Automotive Brake Systems Global Market Report 2022
Jul 19, 2023
Major players in the automotive brake systems market are Advics Co Ltd, Aisin Seiki Co Ltd, Akebono Brake Industry Co. Ltd. , Brembo SpA, Continental AG, Hitachi Automotive Systems, Robert Bosch GMBH, ZF Friedrichshafen AG, Delphi Technologies, Denso Corporation, Disc Brakes Australia (DBA), Haldex, Halla Mando Corp, Knorr-Bremse AG, Nissin Kogyo Co Ltd, and TVS Brake Linings Co.
New York, Oct. 07, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Automotive Brake Systems Global Market Report 2022" - https://www.reportlinker.com/p06325419/?utm_source=GNW The global automotive brake system market is expected to grow from $30.16 billion in 2021 to $32.83 billion in 2022 at a compound annual growth rate (CAGR) of 8.8%. The automotive brake system market is expected to reach $41.78 billion in 2026 at a CAGR of 6.2%.The automotive brake systems market consists of sales of automotive brake system products by entities (organizations, sole proprietors, and partnerships) that refers to a system that focuses on slowing down or bringing a vehicle to a halt.It works based on friction as they create resistance to the movement by exerting two objects against each other.Automatic braking systems prevent a vehicle from skidding and help restore traction tires; they also prevent the vehicle’s wheels from locking up and avoid accidents.The main types of automotive brake systems are disc brakes and drum brakes.The disc brakes are used in automotive for less brake fade to offer better performance in wet conditions.These brakes use a brake calliper, metal rotor, and brake pads to stop the vehicle.The varoius types of technologies in automotive brake systems include antilock braking systems (ABS), electronic stability control (ESC), traction stability control (TCS), and electronic brakeforce distribution (EBD) that are sold or distributed through original equipment manufacturers (OEM) and aftermarket.The automotive brake systems are suitable for passenger cars, light commercial vehicles (LCV), trucks, and buses.Asia-Pacific was the largest region in the automotive brake system market in 2021. The regions covered in the automotive brake system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.The automotive brake systems market research report is one of a series of new reports that provides Automotive brake systems market statistics, including automotive brake systems industry global market size, regional shares, competitors with an automotive brake systems market share, detailed automotive brake systems market segments, market trends and opportunities, and any further data you may need to thrive in the automotive brake systems industry. This automotive brake systems market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.The rising demand for passenger and commercial vehicles is expected to drive the automotive brake systems market.Rapid growth in disposable income among individuals in both developing and developed countries and growing demand for a personal vehicle for daily commute to work has contributed to rapid growth in demand for passenger and commercial vehicles.The rapid growth in demand for passenger and commercial vehicles is expected to the boost utilization of automotive brake systems, as they are a vital component in the manufacturing of automotive vehicles.For Instance, In June 2021, according to a report from OICA (International Organization of Motor Vehicle Manufacturers), global passenger car sales increased from 53 million in 2020 to 56 million.Similarly, commercial vehicle sales increased from 24 million in 2020 to 26 million in 2021. Therefore, the increased demand for passenger and commercial vehicles is expected to boost demand for automotive brake systems during the forecast period.The new brake technology is a key trend gaining populairty in the automotive brake systems market.The advanced braking system technology such as multi-collision brake systems with instant collision recognition and automatic braking is being installed in vehicles, significantly reducing the danger of secondary accidents.This advanced brake system gives the ability to slow down or stop in an instant to avoid a severe accident.For instance, In April 2021, Germany-based ZF Friedrichshafen, a technology company that supplies systems for passenger cars, commercial vehicles, and industrial technology, launched OnGuardMAX, its advanced autonomous emergency braking system for commercial vehicles in China.It detects, classifies, and reacts autonomously to moving and stationary vehicles, motorcycles, bicycles, and pedestrians. A high-performance image processing module assists this technology with an advanced radar sensor and high-resolution dual-lens camera.In November 2021, Brembo S.p.A, an Italy-based manufacturer of automotive brake systems, acquired J.Juan for an amount of USD 78 million. With this acquisition, the group will complete its range of motorcycle braking system solutions and expand its brand family for the growing motorcycle sector. J.Juan is a Spain-based company involved in developing and manufacturing of motorbike braking systems.The countries covered in the automotive brake system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.Read the full report: https://www.reportlinker.com/p06325419/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. 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