Global Automotive Brake System Market Size Insights Forecasts to 2032
- The Global Automotive Brake System Market Size was valued at USD 37.19 Billion in 2022.
- The Market is Growing at a CAGR of 5.6% from 2022 to 2032
- The Worldwide Automotive Brake System Market is expected to reach USD 64.67 Billion by 2032
- Europe is expected to grow the fastest during the forecast period
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The Global Automotive Brake System Market Size is expected to reach USD 64.67 Billion by 2032, at a CAGR of 5.6% during the forecast period 2022 to 2032.
The automotive brake system is a crucial feature of any vehicle, playing an important part in maximizing safety because it enables the driver to control and manage the vehicle's speed and bring it to a complete halt when required. This system turns a moving vehicle's kinetic energy into thermal energy, dissipating through friction, and slows or stops the car. The automotive brake system has undergone technological developments, such as the use of regenerative braking in electric and hybrid vehicles, the replacement of conventional hydraulics with brake-by-wire systems, and combining with advanced driver assistance systems (ADAS) for improved safety capabilities. Furthermore, vehicle technology is constantly evolving. With the rise of electric automobiles, regenerative braking systems that gather energy when braking are becoming increasingly widespread. Moreover, brake-by-wire technology provides faster reaction speeds and improved integration with other automotive systems by replacing conventional components with electronic counterparts.
Global Automotive Brake System Market Report Coverage
|Market Size in 2022:
|USD 37.19 Billion
|Forecast Period 2022-2032 CAGR:
|2032 Value Projection:
|USD 64.67 Billion
|Historical Data for:
|No. of Pages:
|Tables, Charts & Figures:
|COVID-19 Impact Analysis, By Type, By Actuation Type, By Technology, By Vehicle Type, and By Region
|Nissin Kogyo Co. Ltd., Robert Bosch GmbH, ZF Friedrichshafen AG, Continental AG, Aisin Seiki Co, Ltd., Halla Mando Corp., Knorr-Bremse AG, Brembo S.p.A, Akebono Brake Industry Co., Haldex AB, Mando Corporation, Advics Co. Ltd., Delphi Technologies, Hitachi Astemo, Ltd., TRW Automotive Holdings Corp., Autoliv Inc., Hella Pagid GmbH, and Other key venders
|Pitfalls & Challenges:
|COVID-19 Empact,Challenges, Future, Growth, & Analysis
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The automobile brake system market is of vital importance to the worldwide car market. As vehicle safety becomes more important, the demand for reliable and innovative brake systems grows. With increased vehicle manufacturing and sales around the world, particularly in emerging nations, demand for brake systems is expanding. In addition, the increased production of electric and hybrid vehicles is altering the brake system industry, with an increased emphasis on regenerative braking. While electric vehicles become more common, regenerative braking will have a major part in conserving energy and improving overall efficiency. Furthermore, as self-driving technology advances, braking systems are going to adapt to interact smoothly with automated driving systems.
Additionally, as technology advances, there is a transition from conventional hydraulic brake systems to electronic brake systems, which provide better vehicle control and lower weight. Advanced braking technologies, such as autonomous emergency braking, are increasingly being incorporated with ADAS. As electric vehicles gain popularity, regenerative braking systems, which aid in energy recovery while braking, are becoming more common. In addition to safety as a top priority and technological improvements on the rise, the automotive brake system is expected to have significant growth over the forecast period.
By Type Insights
The disc brake segment is dominating the market with the largest revenue share over the forecast period.
On the basis of type, the global automotive brake system market is segmented into the disc brake and drum brake. Among these, the disc brake segment is dominating the market with the largest revenue share of 58.6% over the forecast period. This is owing to the growing prevalence of disc brakes in commercial vehicles other than cars as a result of a rising number of accidents and safety considerations around the world. Disc brakes have been increasingly popular in recent years. The ability of disc brakes to perform in inclement weather without overheating or degrading has contributed to their popularity. Furthermore, its compatibility with other modern systems is moving the disc brake industry forward.
By Actuation Type Insights
The hydraulic segment is witnessing significant CAGR growth over the forecast period.
On the basis of actuation type, the global automotive brake system market is segmented into hydraulic and pneumatic. Among these, the hydraulic segment is witnessing significant CAGR growth over the forecast period. The increased production of passenger automobiles and light-duty commercial vehicles (LCV) is fueling the expansion of automotive hydraulic brake systems. Many advantages such as more efficient dissipation of heat than mechanical brakes, improved braking power transmission, lightweight construction, and ease of repair owing to easy access to brake parts in the marketplace are highly important for boosting hydraulic brake system expansion in the global automotive brake system market during the forecast period. The hydraulic brake market in the Asia Pacific is the biggest in the world. Because the automotive hydraulic brake market is closely related to automotive manufacturing, China and India are likely to hold the greatest market shares in the Asia Pacific as a result of increased passenger car and light commercial vehicle manufacturing.
By Technology Insights
The anti-lock brake system segment is expected to hold the largest share of the Global Automotive Brake System Market during the forecast period.
