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(Transportation-News.com, October 05, 2018 ) The global automotive brake systems market generated $20.8 billion in 2017 and is anticipated to grow at a CAGR of 6.2% during the forecast period.
Automotive brake system is used for slowing down and halting the motion of vehicle. Automotive brake system converts the kinetic energy of the vehicle into heat energy through friction. The different types of brake systems used in automobiles include mechanical brakes, hydraulic bakes, and air brakes. Automobiles are equipped with two brakes, the foot brake and the hand brake. The foot brake is used for controlling the speed of the vehicle by application of force on the brake pedal, whereas the hand brake is used to stop the movement of the vehicle when parked through a lever.
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The demand for automotive brake systems has increased owing to increasing need for road safety, and growing demand for vehicles from emerging economies. The growing need for improved road safety, and modernization of vehicles increases the demand for automotive brake systems. The introduction of stringent government regulations regarding road safety, and vehicle efficiency further increases the automotive brake systems market. Rising demand for luxury vehicles, increasing development of autonomous vehicles, growing demand from emerging economies, and technological advancements are factors expected to provide numerous growth opportunities for automotive brake systems market in the coming years.
The report provides an extensive qualitative and quantitative analysis of the market trends and growth prospects of the Global Automotive Brake systems Market, 2017-2026. This report comprises a detailed geographic distribution of the market across North America, Europe, Asia-Pacific, Latin America, and MEA. North America is further segmented into U.S., Canada, and Mexico. Europe is divided into Germany, UK, Italy, France, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific.
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Asia-Pacific generated the highest revenue in the market in 2017 owing to increasing disposable income and improved living standards in the region. The increasing modernization of vehicles, development of autonomous vehicles, and strict government regulations have resulted in increasing adoption of automotive brake systems in the region.
Competitive Landscape and Key Vendors
The global automotive brake systems market is characterized by the presence of well-diversified international and small and medium-sized vendors. These companies are consistently launching new products to enhance their offerings in the market. With the advancement of technologies, companies are innovating and introducing new customized products to cater the growing needs of the customers. Leading companies are also acquiring other companies, and enhancing their product offerings to improve their market reach. Acquisitions enable key players to increase their market potential in terms of geographic expansion and expansion of customer base.
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The leading companies profiled in the report include ZF Friedrichshafen AG, Wabco Holdings Inc, Continental AG, Delphi Automotive PLC, Robert Bosch GmbH, Hitachi Automotive Systems, Ltd., Aisin Seiki Co., Ltd., Knorr-Bremse AG, Akebono Brake Industry Co., Ltd., and Autoliv, Inc.
Key Segments
Type
• Disc Brake Systems
• Drum Brake Systems
Vehicle Types
• Passenger Cars
• Light Commercial Vehicles
• Heavy Commercial Vehicles
Sales Channel
• OEM
• Aftermarket
Technology
• Antilock Braking System
• Traction Control System
• Electronic Stability Control
• Electronic Brake-Force Distribution
Region
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o UK
o France
o Italy
o Rest of Europe
• Asia-Pacific
o China
o India
o Japan
o Rest of Asia-Pacific
• Latin America
o Brazil
o Rest of Latin America
• Middle East and Africa
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