Global Automotive Brake System Market, By Type(Disc Brake and Drum Brake), By Vehicle Type, By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032

Report Overview

The Global Automotive Brake Systems Market size is expected to be worth around USD 60.60 Billion by 2032 from USD 37.3 Billion in 2022, growing at a CAGR of 5.10% during the forecast period from 2023 to 2032.

As demand for passenger and commercial vehicles grows in countries like China and India, the market for automotive brake systems is expected to expand significantly. The growing adoption of luxury cars, stringent safety regulations, and increased use of disc brakes in commercial vehicles have all contributed to the expansion of this market. Additionally, brake components only last so many kilometers before needing replacement – further driving up the repair market.

Participants have also implemented more robust safety systems in response to concerns about traffic accidents and an increasing death toll. Due to stringent safety protocols set by government bodies and regulatory organizations, the market for car brake systems will continue to expand. Additionally, research and development efforts geared at the introduction of new technologies as well as market participants’ involvement in creating innovative systems are anticipated to drive market expansion during the forecast period.

Driving Factors

Inclusion of advanced brake systems such as ABS and EBD to enhance vehicle safety

Stopping distances can be reduced using electrical braking systems such as Anti-lock Brake Systems (ABS), Electrical Brakeforce Distribution (EBD), and Brake Assist (BA). ABS helps shorten stopping distances when applying force by providing car stability and directional control. ABS offers many advantages over traditional stopping systems, including increased steadiness and shorter stopping distances.

BA is often combined with ABS to maximize vehicle braking power; EBD acts as an extension of ABS by applying consistent power to each wheel. EBD benefits include better traction on roads and improved vehicle maneuverability due to EBD’s function as an extension of ABS.

Restraining Factors

High Costs of Braking Technology Development and Maintenance

The cost of general maintenance on the brake system can be quite high. This includes replacing brake fluid, brake shoes, and brake pads, as well as cleaning and adjusting other braking mechanisms that are more costly. The cost of maintaining an ABS can be high as the sensors that are placed on each wheel can run into hundreds of dollars.

The penetration of advanced electronic systems in high-end cars is restricted in cost-sensitive countries like India and Brazil. Further, such systems are not Accepted because of the high maintenance costs.

Growth Opportunities

Government rules requiring the use of sophisticated emergency braking devices

To reduce car crashes, more than 40 countries have agreed to the draft United Nations Regulation on the advanced emergency brake (AEB) systems in cars and light vehicles. The EU has amended Regulation No 152-00 to allow AEB systems in light passenger and commercial vehicles. Vehicle manufacturers are required to include AEB in all new vehicles.

AEB systems must be tested at 60 MPH by vehicle manufacturers, according to the regulation. because of mandatory government mandates, advanced emergency brake (AEB), is becoming more popular. AEB can help avoid collisions, reduce the intensity of collisions, increase the braking force, and is effective on both urban and highways.

Latest Trends

Growing Investments into R&D Activities by Key Players to Drive Demand in the Market

To make driving cars easier and safer, automakers are constantly developing new products. Companies offer electronic stability control and anti-lock braking systems that work together to avoid skidding and keep vehicles under control. As a result, improvements in car safety technology may spur the market for automotive brake systems to expand. Players often create anti-lock braking systems, electronic stability control, stop-by-wire, and anti-collision devices to make safer and better cars.

Type Analysis

Drum brakes and disc brakes are the two primary categories within the automotive brake system industry. Disc brakes have long been a leader, dominating the disc brake sector due to their ability to function in adverse weather conditions without overheating or fading. Furthermore, disc brakes’ interoperability with other modern systems is propelling growth within this sector as well.

Drum brakes employ a narrow rotor and caliper to stop wheel motion, while disc brakes use an enclosed design with circular components to provide friction for slowing speed. Unfortunately, drum-based systems offer greater braking capacity than disc-based ones but manufacturers typically select drums due to their more affordable price.

Vehicle Analysis

Commercial vehicles and passenger automobiles are the two primary markets for automotive brake systems based on vehicle type. Passenger cars dominate this market share due to increasing populations, increased disposable income, and urbanization. Manufacturers strive to design more effective braking systems to add safety features.

To provide greater braking force on different terrain types, numerous companies are developing various versions of brake systems. In turn, high-performance lightweight braking systems have emerged on the market as manufacturers place great emphasis on reducing system weight.

Technology Analysis

Technology-based market segments for vehicle brake systems include electronic brake-force distribution, traction control systems, antilock brake systems (ABS), and stability control systems. The market for automotive brake systems is dominated by the ABS sector. The aggressive push by several car industry groups to compel the deployment of ABS in strategic areas is what has led to the growth of ABS technology Similarly, electronic stability control technology is gaining popularity due to perceptions of its advantages in regaining vehicle control in an emergency.

