How is the Automotive Braking System Enhancing Road Safety?

Published On: October 2022

With people's continuously improving living standards, every other household owns a car. Car traffic increases directly proportional to the increasing incidences of road accidents. Corrosion, aging, and extended braking distance, among others, are common reasons that lead to brake failure. Many accidents take place due to sudden mechanical failures in vehicles. The brake system is a safety feature of cars, and its technical condition directly affects operational safety and transportation efficiency. Evolving vehicle designs with modified architecture have intelligent braking systems to meet the future needs and requirements of automated driving and electrification. Modern vehicles combine uncompromising safety and sustainability in their brake systems.
As the demand for passenger and commercial vehicles rises in nations like China and India, the automotive braking industry is anticipated to grow significantly. The popularity of expensive cars, the adoption of safety regulations, and the rising use of disc brakes in commercial vehicles contribute to the market's expansion. Additionally, brake parts have a limited lifespan before needing to be replaced, increasing the demand for replacements. By 2030, the automotive braking system market growth is anticipated to be worth USD 44,514.6 million, reaching a CAGR of 5.5% from 2022 to 2030.
A standard brake is a mechanical device that stops a moving system by absorbing energy from the system, typically through friction. To stop cars as quickly as possible, automotive anti-lock braking systems transform kinetic energy into heat energy. The automotive anti-lock braking system market is divided into disc brakes and drum brakes based on the kind of brake type. The market is divided into ABS, TCS, ESC, and others for the brake system category.
The automotive braking industry in China, Japan, and India is mainly driven by the increasing manufacturing of auto parts, particularly automobile brakes. Asia-Pacific is attracting participants in the automobile industry to set up production facilities due to the growing population and affordable labor costs. The automotive braking industry will also be positively impacted by the expanding aftermarket business for automotive parts and other associated goods throughout the forecast period.
Most of the Asia-Pacific automobile component industry's contribution comes from China. This can be linked to the country's growing industrialization and the rising need for commercial cars. One of the biggest producers of automobiles worldwide is Japan. Automobile original equipment manufacturers (OEMs) with a significant local presence include Toyota, Nissan, Mitsubishi, Honda, Daihatsu, Mazda, Fuso, Hino, Subaru, and Lexus. Over 89% of the nation's transportation machinery business is devoted to producing autos and auto parts, including braking system components.
Due to the rising demand for vehicles that perform better in bad weather, the presence of major automakers, and the development in the supply of light commercial vehicles and passenger cars, the automotive braking industry in North America is predicted to register a CAGR of 5.6% during the forecast period. Additionally, the compulsory installation of ESC technology in all light cars, effective in 2018, fueled the regional market expansion.
One of the world's centers for innovative automobile technology in Europe. Component producers deploy more advanced technology in their goods to obtain a competitive edge and boost revenue. The rising export of automobiles and related parts, including the automotive brake system, will fuel market growth for this product during the anticipated time frame. Additionally, the growing need for automotive brake systems and components from foreign automakers like Mercedes, BMW, and Audi motivates significant companies in the market to expand and improve their operating network in Europe.
The automotive braking industry aftermarket is seeing much competition as well. The aftermarket for brake systems has created attractive new opportunities for global market expansion. For instance, Ferdinand Bilstein GmbH Co. KG is a well-known global provider of aftermarket parts in more than 170 nations. Based on the diverse needs and loads of the vehicles, the company provides high-quality brake components for commercial vehicles. Some of the prominent players are Robert Bosch GmbH (Germany), ZF Friedrichshafen AG (Germany), Continental AG (Germany), Aisin Seiki Co, Ltd. (Japan), Knorr-Bremse AG (Germany), Brembo S.p.A (Italy), Haldex AB (Sweden), Mando Corporation (South Korea), and Hitachi Astemo, Ltd. (Japan).
These businesses offer a wide variety of products and have robust global distribution networks. They have used measures such as new product development, acquisition, contracts, and alliances to maintain their market position.