Automotive Braking System Market – Snapshot
Automotive Braking system is used to halt a vehicle’s motion. It is an integral part of vehicle safety equipment as it prevents collision. Increase in demand for performance and high-speed vehicles has spurred the need of effective braking. Demand for high response braking and shorter braking distance is driving the global automotive braking system market.
High economic growth in BRICS countries has increased the number of first time consumers in these countries. Rise in per capita income and improvement in infrastructure are boosting demand of vehicles. This, in turn, propels demand for automotive braking system. China’s tax exemption on small engine vehicle to curb pollution is boosting production of compact and small-segment vehicles in the country. Thus increasing production of vehicles in China drives the global automotive braking system market. The Japan’s 2017 trade agreement with European Union permits tax reliefs on Japan-based imports in the European Union. This trade affair is likely to increase production of vehicles in Japan, thus boosting the market in Asia Pacific.
Rise in average age of vehicle and expansion of the used car market are boosting the aftermarket demand of automotive braking system. Increase in awareness regarding vehicle maintenance among consumers and expansion of retailer/dealer aftermarket network boosts the aftermarket segment of the automotive braking system market. Brakes are extensively utilized and are susceptible to wear and tear, thus require periodic replacement. Brake fade compromises vehicle safety and can cause accidents; therefore, brakes are one of the most replaced aftermarket components. This is likely to drive the aftermarket segment of the market.
Disc brakes provide better braking efficiency; therefore, these are being preferred by consumer for passenger vehicles. Disc brakes have cooler operation and shorter braking distance. Disc brakes offer prompt braking response and are thus widely used as front brakes. Disk brakes have numerous advantages over drum brake, hence, several auto makers offer disc brakes in vehicles. Shift from drum brakes to disc breaks in passenger vehicle is estimated to drive the disc brake segment of the automotive braking system market.
The changing dynamics of trucking and demand for premium services have increased the adoption of pneumatic automotive braking systems. High demand for pneumatic automotive braking systems in North America. Pneumatic brakes offer high response braking in heavy duty trucks, which is anticipated to propel the segment during the forecast period.
Improvements in transport logistics and infrastructure increases demand for commercial vehicles in Asia Pacific and Latin America. This is expected to drive the automotive braking system market in these regions. The high use of drum brakes in commercial vehicle is estimated to drive the drum brake segment of the automotive braking system market.
Key players operating in the automotive braking system market are ZF Friedrichshafen AG, Akebono Brake Industry Co., Ltd., Brembo S.p.A, Continental AG, Robert Bosch GmbH, AISIN SEIKI, Borg Warner, WABCO, Hyundai Mobis, Hitachi Ltd., FTE Automotive, Futitsu Ten Ltd., Nissin Kogya Co., Ltd., Brakes India, Federal Mogul LLC., Haldex Group, Hella Pagid GmbH, Sumitomo Riko Company Ltd., Hutchinson SA, Nisshinbo Brake Inc., TMD Friction Holdings GmbH, MAT Holdings, Inc., ASK Automotive Pvt. Ltd., BNA Automotive India Pvt. Ltd., AC Delco, Meritor, Inc., Mando Corporation, Knorr Bremse AG, ADVICS CO., LTD., and EXEDY Corporation.
Automotive Braking System Market – Overview
The automotive braking system market has been forecasted for the period 2018 to 2026 based on revenue (US$ Mn) and volume (Million Units). This report provides forecasts and analysis of the automotive braking system market at the regional and global levels. The study highlights the market drivers and restraint influencing the market. The report also highlights opportunities in the automotive braking system market and underlines the technological roadmap for understanding the market.
The report contains value chain analysis, which provides a comprehensive view of the global automotive braking system market. The Porter’s Five Forces analysis of the automotive braking system market has also been included to help understand the competitive landscape in the market. The study encompasses market attractiveness analysis, wherein end-users are benchmarked based on their market size, growth rate, and attractiveness.
The study provides a decisive view of the global automotive braking system market by segmenting it in terms of design, system type, sales channel, vehicle type, and region. These segments have been analyzed based on present and future trends. Regional segmentation comprises current scenario along with forecast of the automotive braking system market. The forecast provided is based on the compilation of current trends as well as the expected scenario in future due to change in technological, geographical, political, and economic factors such as the rapid growth of the electric vehicles market. Demand for high safety among consumers and government safety regulations have been considered while sizing the market.
The study includes profiles of major companies operating in the global automotive braking system market. The major share of the market is held by a few key players and the rest is fragmented between small manufacturers. Major players in the automotive braking system market are ZF Friedrichshafen AG, Brembo S.p.A., Continental AG, Robert Bosch GmbH, AISIN SEIKI, Borg Warner, WABCO, Hyundai Mobis, Hitachi Ltd., FTE Automotive, Futitsu Ten Ltd., Nissin Kogya Co., Ltd., Brakes India, Federal Mogul LLC., Haldex Group, Hella Pagid GmbH, Sumitomo Riko Company Ltd., Hutchinson SA, Nisshinbo Brake Inc., TMD Friction Holdings GmbH, MAT Holdings, Inc., ASK Automotive Pvt. Ltd., BNA Automotive India Pvt. Ltd., AC Delco, Meritor, Inc., Mando Corporation, Knorr Bremse AG, ADVICS CO., LTD., and EXEDY Corporation. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, and recent developments. The automotive braking system market is primarily driven by increaseasing demand of occupant safety and high speed vehicles. Being an integral safety equipment preventing collisions, the technological advancements in design and systems have propelled the braking system market.
The report provides the estimated market size of the automotive braking system market for 2017 and forecast for the next nine years. The global market size has been provided in terms of revenue (US$ Mn) and volume (Million Units). Market figures have been estimated based on design, system type, sales channel, vehicle type, and regions. Size and forecast for each major segment have been provided in terms of global and regional/country markets.
In-depth interviews and discussions were conducted with a number of key industry participants and opinion from leaders to compile the research report. Primary research represents the bulk of research efforts, supplemented by extensive secondary research. Key players’ product literature, annual reports, press releases, and relevant documents were reviewed for competitive analysis and market understanding. Secondary research also includes a search of recent trade, technical writing, Internet sources, and statistical data from government websites, trade associations, and agencies. This has proven to be the most reliable, effective, and successful approach for obtaining precise market data, capturing industry participants’ insights, and recognizing business opportunities.
Secondary research sources that are typically referred to include, but are not limited to company websites, annual reports, financial reports, broker reports, investor presentations, and SEC filings, internal and external proprietary databases, and relevant patent and regulatory databases, national government documents, statistical databases, market reports, news articles, press releases, and webcasts specific to companies operating in the market, American Automobile Association, European Automobile Manufacturers Association, Automotive Research Association of India, Organisation Internationale des Constructeurs d'Automobile (OICA), Factiva, etc.
Primary research involves e-mail interactions and telephonic interviews for each market, category, segment, and sub-segment across regions. Primary interviews are conducted on an ongoing basis with industry participants and commentators in order to validate the data and analysis. Primary interviews provide firsthand information on market size, market trends, growth trends, competitive landscape, and outlook, etc. These help validate and strengthen secondary research findings. These also help develop the analysis team’s expertise and market understanding.
The global automotive braking system market has been segmented as follows:
Global Automotive Braking System Market, by Part Type
Global Automotive Braking System Market, by System Type
Global Automotive Braking System Market, by Sales Channel
- OEM (original equipment manufacturer)
Global Automotive Braking System Market, by Vehicle
- Passenger Vehicles
- Commercial Vehicles
Global Automotive Braking System Market, by Region/Country/Sub-region
- North America
- Latin America
- Rest of Latin America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa