Brake System Market by Product Type (Disc Brake, Drum Brake, Hydrostatic Brake, Hydraulic Wet Brake, Regenerative and Dynamic Braking), Distribution Channel (Aftermarket, and OEMs), End User (Automotive, Construction Equipment, Agricultural Equipment, Industrial Trucks, and Mining Equipment): Global Market Size Estimates and Forecast (2022–2030)

BMIRE00025978 | Pages: 100 | Automotive and Transportation | Sep 2022 | Type: Global | Status: Published

The market crossed US$ 22.0 billion mark in 2022 and is expected to hit US$ 28.5 billion by 2030, recording a CAGR of 4.5% during the forecast period.

Brake system market has been significantly growing with the high adoption of stringent safety regulations, and high demand from luxury cars.

Growing adoption of air disc brakes in commercial vehicles and rising safety regulations are some of the major factors driving the growth of the brake system market. In addition, rising concerns regarding road traffic collisions and the growing number of injuries have driven participants to incorporate robust safety measures or systems which is expected to witness a significant brake system market growth during the forecast period. From 2022 onwards, the National Highway Traffic Safety Administration (NHTSA), the U.S. transportation department has planned to make automatic emergency braking mandatory in vehicles. The hydraulic brake segment is expected to hold the largest share in the brake system market. Further, disc brakes segment is also expected to gain traction during the forecasted year.

Within the report, the brake system market is segmented into product type, distribution channel, end user, and geography. By product type, the brake system market is further segmented into disc brake, drum brake, hydrostatic brake, hydraulic wet brake, regenerative and dynamic braking. On the basis of distribution channel, the brake system market is bifurcated into aftermarket, and OEMs. By end user, the brake system market is categorized into automotive, construction equipment, agricultural equipment, industrial trucks, and mining equipment. Geographically, the market is subsegmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

Rise in the production and sales of commercial vehicle is enhancing the growth of brake system market.

The increase in sales of commercial vehicles which mainly driven by the growing logistics industry is boosting the brake system market growth. Further, the growing number of road accidents causing due to brake failure, and rise in demand for active safety system is also contributing to brake system market growth. In addition, the rising trend of advanced driver assistance system (ADAS) is expected to offer new opportunities for brake system market in the coming few years. Furthermore, the increase infrastructure, construction development projects, rising investment in mining industry are boosting the demand for commercial vehicles and brake system. Moreover, the surge in the demand for off-highway trucks and advanced trucks is also fueling the brake system market growth.

The growing trend of ABS, EBD in braking system is one of the major factors accelerating the brake system market growth.

Using electronic braking systems such as Anti-lock Brake Systems (ABS), and Electronic Brakeforce Distribution (EBD) can support decrease the stopping distance. ABS empowers vehicle stability and provide directional control and supports reduce stopping distance specially during hard braking. EBD is an extension of the ABS system and is mainly responsible for dispensing equal force to each wheel in vehicle.

Get more information on this report :

Recent strategic developments in Brake System market

The Brake System market has undergone several significant developments, and a few of these have been mentioned below:

  • In May 2022, Haldex AB signed a multi-year contract with leading trailer manufacturer for supply of air disc brakes.
  • In October 2021, Brembo is planning to launch a new intelligent braking system called Sensify in 2024. Sensify can operate independently on each of a vehicle's four wheels.

The Brake System market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Aisin Seiki Co., Ltd., Brembo S.P.A, Continental AG, Delphi Technologies, Haldex AB, Hitachi Automotive Systems, Ltd, Knorr-Bremse AG, Robert Bosch GmbH, Wabco Holdings, Inc., ZF Friedrichshafen AG are among the prominent players operating in the brake system market.

Target audience for the report:

  • Raw material suppliers
  • Component/part manufacturers
  • Brake system manufacturers
  • Aftermarket services
  • OEMs
  • Automotive dealers
  • Government bodies, such as regulating authorities and policy makers
  • Venture capitalists, private equity firms, and start-up companies
  • End users of automotive, agriculture, mining, construction sector

Scope of the report:

In this report, the market has been segmented on the basis of:

  • Product Type:
    • Disc Brake
    • Drum Brake
    • Hydrostatic Brake
    • Hydraulic Wet Brake
    • Regenerative and Dynamic Braking
  • Distribution Channel
    • Aftermarket
    • OEMs
  • End User:
    • Automotive
    • Construction Equipment
    • Agricultural Equipment
    • Industrial Trucks
    • Mining Equipment
  • Region
    • North America
    • Europe
    • Asia Pacific (APAC)
    • South & Central America
    • Middle East & Africa
  • Companies profiled
    • Aisin Seiki Co., Ltd.
    • Brembo S.P.A
    • Continental AG
    • Delphi Technologies
    • Haldex AB
    • Hitachi Automotive Systems, Ltd
    • Knorr-Bremse AG
    • Robert Bosch GmbH.
  • Aisin Seiki Co., Ltd.
  • Brembo S.P.A
  • Continental AG
  • Delphi Technologies
  • Haldex AB
  • Hitachi Automotive Systems, Ltd
  • Knorr-Bremse AG
  • Robert Bosch GmbH.
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