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(Transportation-News.com, March 14, 2018 ) Publisher projects that the Brake Systems market size will grow from USD 21.99 Billion in 2017 to USD 32.94 Billion by 2023, at an estimated CAGR of 6.96%. The base year considered for the study is 2017, and the market size is projected from 2018 to 2023.
The key driver of this market is increasing vehicle production, whereas factors such as regulations on reducing stopping distances, safety rating certifications, New Car Assessment Program (NCAP), and mandates on implementation of electronic brake systems are driving the demand for disc brakes and associated electronic brake systems.
By Market Players:
Robert Bosch GmbH , ZF Friedrichshafen AG , Aisin Seiki Co., Ltd. , Continental AG , Mando Corp. , Autoliv Inc. , Akebono Brake Industry Co Ltd , Federal-Mogul Holdings Corp , Wabco Holdings Inc , Brembo S.P.A , Hitachi Automotive Systems, Ltd. , Nissin Kogyo Co., Ltd. , Knorr Bremse AG , Haldex AB , Delphi Automotive PLC.
By Product Type:
Disc, Drum.
By Application:
Agricultural Tractor, Construction Equipment.
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