The automotive brake system market is projected to grow from an estimated USD 23.45 billion in 2023 to USD 30.10 billion by 2028 at a CAGR of 5.1% during the forecast period.
The automotive brake system market growth is mainly driven by the regulations on stopping distance and safety standards in countries such as China, India, Brazil, the European Union, the US, and Canada, among others. Further, growing demand for luxury cars worldwide and country-wise car assessment programs would boost the demand for electronic and disc brake systems. The growing adoption of disc brakes in heavy commercial vehicles, especially trucks, is another driving factor for the automotive brakes market.
Anti-lock Brake Systems (ABS) is the largest technology segment during the forecast period.
ABS will hold the largest share of the automotive electronic brake system market during the forecast period. Most governments have mandated ABS for light-duty or heavy-duty vehicles or both, considering the benefits offered by ABS. Also, according to the NHTSA, ABS is quite effective in non-fatal crashes, reducing the overall crash involvement rate by 6% in passenger cars and 8% in LCVs. For light-duty vehicles, ABS is already mandated in the US, Europe, Brazil, Japan, South Korea, and other countries. ABS penetration in Asia and other developing countries is comparatively lower; however, factors such as – OEMs’ focus on NCAP rating to showcase their product build quality and upcoming mandates emphasizing enhanced safety features – will direct the growth of ABS in light-duty vehicles.
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Disc Brakes will account for the largest and fastest-growing market by 2028.
Disc brakes have gained popularity mainly in light-duty vehicles as they are more efficient, provide better stopping power, dissipate heat efficiently, self-adjust as the friction material wears, and work effectively in wet conditions. Today, most passenger cars and LCVs have disc brakes on the front wheels. The developing countries of Asia Pacific are dominated by economic cars equipped with disc brakes on the front wheels and drum brakes at the rear. This is mainly due to the lower speed limits and leniency in stopping distance in Asia Pacific countries. However, Class C & above are usually offered with all four disc brakes. Further, most of today’s passenger cars in Europe and North America are equipped with disc brakes on all four wheels as the demand for luxury vehicles is higher with higher power delivering higher speeds. Only some basic models have a disc brake on the front and drum brakes on the rear. Also, the OEMs are expanding their manufacturing plant to cater to the increased demand for disc brakes in the vehicles. For instance, Cummins Drivetrain and Braking Systems (CDBS) (US) had invested over USD 190 million to boost production capacity for air disc brakes (ADBs) and rear axles due to increasing demand and an anticipated increase for purchase in 2025 and 2026. This investment is driven by the industry’s shift towards ADBs, which offer enhanced stopping power and safety, with adoption expected to exceed 70% on Class 8 trucks in North America.
The Asia Pacific will be the leading automotive brake system market over the forecast period.
The growth of the Asia Pacific automotive brake system market can be primarily attributed to upcoming advancements in automotive brake systems and expansions made by brake system manufacturers to cope with the increasing demand for disc brakes in passenger cars and light commercial vehicles. China, Japan, South Korea, and India dominate the Asia-Pacific automotive brake system market. Most of the cars sold in the Asia Pacific region are economy or mid-economy cars which are equipped with a disc and drum brake combination. Similarly, the majority of the heavy trucks in this region are equipped with drum brake systems. Hence, the drum brakes still have a good potential market in the Asia Pacific region. However, growing consumer preference from countries like China, Japan, India, and South Korea towards SUV cars with disc brakes will drive the demand for disc brakes.
Key Players
The automotive brake system market is dominated by globally established players such as Robert Bosch GmbH (Germany), ZF Friedrichshafen AG (Germany), Continental AG (Germany), AISIN Seiki Co, Ltd. (Japan), Knorr-Bremse AG (Germany), and Brembo S.p.A (Italy), ADVICS Co., Ltd. (Japan).
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