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| Market Size | CAGR | Dominating Region |
|---|---|---|
| USD 29 billion | 11.9% | Asia Pacific |
| By Technology | By Application | By Region |
|---|---|---|
|
|
|
SCOPE OF THE REPORT
Brake System Market Overview
The global brake system market is projected to reach USD 29 billion by 2029 from USD 19.33 billion in 2020, at a CAGR of 11.9% from 2022 to 2029.
Vehicle brakes are one of the most important components. A master cylinder, brake pedal, brake shoes, brake calipers, brake drum, brake disc, brake rotor, brake lining, and hoses are all part of the brake system. The Automotive Braking System is a collection of mechanical linkages and components that transform the kinetic energy of the vehicle into heat energy to accelerate it. The frictional force between the brake shoes and the moving drum of the braking system causes this transfer of kinetic energy into heat energy. Automobile brake systems are commonly used in many vehicles. By integrating brakes and sensors, the automotive braking system prevents accidents. Due to the deployment of modern systems such as Antilock Braking System (ABS), Traction Control Systems (TCS), Electronic Stability Control (ESC), and Electronic Brake-Force Distribution (EBD), among others, the market is predicted to grow significantly over the next eight years. Smart braking systems have resulted in a reduction in the number of accidents and fatalities. These can be used with other safety features such as speed control and vehicle sliding prevention to reduce the likelihood of an accident. Increased car production and sales, as well as rules governing stopping distances, have all contributed significantly to the industry’s growth and development.
| ATTRIBUTE | DETAILS |
| Study period | 2020-2029 |
| Base year | 2021 |
| Estimated year | 2022 |
| Forecasted year | 2022-2029 |
| Historical period | 2018-2020 |
| Unit | Value (USD Million) |
| Segmentation | By Technology, By Application, By Region
|
| By Technology |
|
| By Application
 |
|
| By Region
 |
|
The installation of active and passive safety systems in autos is becoming more popular. According to the World Health Organization (WHO), over 1.3 million people die in car accidents each year, and the bulk of these deaths might be avoided if automobiles had more robust safety features.
Brake systems are essential components of any vehicle. As a result, increased production and sales of commercial vehicles have a direct impact on the brake system industry. According to figures from the International Organization of Motor Vehicle Manufacturers (OICA), global commercial vehicle sales reached 27 million units in 2019, up 3.8 percent from 2018. Furthermore, increased sales of commercial vehicles, especially due to the rise of the logistics industry, are projected to stimulate brake system improvement. Furthermore, the rise in commercial vehicle production has increased demand for active safety systems. As a result, firms are adopting and deploying active safety technologies in commercial vehicles, such as advanced driver assist systems (ADAS).
Governments all across the world are concentrating on developing a standard that will improve driver and passenger safety. As a result, regulatory agencies have enacted strict requirements aimed at improving active vehicle safety. For example, the National Highway Traffic Safety Administration (NHTSA) and the Insurance Institute for Highway Safety (IIHS), along with 20 major automakers, have stated that automatic emergency braking (AEB) will be a standard feature in all new cars starting in September 2022. From September 1, 2018, to August 31, 2019, 12 manufacturers installed automated emergency braking (AEB) systems in more than 75% of their new passenger vehicles.
Brake System Market Segment Analysis
The brake systems market is divided into antilock braking system, traction control system, electronic stability control, electronic brake force distribution, electronic brake system based on technology. Electronic break system segment is dominating the market growth. Drum brakes, pumping brakes, and vacuum assisted brake systems all have a smaller market share than electronic brakes. Furthermore, according to the International Energy Agency, electric car sales hit 5.1 million units in 2018 and are expected to reach 125 million units by 2030, resulting in a large increase in demand for brake systems during the forecast period 2021-2026.
