According to Automotive Brake System Market 2019 Global Industry Analysis To 2023, report on “Global Automotive Brake System Industry” published by Market Research Future, The Global Automotive Brake System market expected to rise at a CAGR of 6.89% by 2023.
— Automotive Brake System Market 2019 Global Industry Analysis To 2023, report on “Global Automotive Brake System Industry” published by Market Research Future. Global Automotive Brake System Market Information by Brake Type (Disc and Drum), Brake System (ABS, TCS, ESC, and Others), Vehicle Type (Passenger Cars and Commercial Vehicles) and Region – Forecast till 2023.
Major Automotive Brake System Companies covered in the market report include Continental AG (Germany), Robert Bosch GmbH (Germany), ZF Friedrichshafen AG (Germany), Knorr-Bremse AG (Germany), Wabco Holdings, Inc. (U.S.), Aisin Seiki Co, Ltd. (Japan), Halla Mando Corp. (South Korea), TRW Automotive Holdings Corp (U.S.), Akebono Brake Industry Co. Ltd. (Japan), and Valeo (France).
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Global Market Highlights:
Global Automotive Brake System market has seen remarkable growth; expected to rise at a CAGR of 4.40% and reach Reach USD 30.95 billion by 2023. Brake system 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.
Acknowledging the growth, the market is attaining at present, Market Research Future (MRFR) in its recently published analysis confirms that the global automotive braking system market is expected to reach USD 30.95 Bn by 2023; registering approximately 6.89% CAGR throughout the review period (2017 to 2023).
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.
MRFR has segmented the Automotive Brake System analysis into four key dynamics; for better understanding: -
By Brake Type: Disc and Drum
By Brake System: ABS, TCS, and ESC, among others.
By Vehicle Type: Commercial Vehicles, Passenger Cars, and others.
By Regions: Europe, North America, Asia Pacific (APAC), and Rest-of-the-World (RoW).
Geographic segmentation of the global Automotive Brake System market, as done in MRFR report, can be segmented into Europe, Asia Pacific (APAC), North America, and the Middle East & Africa (MEA).
Geographically, Asia-Pacific is dominating the market with increasing vehicle production in countries such as India and China and focus on increasing production capacity, are driving the market for automotive braking system. Robust economic growth and escalating lifestyles are pushing the market towards growth.
Moreover, high production of vehicles, increasing operational performance, improving drivability and ensuring safety are some of the factors, which boost the market of Asia-Pacific. Many countries including China, Japan, and others are prime manufacturing hubs for a variety of industries including automobile manufacturing. The large-scale use of automotive braking systems in these regions, boost the market.
Table Of Contents
1 Executive Summary
2 Research Methodology
2.1 Scope Of The Study
2.1.2 Research Objective
2.2 Research Process
2.2.1 Primary Research
2.2.2 Secondary Research
2.3 Market Size Estimation
2.4 Forecast Model
3 Market Dynamics
3.1 Market Drivers
3.2 Market Inhibitors
3.3 Supply/Value Chain Analysis
3.4 Porter’s Five Forces Analysis
4 Global Automotive Brake System Market, By Brake Type
5 Global Automotive Brake System Market, By Brake System
6 Global Automotive Brake System Market, By Vehicle Type
6.2 Passenger Cars
List of Tables:
TABLE 1 GLOBAL Automotive Brake System MARKET, BY BRAKE TYPE
TABLE 2 GLOBAL Automotive Brake System MARKET, BY BRAKE SYSTEM
TABLE 3 GLOBAL Automotive Brake System MARKET, BY VEHICLE TYPE
TABLE 4 GLOBAL Automotive Brake System MARKET, BY REGIONS
TABLE 5 NORTH AMERICA Automotive Brake System MARKET, BY BRAKE TYPE
List of Figures:
FIGURE 1 RESEARCH METHODOLOGY
FIGURE 2 GLOBAL Automotive Brake System MARKET: BY BRAKE TYPE (%)
FIGURE 3 GLOBAL Automotive Brake System MARKET: BY BRAKE SYSTEM (%)
FIGURE 4 GLOBAL Automotive Brake System MARKET: BY END MARKET (%)
FIGURE 5 GLOBAL Automotive Brake System MARKET: BY REGION
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