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2020

Automotive Brake System Market

Automotive Brake System Market Size, Share, Competitive Landscape and Trend Analysis Report, by Type, Technology, Vehicle Type and Sales Channel : Global Opportunity Analysis and Industry Forecast, 2019-2026

AT : Automotive systems and accessories

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Author's: Lalit Katare & Anvay Sonpimple | Lalit Janardhan Katare
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Automotive Brake System Market Statistics - 2026

The global automotive brake system market size was valued at $22.03 billion in 2018 and is projected to reach $38.48 billion by 2026, registering a CAGR of 7.5% from 2019 to 2026. Asia-Pacific accounted for the highest share in 2018 and is anticipated to maintain its lead in the global market throughout the forecast period. 

Brakes are one of the important parts of vehicles, without which it is not possible to use any vehicle for travelling. Brakes that serve to slow down a vehicle should not be too weak as well as should not be too efficient, as to avoid ill effects of sudden brake. Types of brakes includes disc brakes and drum brakes. A disc brake is made up of iron cast or of carbon-carbon & ceramic -matrix composites and are attached to the rotating wheel. To stop the wheel, friction material, which is in the form of brake pads, are forced against both sides of the discs causing friction and eventually decelerating or stopping the wheel. A drum brake is a traditionally used brake in which friction is achieved by a set of pads or shoes that forces against a rotating drum-shaped part known as brake drum.

Automotive Brake System Market

Factors such as rise in demand for safety features in automobiles and technological advancements in safety features is anticipated to drive the growth of the automotive brake system market. In addition, stringent government mandates for vehicle safety propels the growth of the market. However, high installation and maintenance costs are anticipated to hinder the growth of market. Further, development of advanced braking systems for two wheelers and expansion in untapped market of developing countries provide remarkable growth opportunities for the players operating in the automotive brake system market

The automotive brake system market has been subject to extensive R&D efforts, aimed at improving safety, performance, and efficiency of braking systems. These R&D activities encompass various aspects of brake system technology and components.

One significant area of R&D in the automotive brake system market is the development of advanced braking technologies. For instance, in November 2021, Continental introduced innovative brake-by-wire systems that replace traditional hydraulic braking systems with electronically controlled actuators. These systems offer improved response time, more precise brake force distribution, and the potential for integration with other safety systems.

Another focus of R&D in the brake system market is the exploration of new materials for brake components. For instance, Brembo, a prominent brake system manufacturer, has conducted extensive research on carbon ceramic materials. By incorporating carbon ceramic composite rotors and pads, vehicles benefit from reduced weight, better heat dissipation, enhanced durability, and improved braking performance.

Moreover, R&D efforts have been directed toward developing intelligent braking systems. Bosch, for instance, has been working on predictive emergency braking systems that utilize sensor technologies to detect potential collision scenarios and automatically apply the brakes to prevent or mitigate accidents. Such systems rely on radar, camera, & lidar sensors to continuously monitor the vehicle's surroundings and provide advanced warning & assistance to the driver.

 

Automotive Brake System Market
By Type
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Drum is projected as the most lucrative segments

The global automotive brake system market is segmented on the basis of type, technology, sales channel, and region. By type, it is divided into disc and drum. By technology, it is bifurcated into antilock braking system (ABS), traction control system (TCS), electronic stability control (ESC), and electronic brake-force distribution (EBD). By sales channel, it is classified into passenger vehicle, commercial vehicle, and electric vehicle. On the basis of sales channel, it is bifurcated into OEM and aftermarket. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Automotive Brake System Market
By Technology
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Antilock Braking System (ABS) is projected as the most lucrative segments

Key players including Aisin Seiki Co., Ltd., Autoliv Inc., Continental AG, Delphi Technologies, Denso Corporation, Nissin Kogyo Co., Ltd, Robert Bosch GmbH, WABCO, ZF Friedrichshafen AG, and others holds major automotive brake system market share.

