Automotive Brake System Market Size, Share, Growth Analysis, By Material (Polyamide, Polypropylene), By Fuel Type (Gasoline, Diesel), By Product (Engine-mounted, Body-mounted), By Region -Industry Forecast 2025-2032
Report ID:
SQMIG25A2343 |
Region:
Global |
Published Date: December, 2024
Pages:
197
|Tables:
0
|Figures:
0
Automotive Brake System Market Insights
Global Automotive Brake System Market size was valued at USD 47.75 Billion in 2022 and is poised to grow from USD 50.38 Billion in 2023 to USD 77.31 Billion by 2031, growing at a CAGR of 5.5% in the forecast period (2024-2031).
The automotive brake system industry is expected to rise significantly, owing to increased demand for the passenger and commercial vehicles in countries such as India and China. In addition, factors such as strict safety standards, the adoption of luxury automobiles, and the increased adoption of disc brakes in commercial vehicles are further propelling market growth. Some other factors driving the market are growing awareness about safe and smooth driving in the wake of increasing road accidents, the demand for advanced technology to reduce weight and friction generated in vehicles, and R&D activities by major players. However, the integration of innovative technologies such as electronic controls, regenerative braking systems, and lightweight materials increases the overall cost of the brake system components. The growing demand for safety and security in automobiles is the main factor playing a vital role for the growth of this market. Growing proportion of India middle class, rising disposable income, stringent government regulations, increasing vehicle electrification and rising deaths due to failure of braking system are some of the key driving factors for the future growth of automotive braking system market. The complexity and the high cost of new features are the key restraints for the growth of this market.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Fastest Growth
Growth Rate
CAGR
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Automotive Brake System Market Segmental Analysis
Global automotive brake system market is segmented on the basis of propulsion, vehicle type, system type, technology and region. Based on vehicle type, the market is segmented into vehicle type, the market is segmented into hatchback/sedan, SUVs, LCV, and HCV. Based on propulsion, the market is segmented into ICE and electric. Based on system type, the market is segmented into electromagnetic braking system, mechanical braking system, and hydraulic braking system. Based on technology, the market is segmented into anti-locking braking system (ABS), electronic stability control (ESC), traction control system (TSC), and electronic brakeforce distribution (EBD). Based on the region, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Analysis by Vehicle Type
As per automotive brake system market analysis, the SUVs segment dominated the market in 2023, with a market share of around 43%. This dominance is attributed to the rising preference for SUVs globally, driven by their utility, spaciousness, and adaptability to diverse terrains. The larger size and heavier weight of the SUVs necessitate advanced braking systems to ensure optimal safety and performance. The demand for specialized brake systems tailored to their requirements intensifies, which leads to segmental growth. For instance, in February 2022, Aston Martin introduced the Aston Martin DBX707, equipped with 420mm carbon brakes. Enhancements to the braking system's hydraulic sizing and booster tuning enhance the pedal feel and braking response. The HCV segment is anticipated to exhibit the fastest CAGR during the forecast period. The need for reliable and high-performance braking solutions to ensure safety and compliance with stringent regulations elevates the market demand. HCVs characterized by heavy loads, and those that tend to operate in extreme conditions, require highly reliable and robust braking solutions to ensure safety and efficiency. In addition, the use of hybrid electric and HCV drives the innovations in braking technology including regenerative braking systems to increase energy efficiency. Governments' increasing focus on improving road safety through stringent regulations for heavy vehicles also drives the adoption of sophisticated braking solutions.
Analysis by Propulsion
As per the automotive brake system market outlook, the ICE segment holds the largest share. As ICE vehicles are used worldwide, the demand for efficient, reliable, and cost-effective brake systems persists. These vehicles require robust braking systems to manage high-speed performance and heavier fuel-based powertrains. The ICE segment also benefits from the integration of advanced safety features, such as Anti-lock Braking Systems (ABS) and Electronic Stability Control (ESC), as consumer safety awareness and regulatory compliance intensify. Despite the global shift toward electrification, the ICE segment remains a keystone of the automotive brake system market, especially in developing regions with the slower EV adoption.
The electric segment is estimated to grow at a rapid pace, with a CAGR of 5.3% over the forecast period. These systems allow EVs to recover energy during deceleration, enhancing efficiency and extending battery range. As EV adoption accelerates globally, driven by sustainability goals and government incentives, automakers are focusing on lightweight and adaptive brake systems to optimize EV performance. In February 2022, ZF collaborated with British electric vehicle manufacturer Tevva to develop the regenerative braking system for its 7.5-ton battery-electric truck. This collaboration included close cooperation between ZF and Tevva engineers to integrate ZF's Electronic Brake System (EBS) into Tevva's zero-emission electric trucks. Additionally, the quiet operation of EVs has led to advancements in noise-reduction technologies for braking systems, further catering to consumer expectations.