As a result, it is anticipated to fuel the market for automotive brake systems during the anticipated era. It is expected that the Traction Control System (TCS )sector will grow. TCS technology boosts safety by guaranteeing grip in challenging driving situations. For effective operation, TCS is typically used in conjunction with an anti-lock braking system. Through the application of brake power by ABS and throttle control, traction control prevents wheel spin.

Sales Channel Analysis

The main source of sales for car brake systems is OEMs. OEMs buy brake systems from vendors and incorporate them into their cars as they are being built. The OEM market is anticipated to expand as worldwide auto production rises.

Another important sales avenue for automotive brake systems is aftermarket sales. Sales of brake systems for replacement and maintenance are considered aftermarket sales. Both independent repair facilities and licensed dealerships are included in this category.

Key Market Segments:

Based on Type

• Disc Brake
• Drum Brake

Based on Vehicle Types

• Passenger Cars
• Commercial Vehicles
• Other Vehicle Types

Based on the Sales Channel

• Original Equipment Manufacturers
• Aftermarket

Based on Technology

• Antilock Braking Systems
• Electronic Stability Control
• Traction Stability Control
• Electronic Brakeforce Distribution

COVID-19 Impact Analysis

The market for car brake systems was adversely affected by the COVID-19 pandemic. Lockdowns, travel bans, and economic uncertainty caused by this crisis caused a sharp decrease in demand. Many automakers were forced to shut down their factories early on, which limited the supply of automotive brake systems. Furthermore, many customers put off purchasing new cars until after the crisis had passed.

Nevertheless, the automotive industry is beginning to recover as lockdowns have been lifted and economies are operating normally again. Therefore, it is expected that demand for automotive brake systems will increase in the upcoming years.

Regional Analysis

Asia-Pacific held the biggest market share for automotive brake system market revenue in 2022 due to the low cost of labor and raw materials. Businesses located there offer substantial cost savings, while car manufacturing centers are located in nations such as China or India. The industry is expected to expand because of the rising popularity of automotive brake systems and increasing sales of luxury and premium vehicles; further, a rising car ownership rate and an increasing accident rate all support market expansion.

North America’s automotive market has grown because of rising demand for vehicles that perform better in adverse weather conditions, the presence of major automakers, and an expansion in both passenger cars and light commercial vehicles available on the market.

Key Regions and Countries Covered in this Report:

• North America
  • The US
  • Canada
  • Mexico
• Western Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Portugal
  • Ireland
  • Austria
  • Switzerland
  • Benelux
  • Nordic
  • Rest of Western Europe
• Eastern Europe
  • Russia
  • Poland
  • The Czech Republic
  • Greece
  • Rest of Eastern Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Australia & New Zealand
  • Indonesia
  • Malaysia
  • Philippines
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC
• Latin America
  • Brazil
  • Colombia
  • Chile
  • Argentina
  • Costa Rica
  • Rest of Latin America
• Middle East & Africa
  • Algeria
  • Egypt
  • Israel
  • Kuwait
  • Nigeria
  • Saudi Arabia
  • South Africa
  • Turkey
  • United Arab Emirates
  • Rest of MEA

Market Share & Key Players Analysis:

Businesses are primarily concerned with developing reliable, long-lasting, and environmentally friendly braking systems. To that end, they make significant investments in research & development to create cutting-edge braking system technologies.

Main businesses have invested a great deal of money into R&D to increase their market share and ensure steady growth for years to come. Furthermore, they are actively seeking ways to expand production capability and geographic reach.

Top Key Players in the Automotive Brake Systems Market

• Advics Co. Ltd.
• ZF Friedrichshafen AG
• Akebono Brake Industry Co.
• Hitachi Automotive System
• Brembo SpA
• Robert Bosh GmbH
• Aisin Seiki Co. Ltd.
• Haldex AB
• Web Co.
• Nissin Kogyo Co. Ltd.
• BWI Group
• Mando Corporation
• Continental AG
• Batz Group
• TE Connectivity
• Cardollite Corporation
• Kor-Pak Corporation
• Pro-Tech Friction Group
• Trimat Limited
• Other Market Players

Recent Developments:

• March 2022: A review of Brembo brake usage in Catalonia, with information on the anti-drug technology that is also offered for street-legal vehicles.
• May 2022: Instructions for using Brembo brakes in Moto GP and on public roads, as well as details on their application in the French GP.
• April 2022: Brembo MotoE systems specs and the best brake discs for the track
• April 2022: Brembo’s most recent replacement options for commercial vehicles include a broad selection of brake discs and a complete range of brake pads.

Report Scope: