Automotive Brake System Market

Global Automotive Brake System Market Research Report: By Type (Disc and Drum), By Technology (Antilock Braking System (ABS), Traction Control System (TCS), Electronic Stability Control (ESC), and Electronic Brake Force Distribution (EBD)), By Vehicle Type (Passenger ICEx Vehicle, Commercial ICE Vehicle, and Electric Vehicle), By Sales Channel (OEM and Aftermarket), and Region (North America, Europe, Asia-Pacific, and Rest of the World) Global Industry Analysis, Size, Share, Growth, Trends, Regional Analysis, Competitor Analysis and Forecast 2024-2032.

Automobile & Transportation | January 2024 | Report ID: EMR00381 | Pages: 301

The global automotive brake system market was valued at USD 48.56 billion in 2023 and is estimated to reach approximately USD 83.85 billion by 2032, at a CAGR of 6.2% from 2024 to 2032.

 

Since its establishment, the market for vehicle brake systems has seen a revolutionary change. The environment of this business has evolved significantly since the late 19th century, when manually controlled systems were common. Fred Duesenberg made a significant advancement in safety and efficiency when he invented hydraulic brakes at the beginning of the 20th century. Progressive inventions that revolutionized car safety over time included the anti-lock braking systems (ABS) developed by Bosch in the 1970s.

In response to consumer requests for safer, more responsive automobiles, the industry has continued to grow with the introduction of electronic brake systems, regenerative braking, and autonomous emergency braking. Regenerative braking systems are being included into electric and hybrid vehicles as part of emerging trends that emphasize environmental solutions. In addition, technical developments such as predictive braking algorithms and brake-by-wire systems demonstrate the industry's continuous dedication to safety and innovation. The development of automotive braking systems from simple manual systems to complex, technologically-driven solutions highlights the industry's continuous progress, with modern cars placing a premium on sustainability, efficiency, and safety.

 

 

AUTOMOTIVE BRAKE SYSTEMS MARKET: REPORT SCOPE & SEGMENTATION

Report Attribute

Details

Estimated Market Value (2023)

48.56 Bn

Projected Market Value (2032)

83.85 Bn

Base Year

2023

Forecast Years

2024 - 2032

Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- By Type, By Technology, By Vehicle Type, By Sales Channel, & Region

Segments Covered

By Type, By Technology, By Vehicle Type, By Sales Channel, & Region

Forecast Units

Value (USD Billion or Million), and Volume (Units)

Quantitative Units

Revenue in USD million/billion and CAGR from 2024 to 2032

Regions Covered

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and the Rest of World

Countries Covered

U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others

Report Coverage

Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.

Delivery Format

Delivered as an attached PDF and Excel through email, according to the purchase option.

 

Global Automotive Brake System Market Dynamics

Safety is still the top priority, which is driving the need for more sophisticated braking systems. Globally enforced government laws that set strict requirements for car safety have a constant impact on market dynamics. Manufacturers invest in R&D for novel brake systems because of the importance of consumer awareness and desires for improved safety features, comfort, and vehicle performance.

The market is changing as a result of the move toward electric and hybrid cars, which is encouraging the incorporation of regenerative braking systems to increase energy efficiency. Furthermore, the industry is being driven to develop intelligent braking solutions by the need for highly responsive and sophisticated brake systems brought about by growing mobility trends such as driverless vehicles. Industry alliances, partnerships, and mergers support innovation in technology and increase market share. Cost factors also have a big impact on market dynamics and how different brake system technologies are adopted, especially in emerging economies. All things considered, the automotive braking system market is a dynamic combination of consumer preferences, market competitiveness, safety requirements, technology advancements, and regulatory frameworks that interact to drive industry growth and transformation.

