Automotive Brake Parts Market Scope
The brake is a type of device for slowing or stopping motion, as of a vehicle, especially by contact friction. The braking mechanism is of the most important function of a vehicle. A faulty braking system can result in an incredibly dangerous situation if a driver needs to stop a vehicle immediately. This is why every vehicle owner should periodically check the brakes of his car, and make sure he understands the components and how they function to ensure the mechanism will work in the event of an emergency.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | AISIN SEIKI (Japan), Bosch (Germany), Continental (Germany), Magna International (Canada), Magneti Marelli (Italy), DENSO (Japan), FTE automotive (Germany), Cardone Industries Inc. (United States) and Federal-Mogul (United States) |
CAGR | % |
Research Analyst at AMA estimates that Japanese Vendors will contribute to the maximum growth of Global Automotive Brake Parts market throughout the predicted period.
AISIN SEIKI (Japan), Bosch (Germany), Continental (Germany), Magna International (Canada), Magneti Marelli (Italy), DENSO (Japan), FTE automotive (Germany), Cardone Industries Inc. (United States) and Federal-Mogul (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are GKN (United Kingdom), The Marmon Group (United States), Haldex (Sweden), Kyung Chang Industrial (South Korea), Inzi Controls (South Korea), Knorr-Bremse (Germany), NOK (Japan), Dongfeng Electronic Technology Co., Ltd. (DETC) (China), Hitachi (Japan), NHK Spring (Japan), ADVICS (Japan), Nisshinbo Holdings (Japan), CIE Automotive (Spain), Trelleborg (Sweden), Brembo (Italy) and Nabtesco (Japan).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Automotive Brake Parts market by Type , by Application (Passenger Cars and Commercial Vehicles) and Region with country level break-up.
On the basis of geography, the market of Automotive Brake Parts has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
On 11 September 2018, the technology company Continental has significantly expanded its range of brake discs for Mercedes-Benz models. The quality of the new disc brakes is comparable to that of OE products. Independent workshops now have an economical product that is comparable with the premium brand for the patented two-part OE brake disc concept – and for even more vehicles.
On 19 Sept 2018, Haldex unveiled open, scalable brake solutions for autonomous and electrical commercial vehicles.
Influencing Trend:
Growing Automotive Industry Worldwide
Market Growth Drivers:
Stringent Government Regulations towards Safety and Security and Rising Need for Aftermarket Braking System Replacement
Challenges:
High Cost of Development and Maintenance of Advanced Barking technology
Restraints:
The Availability of Counterfeit Brake Parts
Opportunities:
The Growth Opportunities from Developing Countries
Key Target Audience
Automotive Brake Parts Manufacturers, Automotive Brake Parts Sub Component Manufacturers, Automotive Brake Parts Traders/Distributors, Automotive Brake Parts Importer/Exporter, Industry Associations, End Users and Others