Automotive Brakes Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025

  • Single User License $3500

Automotive Brakes Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025

Status : September, 2021 | Semiconductor & Electronics

Report Digest


Global Automotive Brakes Market: Snapshot

Brakes are central in the safe operation of a motor vehicle. Without the ability to stop or slow down our vehicles, accidents would be a fairly common phenomena across the world. The design of the automotive braking system has evolved overtime, and modern day automobiles feature emergency brakes, parking brakes, and service brakes. A typical automobile braking system includes a piston, rotor, brake pads, caliper, brake shoes, brake drum, vacuum servo or brake booster, and master cylinder. Proper maintenance of these components is essential for the efficient working of the automobile brakes. Brake failure can be avoided by the prevention of corrosion, sticking, and piston failure.

As the hydraulic and mechanical systems are increasingly being replaced by electronic systems in automobiles, the global market for automotive brakes is slated for a sturdy growth over the oncoming period. The rapid expansion of the automotive industry across Asia Pacific in particular has been another key growth driver of the global automotive brakes market. Several leading car manufacturers are focusing on superior consumer experience via improved safety and comfort facilities. Therefore, they have been developing and installing highly efficient automotive brakes.

Several automotive brake manufacturers are also addressing the control of noise, vibration, and harshness (NVH) in their braking technologies. They have been creating friction formulations that are top-of-the-line as well as shim technology in order to soften the frequencies of vibration and sound arising from braking. The leading companies operating in the global market for automotive brakes have been assessed in detail in the report, wherein their key product portfolios and business strategies have been discussed. 

Global Automotive Brakes Market: Synopsis

The global automotive brakes market is anticipated to grow at a rapid rate with the augmenting concern of vehicle safety. The functions of automotive brakes are chiefly related to causing a vehicle to come to a complete stop and helping it to slow down. During the process, the design of automotive brakes allows the transformation from kinetic energy to heat energy to take place. The two main functions of automotive brakes are evident in the usage of parking brakes and service brakes. While service brakes are used to stop a vehicle when in motion, parking brakes can hold the vehicle when it is parked. With a range of sophisticated, economical, and present-day brake system technologies prevailing in the automotive brake system market, the automotive sector has emerged as a vital contributor to the world economy.

Global Automotive Brakes Market: Trends and Prospects

Besides the worldwide worry about safety of vehicles and passengers, the constant dwindling of automobile maintenance lifecycle is expected to add to the growth of the global automotive brakes market. One of the reasons that the vehicle maintenance lifecycle is witnessing a low globally is the rising length of trips in both intra-city and inter-city applications. The market is also predicted to take massive leaps on the back of the unplanned growth rates of M&HCVs, LCVs, two-wheeled and three-wheeled vehicles, and passenger automobiles. Moreover, strict policies of governments regarding safety and emissions could help the market to advance significantly.

Global Automotive Brakes Market: Challenges and Opportunities

The international automotive brakes market could be challenged by the growing concern about the effects of the automobile sector on the environment with technologies such as heavy braking systems which hold an augmented level of carbon dioxide emission. Another major hurdle in the growth path could be the peculiar type of maintenance required by electronically assisted brakes and unsettling prices of raw materials.

In this regard, the adoption of regenerative brakes and compact and light braking systems is envisaged to compensate for the challenges of the global automotive brakes market. The bright future of the global market is foreseen to be in the hands of vendors adopting the escalating evolution of the brake energy recuperation system. The demand for lighter and efficient designs and elevating number of vehicle safety regulations are also foretold to lift up the market growth.

Manufacturers leveraging the lucrative benefits of e-retailing of automotive brakes through e-commerce giants such as Amazon and eBay are making customers happy with the providence of low cost and convenience. Advancement in technologies such as electronic stability control (ESC) has been a key opportunity for marketers in the automotive brakes industry.

Global Automotive Brakes Market: Regional Analysis

With the availability of a good amount of manpower, the Asia Pacific segment is envisaged to exhibit strong growth in the global automotive brakes market. North America, however, continues as the leading segment on the manufacturing basis. Among others, the important companies studied in the report are Akebono Brake Industry Co., Ltd., Robert Bosch GmbH, Accuride Corporation, Hyundai Mobis Co., Ltd., Aisin Seiki Co., Automotive Components Europe S.A., Nissin Kogyo Co., Ltd., Continental AG, Zhejiang Asia-Pacific Mechanical & Electronical Co., Ltd., TMD Friction Group S.A, Knorr - Bremse AG, Halla Mando Corporation, and Federal-Mogul Corporation.

The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.

TMR Research is a leader in developing well-researched reports. The expertise of the researchers at TMR Research makes the report stand out from others. TMR Research reports help the stakeholders and CXOs make impactful decisions through a unique blend of innovation and analytical thinking. The use of innovation and analytical thinking while structuring a report assures complete and ideal information of the current status of the market to the stakeholders.

TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.

5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?