DUBLIN, Nov. 24, 2022 /PRNewswire/ — The “Brake System Market by Type (Disc, Drum), Technology (ABS, ESC, TCS, EBD), On & Off-Highway Vehicle (Passenger Car, LCV, HCV, Construction-Mining, Tractor, ATV), OHV Brake (Hydraulic Wet, Hydrostatic, Dynamic), Actuation and Region – Global Forecast to 2027” report has been added to ResearchAndMarkets.com’s offering.
The brake system market is projected to reach USD 28.1 billion by 2027 from an estimated USD 22.2 billion in 2022, at a CAGR of 4.8% during the forecast period.
The hydraulic brake is expected to be the largest market, by actuation.
The growth in the production of passenger cars and light commercial vehicles (LCV) is driving the growth of hydraulic brake systems. Advantages such as better heat dissipation than mechanical brakes, better braking power transmission, compact size, and ease of repair due to the readily available brake parts in the aftermarket are instrumental in increasing the penetration of hydraulic brake systems.
As the hydraulic brake market is directly linked to the production of passenger cars and LCVs, China, Japan and India are the largest markets for hydraulic brakes. Also, North America and Europe have a significant presence in hydraulic brakes. Still, as the local automobile OEMs outsource their manufacturing to developing countries, the brake products aftermarket is expected to showcase promising growth in these developing regions.
Passenger Car, brake systems market, would be the fastest-growing market.
Passenger cars contribute to more than 60% of global vehicle production; hence, the segment has the leading demand for brakes. Passenger cars employ two braking systems: service brakes and parking brakes. The market for passenger car brakes is mainly driven by increased production owing to increased personal use cars and ride sharing and government safety mandates. Although advanced brakes are popular in Europe and North America, the increasing penetration of such brakes in Asia Pacific is expected to boost the brake system market.
Many countries in Asia Pacific are adopting regulations that requires use of electronic brake system to be compulsorily installed on new vehicles. In April 2019, the Ministry of Road Transport & Highways of India under Bharat NCAP, announced that India will have safety braking features such as electronic stability control and autonomous braking as mandatory features on passenger cars by 2023.
The stringency in passenger vehicle safety regulations is projected to increase the adoption of advanced brake systems. Passenger cars in Europe and North America already have significant penetration of advanced brake systems, and this penetration rate is expected to increase in the coming years.
North America will continue to lead the ATV brake system market in coming years.
The growing popularity of sports/recreational activities, increasing use in farms, and rising number of off-road sports events/championships would drive the global ATV market. This growth in ATVs globally would create opportunities for the ATV brake system market. Australia is the leading market for ATVs in the Asia Pacific; Utility ATVs are the most used ATVs in the Asia Pacific. As most ATVs in Asia Pacific uses drum brakes, the market for ATV drum brake system would be the largest in Asia Pacific.
On the other hand, North America contributes to more than 60% of the global ATV brake system market as it it is the largest ATV market in the world. Factors such as large forests, the prevalence of recreational sports, and use in military and agriculture are instrumental in higher market share of North America in ATV Market. Hence, North America would remain a major ATV brake system market in the forecast period.
Asia Pacific would register the highest growth in on adoption of electronic advanced brake system during the forecast period
Asia Pacific has emerged as the largest hub for vehicle production in recent years due to growth in favorable incentives by local governments, growing domestic market, and cost advantages for local automobile OEMs. Manufacturers such as BMW Motors (Germany) and Volkswagen AG (Germany) have already set up their manufacturing units in these countries on a large scale. The rise in automotive production is driving the automotive brake systems market in the region.
As of 2022, drum-drum and disc-disc combination is popular with the automobile manufacturers in the region. But with changing preferences of customers in the region, the market for luxury and sports vehicles is growing which is projected to contribute in growth of disc-disc brake combination. Companies such as Aisin Seiki Co., Ltd. (Japan), Akebono Brake Corporation (Japan), Mando Corporation (South Korea), and Hitachi Automotive Systems Ltd. (Japan) have a strong presence in the region. .
