Global Automotive Brake Components Market Overview

Global automotive brake components market is anticipated to register growth during the forecast period, on account of surging demand for automobiles in developing as well as developed economies. Stringent government regulations and mandates with reference to vehicular safety norms, in addition to government initiatives in economies such as China and India aimed at boosting vehicle production, is driving global automotive brake components market. The main objective of a brake system is to reduce the speed and stop the vehicle. Automotive braking components, such as brake caliper, brake shoe, brake line and brake pad, are responsible for producing the braking effect in vehicles. Regenerative braking, ABS and other technological advancements have gain popularity over the last decade.

Global Automotive Brake Components Market Segmentation

Global Automotive Brake Components Market can be categorized based on vehicle type, product type and demand category. Disc and drum are two major brakes used in automobiles. In terms of product type, the market for automotive brake components can be segmented into brake caliper, brake shoe, brake line and brake pad. Floating calipers have high rigidness and rigid mounting, enhancing the performance of brakes. Brake shoe segment is expected to grow at a significant rate due to high preference and demand for passenger cars in which it is used. In terms of vehicle type, passenger cars are the preferred choice and the trend is likely to continue during the forecast period, on the back of high demand for SUVs and sedans.

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Globally, automotive brake components market is gaining traction and expanding to various regions including Asia-Pacific, North America, Europe, South America and Middle East & Africa. Asia-Pacific is anticipated to dominate global automotive brake components market during the forecast period, owing to rising vehicle production in economies such as India and China.

Competitive Landscape

Major players operating in global automotive brake components market include ZF Friedrichshafen AG, Delphi Automotive PLC, Continental AG, Valeo S.A, Robert Bosch GmbH, Mando Corporation, Wabco Holdings Inc., Knorr Bremse AG, Aisin Seiki Co. Ltd, etc. Major companies are developing advanced technologies and launching new products in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments. In 2017, Continental AG developed an innovative brake design in which brake discs are mounted on component carrier star. Some of the leading players operating in global automotive brake components market are ZF Friedrichshafen AG, Delphi Automotive PLC, Continental AG, Valeo S.A, Robert Bosch GmbH, Mando Corporation, Wabco Holdings Inc., Knorr Bremse AG, Aisin Seiki Co. Ltd, etc.

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TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed manufacturers, distribution channels and presence of all major manufacturers across the globe.

TechSci Research calculated global Automotive Brake Components Market size using a bottom-up approach, where data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.

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