Automotive Braking System Market Research Report—Global Forecast till 2030

Automotive Braking System Market Research Report Information By Brake Type (Disc Brake, Drum Brake) Brake System (ABS, TCS, ESC, Others) Components (Master Cylinder, Calipers, Brake Pad, Disc, Vacuum Servo Brake, Drum Brake, Others) Vehicle Type (Passenger Vehicle, Light Commercial Vehicle, Heavy Commercial Vehicle) Forecast 2030

ID: MRFR/AM/2822-CR | August 2022 | Region: Global | 154 Pages         

Automotive Braking System Market

Automotive Braking System Market size to reach a value of USD 44,514.6 million at a 5.5% CAGR from 2022 to 2030

Segmentation

By Brake Type Disc Brake Drum Brake
By Brake System ABS ESC TCS Others
By Component Master Cylinder Brake Pad Calipers Disc Vacuum Servo Brake Brake Drums Others
By Vehicle Type PCV LCV HCV

Key Players

  • Robert Bosch GmbH
  • Continental AG
  • Mando Corp.
  • ZF Friedrichshafen AG
  • Delphi Technologies
  • Valeo

Drivers

  • Increase in safety features
  • Especially in mid-level vehicles
  • Rising Demand for Safety Features in Automobiles
  • Technological Advancements in Safety Features
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The automotive braking system market size is projected to be worth USD 44,514.6 million by 2030, registering a CAGR of 5.5% during the forecast period (20222030).


Global Automotive Braking System Market Overview


The automotive braking system is a mechanism that inhibits motion. It is one of the most important control systems of a vehicle. It is a combination of interactive parts. The braking system absorbs energy from the moving parts and slows down the vehicle with the help of friction.



  • October 2022- BYD has announced its plans to launch three new battery-electric passenger vehicles in the European region at the Paris Motor Show, including a C-segment SUV, BYD ATTO 3, built with the European customer in mind: the sporty sedan BYD HAN and a 7-seater with variable all-wheel drive, the BYD TANG. The BYD ATTO 3 was awarded a five-star safety rating by Euro NCAP, Europe's prominent autonomous safety assessment program. The BYD ATTO 3 was evaluated by Euro NCAP engineers in four groups: protection for vulnerable road users, safety assistance; child occupant protection; and adult occupant protection. For adult occupant protection, the BYD ATTO 3 scored 91%, with Euro NCAP praising how the passenger compartment stayed steady in the frontal offset test. In the child occupant protection tests, the BYD ATTO 3 got 89%, lowering impact to all vital body areas for the ten and six-year-old representative dummies. BYD ATTO 3 safety assist systems scored 74%, with Euro NCAP emphasizing the performance of the camera-based Intelligent Speed Limit Assist and Lane Keeping Assist systems. The vehicle's autonomous emergency braking system (AEB) took part in a susceptible road user score of 69%, with testers mentioning the system's identification of cyclists and pedestrians.


COVID-19 Impact on the Global Automotive Braking System Market:


Amidst the COVID-19 outbreak, investors and manufacturers are pulling back the production and reconsidering investments. This is expected to act as a key headwind for the growth of the global automotive market. The halt in production of vehicles has affected the demand for braking systems globally. The pandemic is expected to have a negative impact on the global braking systems market in the short-term (2020–2021). However, the long-term growth of the automotive braking system market is expected to remain positive.



  • October 2022- Like all the market areas, the automobile sector also faced significant losses during the pandemic. In a recent report release, BMW disclosed the actual numbers in terms of losses. On the other hand, with the growing demand for automobiles across the globe, the company has disclosed its first high-performance car with an electrified drive system. The latest vehicle is a plug-in hybrid system consisting of a V8 combustion engine and what BMW claims to be a mighty electric motor.



  • October 2022- Sensata Technologies has revealed its new Brake Pedal Force Sensor for electromechanical brakes (EMBs), allowing better and safer braking systems. Automotive electrification and autonomy empower the trend toward electromechanical brakes in next-generation vehicles, particularly in hybrid and electric vehicles (EVs).


