Automotive Braking System Market By Type (Disc Brake, Drum Brake), By Mode Of Operation (Hydraulic Braking System, Pneumatic Braking System), By Technology (Antilock Braking System (ABS), Electronic Stability Control (ESC), Regenerative Braking), By Vehicle Class (Two Wheeler, Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle) - Growth, Share, Opportunities & Competitive Analysis, 2016 - 2024

Modern automobiles are built with high-performance features like exceptional speed and improved overall efficiency in mind. However, with the enhancement of performance parameters, it becomes essential to incorporate the related safety systems in automobile vehicles. The automotive braking system is one of the most crucial and integral components of any automobile vehicle. In order to regulate the vehicle speed and reduce the vehicle stopping distance, advanced braking systems are required. Each braking system is designed and preferred based on its application and working conditions. To meet the safety challenges, automotive braking systems are now manufactured with electronics and extra features for an efficient, economical, and long-lasting braking system.

The overall automotive braking system market is strongly driven by the ever-increasing demand for on-road vehicles. Post-recession, the automotive industry worldwide has exhibited positive signs of recovery in recent years. The consumption of luxury and semi-luxury high-performance vehicles has increased significantly over time. Subsequently, the need for efficient braking systems for vehicles, including passenger cars, light commercial vehicles, heavy commercial vehicles, and two-wheelers, is perpetually increasing. This would continue to spur the automotive braking system market considerably in the coming years.

Automotive braking systems are segmented according to their type, working medium, technology, and vehicle types. According to type, braking systems are classified as disc brake systems and drum brake systems. On the basis of vehicle class, the market is classified into passenger cars, light commercial vehicles (L.C.V.), heavy commercial vehicles (HCV), and two-wheelers. Automotive brake systems are segmented, based on the mode of operation, as hydraulic brake systems and pneumatic (air) brake systems. On the basis of geographic regions, the automotive braking system is segmented into North America, Europe, Asia Pacific, the Middle East and Africa (M.E.A.), and Latin America. At present, Asia Pacific leads the automotive braking system market. Countries with a large automotive industries, such as China, Japan, South Korea, and India, dominate the market.

The report titled "Automotive Braking System Market: Growth, Future Prospects, and Competitive Landscape, 2016–2024" offers strategic insights into the global automotive braking system market with a focus on the market's size and estimates for the duration of 2014–2024. The said research study covers an in-depth analysis of multiple market segments based on product types, working medium, technology, end-use, and a cross-sectional study across different geographies. The study covers the comparative analysis of different segments for the years 2015 and 2024. The report also provides a prolific view of market dynamics, such as market drivers, restraints, and opportunities.

The report also includes competitive profiling of the leading automotive braking system manufacturers, their strategies, market positioning, and key developments to assist strategic decision-makers.Some of the major players profiled in the report include Continental AG, Robert Bosch GmbH, ZF T.R.W., HallaMando Corp., R.W. Automotive Holdings Corp., Aisin-Seiki Co., Ltd., Akebono Brake Industry Co., Ltd., Brembo S.P.A., CA Traffic Limited, Knorr-Bremse AG, Advics Group, Haldex, and others.

Other in-depth analysis provided in the report includes:

  • Current and future market trends to justify the forthcoming attractive markets within the automotive braking system.
  • Market fullers, market impediments, and their impact on market growth
  • in-depth competitive environment analysis
  • Trailing 2-year market size data (2014–2015)
  • S.R.C. (Segment, Region, Country) Analysis

Overall, the research study provides a holistic view of the global automotive braking system, offering market size and estimates for the period from 2016 to 2024, keeping in mind the above-mentioned factors.

The global automotive braking system market is segmented, based on its types, into the following categories:

  • Disk Brake
  • Drum Brake

As of 2015, the disc brake market was the largest segment, in terms of revenue, of the overall automotive braking systems market worldwide. Owing to quick response and reduced vehicle stopping distance, disc brake systems are prominently applied in most automobiles. Disc brakes are compatible with two-wheelers, passenger cars, and light commercial vehicles. With the rise in demand for on-road automotive vehicles worldwide and increased safety in braking systems, the automotive disc brake system market is expected to maintain its dominance in the future.

The overall demand for automotive braking systems is estimated to remain average in the drum brake segment. The efficiency of drum brakes is limited as compared to disc brakes. Factors including excessive heat generation, elongated stopping distances, and a fractionally delayed response compared to disc brakes have made drum brake systems fall behind in terms of application. With limited applications such as emergency brakes and parking brakes, overall demand for drum brakes is estimated to remain stagnant in the coming years. Consequently, the overall growth of the drum brake segment is expected to remain low in the overall automotive braking system market.

The global automotive braking system market is segmented, based on vehicle class, into the following categories:

  • Passenger Cars
  • Light Commercial Vehicles (L.C.V.)
  • Heavy Commercial Vehicles (HCV)
  • Two-wheelers

Automotive braking systems are applied to different segments of automobiles, depending on their design, working conditions, and efficiency. On the basis of vehicle class, the passenger car segment dominated the overall automotive braking system market in 2015. With a significant rise in the sales of passenger cars, the demand for efficient braking systems for these cars has also escalated over time. The two-wheelers braking system segment succeeds in the passenger car segment.