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities for Players in Brake System Market
4.2 Brake System Market, by Region
4.3 Brake System Market, by Technology
4.4 Brake System Market, by Vehicle Type
4.5 Brake System Market, by Brake Type
4.6 Off-Highway Equipment Brake System Market, by Application
4.7 Off-Highway Equipment Brake System Market, by Type
4.8 Brake System Market, by Actuation
4.9 All-Terrain Vehicle Brake System Market, by Region
4.10 North America Brake Friction Products Aftermarket, by Product
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Stringent Safety Regulations
5.2.1.1.1 Reduction of Required Stopping Distance for Light and Heavy-Duty Vehicles Through Regulations
5.2.1.1.2 Inclusion of Advanced Brake Systems Such as Abs and Ebd to Enhance Vehicle Safety
5.2.1.2 Integration of Acc in Electronic Braking Systems to Enhance Vehicle Handling
5.2.1.3 Impact of New Car Assessment Program (Ncap)
5.2.2 Restraints
5.2.2.1 High Development and Maintenance Costs of Advanced Braking Technology
5.2.3 Opportunities
5.2.3.1 Adoption of Brake-By-Wire Systems
5.2.3.2 Government Regulations to Make Advanced Emergency Braking Systems Mandatory
5.2.3.3 Increased Use of Regenerative Braking in Ev Ecosystem
5.2.4 Challenges
5.2.4.1 Malfunctioning of Electronic Braking Systems
5.2.4.2 Air Brake Freeze-Ups
5.3 Trends/Disruptions Impacting Customer’S Business
5.4 Brake System Market, Scenarios (2018-2027)
5.5 Market Ecosystem
5.6 Technology Analysis
5.7 Case Study Analysis
5.8 Patent Analysis
5.9 Average Selling Price Analysis
5.9.1 by Brake Type
5.9.2 by Vehicle Type
5.9.3 by Technology
5.10 Value Chain Analysis
5.11 Porter’s Five Forces Analysis
5.12 Trade Analysis
5.13 Regulatory Landscape
5.14 Key Stakeholders in Buying Process & Buying Criteria
5.15 Key Conferences
6 Brake System Market, by Brake Type
6.1 Introduction
6.1.1 Research Methodology
6.1.2 Assumptions/Limitations
6.1.3 Industry Insights
6.2 Disc Brake
6.2.1 Better Heat Dissipation and Self-Adjusting Friction Material to Drive Demand
6.3 Drum Brake
6.3.1 Cost-Sensitive Nature of Emerging Markets Expected to Drive Demand
7 Brake System Market, by Technology
7.1 Introduction
7.1.1 Research Methodology
7.1.2 Assumptions/Limitations
7.1.3 Industry Insights
7.2 Anti-Lock Brake System (Abs)
7.2.1 Regulations to Mandate Abs Expected to Drive Segment
7.3 Electronic Stability Control (Esc)
7.3.1 Reduction of Fatalities and Technical Benefits Expected to Drive Segment
7.4 Traction Control System (Tcs)
7.4.1 Better Traction Control and Limited Wheel Slippage Expected to Drive Segment
7.5 Electronic Brake Force Distribution (Ebd)
7.5.1 Stringency in Safety Regulations Expected to Drive Segment
8 Brake System Market, by Vehicle Type
8.1 Introduction
8.1.1 Research Methodology
8.1.2 Assumptions/Limitations
8.1.3 Industry Insights
8.2 Passenger Car
8.2.1 Stringent Safety Standards Expected to Drive Segment
8.3 Light Commercial Vehicle (Lcv)
8.3.1 Growing Demand for Advanced Braking Systems Expected to Drive Segment
8.4 Truck
8.4.1 Introduction of Electronic Brake Systems Expected to Drive Segment
8.5 BUS
8.5.1 Adoption of Efficient Brake Systems Expected to Drive Segment
9 Brake System Market, by Actuation
9.1 Introduction
9.1.1 Research Methodology
9.1.2 Assumptions/Limitations
