About Automotive Brake
A brake is a mechanical device which inhibits motion, slowing or stopping a moving object or preventing its motion. The function of the brake system is to make the driving car decelerate. The stopped car park stably under various road conditions (including on the ramp); make the car speed downhill keep it steady. At present, domestic automobile manufacturers use more front and rear drum brake systems on small and medium-sized finished commercial vehicles, and some models use four-wheel disc brakes. Compared with drum brakes, disc brakes are more technologically advanced, Lighter weight, better heat dissipation performance, braking performance, and adaptability to complex weather and road conditions.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 4.85% |
Competition among existing players is due to the Automotive Brake market share occupied by leading players. The industry leader is engaged in offering innovative and superior quality products to cater to the ever-growing demand for Automotive Brake market. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage. Analyst at AMA Research estimates that Global Vendors will contribute the maximum growth to Global Automotive Brake market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
ZF (Germany), Aisin (Japan), Akebono Brake Industry (Japan), CBI (India), Continental AG (United States), Nissin Kogyo (Japan), Mando (South Korea), APG (France), Knorr-Bremse (India), Wabco (United States), XinYi (China) and Shandong Aoyou (China) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Bosch Mobility Solution (India), Brembo SpA (Italy) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Automotive Brake market by Type (Disc Brakes and Drum Brakes), Application (Light Commercial Vehicle, Medium Commercial Vehicle and Heavy Commercial Vehicle) and Region.
On the basis of geography, the market of Automotive Brake 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). If we see Market by Braking Systems, the sub-segment i.e. Hydraulic Braking System will boost the Automotive Brake market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution Channel, the sub-segment i.e. OEM will boost the Automotive Brake market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing adoption of ABS passenger cars.
Market Growth Drivers:
Advanced brake systems such as ABS and EBD to enhance vehicle safety. and Growing demand for electric and hybrid vehicles.
Challenges:
Incorrect tire pressure or unequal tires. and Restricted brake hose.
Restraints:
Increasing adoption of modern vehicle. and High development and maintenance cost of advanced braking technology.
Opportunities:
Government regulation to make advanced emergency braking system mandatory. and Technological advancement in brake system.
Market Leaders and their expansionary development strategies
In June 2023, PureForge Brakes System, acquired the engineering services division of Pontiac, Michigan based PMD Automotive LLC. This acquisition of PMD Automotive Engineering Services is the first strategic bolt-on step allowing the execution of the vision of PureForge Brake Systems’ technical development and manufacturing processes. This acquisition creates a highly dynamic development engineering culture for PureForge Brakes systems.
In October 2023, Brembo, a world leader and innovator in automotive brake technology, launched a new aftermarket pads strategy with the world premiere of the latest in braking technology, at the Automotive Aftermarket Products Expo (AAPEX) & Specialty Equipment Market Association (SEMA).
Key Target Audience
Manufacturers Suppliers and Distributors, Venture Capitalists and Private Equity Firms, New Entrants/Investors, Strategic Business Planners, Government Regulatory, Research Organizations, End-Use Industries and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.