Automotive Brake Systems Market By Technology (Anti-Lock Braking System (ABS), Traction Control System (TCS), Others) By Vehicle Type (Passenger Car, Light & Medium Commercial Vehicles, Heavy Commercial Vehicles) and Region - Global Forecast 2026

The global automotive brake systems market estimated to value at around US$ 22 Bn in 2018, and is expected to register a CAGR of 5.9%. The report offers in-depth insights, revenue details, and other vital information regarding the global automotive brake systems market and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The report also offers insightful and detailed information regarding the various key players operating in the global automotive brake systems market, and their financials, apart from strategies, acquisitions & mergers, and market footprint. The global automotive brake systems market is segmented on the basis of technology, vehicle type, and region.

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This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.

Introduction:

Automotive brake systems are group of mechanical, electronic and hydraulic components that used friction in order to stop any type of moving vehicle. It uses friction of brake shoes and drums which convert vehicle’s kinetic energy into thermal energy. This aids in stopping or halting the vehicle.

Global Automotive Brake Systems Market Dynamics:

Government safety regulations in various countries that improves safety in cars and commercial vehicles is a major factor driving growth of the global automotive brake systems market. It also provides accuracy and speed. In addition, new regulations and norms for braking systems established by governments in developing countries is another factor expected to support growth of the target market.

Technological developments to improve efficiency of the product is a factor fueling growth of the global market. Anti-lock braking system enables drivers to have better control with prevention lock-ups and skidding. Advancements in materials used in automotive break systems in order to increase lifespan of brake pads, can play a major role in supporting growth of the target market.

Growing awareness regarding safety among end-users is resulting into increasing demand for advanced safety features in automotive sector such as anti-lock braking system (ABS) and combined braking system (CBS) is another key factor fueling growth of the global automotive brake systems market.

Growing demand for vehicles in emerging economies, coupled with growing production of passenger and commercial vehicles are factors boosting growth of the global automotive brake systems market. Growing automotive sector, rising disposable income, increasing adoption technologically advanced automotive systems are factors expected to drive growth of the global market over the forecast period.

However, high cost of automotive brake systems because of their complex interlinking of electronic and mechanical systems is a major factor anticipated to restrain growth of the global automotive brake systems market in the near future. Additionally, availability of counterfeit brake products in the automotive industry is another factor that could affect growth of the target market.

Nevertheless, increasing demand for electrical vehicles and hybrid cars among consumers, owing to environmental awareness is anticipated to fuel growth of the global automotive brake systems market. Moreover, government initiatives to encourage use of electric vehicles is another factor expected to boost growth of the global market in the near future. Introduction of cost-effective automotive brake systems can create revenue opportunities for the players in the global automotive brake systems market.

Market analysis by Technology:

Among the technology segments, the anti-lock braking segment is expected to account for major market share in terms of revenue and expected to maintain its dominance in the near future. The inner rotor segment expected to register a CAGR over 7% over the forecast period.

Anti-lock braking system offers benefits such as reduction of braking distance and tier wear is a factor supporting growth of the anti-lock braking segment in the global market.

Market analysis by Vehicle Type:

Currently, the passenger cars segment dominates the global market in terms of revenue and expected to account for around CAGR of 6% over the forecast period. The passenger vehicles segment is projected to register a moderately higher growth rate over the forecast period, owing to increasing adoption of luxury and semi-luxury vehicles.

In addition, increasing sale of passenger cars, owing to increasing demand for hatchbacks, especially in developing countries such as China and India is expected to support revenue growth of this segment during the forecast period. Changing lifestyle and rising disposable income are factors expected to fuel revenue growth of this segment in the global automotive brake systems market over the forecast period.

Analysis by Region:

Market in Asia Pacific dominates the global market in terms of revenue and expected to maintain its dominance in the near future, followed by markets in Europe and North America.

Market in Europe accounts for second-highest share in terms of revenue in the global market. Rising adoption of brake systems in the automotive sector, owing to stringent government regulations, and high expectations of consumers regarding vehicle control, driving comfort, performance, and safety are major factors expected to drive growth of the automotive brake systems market in this region. Additionally, presence of well-developed automotive sector and increasing investments in R&D activities for development of advanced brake systems by major manufacturers is a factor expected to support growth of the market.

North America market is expected to register moderate growth in terms of revenue over the forecast period. Advancements in the automotive sector as automotive brake system enhancers performance of vehicles is a major factor driving growth of the target market in this region. In addition, increasing investment in R&D activities and presence of major manufacturers in the US and adoption of automotive brake systems in electric and hybrid vehicles with high power are factors expected to support growth of the market in the US, thereby supporting growth of the North America market. Increasing adoption of technologically advanced products by end-users is also a factor anticipated to propel growth of the automotive brake systems market in this region.

Latin America market is expected to register lucrative growth in terms of revenue and expected to account for CAGR over 3% over the forecast period, owing to growing demand for automobiles among individuals. In addition, increasing population, rising disposable income, and changing lifestyle are some other factors supporting growth of the global market in this region.

Global Automotive Brake Systems Market Segmentation:

Global Automotive Brake Systems Market Segmentation on the basis of Technology:

• Anti-Lock Braking System (ABS)
• Traction Control System (TCS)
• Electronic Stability Control (ESC)
• Electronic Brake Distribution (EBD)

Global Automotive Brake Systems Market Segmentation on the basis of vehicle type:

• Passenger Car
• Light & Medium Commercial Vehicles
• Heavy Commercial Vehicles

Global Automotive Brake Systems Market Segmentation on the basis of region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa