Modern-day automobile are designed to exhibit high-performance features such as exceptional speed and improved overall efficiency. However, with the enhancement of performance parameters, it becomes essential to incorporate the related safety system in automobile vehicles. Automotive braking system is one of the most crucial and integral components of any automobile vehicle. In order to regulate the vehicle speed and reduce vehicle stopping distance, advanced braking systems are required. Each braking system is designed and preferred based on its application and working conditions. In order to suffice the safety challenges, automotive braking systems are now manufactured incorporating electronics and additional features for an efficient, economical, and durable braking system.
The overall automotive braking system market is strongly driven by the ever-increasing demand for on-road vehicles. Post-recession, the automotive industry worldwide has exhibited positive signs of recovery in recent years. Consumption of luxury and semi-luxury high-performance vehicles has risen significantly over the period of time. Subsequently, the need for efficient braking systems for vehicles including passenger cars, light commercial vehicles, heavy commercial vehicles as well as two-wheelers are perpetually increasing. This would continue to spur the automotive braking system market considerably in the coming years.
Automotive braking systems are segmented according to their type, working medium, technology, and vehicle types. According to type, braking systems are classified as disk brake system and drum brake system. On the basis of vehicle class, the market is classified into passenger cars, light commercial vehicles (LCV), heavy commercial vehicles (HCV), and two-wheelers. Automotive brake systems are segmented, based on the mode of operation, as hydraulic brake system and pneumatic (air) brake systems. On the basis of geographic regions, the automotive braking system is segmented into – North America, Europe, Asia Pacific, Middle East & Africa (MEA), Latin America. At present, Asia Pacific leads the automotive braking system market. The market here is majorly governed by countries such as China, Japan, South Korea, and India, Having a huge automotive industry.
In order to help strategic decision-makers, the report also includes competitive profiling of the leading automotive braking system manufacturers, their strategies, market positioning, and key developments. Some of the major players profiled in the report include Continental AG, Robert Bosch GmbH, ZF TRW, HallaMando Corp., RW Automotive Holdings Corp., Aisin-Seiki Co. Ltd., Akebono Brake Industry Co. Ltd., Brembo S.P.A., CA Traffic Limited, Knorr Bremse AG, Advics Group, Haldex, and others. Other in-depth analysis provided in the report includes:
The global automotive braking system market based on its types :
In 2021, disk brake was the largest segment, in terms of revenue, of the overall automotive braking systems market worldwide. Owing to quick response and reduced vehicle stopping distance, a disc brake system is prominently applied in most automobiles. Disc brakes are compatible with two-wheelers, passenger cars, and light commercial vehicles. Rise in demand for on-road automotive vehicles worldwide and increased safety in braking systems, the automotive disc brake system market is expected to maintain its dominance in the future.
The overall demand for the automotive braking system is estimated to remain average in the drum brake segment. The efficiency of drum brakes is limited as compared to disc brakes. Factors including excessive heat generation, elongated stopping distance and fractional delayed response compared to disc brakes have made the drum brake system to fall back, in terms of application. With a limited applications such as emergency brakes and parking brakes, the overall demand for drum brake is estimated to remain stagnant in the following years. Consequently, the overall drum brake segment growth is expected to remain low in the overall automotive braking system market.
The global automotive braking system market based on vehicle class:
The automotive braking system is applied to different segments of an automobile, depending on their design, working condition, and efficiency. On the basis of vehicle class passenger cars segment dominated the overall automotive braking system market, in 2021. With a significant rise in the sales of passenger cars, the demand for efficient braking systems for these cars has also escalated, over a period of time. The Two-wheelers braking system segment succeeds the passenger car segment.
With the adoption of new technologies in braking systems, two-wheelers are also getting the advantages of advanced features for safety. Rising consumer preference towards advanced safety technology (including braking systems) in two-wheelers has led to a spur in the segment’s automotive braking system. Moreover, rapid industrialization and increased trading activities, and industrial logistics have significantly boosted the consumption of light and heavy commercial vehicles. Consequently, the automotive braking market for these segments too is expected to grow at a consistent rate in the coming years.
The global automotive braking system market based on its working technique:
Hydraulic and pneumatic braking systems have completely taken over the conventional mechanical braking system across all the vehicle classes. The hydraulic braking system is by far the most widely adopted braking system in automobile industry. Hydraulic braking systems offers several merits such as quick response, compact construction, and efficient braking. The vehicle stopping distance of a hydraulic braking system is significantly less compared to other braking methods. Subsequently, hydraulic braking system is suitable for almost all of the vehicle classes including passenger cars, light commercial vehicles, and two-wheelers. With the consistent growth expected across the automotive industry, hydraulic brake system is projected to retain its dominant position in the market throughout the forecast period.
Pneumatic braking system segment follows hydraulic braking segment, in terms of revenue, as of 2021. Pneumatic braking systems are heavy in construction and can transfer braking force over a longer distances than hydraulic braking systems. Owing to these attributes, a pneumatic braking system is particularly used in heavy commercial vehicles. In addition, the overall running cost of a pneumatic braking system is also limited as it uses air as its working medium. Consistent rising demand for commercial vehicles worldwide would lead to a steady demand for pneumatic braking system.
The global automotive braking system market based on the technology:
The introduction of electronic systems has increased the efficiency of modern day automotive braking systems. One of the most predominantly used electronic features in automotive braking systems is the antilock braking system (ABS). Antilock braking system aids in preventing vehicle skidding on the sudden application of brakes, thereby reducing the risk of any severe accidents. ABS has been made mandatory in various in countries including the U.S., the U.K., and other European countries. This has led to strong across the ABS segment, over the period of time.
Electronic stability control system (ESC) is expected to emerge as the fastest-growing segment in the overall automotive system market. ESC offers various improved features than ABS including better traction control and prevention of mishaps due to over-steering. Similar to ABS, ESC is mandatory in vehicles across countries such as the U.S., Canada, the U.K., and other countries under the European Union.
Further, regenerative braking is another promising technology being adopted in nascent times. With the ability to generate electricity through braking force, regenerative braking is applied in electric and hybrid vehicles. With the rising trend of electric and hybrid vehicles, the overall regenerative braking system market is expected to grow at a continuous rate during the forecast period.
The Asia Pacific dominated the overall automotive braking market, in 2021. Owing to robust economic growth and escalating lifestyles, countries from the Asia Pacific are showing a significant rise in consumption of on-road vehicles in nascent time. Many countries including China, Japan, South Korea, and others are the prime manufacturing hub for a variety of industries including automobile manufacturing. In order to aid automobile manufacturing, automotive braking systems are consumed on a large scale in these regions. This has led the automotive braking system market here to grow perpetually, over a period of time. Consequently, the automotive braking system market is expected to continue witnessing significant growth in the future.
Europe succeeds the Asia Pacific, in terms of revenue, of the global automotive braking system market. European automobile manufacturers are among the earliest adopters of technologies such as antilock braking systems and electronic stability control in their vehicles. It is mandatory to have an antilock braking system and electronic stability control system in all new passenger cars in the countries of the European Union as per the law enforced by the authorities. Government regulations and steady automobile demand have increased the consumption of automotive braking systems. Consequently, Europe is expected to display a steady growth for automotive braking systems. North America is expected to show moderate growth in the overall automotive braking system market.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Automotive Braking System market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
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| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