Automotive Braking System Market Dynamics


Drivers


  • Road accident deaths

  • Growing automotive aftermarket


Considering the focus on increasing the lifespan of vehicles, the automotive component manufacturers such as Robert Bosch GmbH, ZF Friedrichshafen AG, and Delphi Technologies have been expanding their aftermarket activities to capitalize on the high demand of automotive braking system components. The increase in average vehicle age has created opportunities for automotive braking system manufacturers to venture into the aftermarket business, especially for the old vehicles to meet the industry standards pertaining to vehicle safety. The loyalty toward authorized repair shops is the highest among new-vehicle owners and customers owing to strict regulations of mandatory installation of the automotive braking system in new and used vehicles. Reliability, quality, and warranty are a few of the factors that encourage many vehicle owners to opt for authorized repair shops for the replacement of automotive braking system components. This will boost the automotive aftermarket services, making the impact of the growing automotive aftermarket on the global automotive braking system market, shift from moderate to high over the forecast period.


Restraints


  • Brake failure rate


The braking system is one of the most important subsystems in an automobile. The safe operation of a vehicle is very much determined by brakes. But as the technology progresses automotive components show technical failures due to improper maintenance. Deficiencies in the braking system are things such as oil-contaminated brakes, misaligned brakes, misaligned brake linings, and sticking brake calipers. Vehicles with braking deficiencies, in most cases still can stop, but will also require long distances. A vehicle with a partial failure or a braking deficiency may develop sufficient braking under normal stopping situations. More effective measures are required to be taken to eliminate this and solve most of the braking problems.


Opportunities


  • Rising demand for lightweight products


The automotive braking system is comprised of the main components such as a brake pad, brake disc, brake plate, and brake drum. Automotive braking system manufacturers are focusing on high-end engineering and designing to develop next-generation automotive brake components for vehicles. Materials such as rubber, glass, non-asbestos, copper, and cenosphere–aluminum composite are used for manufacturing braking system components to meet the demand for lightweight materials in the automotive braking system. For instance, the lower density of cenosphere particles than the conventional grey cast irons lead to the reduced weight of the braking system by up to 20%.


Furthermore, vehicle electrification leading to the use of advanced automotive braking systems and government policies to curb vehicle safety encourage the manufacturers to develop lightweight automotive parts and components. Therefore, the rising demand for lightweight products with advanced materials is expected to create an opportunity for the global automotive braking system market players.


Automotive Braking System Market Supply Chain Analysis


In the design and development stage, the dimensions, technology, working conditions, vehicle type, and applications are analyzed to design and develop the automotive braking system, effectively. In the design stage, the overall design, components, material type, size, and shape of the automotive braking system are determined according to the application of the product, design standards, and the specific vehicle requirements.


In this stage, the automotive braking system manufacturers procure the necessary raw materials from the suppliers. The various raw materials required for manufacturing automotive braking system are ceramic, copper, steel, rubber, plastic, and others. The raw materials are selected based on the friction resistance, corrosion resistance, and strength of the material, and end-use application of the automotive braking system.


In this stage, the automotive braking system manufacturers procure the necessary raw materials from the suppliers. The various raw materials required for manufacturing automotive braking system are ceramic, copper, steel, rubber, plastic, and others. The raw materials are selected based on the friction resistance, corrosion resistance, and strength of the material, and end-use application of the automotive braking system.


After the manufacturing process is completed, the finished products are sent to various distributors and suppliers, such as independent dealers, company dealers, and retailers who work as a channel to provide the final automotive braking system to the various industries and individuals. The end users of the automotive braking system are the automotive OEMs and aftermarket buyers. The automotive OEM companies generally purchase the automotive braking system in bulk directly from the manufacturers.


Automotive Braking System Market Segmentation


Automotive Braking System Market Based on brake type:


Disc brake and drum brake are the segments based on brake type of the Global Automotive Braking System Market. The market is dominated by the disc brake market and is expected to continue the same during the forecast period.


Automotive Braking System Market Based on brake system:


ABS, TCS, ESC, and others are the segments based on the brake systems of the Global Automotive Braking System Market. During the forecast period, the automotive braking system market is led by the ABD system. Anti-lock braking systems (ABS) are safety anti-skid braking systems that are used in aircraft. It is also used in cars, motorcycles, and buses. ABS functions by preventing the wheels from locking up while braking, through keeping a tractive connection with the road surface. It significantly increases braking distance and improves steering control.


