GVR Report cover Automotive Brake System Market Size, Share & Trends Report

Automotive Brake System Market Size, Share & Trends Analysis Report By Type (Disc Brake & Drum Brake), By Vehicle Type (Passenger Cars, Commercial Vehicles), By Technology, By Region, And Segment Forecasts, 2022 - 2030

  • Report ID: GVR-2-68038-214-3
  • Number of Pages: 120
  • Format: Electronic (PDF)
  • Historical Range: 2018 - 2020
  • Industry: Technology

Report Overview

The global automotive brake system market size was valued at USD 45.60 billion in 2021 and is projected to expand by a compound annual growth rate (CAGR) of 5.4% from 2022 to 2030. The market for automotive brake systems is expected to rise significantly, owing to increased demand for passenger and commercial vehicles in countries such as India and China. In addition, factors such as the implementation of strict safety standards, the adoption of luxury automobiles, and increased adoption of the disc brakes in commercial vehicles are further propelling the market growth. Also, the lifespan of brake components is restricted to a specific number of kilometers, which is boosting the replacement market.

U.S. automotive brake system market size, by vehicle type, 2020 - 2030 (USD Billion)

In addition, concerns about road traffic collisions and the rising number of fatalities have prompted participants to incorporate robust safety systems. The automobile brake system market will continue to grow owing to the stringent safety rules imposed by the regulatory organizations and governments. From 2022, the National Highway Traffic Safety Administration (NHTSA), a division of the U.S. transportation department is planning to make automatic emergency braking mandatory in vehicles

Moreover, the market participants' involvement in the introduction of new and improved systems, as well as the development of R&D dedicated to the launch of new technologies, are the factors contributing to the market growth during the forecast period. On the other hand, the increasing adoption of electric cars and the rising focus on autonomous vehicles are expected to boost the commercial growth potential of the manufacturing companies in near future.

The sudden emergence of COVID-19  disrupted the entire global automotive industry supply chain. The subsequent shut down of assembly factories resulted in manufacturing disruption and halted the export of Chinese components. In addition to this, the global travel prohibitions enforced by European, Asian, and North American governments have disrupted the commercial collaboration and partnership chances.

The pandemic restricted the movement of the people from one place to another. Moreover, due to the restrictions of the limited workforce at the production site, the automotive brake system market was also affected from the supply side. With the lifting up of lockdown the market has begun to gain momentum. The automotive brake market is expected to grow significantly during the forecast period, as the manufacturers are focusing on innovative technologies such as regenerative braking and ABS.

Brakes have become an important and crucial part of any vehicle to ensure safety when the demand for speed is increasing consistently. However, the automotive brake system market is now making leaps of technical advancement, pertaining to increasing safety concerns and government regulation. For instance, the Government of India has mandated the advanced braking system in all large vehicles.

Similarly, the National Highway Traffic System Administration (NHTSA) and the Insurance Institute of Highway Safety, along with 20 major vehicle manufacturers, have committed to making Automatic Emergency Braking (AEB) a standard feature in all new automobiles starting from September 2022. In addition, innovation and development in the Advanced Driver Assistance Systems (ADAS) will drive the market owing to the expenditures in Level 4 and Level 5 autonomous cars.

The Level 4 and Level 5 autonomous vehicle requires some human interaction to function. Hence, for safe and secure functioning, technologically advanced braking systems will be an essential part of an autonomous vehicle.

Automobile makers are always developing new and better products to make driving more fun while still remaining safe. Market players such as ZF Friedrichshafen AG, Advics Co. Ltd., Haldex, and Web co among others are regularly designing electronic stability control, anti-collision technologies, and advanced anti-lock braking systems in order to create better and safer automobiles. For instance, Continental AG developed a third-generation anti-lock braking system (ABS) that adjusts the vehicle speeds and at the same time provides safer, more regulated, and optimum braking performance.

