-Force Distribution (EBD). The ABS segment held the largest market share in 2016. The active efforts of various automotive associations toward mandatory implementation of ABS in prominent regions have led to the growth of the ABS technology. Likewise, the rising adoption of ESC technology, owing to its perceived benefits in gaining vehicle control during an emergency situation, is expected to drive the growth of the automotive brake systems market over the forecast period.

Global automotive brake systems market

The TCS technology ensures traction in adverse road conditions, thereby, providing additional safety. Thus, the TCS segment is expected to register the highest CAGR over the forecast period. Moreover, the technology can be implemented using the same infrastructure used for ABS. It enables the widespread adoption of TCS. Thus, the incorporation of advanced braking systems would enable automakers to achieve higher NCAP rating for a vehicle.

Regional Insights

The Asia Pacific region dominated the market in 2016 and is expected to grow at the highest CAGR of 6.7% over the forecast period. The manufacturers in the region offer high-cost reduction, owing to the availability of low-cost labor and raw materials. Furthermore, the region comprises countries, such as China and India, which accounted for approximately 34% of the total vehicle production in 2016. Increasing popularity of active braking systems, coupled with a boost in sales of luxury and premium vehicles, is presumed to drive the market.

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The North American region is expected to grow at a CAGR of 4.7% over the forecast period. This can be attributed to the increasing demand for improved performance in adverse weather conditions. Additionally, the mandatory implementation of the ESC technology, since 2016, in all light vehicles is driving the regional market.

Grand View Research has segmented the automotive brake system market based on types, technologies, vehicle types, and regions:

Type Outlook (Revenue, USD Million; 2014 – 2025)

  • Disc Brake

  • Drum Brake

Vehicle Type Outlook (Revenue, USD Million; 2014 – 2025)

  • Passenger Cars

  • Commercial Vehicles

Technology Outlook (Revenue, USD Million; 2014 – 2025)

  • ABS

  • TCS

  • ESC

  • EBD

Regional Outlook (Revenue, USD Million; 2014 – 2025)

  • North America

    • U.S.

    • Mexico

    • Canada

  • Europe

    • UK

    • Germany

  • Asia Pacific

    • China

    • India

    • Japan

  • South America

    • Brazil

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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