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.
Browse full report by Grand View Research
: http://www.grandviewresearch.com/industry-analysis/automotive-brake-system-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
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/automotive-and-transportation
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
o U.S.
o Mexico
o Canada
·
Europe
o UK
o Germany
·
Asia Pacific
o China
o India
o Japan
·
South America
o Brazil
View
Press Release of this research report by Grand View Research : http://www.grandviewresearch.com/press-release/global-automotive-brake-system-market
About
Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For
More Information: www.grandviewresearch.com
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