Recent advancements in vehicle technology, as well as aerodynamic design, have enabled more efficient utilization of engine power to achieve faster speeds. Furthermore, advanced braking systems are emerging such as Electronic Stability Control (ESC), Traction Control (TC), and Electronic Brake Force Distribution (EBD).  Manufacturers across the world are investing in R&D to bring out state-of-the-art technology. This indicates a potential for the manufacturers and vendors to grow throughout the forecast period.

There are a number of constraints and roadblocks that will impede overall market expansion. The electronic braking systems' expensive research, as well as their high installation and maintenance costs, are constraining market expansion. Nonetheless, technological advancements, such as regenerative braking and the advent of the brake-by-wire system as well as untapped potential in emerging countries offer growth opportunities. Moreover,  high repair and maintenance costs for technologically advanced brakes are anticipated to hinder the growth of the automotive brake system market.

Product Type Insights

The automotive brake system market based on type is segmented into drum brakes and disc brakes. The disc brake segment held the highest market share of 60.46% in 2021 and is anticipated to develop by a CAGR of 6.5% during the forecast period.

In recent years, the application of disc brakes has grown largely. The growth of disc brakes is attributed to their capacity to work in adverse weather without overheating or fading. Additionally, its compatibility with other advanced systems is further propelling the growth of the disc brake segment.

Drum brakes have an enclosed design and employ circular components (brake shoe) to provide the necessary friction for lowering speed, whereas disc brakes use a narrow rotor and caliper to stop wheel movement. As a result, performance suffers. Although disc-based systems have more braking power than drum-based systems, automakers choose drums because they are more cost-effective.

Vehicle Insights

The automotive brake system market based on the vehicle is segmented into commercial vehicles and passenger cars. Passenger car holds the major market share and is expected to expand by a 5.7% CAGR during the forecast period. Passenger cars are increasing owing to the increase in population, disposable income, and urbanization.

For more safety features, the manufacturers tend to develop a braking system with more efficiency. The ADAS is the most important element influencing the passenger car's primary market share and growth. Furthermore, growing expenditures in ADAS are expected to have an influence on the brake systems market due to an increase in the requirement for electromagnetic induction braking systems in automobiles, motorcycles, and other vehicles during the forecast period.

Similarly, many manufacturers are developing different variants of the braking system aimed at offering increased braking power in multiple terrain types. The manufacturers are prioritizing reducing the weight of the brake system which has led to the development of high-performance, lighter braking systems in the market.

Technology Insight

The automotive brake system market based on technology is segmented into antilock brake systems (ABS), traction control systems, electronic stability control, and electronic brake-force distribution. The ABS segment held the highest market share of 32.5% in 2021. The growth of ABS technology is due to the aggressive efforts of several automobile groups toward the mandated deployment of ABS in key regions. Similarly, because of its perceived benefits in regaining vehicle control in an emergency, electronic stability control technology is becoming more widely adopted. Therefore, it is expected to drive the growth of the automotive brake system market during  the forecast period.

Global automotive brake system market share, by technology, 2021 (%)

The Traction Control System segment is expected to expand at a CAGR of 6.5% during the forecast period. The TCS technology provides added safety by ensuring traction in difficult driving conditions. TCS are generally used with an anti-lock braking system for efficient working. Traction control stops the wheel spin by applying brake pressure by ABS and controlling the throttle. These systems are mandatory in U.S. consumer vehicles since 2012. As a result, automakers would be able to acquire a better new car assessment program (NCAP) rating for a car by including advanced braking systems.

Regional Insights

In the automotive brake system market, Asia- Pacific held the highest market share in 2021 owing to the availability of low-cost labor and raw materials, firms in the region offer significant cost savings. Furthermore, countries such as China, and India, among others are the automotive manufacturing hub. The rising popularity of automotive brake systems, as well as an increase in the sales of luxury and premium automobiles is expected to drive the market growth. Moreover, the increasing number of accidents and the surge in the number of automobiles is contributing to the overall market growth.

