Global Automotive Brake System Market
2019 Analysis and Review of Global Automotive Brake System Market (By System Type - Disc Brake and Drum Brake) 2020 - 2030
- Ongoing
- July 2020
- REP-GB-503
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This Global Automotive Brake System market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Global Automotive Brake System market.
The global market for automotive brake systems is expected to witness a rise of 3% CAGR between the forecast years of 2020-2030. The market is poised to take a hit as COVID-19 disrupts automobile production. Furthermore, economic downturn will also hamper the market in a negative manner in the coming days. Despite the gloomy picture, the global market for automotive brake systems will recover as the world limps back to normalcy by 2021. In the decade long prediction, the demand for automotive brake systems is projected to rise as road safety features will gain prominence amongst manufacturers and producers.
Prominence of Road Safety to Boost Automotive Brake Systems Market
Development of the smart braking systems in automotive brake system market resulted in decreasing number of accidents. The latest advancements prevents the vehicle from skidding minimizing the risk of accidents. Rapid increase in the production and sales of vehicles coupled with stringent regulations regarding stopping distances are anticipated to magnanimously contribute to the growth of the market. Growing demand for installation of passive and active safety in vehicles is expected to trend in automotive brake system market.
Market Growth Analysis
Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.
COVID -19 : Impact Analysis
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Request Covid -19 ImpactGrowing concern over road traffic crashes and increasing number of deaths have influenced the key players to integrate robust safety features. Stringent safety regulations by regulatory bodies and governments will continue to drive the growth of automotive brake system market. NHTSA (National Highway Traffic Safety Administration), agency of U.S. DOT (Department of Transportation) has planned to mandate adoption of Automatic Emergency Braking System (AEB) from 2022.
ABS Stands Out as Some Make it a Mandate to Sell Vehicles
The global automotive brake systems market is segmented into system type, vehicle type, and system technology. The system type segment includes disc brake and drum brake. Out of these, the disc brake segment is expected to expand at a rapid pace due to better performance and heat dissipation features. In the coming years, passenger cars will lead the vehicle type segment as automotive sector shows promise of revival as economy inches closes to normalcy. The system technology segment includes traction control system (TCS), antilock braking system (ABS), electronic brake-force distribution (EBD), and electronic stability control (ESC). ABS is projected to dominate as it in mandated in several vehicles.
Asia Pacific Remains in the Lead with Shifting Focus on India
Asia Pacific is projected to control on the global automotive brake system market with growing number of consumers and manufacturers. The key countries in the mentioned region are projected to be India, South Korea, and China as an outcome of the increasing demand for commercial vehicles and passenger cars. Japan also contributes to the global automotive brake system market remarkably. While China was anticipated to be the largest opportunity in terms of revenue of the industry, the recent pandemic is expected to shift focus to India. Europe is expected to be the second largest market in global automotive brake system market followed by North America.
Key Players
Some of the key players operating in the global automotive brake system market are TRW Automotive Holdings Corp., Aisin-Seiki Co. Ltd., Continental AG, Akebono Brake Industry Co. Ltd., Brembo S.P.A., Halla Mando Corp., and others.
How Will Growth Unfold?
The automotive sector was anticipating a disruption as economies across the globe nosedived. However, the problem has been compounded due to recent outbreak of COVID-19. It has led to a disruption in production and supply, ceasing demand as consumer confidence is shaken up. However, the future of automobile sector will heavily rely on electronic vehicles as emission norms will get stringent.
Key Highlights
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Report Metric |
Details |
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Base year considered |
2019 |
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Actual estimates/Historical data |
2014 - 2018 |
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Forecast period |
2020 - 2030 |
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Forecast units |
Value (USD) Bn |
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Segments covered |
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Market Outlook |
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Regions covered |
North America, the Middle East and Africa, Europe, and Central and South America, Asia Pacific |
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Key Players |
TRW Automotive Holdings Corp., Aisin-Seiki Co. Ltd., Continental AG, Akebono Brake Industry Co. Ltd., Brembo S.P.A., Halla Mando Corp., and others. |
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Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
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Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
Frequently Asked Questions
What research methodology is used to develop the Global Automotive Brake System Market report?
- FMI utilizes three branched methods to derive market measurements used to compile any report study (data derivation, triangulation and validation).
- These approaches include accumulating data from both primary and secondary sources
- Primary research involves interviews with industry operators and FMI's network of contacts spanning the world's value chain of the Global Automotive Brake System Market. This is supported by a comprehensive literature analysis of information gathered through secondary sources
- Analysis of several middle market stakeholders for country-wise data
What else does FMI offer apart from Global Automotive Brake System Market report?
In addition to up-to-date market figures and customized of the Global Automotive Brake System Market, FMI offer consulting services to help businesses within industry navigate challenges and take well-informed decisions amidst the breakneck competition.
How do you define competitors based on market structure? What aspects about a competitor are included in the company profile section?
- Most of the competitors are segregated according to their market share in 'Tier' wise statures.
- Global market participants are scrutinized and global competition metrics are included with numerous competitor profiles referring to their business background and go-to market strategies.
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