The global automotive brake system market is anticipated to grow at a considerable CAGR of 3.2% during the forecast period (2022-2028). The rise in road accidents has driven the growth of the automotive brake system market. According to the data published by WHO in 2021, road traffic injuries are the leading cause of mortalities in children and young adults aged 5-29 years and about 73.0% of all road traffic injuries occur among young males under the age of 25 years. Approximately 1.3 million mortalities occur annually as a result of road traffic crashes. More than 90.0% of the world’s fatalities on the roads occur in low – and middle-income countries. Moreover, an estimated 20 million – 50 million people suffer from non-fatal injuries, with many incurring a disability as a result of their injury. Thus, the installation of effective automotive brakes is anticipated to reduce the prevalence of road traffic accidents, which in turn will drive the growth of the global automotive brake system market.
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The government regulation in support of automotive braking systems to ensure safety among passengers is anticipated to drive the growth of the market. For instance, in March 2019, the Ministry of Road Transport & Highways mandated the advanced braking systems, technologies, and performance requirements for improved road safety and reducing accidents. The provision is applied to all vehicles with 9 seats and above. Further, the new vehicles rolling out from April 2022 will have these fitted. This includes an anti-lock braking system, intelligent braking system, endurance braking requirement, and more. Thus, such regulations are anticipated to fuel the demand for the global automotive brake system market.
Looking toward the demand for automotive brake system, key market players are adopting various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in December 2021, Brembo S.p.A had unveiled Sensify, an intelligent braking system that integrates the software on artificial intelligence with the company’s brake components. According to the company, Sensify is anticipated to be on the market from 2024.
Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Brake Type
- By Vehicle type
- By Technology
- By Sales channel
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Wabco Holdings Inc., Mando Corp., and Robert Bosch GmbH among others
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Automotive Brake System Market Report by Segment
By Brake Type
- Disc Brake
- Drum Brake
By Vehicle Type
- Mid-Sized Passenger Cars
- Luxury Passenger Cars
- Heavy Commercial Vehicles
- Light Commercial Vehicles
- Premium Passenger Cars
By Technology
- Anti-Lock Braking System (ABS)
- Electronic Stability Control (ESC)
- Traction Control System (TCS)
- Electronic Brake Force Distribution (EBD)
By Sales channel
- OEM
- Aftermarket
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