Market Insights and Analysis: Automotive Brake System Market Overview and Projections (2024-2030)
The Global Automotive Brake System Market size was valued at around USD 23.25 billion in 2023 & is estimated to grow at a CAGR of around 6.1% during the forecast period, i.e., 2024-30.
Top leading companies in the Automotive Brake System Market includes:
Brembo S.p.A., Continental AG, ZF Industrial Technology Division, Robert Bosch Gmbh, Akebono Brake Industry Co., Ltd., Aisin Seiki Co., Ltd., Hitachi Astemo Ltd., Knorr-Bremse Ag, Haldex Ab, Denso Corporation, Mando Corporation, Hyundai Mobis Co., Ltd., Wuhan Youfin Auto Parts Co., Ltd., Bethel Automotive Safety System Co., Ltd. (WBTL), Beringer, Others
Industry Recent Development:
- 2023: Brembo S.p.A. introduced Greenance, a cutting-edge brake kit tailored for light commercial vehicles. With over three times the lifespan of current aftermarket alternatives, Greenance slashes particulate emissions by over 80%. This innovative kit strikes a balance between efficiency and durability, significantly reducing environmental impact during braking.
- 2023: Continental AG launched its latest conventional electronic brake system, the MK 120 Electronic Stability Control. It has commenced supplying this system to Chinese automaker Changan.
- 2023: ZF Industrial Technology division unveiled its innovative brake-by-wire system that would integrate into vehicles supporting heavy-duty industries like construction, mining, and agriculture.
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Report Segmentation:
The market is categorized into the following segments in the report:
By Brake Type
-Disc Brakes
-Drum Brakes
-Hydrostatic Brakes
-Hydraulic Wet Brakes
-Dynamic Brakes
-Others
By Technology
-Anti-lock Braking System (ABS)
-Electronic Stability Control (ESC)
-Traction Control System (TCS)
-Electronic Brakeforce Distribution (EBD)
-Automatic Emergency Braking (AEB)
By Vehicle Type
-Passenger Cars
-Light Commercial Vehicles
-Trucks
-Buses
- The Passenger Car brake systems segment is poised to dominate the Automotive Brake System Market, holding the largest market share during the forecast period.
By Actuation Type
-Hydraulic
-Pneumatic
By Component
-Master Cylinders
-Brake Pads
-Brake Shoes
-Brake Calipers
-Brake Disc Rotors
By Electric Vehicle Type
-Battery EVs
-Plug-in Hybrid EVs
By Application
-Agricultural Tractors
-Construction Equipment
-Mining Equipment
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Automotive Brake System Market Geographic Reach:
The Geographic Reach of the Automotive Brake System Market evaluates the spread and significance of Automotive Brake System market consumption across different regions/country, emphasizing areas with the largest market size and the most promising growth potential.
- North America: US, Canada, Mexico
- Europe: Germany, The UK, France, Spain, Italy, Rest of Europe
- Asia-Pacific: China, India, Japan, South Korea, Australia, Rest of Asia- Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, South Africa, Rest of MEA
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