Market Insights and Analysis: Global Automotive Brake System Market Overview and Projections (2024-2030)
The Global Automotive Brake System Market size was valued at USD 23.25 billion in 2023 and is estimated to grow at a CAGR of around 6.1% during the forecast period, i.e., 2024-30. The market is poised for growth, driven by several key factors like stringent safety regulations aimed at enhancing vehicle safety standards & compelling automotive manufacturers to invest in advanced brake systems.
Top leading companies in the Global Automotive Brake System Market includes:
Brembo S.p.A., Continental AG, ZF Industrial Technology Division,  Robert Bosch Gmbh, Akebono Brake Industry Co., Ltd., Aisin Seiki  Co., Ltd., Hitachi Astemo Ltd., Knorr-Bremse Ag, Haldex Ab, Denso  Corporation, Mando Corporation, Hyundai Mobis Co., Ltd., Wuhan  Youfin Auto Parts Co., Ltd., Bethel Automotive Safety System Co., Ltd.  (WBTL), Beringer, Others.
Global Automotive Brake System Market Challenge:
High Costs of Advanced Braking Technology Slows Down the Market Growth – Conventional braking systems are made up of brake pads, brake shoes & brake fluids, which are relatively low costs. However, automatic brake systems have sensors based on advanced technologies like integration with IoT that make the costs of these brakes significantly higher than the traditional brake systems. Moreover, these braking systems require frequent maintenance to ensure the smooth functioning of the vehicles. The maintenance involves regular lubrication & replacement of the brake fluids, which acts as an additional cost for the consumers. Based on the company website, the average repair of the sensors, a pivotal component of the automotive brake system, lies between USD150 to USD400. Therefore, the end-users refrain from purchasing automotive brake systems and tend to use vehicles with conventional brake systems. In addition, the repairing costs of these brake systems are also higher since the repairing includes the replacement of the expensive essential components, like drums & pads. Therefore, individuals rely on conventional braking systems rather than automotive brake systems, restraining the Global Automotive Brake System Market growth.
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Report Segmentation:
The market is categorized into the following segments in the report:
By Brake Type
-Disc Brakes- Market Size & Forecast 2019-2030, (USD Million)
-Drum Brakes- Market Size & Forecast 2019-2030, (USD Million)
-Hydrostatic Brakes- Market Size & Forecast 2019-2030, (USD Million)
-Hydraulic Wet Brakes- Market Size & Forecast 2019-2030, (USD Million)
-Dynamic Brakes- Market Size & Forecast 2019-2030, (USD Million)
-Others- Market Size & Forecast 2019-2030, (USD Million)
 By Technology
-Anti-lock Braking System (ABS)- Market Size & Forecast 2019-2030, (USD Million)
-Electronic Stability Control (ESC)- Market Size & Forecast 2019-2030, (USD Million)
-Traction Control System (TCS)- Market Size & Forecast 2019-2030, (USD Million)
-Electronic Brakeforce Distribution (EBD)- Market Size & Forecast 2019-2030, (USD Million)
-Automatic Emergency Braking (AEB)- Market Size & Forecast 2019-2030, (USD Million)
 By Vehicle Type
-Passenger Cars- Market Size & Forecast 2019-2030, (USD Million)
-Light Commercial Vehicles- Market Size & Forecast 2019-2030, (USD Million)
-Trucks- Market Size & Forecast 2019-2030, (USD Million)
-Buses- Market Size & Forecast 2019-2030, (USD Million)
 By Actuation Type
-Hydraulic- Market Size & Forecast 2019-2030, (USD Million)
-Pneumatic- Market Size & Forecast 2019-2030, (USD Million)
 By Component
-Master Cylinders- Market Size & Forecast 2019-2030, (USD Million)
-Brake Pads- Market Size & Forecast 2019-2030, (USD Million)
-Brake Shoes- Market Size & Forecast 2019-2030, (USD Million)
-Brake Calipers- Market Size & Forecast 2019-2030, (USD Million)
-Brake Disc Rotors- Market Size & Forecast 2019-2030, (USD Million)
 By Electric Vehicle Type
-Battery EVs- Market Size & Forecast 2019-2030, (USD Million)
-Plug-in Hybrid EVs- Market Size & Forecast 2019-2030, (USD Million)
 By Application
-Agricultural Tractors- Market Size & Forecast 2019-2030, (USD Million)
-Construction Equipment- Market Size & Forecast 2019-2030, (USD Million)
-Mining Equipment- Market Size & Forecast 2019-2030, (USD Million).
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Global Automotive Brake System Market Geographic Reach:
The Geographic Reach of the Global Automotive Brake System Market evaluates the spread and significance of Global Automotive Brake System market consumption across different regions/country, emphasizing areas with the largest market size and the most promising growth potential.
- North America: US, Canada, Mexico
- Europe: Germany, The UK, France, Spain, Italy, Rest of Europe
- Asia-Pacific: China, India, Japan, South Korea, Australia, Rest of Asia- Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, South Africa, Rest of MEA.
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