Automotive Brake Valve Market Overview
The Automotive Brake Valve Market Size was valued at USD 24.8 billion in 2022. The Automotive Brake Valve Market industry is projected to reach USD 41.9 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.82% during the forecast period (2023 - 2032).
An automobile is driven on various road surfaces and in extreme conditions. The integration of a functional braking system is necessary as it can ensure that vehicles can function safely. The integration of modern technology has revolutionized the market in the 21st century. Adopting a proper automotive brake valve can help avoid nose-diving, and it can help a vehicle operate without any jerk. According to the World Health Organization (WHO), around 1.3 million individuals die annually due to road traffic crashes. The instances of accidents have increased the demand for automotive brake valves at the global level.
The demand in the automotive brake valve market has been high due to the introduction of stringent vehicle and road safety rules and guidelines and the high consciousness about vehicle safety among vehicle owners. As the number of vehicles on the streets has been increasing, the global market size of automotive brake valves is expected to increase during the forecasted period. The market is expected to register a CAGR of 4.82% during the forecasted period.
A thorough evaluation of the market has been conducted to determine its growth potential during the forecasted period. Various factors that exist in the market, such as drivers, opportunities, challenges, and restraints, have been identified in the report. The key players that function in the market have been identified as they could intensify the competition in the future and influence the global market growth of automotive brake valves.
Covid 19 Analysis
The Covid 19 pandemic has negatively impacted the global automotive brake valve market performance by restricting the sales turnover. Due to the introduction of stringent government guidelines relating to lockdown, mobility among people has diminished. It is one of the negative market trends that has adversely affected the market. However, the market is expected to recover during the forecasted period and register positive market growth of automotive brake valves.
Competitive Intensity in the Industry
The competitive intensity in the global automotive brake valve market is high. One of the key factors that have intensified competition is the high focus of customers on vehicle and road safety. It has urged manufacturers of automobiles to introduce new and improved braking solutions that can offer a safe and secure driving experience to the customers. Some of the major business players that have been competing with each other to capture a larger portion of the market share have been listed below:
- Knorr-Bremse AG
- Sandoz Co. Ltd
- EBS Aftermarket Group Limited
- Eaton Corporation Plc
- Continental Automotive GmbH
- Poclain Hydraulics
- Federal-Mogul Holdings Corp.
- Alfmeier Precision SE
Recent Market Developments
- Several businesses operating in the global automotive brake valve industry have been integrating new technological elements such as Artificial Intelligence technology to enable precise control over the braking system.
- Recently, the Executive of Knorr-Bremse AG announced that the company had stopped pursuing a possible acquisition of a majority stake in HELLA KGaAHueck& Co.
Chief Variables Existing in the Market
Some of the key drivers that increase the attractiveness of the global market, which include the increasing focus of automobile producers on designing efficient and safer braking systems that are aligned with tough road and vehicle safety norms and advancement in the existing braking system such as dynamic stability control and electronic stability control.
A major challenge that exists in the global market relates to high competition. It increases uncertainty for businesses that operate in it. The introduction of new rules and guidelines relating to road and vehicle safety also acts as a major challenge that impacts the ability of businesses to adapt to the market.
- Opportunities in the global market
As there is a surge in demand for passenger cars, the market players have the opportunity to upgrade the efficiency and functionality of the existing braking solutions. Companies also need to invest in research and development activities so that new and innovative products could be launched on the market that would focus on customers' safety. During the forecasted period, businesses need to devise suitable strategies to exploit diverse market opportunities and increase their profitability.
The chief restraints in the global automotive brake valve market include the lack of technical expertise by the workforce that operates in the dynamic industry and the restricted degree of scalability. During the forecasted period, these factors could limit the ability of businesses to exploit the market opportunities.
Cumulative Evaluation of the Market
The comprehensive analysis of the market has helped to ascertain its growth potential in the future. The market is highly promising as companies and customers have been emphasizing road and vehicle safety. The report has identified and thoroughly evaluated a diverse range of global trends of automotive brake valves. The integration of new technology is one of the major trends that can bring about transformational change in the global market landscape.