Based on the technology, the global automotive brake system market is classified into anti-lock brake systems, traction control systems, electronic stability control, and electronic brake-force distribution. Among these, the anti-lock brake system segment is expected to hold the largest share of the automotive brake system market during the forecast period. The active initiatives of numerous automotive organizations toward the compulsory deployment of anti-lock brake systems in significant regions have contributed to the growth of anti-lock brake system technology. Additionally, electronic stability control technology is becoming more popular due to its perceived advantages in gaining vehicle control in an emergency. As a result, the automotive braking system market is likely to develop throughout the forecast period.
By Vehicle Type Insights
The passenger car segment accounted for the largest revenue share of more than 57.2% over the forecast period.
On the basis of vehicle type, the global automotive brake system market is segmented into passenger cars, light commercial vehicles, and heavy commercial vehicles. Among these, the passenger car segment is dominating the market with the largest revenue share of 57.2% over the forecast period. Because of the sheer amount of passenger vehicles manufactured and sold, as well as increasing customer expectations for safety and efficiency, this segment has dominated the automotive brake system market. Passenger automobile demand has increased globally due to rising urbanization, improved road infrastructure, and an increasing middle-class population. In addition, higher vehicle safety rules have forced automakers to improve braking capabilities, boosting the market for sophisticated brake systems in this sector even further. Furthermore, the increasing utilization of hybrid and electrically powered cars in the passenger car segment, which necessitate specialized braking systems such as regenerative braking, has increased its market share.
Asia Pacific dominates the market with the largest market share over the forecast period.
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Asia Pacific is dominating the market with more than 38.7% market share over the forecast period. This domination emerges mostly from the vast number of vehicles that are manufactured and distributed in the region, especially throughout China and India. These countries' expanding middle classes, urbanization, and industrialization has transformed the Asia Pacific into an epicentre for the automobile industry. Furthermore, the region's huge car manufacturing facilities, substantial customer base, and expanding demand for passenger and commercial vehicles support this market.
Europe, on the contrary, is expected to grow the fastest during the forecast period. Stringent safety rules, an aggressive drive toward electrification, and a number of multiple globally known automakers all are contributing to Europe's popularity. Europe also contributes significantly to the global automotive brake system market, owing to technical breakthroughs, a strong automotive sector, and a favorable regulatory environment.
List of Key Market Players
- Nissin Kogyo Co. Ltd.
- Robert Bosch GmbH
- ZF Friedrichshafen AG
- Continental AG
- Aisin Seiki Co, Ltd.
- Halla Mando Corp.
- Knorr-Bremse AG
- Brembo S.p.A
- Akebono Brake Industry Co.
- Haldex AB
- Mando Corporation
- Advics Co. Ltd.
- Delphi Technologies
- Hitachi Astemo, Ltd.
- TRW Automotive Holdings Corp.
- Autoliv Inc.
- Hella Pagid GmbH
Key Market Developments
- On June 2023, Tevva, a British electric vehicle manufacturer, recently concluded the development of its 7.5t battery-electric truck's regenerative braking technology with ZF. The German company ZF collaborated with Tevva to develop their EBS for use in the Tevva 7.5t battery electric car, which employs a combination of regenerative and compressed air brakes to increase driver safety and responsiveness.
- On November 2022, Continental obtained a significant contract in the third quarter for the serial manufacturing of their semi-dry brake system (also known as Future Brake System, FBS), worth around €1.5 billion, with series production beginning with a North American car manufacturer in 2025. In addition to the semi-dry brake system, the carmaker purchased Continental Air Supply, a highly integrated air supply system used in conjunction with air springs on the front and rear axles for air suspension.
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Automotive Brake System Market based on the below-mentioned segments:
Automotive Brake System Market, Type Analysis
- Disc Brake
- Drum Brake
Automotive Brake System Market, Actuation Type Analysis
Automotive Brake System Market, Technology Analysis
- Anti-lock Brake System
- Traction Control System
- Electronic Stability Control
- Electronic Brake-force Distribution
Automotive Brake System Market, Vehicle Type Analysis
- Passenger Car
- Light Commercial Vehicles
- Heavy Commercial Vehicles
Automotive Brake System Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Frequently Asked Questions (FAQ)
What is the market size of the Automotive Brake System market?The Global Automotive Brake System Market is expected to grow from USD 37.19 billion in 2022 to USD 64.67 billion by 2032, at a CAGR of 5.6% during the forecast period 2022-2032.
Which are the key companies in the market?Nissin Kogyo Co. Ltd., Robert Bosch GmbH, ZF Friedrichshafen AG, Continental AG, Aisin Seiki Co, Ltd., Halla Mando Corp., Knorr-Bremse AG, Brembo S.p.A, Akebono Brake Industry Co., Haldex AB, Mando Corporation, Advics Co. Ltd., Delphi Technologies, Hitachi Astemo, Ltd., TRW Automotive Holdings Corp., Autoliv Inc., Hella Pagid GmbH
Which segment dominated the Automotive Brake System market share?The passenger cars segment in vehicle type dominated the Automotive Brake System market in 2022 and accounted for a revenue share of over 57.2%.
Which region is dominating the Automotive Brake System market?Asia Pacific is dominating the Automotive Brake System market with more than 38.7% market share.
Which segment holds the largest market share of the Automotive Brake System market?The disc brake segment based on type holds the maximum market share of the Automotive Brake System market.
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