The key players in global automotive braking system market are Robert Bosch GmbH (Germany), Continental AG (Germany), ZF Friedrichshafen AG (Germany), Wabco Holdings, Inc. (U.S.), Knorr-Bremse AG (Germany), Aisin Seiki Co, Ltd. (Japan), TRW Automotive Holdings Corp (U.S.), Halla Mando Corp. (South Korea), Akebono Brake Industry Co. Ltd.(Japan), Valeo (France).
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The global market for automotive braking system is majorly driven by factors such as increase demand for automotive, government mandates to improve the vehicle safety and others.
The developing automotive industry has largely impacted engineering advancements for performance improvement in vehicles. Brakes play an important role in ensuring safety, which is very essential given the steadily rising demand for speed. Automotive Braking system market is witnessing the advent of advanced technological developments such as ABS, TCS, ESC and others. Development of braking technology serves as a boost to the overall automotive braking industry. Moreover, increasing demand for commercial, passenger vehicles along with government mandates for improving vehicle safety, is a major market driver for the growth of automotive braking system. However, higher cost of the newer technology of Electronic Brake Systems (EBS), acts as a major restraint for automotive braking system market.
The market is segmented on the basis of brake type, brake system, vehicle type, and region. On the basis of brake type, the market is segmented as disc brake and drum brake. Disc brake is expected to account for the largest market share during the forecast period due to the rise in safety regulations by the government. In North America and Europe, the emphasis on increasing the stopping distance, has led to the growth of the disc brake market. Currently, there is an increase in the production of passenger cars, which will drive the growth of the disc brake market. On the basis of brake system, traction control system (TCS) is expected to account for the largest market during the forecast period due to the growing technology in braking system. Government have set various regulations to make use of this type of braking system for the safety of people. Based on vehicle type, passenger car is expected to account for the largest market during the forecast period due to increase in production of passenger cars.
Brake is a mechanism that prevents motion of the vehicle by absorbing energy when the vehicle is in moving condition. Thus, braking system is also used to stop the vehicle or slowing down of vehicle. There are various types of brake systems that are installed in the vehicle such as ABS, TCS, and ESC. They provide safety to the vehicle when the vehicle is in motion. The global automotive braking system market is expected to account for market size of 30.95 billion by 2023 with 6.89% CAGR.
Table Of Contents:
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.2 Research Objective
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimatio
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Threat Of Substitutes
3.1.4 Segment Rivalry
3.1.5 Bargaining Power Of Buyers
3.2 Value Chain/Supply Chain Analysis
4 Market Dynamics
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
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