Global Commercial Vehicle Braking Systems Market Size, Share and Trends Analysis Report, by Type (Drum Brake, and Disc Brake), by Breaking System (Mechanical Brake, Disc Brake, Hydraulic Brake, Power-Assisted Brake, Air Brake, Electric, and Hand Brake System), by Technology (Antilock Braking Systems (ABS), Electronic Stability Control (ESC), Traction Stability Control (TCS), and Electronic Brake force Distribution (EBD)), and by Application (Light Commercial Vehicles (LCVs), and Heavy Commercial Vehicles (HCVs)), Forecast Period (2022-2028)

The global commercial vehicle braking systems market is anticipated to grow at a CAGR oh 5.7% during the forecast period (2022-2028). One of the factors driving the commercial vehicle braking system market is the increase in road accident deaths and the expansion of the aftermarket. The investment in active and passive security in automobiles is becoming more popular. Rapid growth in vehicle manufacturing and sales, as well as stringent regulations regarding stopping distances are expected to positively influence the growth of the commercial vehicle brake system market. One of the most difficult challenges for the commercial vehicle brake system is reducing emissions from brake wear. Vehicle emissions from both exhaust and non-exhaust sources are estimated to contribute nearly equally to particulate matter (PM) emissions. Only a few of the major automotive industries have made breakthroughs in braking technologies. Furthermore, the growing demand for lightweight items is expected to create opportunities for the growth of commercial vehicle braking system market players.

However, advanced braking technologies involve complex interlinking of electronic and mechanical systems that is sometimes dangers. ABS requires additional components that includes sensors, pumps, valves, and controllers, and hence, they are more expensive than conventional braking systems, this factors is hampering market growth.Due to the increasing demand for commercial and passenger vehicles, Asia-Pacific is predicted to dominate the commercial vehicle braking systems market. The region’s growing population and lower labour costs are enticing automotive industry players to increase manufacturing efficiency. Furthermore, the growing aftermarket business for automotive elements and other related products can role positive impact on the commercial vehicle braking system market during the forecast period. Europe is expected to witness the fastest growth in the commercial vehicle braking systems market as component manufacturers use advanced technology in their products to gain a competitive edge and increase revenue generation. The high transportations of automobiles and their associated elements, particularly in commercial vehicle e braking systems, are expected to boost the growth of the industry.

Market Coverage

• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
  • By Type
  • By Breaking System
  • By Technology
  • By Application
• Regions Covered-
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World
• Competitive Landscape- ContiTech, Federal-Mogul, Knorr-Bremse, Hyundai Mobis, Robert Bosch, SKF, Wabco, and ZF Friedrichshafen, 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 Commercial Vehicle Braking Systems Market Report by Segment

By Type

• Drum Brake
• Disc Brake

By Breaking System

• Mechanical Brake
• Disc Brake
• Hydraulic Brake
• Power-Assisted Brake
• Air Brake
• Electric
• Hand Brake System

By Technology

• Antilock Braking Systems (ABS)
• Electronic Stability Control (ESC)
• Traction Stability Control (TCS)
• Electronic Brakeforce Distribution (EBD)

By Application

• Light Commercial Vehicles (LCVs)
• Heavy Commercial Vehicles (HCVs)

Global Commercial Vehicle Braking Systems Market Report by Region

North America

• US
• Canada

Europe

• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe

Asia-Pacific

• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific

Rest of the World

• Latin America
• Middle East & Africa