Automotive Brake System Market
By Vehicle Type
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Electric vehicle is projected as the most lucrative segments

Top Impacting Factors:

Increasing Demand for Safety Features in Automobiles

The demand for safety features like antilock braking system (ABS), traction control, electronic stability control, tire pressure monitors, airbags, and telematics is on the rise, owing to the rise in number of road accidents around the world. According to the Association of Safe International Road Travel (ASIRT), nearly 1.3 million people die in road crashes, each year globally, with an average 3,287 deaths per day. in addition, road traffic crashes rank as the ninth leading cause of death and account for 2.2% of all deaths globally. People are concerned about these conditions and demand for safety features to be incorporated in their vehicles. Due to all these prevailing conditions, automobile companies are producing safety features enabled in vehicles. The automotive brake system market is thus driven by such factors.

Technological Advancements in Safety Features

Automobile companies are constantly producing new and enhanced products for comfortable and safe driving of vehicles. Products such as antilock braking system, electronic stability control, and anti-collision devices are frequently developed by players to produce safer and better vehicles. Antilock. For instance, in February 2018, Continental AG developed third generation of antilock braking system (ABS), which responds to speeding of vehicles along with providing safer, controllable, and optimum brake performance while driving. In November 2017, Bosch launched antilock braking system for eBikes, which prevents locking up of the front wheel, along with controlling the lifting of the rear wheel of these bikes. In addition, antilock braking systems are now available with electronic stability control (ESC) to prevent skidding thus, bringing vehicles under control. Therefore, technological advancements in vehicle safety features is a potential driver in the growth of the automotive brake system market.

Automotive Brake System Market
By Sales Channel
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Aftermarket is projected as the most lucrative segments

High Installation and Maintenance Cost

High maintenance cost of components of antilock braking system presents a barrier to the growth of the antilock braking system market. On an average, maintenance and installation cost of ABS is around $2000, including labor cost for commercial vehicles. The electronic control module of ABS costs from $1000 to $5000 and is not readily available in the market. This high maintenance and installation cost of advanced automotive brakes system is anticipated to hinder the growth of the automotive brake system market.

Development of Advanced Braking Systems for Two Wheelers

Development and innovation in braking systems for two wheelers is anticipated to propel the growth of the antilock braking system market in the upcoming years. According to the report by the Transport Research Wing of India, two-wheelers accounted for the highest share in total road accidents (25%) in 2016. Therefore, an urgent need for safety systems such as antilock braking system is on the rise. Recent innovations, such as modular and scalable antilock braking system, are especially designed for braking characteristics of two wheelers and can be adapted in models ranging from the lower power segment to high-end sports bikes. The development of advanced braking systems for two wheelers can unfold various opportunities for key market manufactures to grow in the automotive brake system market. 

Automotive Brake System Market
By Region
2026
Asia-pacific 
North America
Europe
LAMEA

Asia-Pacific would exhibit the highest CAGR of 8.1% during 2019-2026.

Key Benefits for Stakeholders:

  • This study presents analytical depiction of the global automotive brake system market analysis along with current trends and future estimations to depict the imminent investment pockets.
  • The overall automotive brake system market opportunity is determined by understanding the profitable market trends to gain a stronger foothold.
  • The report presents information related to the key drivers, restraints, and opportunities of the automotive brake system market with a detailed impact analysis.
  • The current automotive brake system market is quantitatively analyzed from 2018 to 2026 to benchmark the financial competency.
  • Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the armored vehicle industry.

