Current advancements in automotive technology and developments in aerodynamic design have enabled us to utilize engine power efficiently and helped us achieve more speeds. Driving automobiles at high speeds demands effective vehicle stability. Automobile manufacturers have largely focused on the development of vehicles that are fast and safe. Brakes have become an important and crucial part of any vehicle to ensure safety, which becomes highly essential when the demand for speed is increasing consistently.  An automotive brake system is commonly employed in different automobiles. It includes a brake device comprising different components such as brake pads, brake shoes, brake drum, rotor, piston, caliper, master cylinder, and brake booster, which are utilized for decelerating a vehicle. 

Expansion of the automotive industry is projected to drive the global automotive brake system market along with the increasing concerns over safety and resulting government pressures that have up turned the automotive manufacturer towards the launching of higher technology content, thereby driving the demand for global automotive brake systems across the globe. 

The global automotive brake system market can be segmented based on product, operation, technology, vehicle, and region. In terms of product, the automotive brake system market can be divided into disk brake and drum brake. The disk brake segment is estimated to expand significantly during the forecast period due to the efficient and quick response of disc brakes than drum brakes. Based on operation, the automotive brake system market can be classified into electronics, hydraulic, flywheel, and spring. In terms of value, the electronics segment is likely to hold a major share of the automotive brake system market in the near future. Increasing mandates by the government for improving vehicle safety has strongly contributed to the demand of the global automotive brake system market. The major restraint in the global automotive brake system market is the higher cost of the newer technology of electronic systems as compared to the commonly used hydraulic systems. Based on technology, the automotive brake system market can be segregated into antilock braking system, traction control system, and electronic stability control.

Automotive electronic stability control segment is expanding at a significant pace due to multiple benefits over the conventional systems such as reduction in number of brake system component, predictive braking controls, lower maintenance, and enhanced diagnostic of the complete system. In terms of vehicle, the automotive valve market can be classified into passenger vehicle, light commercial vehicle, heavy commercial vehicle, and electric vehicle (BEVs, HEVs, and PHEVs). Continuous promotion and support by the government toward the usage of green energy is expected to drive the market for electrical vehicle during the forecast period. Hybrid electric vehicles segment constitute larger share of the global market than battery electric vehicle or plug hybrid electric vehicle segment.

Base on region, the global automotive brake system market can be segmented based on North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific constitutes significant share of the automotive brake system market. The key countries in the Asia Pacific are projected to be India, South Korea, and China as an outcome of the increasing demand for commercial vehicle and passenger vehicle. Japan also contributes to the global automotive brake system market remarkably. China is expected to be the largest opportunity in terms of revenue of the industry. Europe is expected to be the second largest market in global automotive brake system market followed by North America.

Key players are operating in the global market are Continental AG, AKEBONO BRAKE INDUSTRY CO., LTD., Robert Bosch GmbH, ZF Friedrichshafen AG, AISIN SEIKI Co., Ltd., DENSO CORPORATION, Wabco Holdings, Inc., and Knorr-Bremse AG

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Automotive Brake System Market

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