Automotive Braking System Market Based on components:


Master cylinder, brake pad, disc, calipers, vacuum servo brake, brake drum, and others are the segments based on components of the Global Automotive Braking System Market. The master cylinder market is anticipated to dominate the Automotive Braking System market during the forecast period. The master cylinder is a plunger that is activated by the brake pedal. It is what holds the brake fluid and forces it through the brake lines when activated. It is placed far from the braking system and uses tubes to push hydraulic fluids towards the caliper.


Automotive Braking System Market Based on vehicle type:


Passenger vehicles, light commercial vehicles, and heavy commercial vehicles are the segments based on vehicle type of the Global Automotive Braking System Market. The Automotive Braking System market is dominated by the passenger vehicle segment. Passenger carrying vehicles (PCVs) are used to carry passengers rather than goods. There is an increase in the demand for PCVs, owing to the increase in population, high purchasing power, and favorable regulations.



  • October 2022- Safety is a vital aspect of Mercedes-Benz's DNA and one of the primary responsibilities the company has accepted– towards all road users. The importance of the brand with the star is to protect against accidents and the results of accidents. The firm is utilizing two anniversaries in passive and active safety as an opportunity to present its latest safety features.


Automotive Braking System Market Regional Analysis


The regions are classified as North America, Europe, Asia-Pacific, Middle East & Africa and South America. The growing auto component manufacturing including automotive braking system, especially in China, Japan, and India will primarily drive the automotive sector in the region. The increasing population, along with low labor charge is attracting automotive industry players to set up production facilities in the region. In addition, the proliferating aftermarket industry of automotive components and other related products will positively drive the automotive braking system market during the projected timeframe. China has a majority of the contribution to the automotive component industry in Asia-Pacific. This can be attributed to the increasing requirement for commercial vehicles, owing to the rapid industrialization in the country. Japan is one of the largest vehicle manufacturing countries across the globe. Automotive OEMs, including Toyota, Nissan, Mitsubishi, Honda, Daihatsu, Mazda, Fuso, Hino, Subaru, and Lexus, have a strong presence in the country. The manufacturing of automobiles and auto components, including braking system components, accounts for over 89% share of the country’s transportation machinery industry.


The second largest market is expected to be in Europe. Europe comprises Germany, France, the UK, and Italy. Europe is one of the advanced automotive hubs across the globe. Component manufacturers use improved technology in their products to gain a competitive edge and increase their revenue generation. The high export of automobiles and related components, including the automotive braking system will drive the automotive braking system market growth during the forecast period. Moreover, the increasing demand for the automotive braking systems and components from international automotive manufacturers, including Mercedes, BMW, and Audi, encourages global industry players that improve and developed their operation network in Europe. Germany is one of the pioneers for engineering in the automotive industry.



  • October 2022- Bethel Automotive Safety Systems Co., Ltd., a Chinese automotive supplier, has announced an agreement with the management committee of Taizhou Bay New Area to introduce an automotive chassis Wire-Controlled Brake System (WCBS) project in Taizhou city, Zhejiang province.


Automotive Braking System Market Competitive Landscape


The global automotive braking system market is characterized by the presence of many local, regional, and global vendors. The Automotive Braking System Market is highly competitive, with all the players continually competing to gain a larger market share. High competition, rapid advances in technology, frequent changes in government policies, and stringent environmental regulations are some of the critical factors that could restrain market growth. The vendors compete in terms of cost, product quality, reliability, and aftermarket services. Vendors must provide cost-effective and efficient products to survive and succeed in a competitive market environment.


List of Key Companies covered in the Automotive Braking System Market report:



  • Robert Bosch GmbH (Germany)

  • Continental AG (Germany)

  • ZF Friedrichshafen AG (Germany)

  • Delphi Technologies (UK)

  • Mando Corp. (South Korea)

  • Valeo (France)

  • Akebono Brake Industry Co., Ltd (Japan)

  • Knorr-Bremse AG (Germany)

  • AISIN SEIKI Co., Ltd. (Japan)

  • VULKAN Group (Germany)


Recent Developments:



  • In May 2020, ZF Friedrichshafen AG acquired WABCO (Switzerland), a commercial vehicle technology supplier. The acquisition has helped the company expand its commercial vehicle service portfolio and on operating customer business in Switzerland.