 

Global Automotive Brake System Drivers

  • Increasing Consumer Demand for Advanced Safety Features

Customers are placing a higher priority on cars with cutting-edge safety features as they become more concerned about safety. In this situation, brake systems are essential because they are the main safety feature. Autonomous emergency braking (AEB), electronic stability control (ESC), collision avoidance systems, and anti-lock braking systems (ABS) are now important features that affect buying decisions. Reliable brake systems that improve vehicle control and reduce road hazards are what consumers look for when they're looking for assurance. Increased awareness of traffic safety and laws requiring the installation of specific safety systems in cars both contribute to this need. To meet these demands, automakers and suppliers of brake systems are always coming up with new and advanced braking technologies that provide better performance, reduced stopping distances, and increased vehicle stability. The market is driven by the convergence of consumer preferences and technological advancements in brake systems, making safety features mandatory rather than optional. This creates a competitive environment that keeps brake technology innovation at the forefront of the automotive industry.

  • Technological Advancements

Brake system capabilities have been transformed by the ongoing development of materials, sensors, computational power, and connection. These developments make it easier to create brake systems that are more effective, responsive, and intelligent. Advances in sensor technology allow for sophisticated control of braking systems by precisely monitoring several parameters such as wheel speed, pressure, and vehicle dynamics. Furthermore, the use of machine learning and artificial intelligence algorithms improves the predictive capabilities of brake systems, allowing for proactive reactions to evolving road conditions. Furthermore, improvements in materials science help to create brake components that are lighter, stronger, and resistant to heat, all of which improve performance and lifespan. Furthermore, by facilitating data interchange for predictive brake responses, the convergence of braking systems with vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) communication technologies enhances safety and efficiency. The unrelenting quest of technical innovation, as demonstrated by regenerative braking systems that absorb and transform kinetic energy into useful electrical energy, not only improves safety but also addresses environmental issues.

 

Restraints:

  • Higher Manufacturing and Implementation Costs

The car industry is significantly hampered by higher implementation and production costs, especially when it comes to brake systems. The incorporation of sophisticated technologies, such artificial intelligence algorithms, precise sensors, and specialty materials needed for contemporary brake systems, drives up manufacturing costs dramatically. These expenses are additionally increased by investments in research and development to guarantee adherence to strict safety requirements and laws. Furthermore, the cost of implementing these cutting-edge brake systems is increased when old cars are modified or redesigned to fit them. These rising expenses are problematic, particularly in regions where consumers are price-conscious and still have a strong need for reasonably priced cars. Manufacturers must strike a balance between offering low prices and adding state-of-the-art safety features. High prices are also a result of the intricacy of manufacturing procedures and the requirement for specialized knowledge. Therefore, these increased costs associated with production and deployment may prevent advanced brake systems from being widely adopted and accessible. To counteract this limitation and increase the accessibility of these vital safety features in the automotive industry, creative and economical solutions will be needed.

  • Complexity in Integration

Complex issues arise when modern brake systems are incorporated into existing vehicle architectures as cars evolve with new technologies. For these sophisticated systems to be successfully integrated, the integration process frequently necessitates painstaking engineering modifications, possible redesigns, or adaptations. There may be incompatibilities between different car parts and the brake system itself. These require extensive testing and certification, which adds to the cost and delays development. Furthermore, as automobiles become more electronically controlled and networked, complicated braking systems are incorporated into this network, adding to its complexity. The task of integrating these technologies is made more difficult by the need to balance their performance needs with those of the vehicle's current functionalities. Another layer of complication is added by the requirement for professionals to have certain knowledge and training to perform installation and maintenance. All things considered, this integration complexity raises costs and lengthens development cycles, which presents a major obstacle for manufacturers trying to seamlessly integrate new brake systems into contemporary automobiles.

 

Opportunities:

  • Electric and Hybrid Vehicle Integration

Specialized brake solutions are necessary for these alternative propulsion systems, providing a rare opportunity for innovation and uniqueness. One important component of electric and hybrid cars is regenerative braking, which allows kinetic energy to be converted into electrical energy while braking, increasing performance and range. Manufacturers of brake systems have the opportunity to develop and advance regenerative braking technologies, enhancing their dependability and performance in these changing vehicle platforms.

