“Automotive Brake System Market: Global Demand Analysis & Opportunity Outlook 2024”

The global automotive brake system market is segmented into type such as disc brakes and drum brakes. Among these segments, disk brake system segment is expected to occupy top position in overall automotive brake system market during the forecast period. Rising demand for disc brakes in two wheeler vehicle is expected to propel the growth of automotive industry during the forecast period. Furthermore, advanced security and safety features of the disc brakes as compared to drum brake system are anticipated to drive the growth of disc brake market.

Global automotive brake system market is expected to flourish at a significant CAGR of 7.02% during the forecast period. Moreover, the global automotive brake system market is expected to garner USD 37.6 Million by the end of 2024. Increasing vehicle demand across the globe is expected to bolster the growth of automotive brake system market during the forecast period. Additionally, government regulations regarding the vehicle safety standards are anticipated to positively impact the market of automotive brake system.

The anti-lock braking system segment by technology is projected to grow at significant CAGR during the forecast period. Moreover, anti-lock braking system segment dominated the overall automotive brake system market in 2016. Increasing safety concerns among the population is resulting in augmented demand for advanced braking systems such as anti-lock braking system. Moreover, stringent government regulation is anticipated to trigger the growth of anti-lock braking system market during the forecast period. For instance, government of India has made it compulsory for automotive manufacturers to equip two-wheelers with ABS by April 2019.

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Increase in the Number of Vehicle Production in the World

Rising production of vehicles across the globe is fostering the growth of automotive brake system market. According to International Organization of Motor Vehicle Manufacturers, global motor vehicle production witnessed a growth of 4.5% in 2016 as compared to 2015. Further, positive growth trend of automotive production is anticipated to bolster the growth of the automotive brake system market.

Technological Advancements

Advances in technologies such as development of emergency brake assist and electric driven intelligent brake (EDIB) are anticipated to drive the growth of the automotive brake system market. Moreover, increasing concern over road accidents coupled with government regulation regarding vehicle safety is accelerating the growth of the Automotive Brake System market. Although, high cost of advanced braking system is likely to dampen the growth of automotive brake system market during the forecast period.

The report titled “Automotive Brake System Market: Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the global automotive brake system market in terms of market segmentation by type, by mechanism, by technology, by vehicle class and by region. Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

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This report also provides the existing competitive scenario of some of the key players of the global automotive brake system market which includes company profiling of TRW Automotive Holdings, Continental AG, Federal-Mogul Holdings Corporation, Haldex AB., Valeo, Brembo S.p.A., Hyundai Mobis, Halla Mando Corp, Aisin-Seiki Co. Ltd and EBC Brakes. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global automotive brake system market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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