Automotive Brake System Market by type, the drum segment dominated the global automotive brake system market in 2018, in terms of revenue. In addition, by technology, the antilock braking system (ABS) segment is expected to exhibit lucrative growth rate during the forecast period. Presently, by region, Asia-Pacific is the highest revenue contributor, and is expected to garner highest revenue in the global market during the forecast period, followed by Europe, North America, and LAMEA.
The key players analyzed in this automotive brake system market report are Aisin Seiki Co., Ltd., Autoliv Inc., Continental AG, Delphi Technologies, Denso Corporation, Nissin Kogyo Co., Ltd, Robert Bosch GmbH, WABCO, ZF Friedrichshafen AG, and others.
Automotive Brake System Market Key Findings of the Study:
- By type, the drum segment is anticipated to grow at a lucrative growth rate.
- By technology, the traction control system (TCS) segment was the highest revenue contributor in 2018.
- By region, Asia-Pacific is anticipated to exhibit the highest CAGR during the forecast period of automotive brake system industry.
- By region, Asia-Pacific contributed highest market revenue in 2018, and is anticipated to maintain its lead during the automotive brake system market forecast period.
Download Report (305 Pages PDF with Insights, Charts, Tables, Figures) at https://www.alliedmarketresearch.com/request-sample/6377
The automotive brake system market was anticipated to grow significantly in this region due to continuous development in technologies and adoption of anti-lock braking system by the market. Introduction of new technologies has reduced loss of lives and rate of fatalities due to road accidents. It can record and track the performance of drivers. The addition of electronic stability control system and combined braking system is expected to pave way for automotive brakes system in North America. North America is a mature market, where almost every vehicle launched in the market is fitted with an ABS. This is due to the growth in laws and regulations concerning vehicle safety by legislations and growing public demand for safety features like ABS and ESC resulting in growth of automotive brake system. The automotive brake system market in North America is growing, as it is a mature market and due to strict regulations implemented by government for equipping ABS system in all vehicles. Anti-lock braking system for commercial vehicles have greater penetration in this region, owing to growth in number of light commercial vehicles in the region and is expected to remain the market leader in the future.
Europe is one of the major contributors in the automotive brake system market, owing to factors such as high demand for safer driving vehicles. With the regulations made by the European Union for the implementation of anti-lock braking system in vehicles, the anti-lock braking system is expected to gain prominence in Europe due to stringent government regulations in many countries of the region. Moreover, vehicle safety and driver comfort have piqued the interest of automotive manufacturers in Europe. Europe is expected to grow during the forecast period because of prevalent automotive safety protocols across the region. The European Union Parliament has voted in favor of mandatory installation of ABS for the bikes above 125cc from 2016. In addition, organizations like the IIHS and NHTSA have mandated use of ABS in the aftermarket from 2014. Further, the passenger car ABS segment is more popular in this region, owing to high population density.
Request for Customization at https://www.alliedmarketresearch.com/request-for-customization/6377
Expansion in the untapped market of developing countries like India, Indonesia, and Brazil can bring further opportunities to the players in the automotive brake system market. According to India Today Magazine, in India, over 147,913 people were killed in road accidents in 2017 alone, which made it mandatory for the Indian government to implement safety measures for vehicles. Safety systems like anti-lock braking system (ABS) and electronic stability control (ESC) are in urgent demand in these countries, owing to growing accident rate. India and Indonesia have the highest number of two wheelers in the world after China. These regions offer potential growth opportunities for market players for innovations in automotive brake system for automobiles.
Rise in demand for safety features in automobiles, technological advancements in safety features, and stringent government mandates for vehicle safety are the factors that significantly impact the market growth. However, according to the automotive brake system market analysis, high installation and maintenance costs restrain the growth of the market. In addition, development of advanced braking systems for two wheelers and expansion in untapped markets of developing countries possess remarkable growth opportunities for the global market players.