Overview of the main Market Segments
The global automotive brake valve market can be segmented into metering, pressure differential, proportionate, combination, hydraulic, and others based on the product type. The demand for the metering segment is high as it helps maintain appropriate balance by supporting fluid flow control from the master cylinder. During the forecasted period, the demand for the metering segment is expected to rise.
The global market can be segmented into steel, copper, brass, and others based on the material type. The material that is used in the braking solutions impacts their functionality and performance. During the forecasted period, each material segment is likely to capture a considerable portion of the global market share and impact its future performance.
The global automotive brake valve industry can be divided into passenger cars, light commercial vehicles (LCV), and heavy commercial vehicles (HCV). In each of these categories of vehicles, the role of the automotive brake valve is to improve the vehicle's safety. The demand for the passenger car segment is expected to contribute to the automotive brake valve market growth during the forecasted period.
The automotive brake valve market can be segmented into original equipment manufacturer (OEM) and aftermarket based on sales channels. The demand for the OEM market segment is expected to dominate the global market size during the forecasted period. The high focus on innovative braking solutions by manufacturers operating in the OEM segment is expected to act as a catalyst to boost market performance.
The global automotive brake valve industry can be segmented into numerous geographical segments such as North America, Europe, the Asia Pacific, and the rest of the world. The Asia Pacific region has been dominating the market due to a high share in fleet size. During the forecasted period, the region is expected to continue to showcase solid performance, and thus it would lead to the expansion of the global automotive brake valve market size.
The global automotive brake valve market report has shed light on the market's growth potential during the forecasted period. An in-depth analysis of the market and the factors in it has been conducted in the report. Several strategic and analytical tools have been used for the market analysis purpose, such as SWOT analysis, PESTLE analysis, and Porter's Five Force analysis. The market has been evaluated at the macro and micro levels as the variables in these settings can influence its growth potential. At the micro-level, the strategic approaches that the key market players adopt have been evaluated in detail. The macro-level analysis has helped to capture the variables that impact all the businesses at the industrial level.
Key Industrial Segments
By Product Type
- Pressure Differential
By Material Type
By Vehicle Type
- Passenger Cars
- Light Commercial Vehicles (LCV)
- Heavy Commercial Vehicles (HCV)
By Sales Channel
- Original Equipment Manufacturer (OEM)
| Market Size
| 2032: USD 41.9 Billion
| 4.82% CAGR (2022-2032)
| Base Year
| Forecast Period
| Historical Data
| 2019 & 2020
| Forecast Units
| Value (USD Billion)
| Report Coverage
| Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
| Segments Covered
| by Product Type, Material Type, Vehicle Type, Sales Channel
| Geographies Covered
| North America, Europe, Asia-Pacific, and Rest of the World (RoW)
| Key Vendors
| Knorr-Bremse AG (Hungary), WABCO (Belgium), Sundoz Co., Ltd (Taiwan), EBS Aftermarket Group Limited (UK), Alfmeier precision SE (Germany), Federal-Mogul Holdings Corp. (USA), Eaton Corporation Plc (Ireland), Continental Automotive GmbH (Germany), MAHLE GmbH (Germany), and Poclain Hydraulics (France).
| Key Market Opportunities
|· The growing focus of automobile manufacturers on designing braking systems · Optimum efficiency to meet stringent road · Vehicle safety
| Key Market Drivers
|· Electronic stability control · Dynamic stability control · ABS features
Automotive Brake Valve Market Highlights:
Frequently Asked Questions (FAQ) :
The global automotive brake valve market is poised to record a market value of USD 41.9 Billion by 2032.
The global automotive brake valve market is maturing at a whopping 4.82% CAGR over the review period of 2022 to 2032.
A few significant players of the global automotive brake valve market are
The HVC segment is expected to drive market growth over the review period.
The steel segment is likely to witness the highest demand in the automotive brake valve market.
The high focus of automobile manufacturers to build efficient automotive brake systems that meet the strict vehicle and road safety norms and the advancement of new braking system technologies would act as the major drivers that would influence the automotive brake valve market growth during the forecasted period.
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