The market is divided into passenger cars, commercial vehicles, two wheelers, trains based on application. The impact of Advanced Driver Assistance Systems on the passenger car’s significant market share and growth is the most important factor (ADAS). Furthermore, between 2016 and 2019, $65 billion was invested in the development of ADAS. As a result, rising expenditures in ADAS are expected to have an impact on the brake systems market due to an increase in demand for electromagnetic and electromagnetic induction braking systems in cars, motorcycles, and other vehicles over the forecast period. Brake systems are used in trains as well as cars, with the vacuum brake system being the most common. Due to the safety applications in the use of heavy commercial vehicles such as tractors, loaders, and excavators in various off-highway applications, the brake system market is expected to increase positively.
Brake System Market Players
The major players operating in the global brake systems industry include Robert Bosch GmbH, ZF Friedrichshafen AG, Continental AG, Aisin Seiki Co, Ltd., Knorr-Bremse AG, and Brembo S.p.A, ADVICS Co., Ltd. The presence of established industry players and is characterized by mergers and acquisitions, joint ventures, capacity expansions, substantial distribution, and branding decisions to improve market share and regional presence. Also, they are involved in continuous R&D activities to develop new products as well as are focused on expanding the product portfolio. This is expected to intensify competition and pose a potential threat to the new players entering the market.
Toyota to Accelerate Consolidation of Brake System Engineering, Manufacturing, and Sales under Advics Co., Ltd.
Advics Co., Ltd., Aisin Seiki Co., Ltd., Denso Corporation, Sumitomo Electric Industries Ltd., and Toyota Motor Corporation (TMC) will accelerate the consolidation of brake system engineering, manufacturing, and sales under the control of Advics to further strengthen the competitiveness of Toyota’s brake system business.
Who Should Buy? Or Key Stakeholders
- Research and development
- Manufacturing
- End Use industries
- Automotive sector
- Others
Brake System Market Regional Analysis
Geographically, the brake systems market is segmented into North America, South America, Europe, APAC and MEA.
- North America: includes the US, Canada, Mexico
- Europe: includes UK, Germany, France, Italy, Spain, Russia, and Rest of Europe
- Asia Pacific: includes China, Japan, South Korea, India, Australia, ASEAN and Rest of APAC
- South America: includes Brazil, Argentina and Rest of South America
- Middle East & Africa: includes Turkey, UAE, Saudi Arabia, South Africa, and Rest of MEA
Asia Pacific is expected to hold the largest share of the global brake systems market. The market in Asia Pacific is predicted to expand as more modern safety electronic braking systems, such as ABS, ESC, and TCS, are used. Air disc brake production in the region is being driven by a rising collaboration between local and global players. For example, Haldex and FAST Group announced in April 2021 that they will form a joint venture to manufacture and distribute air disc brakes and aftermarket services for trucks and buses, with a major focus on the Chinese market. In addition, the market for brake systems is being driven by rising sales of premium and luxury vehicles in the region.
Key Market Segments: Brake System Market
Brake System Market by Technology, 2020-2029, (USD Million)
- Antilock Braking System
- Traction Control System
- Electronic Stability Control
- Electronic Brake Force Distribution
- Electronic Brake System
Brake System Market by Application, 2020-2029, (USD Million)
- Passenger Cars
- Commercial Vehicles
- Two Wheelers
- Trains
Brake System Market by Regions, 2020-2029, (USD Million)Â
- North America
- Europe
- Asia Pacific
- South America
- Middle East and Africa
Important Countries in All Regions Are Covered.
Key Question Answered
- What is the current scenario of the global brake system market?
- What are the emerging technologies for the development of brake system devices?
- What are the historical size and the present size of the market segments and their future potential?
- What are the major catalysts for the market and their impact during the short, medium, and long terms?
- What are the evolving opportunities for the players in the market?
- Which are the key regions from the investment perspective?
- What are the key strategies being adopted by the major players to up their market shares?