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Automotive Brake System Market Regional Insights
Asia Pacific leads the automotive brake system market due to the robust industrial growth, increased vehicle ownership, and a strong manufacturing presence in emerging countries such as China and India. With significant investments in research and development, the region produces innovative brake systems that meet global standards. Furthermore, rapid infrastructure development also fuels the need for vehicles, consolidating Asia Pacific's dominance in this market. According to the OICA (International Organization of Motor Vehicle Manufacturers), Asia Pacific recorded around 59% of the total vehicles in 2023 worldwide. Furthermore, countries such as China and India, among others, are the automotive manufacturing hub.As per the automotive brake system market analysis, North America among regions is expected to dominate during the forecast period. The growing desire for better performance of vehicles in adverse weather, the presence of major car manufacturers, and growth in the supply of light commercial vehicles and passenger cars have driven the expansion of the market in this region. Technological innovations, such as electronic brake systems, cater to the region's preference for cutting-edge automotive solutions, contributing to the market's momentum. Furthermore, since 2018, the mandated installation of ESC technology in all light cars has driven the regional market growth. Consumer demand for high-quality and reliable brake systems, coupled with a robust automotive industry, further fuels market growth.
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Automotive Brake System Market Dynamics
Drivers
Increasing Emphasis on Vehicle Safety to Propel Market Development
- Heightened consumer awareness and stringent regulations have spurred the demand for advanced automotive brake systems equipped with features such as the anti-lock braking system (ABS) and collision avoidance systems. Additionally, rising vehicle production, technological advancements, and the growing aftermarket for brake system upgrades contribute to automotive brake system market growth.
Rising Demand for Commercial Vehicles
- An increase in demand as well as growing sales for commercial vehicles is expected to augment growth of the global automotive brake system market over the forecast period. This rise in road-based freight has increased the demand for reliable and efficient commercial vehicles, especially in places like Europe. Light Commercial Vehicles (LCVs) have become an important asset for businesses due to their versatility, and ability to meet the demanding needs of the logistics sector.
Restraints
Increasing Cost of Advanced Technologies and Materials
- The integration of features, such as regenerative braking, and lightweight components increases manufacturing expenses. This poses challenges for manufacturers striving to balance performance and affordability, particularly in cost-sensitive market segments. High production costs can hinder the adoption of innovative brake technologies, especially in entry-level vehicles or regions prioritizing cost-effective solutions.
Supply Chain Disruptions Impacting Component Availability
- The automotive brake system market faces challenges from global supply chain disruptions, which affect critical components such as semiconductors, sensors, raw materials etc. Finding the equilibrium between cost-effectiveness and technological advancement remains a significant obstacle for stakeholders in the market for automotive brake systems.
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Automotive Brake System Market Competitive Landscape
The automotive brake system market is characterized by fierce competition, driven by the increasing demand for high-performance brake technologies in automotive components. Leading companies such as Robert Bosch GmbH, ZF Friedrichshafen AG, Continental AG, Aisin Corporation, Brembo S.p.A. dominate the market with their product range. These companies are leaders in the development of advanced braking solutions, including regenerative braking, electronic controls for electric vehicles.
Top Player’s Company Profiles
- AKEBONO BRAKE INDUSTRY CO., LTD.
- ZF Friedrichshafen AG
- ADVICS CO., LTD.
- Hitachi Astemo, Ltd.
- Brembo S.p.A
- Robert Bosch GmbH
- AISIN CORPORATION
- Haldex
- The Web Co
- NISSIN KOGYO Co., Ltd
Recent Developments
- November 2023 - ZF pioneered an electric brake-by-wire system for forthcoming software-defined vehicles. This advanced brake system eliminates the necessity for brake fluid while also enabling the possibility of combining electric and hydraulic brake systems.
- March 2023, SSAB and MENETA jointly announced a significant milestone in the automotive industry by introducing the world's first automotive brake components and sealing materials manufactured using fossil-free steel.
- July 2022, Orbis Brakes, a pioneering force in automotive safety, in collaboration with NASA unveiled braking technology to revolutionize vehicle safety standards.
Automotive Brake System Key Market Trends
- Integration of Advanced Safety Features and Technologies Advances the Market: Manufacturers are developing braking systems that seamlessly integrate with the advanced driver assistance systems (ADAS) and autonomous driving (AD) technologies with an increasing focus on vehicle safety. These systems include predictive braking systems, emergency braking systems and brake-by-wire technology. This automotive brake systems market trend underscores the industry’s commitment to improve the safety, efficiency and durability of automotive braking systems.
- Rising Demand for Regenerative Braking Systems in Electric Vehicles: As governments around the world implement stricter emissions regulations and offer incentives for EV adoption, automakers are giving regenerative braking technology a higher priority. This trend not only improves sustainability but also drives innovation in braking solutions designed for EV systems. Increasing adoption of electric vehicles (EVs) has fueled the demand for alternative braking systems.
Automotive Brake System Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to SkyQuest analysis, the automotive brake system market is experiencing robust growth, driven by several key factors. One of the primary drivers is the increasing production and sales of vehicles worldwide. Several constraints and roadblocks will impede overall market expansion. Nonetheless, technological advancements, such as regenerative braking, the advent of the brake-by-wire system, and untapped potential in emerging countries, offer growth opportunities. Moreover, high repair and maintenance costs for technologically advanced brakes are anticipated to hinder the growth of the automotive brake system market. This growth in vehicle production directly boosts the demand for automotive brake systems, as every vehicle requires a reliable and efficient braking system for safety and performance.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 47.75 Billion |
| Market size value in 2031 | USD 77.31 Billion |
| Growth Rate | 5.5% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Automotive Brake System Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Automotive Brake System Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Automotive Brake System Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Automotive Brake System Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Automotive Brake System Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Automotive Brake System Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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