  • In March 2020, Delphi Technologies launched brake pads for the new Land Rover Defender 110. This has helped the company achieve improvement in the supply of quality aftermarket brake pads.

  • In October 2019, WABCO, a subsidiary of ZF Friedrichshafen AG, launched the Intelligent Anti-Lock Braking System (iABS) for the commercial trailers in North America. This has helped enhance trailer system functionality and supports the strategies of trailer manufacturers in North America.

  • In September 2018, Mando Corp. launched a new electronic brake system (EBS) called MGH-100, which enhances driving safety by reducing skidding while braking.

  • In September 2018, Knorr-Bremse AG launched a new disc brake for trailers and light commercial vehicles. This has helped the company expand its product portfolio in the global market.


Automotive Braking System Market Report Overview:


The Global Automotive Braking System Market is segmented based on brake type, brake system, components, vehicle type in this report. The automotive braking system market report is focused on various analytical aspects such as market dynamics, Supply chain analysis, Porter’s five forces, competitive landscape, recent developments and company profiles. The insights in this report, comprise, discuss views and predict the emerging and fast-growing segments, regions, and countries with potential of development in the Global Automotive Braking System Market.


Automotive Braking System Market Segmentation Overview:


By brake type:



  • Disc brake

  • Drum brake


By brake system:



  • ABS

  • TCS

  • ESC

  • Others


By components:



  • Master cylinder

  • Calipers

  • Brake pad

  • Disc

  • Vacuum servo brake

  • Drum brake

  • Others


By vehicle type:



  • Passenger vehicle

  • Light commercial vehicle

  • Heavy commercial vehicle


By Regions:



  • North America

  • Europe

  • Asia-Pacific

  • Middle East & Africa

  • South America


Objectives of the Study



  • To get a comprehensive overview of the Global Automotive Braking System Market.

  • To get wide-ranging information about the key factors driving the automotive braking system market and market opportunities

  • To gain information regarding the key players in the industry, technology advancements and key developments

  • To gain insights about the key country/region in which the automotive braking system market is growing


Intended Audience



  • Automobile Companies

  • Manufacturing Companies

  • Research Institutes

  • Academic Institutes

  • Government Organizations



Report Scope:

Report Attribute/Metric Details
  Market Size    2030: USD 44,514.6 Million
  CAGR    ~5.5%
  Base Year    2021
  Forecast Period   2022 to 2030
  Historical Data    2019 & 2020
  Forecast Units    Value (USD Million)
  Report Coverage    Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Brake Type, Components, Brake System and Vehicle Type
  Geographies Covered   North America, Europe, Asia-Pacific, Middle East & Africa and South America
  Key Vendors   Robert Bosch GmbH (Germany), Continental AG (Germany), ZF Friedrichshafen AG (Germany), Delphi Technologies (UK), Mando Corp. (South Korea), Valeo (France), Akebono Brake Industry Co., Ltd (Japan), Knorr-Bremse AG (Germany), AISIN SEIKI Co., Ltd. (Japan), VULKAN Group (Germany)
  Key Market Opportunities   Rising demand for lightweight products
  Key Market Drivers   Road accident deaths Growing automotive aftermarket


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Frequently Asked Questions (FAQ) :

The Global Automotive Braking System Market would register a growth of ~5.5% during the forecast period.

Robert Bosch GmbH (Germany), Continental AG (Germany), ZF Friedrichshafen AG (Germany), Delphi Technologies (UK), Mando Corp. (South Korea), Valeo (France), Akebono Brake Industry Co., Ltd (Japan), Knorr-Bremse AG (Germany), AISIN SEIKI Co., Ltd. (Japan), VULKAN Group (Germany)

The brake failure rate is a key restraining factor for the Global Automotive Braking System Market

Asia-Pacific would enjoy the upper hand in the Global Automotive Braking System Market