Brake systems that can work flawlessly with these propulsion systems are becoming more and more necessary as the demand for electric and hybrid vehicles rises. This creates opportunities for manufacturers of brake systems to create customized products that address the unique features of electric and hybrid cars, like quick energy recovery, long brake life, and adaptive braking control. Manufacturers can meet the demand for more efficient braking and position themselves at the forefront of a growing market segment by matching brake system advancements with the specific needs of electric and hybrid vehicles. This will drive innovation and shape the future of automotive braking technology.

  • Autonomous and Connected Vehicles

The market for automotive brake systems has a revolutionary opportunity in the form of autonomous and connected vehicles. High-tech cars like this require extremely complex and clever braking systems to guarantee improved performance and safety. Brake systems must be developed to meet the needs of autonomous vehicles by offering prompt and accurate reactions, matching the vehicle's sophisticated sensor and AI-powered decision-making capabilities. Furthermore, the incorporation of connection elements facilitates communication between the brake systems and other parts of the vehicle as well as external data sources. This allows predictive braking algorithms to anticipate and adjust to changing driving circumstances instantly.

The opportunity to develop in areas like improved sensors, smart control systems, and brake-by-wire technology allows braking system manufacturers to customize solutions for the unique requirements of connected and autonomous vehicles. Manufacturers may establish themselves as key collaborators in defining the efficiency and safety requirements of tomorrow's transportation by creating dependable, high-performance brake systems that fit into these futuristic vehicle architectures with ease.

 

Segment Overview

By Type

Based on type, the global automotive brake system market is divided into disc and drum. The disc category dominates the market with the largest revenue share in 2023. A rotor (disc), caliper, brake pads, and hydraulic parts make up a disc brake. The rotor and wheel are attached, and the rotor spins together. The brake pads are forced against the rotor's surface when the brake pedal is depressed, creating friction that slows down the car. Better heat dissipation is a feature of disc brakes, which means they brake consistently even in high-stress situations. They have a reputation for having effective stopping power, cooling down more quickly, and generally having less brake fade incidents, which are caused by overheating.

The components of a drum brake system include braking shoes, a housing shaped like a drum, a wheel cylinder, springs, and additional hardware. Hydraulic pressure pushes the brake shoes up against the drum's inner surface when the brake pedal is depressed, slowing down the car. Drum brakes are generally less complicated to make and assemble, which lowers their manufacturing costs. They are frequently seen in parking brake systems and rear-wheel applications.

 

By Technology

Based on the technology, the global automotive brake system market is categorized into antilock braking system (ABS), traction control system (TCS), electronic stability control (ESC), and electronic brake force distribution (EBD). The electronic stability control (ESC) category leads the global automotive brake system market with the largest revenue share in 2023. ESC aids in preserving the stability and control of the car, particularly when braking or cornering suddenly. It continuously tracks the movement of the vehicle and corrects oversteer or understeer by braking specific wheels or changing engine torque, so averting loss of control and possible rollover incidents. TCS controls the power delivered to the wheels in order to prevent wheel slippage or loss of traction during acceleration.

By decreasing engine power or applying brakes to the spinning wheel, it controls wheel spin and enhances traction on terrain with uneven grip levels, including snowy or rainy roadways. With the help of ABS, a safety function that keeps wheels from locking up when braking, the driver may continue to control the steering even when applying strong brakes or driving on slick surfaces. It works by varying the amount of brake pressure applied to specific wheels, allowing them to continue turning even when braking, which helps to minimize skidding and improves overall vehicle stability. Based on a number of variables, including vehicle load, road conditions, and braking dynamics, EBD optimizes the distribution of brake force among the wheels. It makes sure that every wheel has equal braking power, which improves stability and reduces stopping distances, particularly in emergency situations.