Table of Content
- Introduction
- Market Definition
- Market Segmentation
- Research Timelines
- Assumptions and Limitations
- Research Methodology
- Data Mining
- Secondary Research
- Primary Research
- Subject-Matter Experts’ Advice
- Quality Checks
- Final Review
- Data Triangulation
- Bottom-Up Approach
- Top-Down Approach
- Research Flow
- Data Sources
- Data Mining
- Executive Summary
- Market Overview
- Global Brake System Market Outlook
- Market Drivers
- Market Restraints
- Market Opportunities
- Impact of Covid-19 On Brake System Market
- Porter’s five forces model
- Threat from new entrants
- Threat from substitutes
- Bargaining power of suppliers
- Bargaining power of customers
- Degree of competition
- Industry value chain Analysis
- Global Brake System Market Outlook
- Global Brake System Market by Technology (USD Million)
- Antilock Braking System
- Traction Control System
- Electronic Stability Control
- Electronic Brake Force Distribution
- Electronic Brake System
- Global Brake System Market by Application (USD Million)
- Passenger Cars
- Commercial Vehicles
- Two Wheelers
- Trains
- Global Brake System Market by Region (USD Million)
- North America
- US
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Colombia
- Rest Of South America
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest Of Europe
- Asia Pacific
- India
- China
- Japan
- South Korea
- Australia
- South-East Asia
- Rest Of Asia Pacific
- Middle East and Africa
- UAE
- Saudi Arabia
- South Africa
- Rest Of Middle East and Africa
- North America
- Company Profiles* (Business Overview, Company Snapshot, Products Offered, Recent Developments)
-
-
- Robert Bosch GmbH.
- ZF Friedrichshafen AG
- Continental AG
- Aisin Seiki Co, Ltd
- Knorr-Bremse AG
- Brembo S.p.A
- ADVICS Co., Ltd. *The Company List Is Indicative
-
LIST OF TABLES
TABLE 1 Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â GLOBAL BRAKE SYSTEM MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 2 Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â GLOBAL BRAKE SYSTEM MARKET BY TECHNOLOGY (USD MILLIONS) 2020-2029
TABLE 3 Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â GLOBAL BRAKE SYSTEM MARKET BY REGION (USD MILLIONS) 2020-2029
TABLE 4 Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â US BRAKE SYSTEM MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 5 Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â US BRAKE SYSTEM MARKET BY TECHNOLOGY (USD MILLIONS) 2020-2029
TABLE 6 Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â CANADA BRAKE SYSTEM MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 7 Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â CANADA BRAKE SYSTEM MARKET BY TECHNOLOGY (USD MILLIONS) 2020-2029
TABLE 8 Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â MEXICO BRAKE SYSTEM MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 9 Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â MEXICO BRAKE SYSTEM MARKET BY TECHNOLOGY (USD MILLIONS) 2020-2029
TABLE 10Â Â Â Â Â Â Â Â Â Â Â Â Â BRAZIL BRAKE SYSTEM MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 11Â Â Â Â Â Â Â Â Â Â Â Â Â BRAZIL BRAKE SYSTEM MARKET BY TECHNOLOGY (USD MILLIONS) 2020-2029
TABLE 12Â Â Â Â Â Â Â Â Â Â Â Â Â ARGENTINA BRAKE SYSTEM MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 13Â Â Â Â Â Â Â Â Â Â Â Â Â ARGENTINA BRAKE SYSTEM MARKET BY TECHNOLOGY (USD MILLIONS) 2020-2029