9.1.3 Industry Insights
9.2 Hydraulic Brake
9.2.1 Light Construction and Low Overall Weight to Drive Demand
9.3 Pneumatic Brake
9.3.1 Safety Regulations for Heavy Commercial Vehicles to Drive Demand
10 Off-Highway Equipment Brake System Market, by Application
10.1 Introduction
10.1.1 Research Methodology
10.1.2 Assumptions/Limitations
10.1.3 Industry Insights
10.2 Agricultural Equipment
10.2.1 Growing Demand for High-Powered Tractors to Drive Demand for Oil-Immersed Disc Brakes
10.3 Construction Equipment
10.4 Mining Equipment
11 Off-Highway Equipment Brake System Market, by Brake Type
11.1 Introduction
11.1.1 Research Methodology
11.1.2 Assumptions/Limitations
11.1.3 Industry Insights
11.2 Hydrostatic Brake
11.2.1 Increasing Deployment of Mining Equipment with Hydrostatic Braking Expected to Drive Segment
11.3 Hydraulic Wet Brake
11.3.1 Safety Regulations for Heavy Commercial Vehicles Expected to Drive Segment
11.4 Dynamic Brake
11.4.1 Stringency in Safety Standards Expected to Drive Segment
11.5 Others
12 North America Brake Friction Products Aftermarket, by Product
12.1 Introduction
12.1.1 Research Methodology
12.1.2 Assumptions/Limitations
12.1.3 Industry Insights
13 All-Terrain Vehicle Brake System Market, by Region
13.1 Introduction
13.1.1 Research Methodology
13.1.2 Assumptions/Limitations
13.1.3 Industry Insights
14 Regenerative Braking System Market, by Electric Vehicle Type
14.1 Introduction
14.1.1 Research Methodology
14.1.2 Assumptions/Limitations
14.1.3 Industry Insights
14.2 Bev
14.2.1 Attractive Government Initiatives and Stringent Emission Standards to Drive Bev Sales
14.3 Phev
14.3.1 Growing Sales Due to Stringent Emission Standards to Drive Demand
15 Brake System Market, by Region
16 Competitive Landscape
16.1 Overview
16.2 Key Player Strategies/Right to Win
16.3 Revenue Analysis of Top Five Players, 2019-2021
16.4 Market Share Analysis
16.5 Competitive Leadership Mapping
16.5.1 Stars
16.5.2 Emerging Leaders
16.5.3 Pervasive Players
16.5.4 Participants
16.6 Competitive Leadership Mapping: Off-Highway Equipment Brake System Manufacturers
16.6.1 Stars
16.6.2 Emerging Leaders
16.6.3 Pervasive Players
16.6.4 Participants
16.7 Competitive Scenario
16.8 New Product Launches
16.9 Deals, Agreements, Partnerships, Collaborations, Expansion, and Joint Ventures
17 Company Profiles
17.1 Key Players
17.1.1 Continental Ag
17.1.2 Robert Bosch Gmbh
17.1.3 Zf Friedrichshafen Ag
17.1.4 Akebono Brake Industry Co. Ltd.
17.1.5 Brembo S.P.A.
17.1.6 Aisin Seiki Co. Ltd.
17.1.7 Hitachi Astemo Ltd.
17.1.8 Knorr-Bremse Ag
17.1.9 Haldex Ab
17.1.10 Denso Corporation
17.2 Other Players
17.2.1 Mando Corporation
17.2.2 Hyundai Mobis Co. Ltd.
17.2.3 Wuhan Youfin Auto Parts Co. Ltd.
17.2.4 Advics Co. Ltd.
17.2.5 Wuhu Bethel Automotive Safety System Co. Ltd. (Wbtl)
17.2.6 Beringer
17.2.7 Ebc Brakes
17.2.8 Nifo Srl
17.2.9 Bwi North America Inc
17.2.10 Meritor, Inc.
17.3 North America Players – Company Profiles
17.3.1 Brake Parts Inc. LLC
17.3.2 Jacobs Vehicle Systems, Inc.
17.3.3 Wagner Brake
17.3.4 Bludot Manufacturing
17.3.5 Carlisle Brake & Friction
17.3.6 Ametek Inc.
17.3.7 Ausco Products, Inc.
17.3.8 Muller Brakes America Inc.
17.3.9 Momentum Usa, Inc.
17.3.10 Midwest Brake
18 Recommendations
19 Appendix
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