With the adoption of new technologies in braking systems, two-wheelers are also getting the advantage of advanced features for safety. Rising consumer preference towards advanced safety technology (including braking systems) in two-wheelers has led to a spur in the segment's automotive braking system. Moreover, rapid industrialization and increased trading activities, and industrial logistics have significantly boosted the consumption of light and heavy commercial vehicles. Consequently, the automotive braking market for these segments is also expected to grow at a consistent rate in the coming years.

The global automotive braking system market is segmented, based on its working technique, into the following categories:

  • Hydraulic Braking System
  • Pneumatic Braking System

Hydraulic and pneumatic braking systems have completely taken over the conventional mechanical braking system across all vehicle classes. The hydraulic braking system is by far the most widely adopted braking system in the automobile industry. Hydraulic braking systems offer several merits, such as quick response, compact construction, and efficient braking. The vehicle stopping distance of a hydraulic braking system is significantly less compared to other braking methods. Subsequently, hydraulic braking systems are suitable for almost all vehicle classes, including passenger cars, light commercial vehicles, and two-wheelers. With the consistent growth expected across the automotive industry, hydraulic brake systems are projected to retain their dominant position in the market throughout the forecast period.

In terms of revenue, the pneumatic braking system segment trailed the hydraulic braking segment in 2015. Pneumatic braking systems are heavy in construction and can transfer braking force over a longer distance than hydraulic braking systems. Owing to these attributes, pneumatic braking systems are particularly used in heavy commercial vehicles. In addition, the overall running cost of a pneumatic braking system is limited as it uses air as its working medium. Consistently rising demand for commercial vehicles worldwide would lead to steady demand for pneumatic braking systems.

The global automotive braking system market is segmented, based on technology, into the following categories:

  • Antilock Braking System (A.B.S.)
  • Electronic Stability Control System
  • Regenerative Braking System

The introduction of electronic systems has increased the efficiency of modern automotive braking systems. One of the most commonly used electronic features in automotive braking systems is the antilock braking system (A.B.S.). The antilock braking system helps to prevent vehicle skidding when braking suddenly, lowering the risk of serious accidents. A.B.S. has been made mandatory in various countries, including the U.S., the U.K., and other European countries. This has resulted in rapid growth in the A.B.S. segment over time.

Electronic stability control systems (E.S.C.) are expected to emerge as the fastest-growing segment in the overall automotive system market. E.S.C. offers various improved features over A.B.S., including better traction control and the prevention of mishaps due to oversteering. Similar to A.B.S., E.S.C. is mandatory in vehicles across countries such as the U.S., Canada, the U.K., and other countries under the European Union.

Further, regenerative braking is another promising technology being adopted in these nascent times. With the ability to generate electricity through braking force, regenerative braking is applied in electric and hybrid vehicles. With the rising trend of electric and hybrid vehicles, the overall regenerative braking system market is expected to grow at a continuous rate during the forecast period.

The global automotive braking system market has been segmented on the basis of geographical regions, as per the following regions and countries:

  • North America
  • U.S.
  • Canada
  • Europe
  • U.K.
  • Germany
  • France
  • Rest of Europe
  • Asia Pacific
  • Japan
  • China
  • South Asia
  • Rest of Asia Pacific
  • Middle East and Africa
  • G.C.C.
  • South Africa
  • the remainder of M.E.A.
  • Latin America
  • Brazil
  • Mexico
  • rest of Latin America

Asia Pacific dominated the overall automotive brake market as of 2015. Owing to robust economic growth and escalating lifestyles, countries in Asia and the Pacific are showing a significant rise in the consumption of on-road vehicles in relatively recent times. Many countries, including China, Japan, South Korea, and others, are the prime manufacturing hubs for a variety of industries, including automobile manufacturing. In order to aid automobile manufacturing, automotive braking systems are consumed on a large scale in these regions. This has led the automotive braking system market here to grow perpetually over the course of time. Consequently, the automotive braking system market is expected to continue witnessing significant growth in the future.

Europe succeeds Asia Pacific, in terms of revenue, in the global automotive braking system market. European automobile manufacturers are among the earliest adopters of technologies such as antilock braking systems and electronic stability control in their vehicles. It is mandatory to have an antilock braking system and an electronic stability control system in all new passenger cars in the countries of the European Union, as per the law enforced by the authorities.

Government regulations and steady automobile demand have increased the consumption of automotive braking systems. Consequently, Europe is expected to display steady growth in automotive braking systems. North America is expected to show moderate growth in the overall automotive braking system market.

Frequently Asked Questions:

The market for Automotive Braking System Market is expected to reach US$ XX Mn By 2024.

The Automotive Braking System Market is expected to see significant CAGR growth over the coming years, at 5.5%.

The report is forecasted from 2016-2024.

The base year of this report is 2015.

Robert Bosch GmbH, ZF T.R.W., HallaMando Corp., R.W. Automotive Holdings Corp., Aisin-Seiki Co., Ltd., Akebono Brake Industry Co., Ltd., Brembo S.P.A., CA Traffic Limited, Knorr-Bremse AG are some of the major players in the global market.

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Published Date:  Jan 2017
Category:  Automotive & Transportation
Report ID:   58328
Report Format:   PDF
Pages:   120
Rating:    4.5 (70)
Delivery Time: 24 Hours to 48 Hours   
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