TABLE 14Â Â Â Â Â Â Â Â Â Â Â Â Â COLOMBIA BRAKE SYSTEM MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 15Â Â Â Â Â Â Â Â Â Â Â Â Â COLOMBIA BRAKE SYSTEM MARKET BY TECHNOLOGY (USD MILLIONS) 2020-2029
TABLE 16Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF SOUTH AMERICA BRAKE SYSTEM MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 17Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF SOUTH AMERICA BRAKE SYSTEM MARKET BY TECHNOLOGY (USD MILLIONS) 2020-2029
TABLE 18Â Â Â Â Â Â Â Â Â Â Â Â Â INDIA BRAKE SYSTEM MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 19Â Â Â Â Â Â Â Â Â Â Â Â Â INDIA BRAKE SYSTEM MARKET BY TECHNOLOGY (USD MILLIONS) 2020-2029
TABLE 20Â Â Â Â Â Â Â Â Â Â Â Â Â CHINA BRAKE SYSTEM MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 21Â Â Â Â Â Â Â Â Â Â Â Â Â CHINA BRAKE SYSTEM MARKET BY TECHNOLOGY (USD MILLIONS) 2020-2029
TABLE 22Â Â Â Â Â Â Â Â Â Â Â Â Â JAPAN BRAKE SYSTEM MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 23Â Â Â Â Â Â Â Â Â Â Â Â Â JAPAN BRAKE SYSTEM MARKET BY TECHNOLOGY (USD MILLIONS) 2020-2029
TABLE 24Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH KOREA BRAKE SYSTEM MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 25Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH KOREA BRAKE SYSTEM MARKET BY TECHNOLOGY (USD MILLIONS) 2020-2029
TABLE 26Â Â Â Â Â Â Â Â Â Â Â Â Â AUSTRALIA BRAKE SYSTEM MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 27Â Â Â Â Â Â Â Â Â Â Â Â Â AUSTRALIA BRAKE SYSTEM MARKET BY TECHNOLOGY (USD MILLIONS) 2020-2029
TABLE 28Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH-EAST ASIA BRAKE SYSTEM MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 29Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH-EAST ASIA BRAKE SYSTEM MARKET BY TECHNOLOGY (USD MILLIONS) 2020-2029
TABLE 30Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF ASIA PACIFIC BRAKE SYSTEM MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 31Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF ASIA PACIFIC BRAKE SYSTEM MARKET BY TECHNOLOGY (USD MILLIONS) 2020-2029
TABLE 32Â Â Â Â Â Â Â Â Â Â Â Â Â GERMANY BRAKE SYSTEM MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 33Â Â Â Â Â Â Â Â Â Â Â Â Â GERMANY BRAKE SYSTEM MARKET BY TECHNOLOGY (USD MILLIONS) 2020-2029
TABLE 34Â Â Â Â Â Â Â Â Â Â Â Â Â UK BRAKE SYSTEM MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 35Â Â Â Â Â Â Â Â Â Â Â Â Â UK BRAKE SYSTEM MARKET BY TECHNOLOGY (USD MILLIONS) 2020-2029
TABLE 36Â Â Â Â Â Â Â Â Â Â Â Â Â FRANCE BRAKE SYSTEM MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 37Â Â Â Â Â Â Â Â Â Â Â Â Â FRANCE BRAKE SYSTEM MARKET BY TECHNOLOGY (USD MILLIONS) 2020-2029
TABLE 38Â Â Â Â Â Â Â Â Â Â Â Â Â ITALY BRAKE SYSTEM MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 39Â Â Â Â Â Â Â Â Â Â Â Â Â ITALY BRAKE SYSTEM MARKET BY TECHNOLOGY (USD MILLIONS) 2020-2029
TABLE 40Â Â Â Â Â Â Â Â Â Â Â Â Â SPAIN BRAKE SYSTEM MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 41Â Â Â Â Â Â Â Â Â Â Â Â Â SPAIN BRAKE SYSTEM MARKET BY TECHNOLOGY (USD MILLIONS) 2020-2029
TABLE 42Â Â Â Â Â Â Â Â Â Â Â Â Â RUSSIA BRAKE SYSTEM MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 43Â Â Â Â Â Â Â Â Â Â Â Â Â RUSSIA BRAKE SYSTEM MARKET BY TECHNOLOGY (USD MILLIONS) 2020-2029