North America is expected to increase at a CAGR of 5.6% due to the growing desire for better performance of vehicles in adverse weather, the presence of major car manufacturers, and growth in the supply of light commercial vehicles and passenger cars has driven the expansion of the market in this region. Furthermore, since 2018, the mandated installation of ESC technology in all light cars has driven the regional market growth.

Key Companies & Market Share Insights

The firms are largely concerned with producing environmentally friendly, dependable, and durable braking systems. These players invest heavily in research and development to innovate new technologies for the braking systems.  

To increase their market share and ensure healthy growth, the major companies have made significant expenditures in research and development. Furthermore, they are aggressively working to expand its geographical footprint and increase its production capabilities. For instance, In April 2020, Veoneer announced an initial agreement to transfer its braking control business in the United States to ZF Friedrichshafen AG for global market development.

Many players are also entering the aftermarket of the automotive brake system. The brake system aftermarket has opened lucrative avenues for market growth around the world. For instance, Ferdinand Bilstein GmbH Co. KG is a renowned aftermarket part supplier in more than  170 countries, worldwide. The company offers top-quality commercial vehicle brake components based on various requirements and loads of the vehicles. The company is boosting the highest coverage of brake disc and brake pads holding a market share of 97.0% of the independent aftermarket. 

Some of the prominent players in the global automotive brake system market include:

  • Advics Co. Ltd.

  • ZF Friedrichshafen AG

  • Akebono Brake Industry Co.

  • Hitachi Automotive System

  • Brembo SpA

  • Robert Bosch GmbH

  • Aisin Seiki Co.Ltd.

  • Haldex

  • Web co

  • Nissin Kogyo Co. Ltd.

Automotive Brake System Market Report Scope

Report Attribute

Details

Market size value in 2022

USD 47.75 billion

Revenue forecast in 2030

USD 72.70 billion

Growth Rate

CAGR of 5.4 % from 2022 to 2030

Base year for estimation

2021

Actual estimates/Historical data

2018 - 2020

Forecast period

2022 - 2030

Quantitative Units

Revenue in USD billion, CAGR from 2022-2030

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors,  trends

Segments covered

Product type, vehicle, technology, region

Regional scope

North America, Europe, Asia Pacific, Latin America, Middle East &  Africa

Country scope

U.S., Canada, U.K., Germany, China, India, Japan, Brazil, Mexico

Key Company Profiled

Advics Co. Ltd.; ZF Friedrichshafen AG; Akebono Brake Industry Co.; Hitachi Automotive System; Brembo SpA ;Robert Bosch GmbH ;Aisin Seiki Co.Ltd.;Haldex;

Web co; Nissin Kogyo Co. Ltd.

Customization scope

Revenue forecast, company ranking, competitive landscape, growth factors,  trends

Pricing and purchase options

 Avail customized purchase options to meet your exact research needs. Explore purchase options.


Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and analyzes industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global Automotive Brake System Market report based on the product, vehicle, technology, and region:

  • Product  Outlook (Revenue, USD Billion; 2018 - 2030)

    • Disc Brake

    • Drum Brake

  • Vehicle  Outlook (Revenue, USD Billion; 2018 - 2030)

    • Passenger Cars

    • Commercial Vehicles

  • Technology  Outlook (Revenue, USD Billion; 2018 - 2030)

    • Anti- lock Brake System (ABS)

    • Traction Control System (TCS)

    • Electronic Stability Control (ESC)

    • Electronic Brake- force Distribution (EBD)

  • Regional Outlook (Revenue, USD Billion; 2018 - 2030)

    • North America

      • U.S.

      • Canada

    • Europe

      • U.K.

      • Germany

    • Asia Pacific

      • China

      • Japan

      • India

    • Latin America

      • Brazil

      • Mexico

    • Middle East & Africa

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