Automotive Brake System Market Trends, Market Share, Industry Size, Growth, Opportunities and Market Forecast – 2022 to 2028

The global automotive braking system market is expected to grow at a CAGR of 3.4% during the forecast period. Brakes are one of the most crucial aspects of a vehicle. Disc brakes and drum brakes are two different types of brakes. A disc brake is a type of brake that is mounted to the rotating wheel and is constructed of cast iron or carbon-carbon and ceramic-matrix composites. Friction material, in the form of brake pads, is pressed against both sides of the discs to stop the wheel, generating friction and finally decelerating or stopping the wheel. A drum brake is a type of brake that uses a collection of pads or shoes to create friction against a revolving drum-shaped element known as the brake drum.

The global automotive brake system market is expected to develop due to factors such as rising demand for safety features in automobiles and technical advances in safety features. Furthermore, regulatory rules for car safety are propelling the sector forward. High installation and maintenance expenses, on the other hand, are expected to stifle industry expansion. Furthermore, the development of improved braking systems for two-wheelers as well as expansion into the untapped market of developing countries provide significant growth prospects for the global automotive brake system market participants. Owing to an increase in the frequency of road accidents around the world, demand for safety features such as antilock braking systems (ABS), traction control, electronic stability control, tyre pressure monitors, airbags, and telematics is on the rise. According to the Association for Safe International Road Travel (ASIRT), about 1.3 million people die in road accidents each year, with 3,287 deaths per day on average. Furthermore, road traffic collisions are the tenth biggest cause of death worldwide, accounting for 2.2% of all mortalities. People are concerned about these circumstances and want safety systems built into their vehicles. Automobile manufacturers are developing safety measures for vehicles as a result of these circumstances.

Automobile manufacturers are continually developing new and improved products to make driving more comfortable and safer. Players commonly design antilock braking systems, electronic stability control, and anti-collision equipment in order to create safer and better vehicles. Continental AG developed the third generation of the antilock braking system (ABS) in February 2018, which responds to vehicle speeds while also offering safer, more controllable, and optimal brake performance while driving. In November 2017, Bosch released an antilock braking system for eBikes that prevents the front wheel from locking up and controls the back wheel from rising. Furthermore, antilock braking systems with electronic stability control (ESC) are now available to prevent skidding and bring vehicles under control.

Market Coverage

• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
  • By Type
  • By Technology
  • By Vehicle Type
  • By Sales Channel
• Regions Covered-
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World
• Competitive Landscape- Aisin Seiki Co., Ltd., Autoliv Inc., and Continental AG, 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 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 Type

• Disc
• Drum

By Technology

• Antilock Braking System (ABS)
• Traction Control System (TCS)
• Electronic Stability Control (ESC)
• Electronic Brake Force Distribution (EBD)

By Vehicle Type

• Passenger ICE Vehicle
• Commercial ICE Vehicle
• Electric Vehicle

By Sales Channel

• OEM
• Aftermarket