Key Market Segments:

By Type

  • Disc
  • Drum

By Technology

  • Antilock Braking System (ABS)
  • Traction Control System (TCS)
  • Electronic Stability Control (ESC)
  • Electronic Brake Force Distribution (EBD)

By Vehicle Type

  • Passenger ICE Vehicle
  • Commercial ICE Vehicle
  • Electric vehicle

By Sales Channel

  • OEM
  • Aftermarket

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Rest of Europe
  • Asia-Pacific
    • Japan
    • China
    • India
    • South Korea
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America 
    • Middle East
    • Africa

Automotive Brake System Market Report Highlights

Aspects Details
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By TYPE
  • Disc
  • Drum
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By TECHNOLOGY
  • Antilock Braking System (ABS)
  • Traction Control System (TCS)
  • Electronic Stability Control (ESC)
  • Electronic Brake-Force Distribution (EBD)
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By VEHICLE TYPE
  • Passenger vehicle
  • Commercial vehicle
  • Electric vehicle
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By SALES CHANNEL
  • OEM
  • Aftermarket
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By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (France, Germany, Italy, Spain, UK, Russia, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Thailand, Malaysia, Indonesia, Rest of Asia-Pacific)
  • LAMEA  (Brazil, South Africa, Saudi Arabia, UAE, Argentina, Rest of LAMEA)
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Key Market Players

DENSO CORPORATION, HYUNDAI MOBIS CO., LTD, AUTOLIV INC., AISIN SEIKI CO., LTD., Continental AG, NISSIN KOGYO CO., LTD., Delphi Technologies, ZF FRIEDRICHSHAFEN AG, WABCO, ROBERT BOSCH GMBH

Analyst Review

Automotive brake system and technologies related to them such as antilock braking system (ABS), traction control system (TCS), and others plays a very important role in the braking of a vehicle, as it helps the driver to control a vehicle in case brakes are applied in emergency. Anti-lock braking system is a safety braking system used in vehicles to prevent skidding over roads and wheels from locking up when brakes are applied, thereby maintaining tractive contact with the road surface. Traction control system can be defined as the system, which controls the traction of drive wheels of a vehicle. The primary purpose of this system is to control the motion of wheel to avoid slipping during acceleration on slippery roads.

Factors such as rise in demand for safety features in automobiles and technological advancements in safety features is anticipated to drive the growth of automotive brake system market. In addition, stringent government mandates for vehicle safety propels the market growth. However, high installation and maintenance costs are anticipated to hinder the growth of the market. Further, development of advanced braking systems for two wheelers and expansion in untapped markets of developing countries provide remarkable growth opportunities for the players operating in the automotive brake system market.

Among the analyzed regions, currently, Asia-Pacific is the highest revenue contributor, and is expected to maintain its lead during the forecast period, followed by Europe, North America, and LAMEA.

Author Name(s) : Lalit Katare & Anvay Sonpimple | Lalit Janardhan Katare
Frequently Asked Questions?

Acquisition, agreement, partnership, expansion, and others are the new competitive developments in automotive brake system.

The global automotive brake system market was valued at $22,030.58 million in 2018, and is projected to reach $38,481.34 million by 2026, registering a CAGR of 7.5% from 2019 to 2026

The report sample for autmotive brake system market report can be obtained on demand from the website. Also, the 24*7 chat support and direct call services are provided to procure the sample report.

Original equiment manufacturers (OEM) are the potential customers of automotive brake system.

Aisin Seiki Co., Ltd., Autoliv Inc., Continental AG, Delphi Technologies, Denso Corporation, Nissin Kogyo Co., Ltd, Robert Bosch GmbH, WABCO, ZF Friedrichshafen AG are the leading players in automotive brake system.

The data of the top market players of automotive brake system market can be obtained from the company profile section mentioned in the report. This section includes analysis of top ten player’s operating in the automotive brake system marekt as well as their last three-year revenue, segmental revenue, product offerings, key strategies adopted, and geographical revenue generated.

Asia-Pacific will provide more business opportunities for automotive brake system in future.

The service providers of automotive brake system industry are Aisin Seiki Co., Ltd., Autoliv Inc., Continental AG, Delphi Technologies, Denso Corporation, Nissin Kogyo Co., Ltd, Robert Bosch GmbH, WABCO, ZF Friedrichshafen AG, and others.

The key growth strategies of automotive brake system industry players includes joint venture, partnership, product launch, and others.

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Automotive Brake System Market

Global Opportunity Analysis and Industry Forecast, 2019-2026