Automotive Hydraulic Brake Market: Introduction
- Rise in vehicle sales and awareness about safety is fueling the demand for automotive hydraulic brakes. These brakes, characterized by their high braking torque and pressure, ensure better safety.
- Hydraulic brake is a type of braking mechanism that utilizes brake fluid (glycol fluids) as the energy transfer medium from brake pedal to friction material. Automotive hydraulic brakes are considered to be self-equalizing brakes and their function is based on the principle of Pascal’s law.
- The pushrod in the hydraulic brake creates a pressure by means of the brake fluid in the master cylinder when the brake pedal is pressed. This pressurized fluid pushes the brake calipers with friction lining against the disc or drum, creating a braking effect.
Key Drivers of Automotive Hydraulic Brake Market
- Steady rise in employment, business investment, and industrial productivity contributed toward continual increase in GDP and real disposable income of populations. Increase in per capita income and industrialization has boosted the sale of passenger vehicles and commercial vehicles across the globe for transportation of people and goods. Brakes being a vital component of automobiles are witnessing relatively high demand due to a rise in sale of vehicles. Popularity of hydraulic brakes is increasing due its improved braking effect, as compared to mechanical or pneumatic brakes, which provides better safety and control of vehicles. Thus, a rise in sales and production of vehicles is driving the automotive hydraulic brake market across the globe.
- The number of road traffic accidents has been increasing for the last few years causing huge loss of life and money. In February 2020, according to the World Health Organization, more than 1.35 million people die in road accidents annually and another 20 to 50 million people encounter non-fatal injuries. Therefore, automakers are emphasizing on braking systems, as these mechanisms are considered to be the primary safety systems of vehicles. Conventional braking mechanisms are being upgraded to hydraulic brakes, as they provide optimum stopping effect with minimal force. Thus, a rise in safety awareness is fueling the global automotive hydraulic brake market.
Challenges to Global Automotive Hydraulic Brake Market
- Hydraulic fluids used in automotive braking are inflammable and toxic in nature, which increases the operational risk of hydraulic brakes. Moreover, the emergence of electric brakes, which offer better control, is hampering the automotive hydraulic brake market.
Impact of COVID-19 Pandemic on Global Automotive Hydraulic Brake Market
- Recent outbreak of COVID-19 pandemic disrupted automotive supply chains around the globe, thus creating a shortage of raw materials and components. This disruption hampered the sales and production activities of automobiles thereby lowering the demand of in automotive hydraulic brake market. However, demand for automotive hydraulic brakes across the globe is anticipated to witness a surge in the next few years, as governments are easing restrictions and companies are restarting their operations with precautionary measures.
North America and Europe to Hold Significant Share of Global Automotive Hydraulic Brake Market
- High awareness among the populations and stringent vehicle safety regulations in North America and Europe are boosting the demand for hydraulic brakes. Furthermore, the stringent motor regulations enacted by governments for vehicle stopping parameters, which include deceleration rate, stopping distance, and other such parameters, are propelling the automotive hydraulic brake market in North America and Europe.
Key Players Operating in Global Automotive Hydraulic Brake Market
The global automotive hydraulic brake market is highly concentrated due to the presence of top manufacturers. A few of the key players operating in the global automotive hydraulic brake market are:
- BorgWarner Inc.
- Brembo S.p.A.
- Continental AG
- Coremo Ocmea S.p.A.
- EBC Brakes
- Federal-Mogul Motorparts LLC
- Knorr-Bremse AG
- MICO, Inc.
- Robert Bosch GmbH
- Svendborg Brakes
Global Automotive Hydraulic Brake Market: Research Scope
Global Automotive Hydraulic Brake Market, by Type
Global Automotive Hydraulic Brake Market, by Component
- Master cylinder
- Brake fluid
- Brake drum
- Friction material
Global Automotive Hydraulic Brake Market, by Vehicle Type
- Two Wheeler Vehicle
- Passenger Vehicle
- Utility Vehicle
- Commercial Vehicle
Global Automotive Hydraulic Brake Market, by Sales Channel
Global Automotive Hydraulic Brake Market, by Region
- North America
- Nordic Region
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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