 

By Vehicle Type

Based on vehicle type, the global automotive brake system market is segmented into passenger ICEx vehicles, commercial ICE vehicles, and electric vehicles. The passenger ICEx vehicles segment dominates the automotive brake system market. Gasoline or diesel-powered internal combustion engine (ICE) passenger cars have historically accounted for a significant share of the market. These cars' brake systems are always improving in terms of efficiency, performance, and safety. Modern cars come equipped with disc braking systems, ABS, and ESC, among other advanced technologies that provide better stability and stopping force for a range of car sizes and road conditions. trucks, buses, and vans are examples of commercial vehicles with unique brake system requirements because of their higher weights and frequent stop-and-go traffic. These cars frequently have strong braking systems that can sustain higher loads and provide steady performance over long stretches of time.

The integration of advanced brake technologies, like EBD and TCS, guarantees the best possible braking performance under a range of cargo weights and road conditions. The introduction of electric vehicles has caused a radical change in the architecture of brake systems. Regenerative braking systems are used by electric cars (EVs), such as battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs), to capture and transform kinetic energy into electrical energy, increasing range and efficiency. In order to minimize wear and maximize energy efficiency, brake systems in electric vehicles (EVs) frequently work in tandem with regenerative braking. This blends classic friction-based braking with energy recuperation.

 

By Sales Channel

Based on sales channels, the global automotive brake system market is divided into OEM and aftermarket. The aftermarket category dominates the market with the largest revenue share in 2023. Brake system parts, systems, and components that are supplied and installed independently of OEM assembly are included in the aftermarket market. Aftermarket brake systems serve owners of automobiles looking to upgrade, replace, or improve the performance of their current vehicles. Aftermarket brake components may be chosen by consumers for a variety of reasons, including the necessity to replace worn-out or broken OEM parts, brand preferences, performance enhancements, and customization choices. Brake systems installed by manufacturers at the time of initial vehicle assembly are included in the OEM section. Before cars are put up for sale, these braking systems are installed in them. Vehicle manufacturers choose and develop original equipment (OEM) brake systems to satisfy strict safety, performance, and legal requirements. In order to provide customized solutions that enhance the overall appearance and desired performance characteristics of the vehicle, automakers frequently work with suppliers of brake systems.

 

Global Automotive Brake System Overview by Region

The global automotive brake system market is categorized into North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific emerged as the leading region, capturing the largest market share in 2023. The need for brake systems has been driven by the region's sizable automobile manufacturing base, especially in nations like China, Japan, South Korea, and India. This expansion has been supported by a rising middle-class population, fast urbanization, and rising vehicle ownership. Stricter safety laws and the incorporation of cutting-edge braking systems in cars have also boosted the market. Asia-Pacific is leading the way in the growth of the automotive braking system market because of its manufacturing capability, rising vehicle demand, and attention to safety.

 

 

The automotive braking system market in North America is expected to grow at a high Compound Annual Growth Rate (CAGR) over the forecast period. The need for sophisticated braking technologies, such as autonomous emergency braking systems (ESC), ABS, and other braking systems, is driven by the region's ongoing focus on car safety standards and regulations. Second, the growing popularity of hybrid and electric cars in North America is driving the development of specialist brake systems for these environmentally friendly automobiles. The strong automotive aftermarket sector in the area, where buyers look for enhanced or replacement braking systems for their current cars, also plays a role in the increase that is predicted.

 

Global Automotive Brake System Competitive Landscape

In the global automotive brake system market, a few major players exert significant market dominance and have established a strong regional presence. These leading companies remain committed to continuous research and development endeavors and actively engage in strategic growth initiatives, including product development, launches, joint ventures, and partnerships. By pursuing these strategies, these companies aim to strengthen their market position, expand their customer base, and capture a substantial share of the market.

Some of the prominent players in the global automotive brake system market include,

  • AKEBONO BRAKE INDUSTRY CO., LTD
  • ZF Friedrichshafen AG
  • ADVICS CO.,LTD.
  • Hitachi Astemo, Ltd.
  • Brembo S.p.A
  • Robert Bosch GmbH
  • AISIN CORPORATION
  • Haldex
  • The Web Co
  • NISSIN KOGYO Co., Ltd., and various others.

 

Global Automotive Brake System Recent Developments

  • In June 2023, The fully-floating, two-piece disc high-performance brake pad alternatives that EBC Brakes Racing has developed especially for the new G87 BMW M2 are their newest offering. EBC Brakes Racing takes the lead with this release, being among the first manufacturers to offer aftermarket performance parts for this eagerly awaited car.
  • In March 2023, Together, SSAB and MENETA have revealed the world's first car brake components and sealing materials made of steel that doesn't come from fossil fuels, marking a crucial turning point in the automobile industry. The partnership between MENETA, a top provider of braking systems, and SSAB, a world leader in the manufacture of high-strength steel, shows their dedication to lowering carbon emissions and switching to more environmentally friendly materials.

 

Scope of the Global Automotive Brake System Market Report

Automotive Brake System Market Report Segmentation

ATTRIBUTE

DETAILS

By Type

  • Disc
  • Drum

By Technology

  • Antilock Braking System (ABS)
  • Traction Control System (TCS)
  • Electronic Stability Control (ESC)
  • Electronic Brake Force Distribution (EBD)

 

By Vehicle Type

  • Passenger ICEx Vehicle
  • Commercial ICE Vehicle
  • Electric Vehicle

By Sales Channel

  • OEM
  • Aftermarket

By Geography

  • North America (USA, and Canada)
  • Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
  • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
  • Latin America (Brazil, Mexico, and Rest of Latin America)
  • Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)

Customization Scope

  • Available upon request

Pricing

  • Available upon request

 

Objectives of the Study

The objectives of the study are summarized in 5 stages. They are as mentioned below:

  • Global Automotive Brake System Market Size and Forecast: To identify and estimate the market size for the global automotive brake system market segmented by type, by technology, by vehicle type, by sales channel, region and by value (in U.S. dollars). Also, to understand the consumption/ demand created by consumers of automotive brake system between 2019 and 2032.
  • Market Landscape and Trends: To identify and infer the drivers, restraints, opportunities, and challenges for the global automotive brake system market
  • Market Influencing Factors: To find out the factors which are affecting the sales of automotive brake system among consumers
  • Impact of COVID-19: To identify and understand the various factors involved in the global automotive brake system market affected by the pandemic
  • Company Profiling: To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company's past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.

Intended Audience

  • Automotive Manufacturers
  • Brake System Suppliers and Manufacturers
  • Governments, Associations, and Industrial Bodies
  • Investors and Trade Experts

Research Methodology

Our research methodology has always been the key differentiating reason which sets us apart in comparison from the competing organizations in the industry. Our organization believes in consistency along with quality and establishing a new level with every new report we generate; our methods are acclaimed and the data/information inside the report is coveted. Our research methodology involves a combination of primary and secondary research methods. Data procurement is one of the most extensive stages in our research process. Our organization helps in assisting the clients to find the opportunities by examining the market across the globe coupled with providing economic statistics for each and every region.  The reports generated and published are based on primary & secondary research. In secondary research, we gather data for global Market through white papers, case studies, blogs, reference customers, news, articles, press releases, white papers, and research studies. We also have our paid data applications which includes hoovers, Bloomberg business week, Avention, and others.

Data Collection

Data collection is the process of gathering, measuring, and analyzing accurate and relevant data from a variety of sources to analyze market and forecast trends. Raw market data is obtained on a broad front. Data is continuously extracted and filtered to ensure only validated and authenticated sources are considered. Data is mined from a varied host of sources including secondary and primary sources.