TABLE 44Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF EUROPE BRAKE SYSTEM MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 45Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF EUROPE BRAKE SYSTEM MARKET BY TECHNOLOGY (USD MILLIONS) 2020-2029
TABLE 46Â Â Â Â Â Â Â Â Â Â Â Â Â UAE BRAKE SYSTEM MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 47Â Â Â Â Â Â Â Â Â Â Â Â Â UAE BRAKE SYSTEM MARKET BY TECHNOLOGY (USD MILLIONS) 2020-2029
TABLE 48Â Â Â Â Â Â Â Â Â Â Â Â Â SAUDI ARABIA BRAKE SYSTEM MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 49Â Â Â Â Â Â Â Â Â Â Â Â Â SAUDI ARABIA BRAKE SYSTEM MARKET BY TECHNOLOGY (USD MILLIONS) 2020-2029
TABLE 50Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH AFRICA BRAKE SYSTEM MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 51Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH AFRICA BRAKE SYSTEM MARKET BY TECHNOLOGY (USD MILLIONS) 2020-2029
TABLE 52Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF MIDDLE EAST AND AFRICA BRAKE SYSTEM MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 53Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF MIDDLE EAST AND AFRICA BRAKE SYSTEM MARKET BY TECHNOLOGY (USD MILLIONS) 2020-2029
LIST OF FIGURES
FIGURE 1Â Â Â Â Â Â Â MARKET DYNAMICS
FIGURE 2Â Â Â Â Â Â Â MARKET SEGMENTATION
FIGURE 3Â Â Â Â Â Â Â REPORT TIMELINES: YEARS CONSIDERED
FIGURE 4Â Â Â Â Â Â Â DATA TRIANGULATION
FIGURE 5Â Â Â Â Â Â Â BOTTOM-UP APPROACH
FIGURE 6Â Â Â Â Â Â Â TOP-DOWN APPROACH
FIGURE 7Â Â Â Â Â Â Â RESEARCH FLOW
FIGURE 8Â Â Â Â Â Â Â GLOBAL BRAKE SYSTEM MARKET BY TECHNOLOGY, USD MILLION, 2020-2029
FIGURE 9Â Â Â Â Â Â Â GLOBAL BRAKE SYSTEM MARKET BY APPLICATION, USD MILLION, 2020-2029
FIGURE 10Â Â Â Â Â GLOBAL BRAKE SYSTEM MARKET BY REGION, USD MILLION, 2020-2029
FIGURE 11     PORTER’S FIVE FORCES MODEL
FIGURE 12Â Â Â Â Â NORTH AMERICA BRAKE SYSTEM MARKET SNAPSHOT
FIGURE 13Â Â Â Â Â EUROPE BRAKE SYSTEM MARKET SNAPSHOT
FIGURE 14Â Â Â Â Â ASIA PACIFIC BRAKE SYSTEM MARKET SNAPSHOT
FIGURE 15Â Â Â Â Â SOUTH AMERICA BRAKE SYSTEM MARKET SNAPSHOT
FIGURE 16Â Â Â Â Â MIDDLE EAST & AFRICA BRAKE SYSTEM MARKET SNAPSHOT
FIGURE 17Â Â Â Â Â ROBERT BOSCH GMBH: COMPANY SNAPSHOT
FIGURE 18Â Â Â Â Â ZF FRIEDRICHSHAFEN AG: COMPANY SNAPSHOT
FIGURE 19Â Â Â Â Â CONTINENTAL AG COMPANY: COMPANY SNAPSHOT
FIGURE 20Â Â Â Â Â AISIN SEIKI CO, LTD: COMPANY SNAPSHOT
FIGURE 21Â Â Â Â Â AISIN SEIKI CO, LTD: COMPANY SNAPSHOT
FIGURE 22Â Â Â Â Â KNORR-BREMSE AG: COMPANY SNAPSHOT
FIGURE 23Â Â Â Â Â BREMBO S.P.A: COMPANY SNAPSHOT
FIGURE 24Â Â Â Â Â ADVICS CO., LTD: COMPANY SNAPSHOT
FAQ
The global brake system market is projected to reach USD 29 billion by 2029 from USD 19.33 billion in 2020, at a CAGR of 4.5% from 2022 to 2029 due to the increased production and sales of commercial vehicles which have a direct impact on the brake system industry.
Asia Pacific will account for 43% share. The market in Asia Pacific is predicted to expand as more modern safety electronic braking systems, such as ABS, ESC, and TCS, are used.
Firms are adopting and deploying active safety technologies in commercial vehicles, such as advanced driver assist systems (ADAS) which will drive the market.
The global brake system market registered a CAGR of 4.5% from 2022 to 2029.
Asia Pacific is the largest market for brake system market
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