Interested to Procure the Data with Actionable Strategy & Insights? Inquire here at https://www.alliedmarketresearch.com/purchase-enquiry/6377
Asia-Pacific dominates the market, followed by Europe, North America, and LAMEA. China dominated the Asia-Pacific automotive brake system market share in 2018, and is anticipated to maintain its lead during the market forecast.
According to a recent report published by Allied Market Research, titled, ” Automotive Brake System Market by Type, Technology, Vehicle Type, and Sales Channel: Global Opportunity Analysis and Industry Forecast, 2019–2026,” the global automotive brake system market size was valued at $22.03 billion in 2018, and is projected to reach $38.48 billion by 2026, registering a CAGR of 7.5% from 2019 to 2026.
Schedule a FREE Consultation Call with Our Analysts to Find Solutions for Your Business at https://www.alliedmarketresearch.com/connect-to-analyst/6377
Brake System Market to Hit $61.20 Billion by 2027: Allied Market Research – GlobeNewsWire.com
Automotive Brake System Market worth $38.48 Bn, Globally, by 2026 at 7.5?GR: Allied Market Research – PRNewsWire.com
Brake System Market in North America to Rise at 5.7?GR During 2021-2027: Allied Market Research – EINNews.com
Brake System Market to Reach $61.20 Bn, Globally, by 2027 at 7.0?GR: Allied Market Research – PRNewsWire.com
Aircraft Brake System Market to Garner $16.95 Billion in 2030: Allied Market Research – AviationPros.com
Similar Reports We Have on Autmotive Brake Industry:
Air Brake System Market by Type (Air Disc and Air Drum), Component (Compressor, Governor, Tank, Air Dryer, Foot Valve, Brake Chamber, and Slack Adjuster), Rolling Stock Type (Diesel Locomotive, DMU, EMU, Metros, Passenger Coaches, and Freight Wagon), and Vehicle Type (Truck and Bus) – Global Opportunity Analysis and Industry Forecast 2019–2030.
Brake System Market by Product Type (Disc Brake, Drum Brake, Hydrostatic Brake, Hydraulic Wet Brake, and Regenerative & Dynamic Braking), Distribution Channel (Original Equipment Manufacturers (OEMs) and Aftermarket) and End Use (Automotive,Construction Equipment,Agricultural Equipment, Industrial Trucks, and Mining Equipment): Global Opportunity Analysis and Industry Forecast, 2020–2030.
Disc Brake System Market by Brake Type (Disc Brake and Drum Brake), Vehicle Type (Passenger Cars, Light Commercial Vehicles and Heavy Commercial Vehicles), Technology (Anti-lock Braking System (ABS), Electronic Stability, Traction Control System and Electronic Brake Force Distribution) and Application (Agriculture Tractor and Construction Equipment): Global Opportunity Analysis and Industry Forecast, 2021–2030.
Modular Brake System Market by Order (Hydraulic Brake Systems and Disc Brake Systems), and Application (Passenger Vehicle, Light Commercial Vehicle and Heavy Commercial Vehicle): Global Opportunity Analysis and Industry Forecast, 2021–2030.
Aircraft Brake System Market by Type (Line-fit and Retrofit), Application (Braking Systems, Wheels, and Brakes), and End Users (Commercial and Military): Global Opportunity Analysis and Industry Forecast, 2020–2030.
Automotive Brake Pad Market by Material Type (Semi-Metallic, Non-Asbestos Organic (NAO), Low-Metallic and Ceramic), Position Type (Front and Front & Rear), Sales Channel (Original Equipment Manufacturer (OEM) and After-market), and Vehicle Type (Passenger Vehicles, Light Commercial Vehicles and Heavy Commercial Vehicles): Global Opportunity Analysis and Industry Forecast, 2020–2030.
Motorcycle ADAS Market by Product Type (Stability Control System, Adaptive Cruise Control (ACC), Gear Shift Assist, Traction Control System (TCS), Anti-Lock Braking System (ABS), and Others), System Type (Lead Acid, and Lithium-ion), and Sales Channel (Original Equipment Manufacturers (OEM), and Aftermarket): Global Opportunity Analysis and Industry Forecast, 2020–2030.
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.