Primary Research

After the secondary research process, we initiate the primary research phase in which we interact with companies operating within the market space. We interact with related industries to understand the factors that can drive or hamper a market. Exhaustive primary interviews are conducted. Various sources from both the supply and demand sides are interviewed to obtain qualitative and quantitative information for a report which includes suppliers, product providers, domain experts, CEOs, vice presidents, marketing & sales directors, Type & innovation directors, and related key executives from various key companies to ensure a holistic and unbiased picture of the market. 

Secondary Research

A secondary research process is conducted to identify and collect information useful for the extensive, technical, market-oriented, and comprehensive study of the market. Secondary sources include published market studies, competitive information, white papers, analyst reports, government agencies, industry and trade associations, media sources, chambers of commerce, newsletters, trade publications, magazines, Bloomberg BusinessWeek, Factiva, D&B, annual reports, company house documents, investor presentations, articles, journals, blogs, and SEC filings of companies, newspapers, and so on. We have assigned weights to these parameters and quantified their market impacts using the weighted average analysis to derive the expected market growth rate.

Top-Down Approach & Bottom-Up Approach

In the top – down approach, the Global Batteries for Solar Energy Storage Market was further divided into various segments on the basis of the percentage share of each segment. This approach helped in arriving at the market size of each segment globally. The segments market size was further broken down in the regional market size of each segment and sub-segments. The sub-segments were further broken down to country level market. The market size arrived using this approach was then crosschecked with the market size arrived by using bottom-up approach.

In the bottom-up approach, we arrived at the country market size by identifying the revenues and market shares of the key market players. The country market sizes then were added up to arrive at regional market size of the decorated apparel, which eventually added up to arrive at global market size.

This is one of the most reliable methods as the information is directly obtained from the key players in the market and is based on the primary interviews from the key opinion leaders associated with the firms considered in the research. Furthermore, the data obtained from the company sources and the primary respondents was validated through secondary sources including government publications and Bloomberg.

Market Analysis & size Estimation

Post the data mining stage, we gather our findings and analyze them, filtering out relevant insights. These are evaluated across research teams and industry experts. All this data is collected and evaluated by our analysts. The key players in the industry or markets are identified through extensive primary and secondary research. All percentage share splits, and breakdowns have been determined using secondary sources and verified through primary sources. The market size, in terms of value and volume, is determined through primary and secondary research processes, and forecasting models including the time series model, econometric model, judgmental forecasting model, the Delphi method, among Flywheel Energy Storage. Gathered information for market analysis, competitive landscape, growth trends, product development, and pricing trends is fed into the model and analyzed simultaneously.

Quality Checking & Final Review

The analysis done by the research team is further reviewed to check for the accuracy of the data provided to ensure the clients’ requirements. This approach provides essential checks and balances which facilitate the production of quality data. This Type of revision was done in two phases for the authenticity of the data and negligible errors in the report. After quality checking, the report is reviewed to look after the presentation, Type and to recheck if all the requirements of the clients were addressed.

Frequently Asked Questions

The growth of the Automotive Brake System Market is driven by several factors, including increasing vehicle production, rising emphasis on vehicle safety, advancements in brake system technologies, and stringent government regulations promoting brake performance and efficiency.
The latest advancements in automotive brake systems include the integration of electronic braking technologies, such as brake-by-wire and regenerative braking. These innovations aim to enhance braking performance, reduce stopping distances, and contribute to overall vehicle efficiency.
The future outlook for automotive brake systems in the era of autonomous driving involves further integration of smart braking technologies. Brake-by-wire systems, predictive braking algorithms, and enhanced sensor integration are expected to play a crucial role in providing precise and adaptive braking control, contributing to the safety and reliability of autonomous vehicles.
Asia-Pacific held the largest share in 2023.
The major players operating in the global automotive brake system market include AKEBONO BRAKE INDUSTRY CO., LTD.; ZF Friedrichshafen AG, ADVICS CO.,LTD., Hitachi Astemo, Ltd., Brembo S.p.A, Robert Bosch GmbH, AISIN CORPORATION, Haldex, The Web Co, NISSIN KOGYO Co., Ltd. ,and various others.