Brake System Market - Forecast(2021 - 2026)

Report Code: ATR 0079 Report Format: PDF + Excel (Delivery in 48 Hrs)
The Brake System Market is forecast to reach XX million by 2025, growing at a CAGR of XX% in the period 2019-2025.Advacements in automotive brake industry due to the increasing number of road accidents had increased the demand of brake system market. Moreover the Anti-Locking Brake system is widely used on passenger cars and heavy commercial vehicles with a regular braking system which works automatically by pumping them to allow the drivers to maintain steering control while avoiding obstacles and thereby avoiding accidents. Moreover, according to World Health Organization (WHO) approximately 1.35 million people die every year as a result of road accidents leading to economic losses to individuals. Furthermore, the increasing production and sales of vehicles are increasing thereby boosting its market growth during the forecast period.
Key Takeaways
  • Asia-Pacific dominated the brake system market in 2019 owing to increasing demand of vehicles with advanced features in automotive industry.
  • Increasing number of road accidents due to brake failure and adoption of certain measures by government to provide safety are further increasing the Brake System Market growth.
  •  Electronic Stability Control in passenger cars is reduced due to computer controlled technology to help the drivers avoid crashes.
  • The development Automatic emergency brake system with enhanced features is driving the market during the forecast period 2019-2025.

By vehicle Type- Segment Analysis
The brake system market is segmented into passenger cars and commercial vehicles based upon the vehicle type. The  market of passenger cars is witnessing a significant growth during the forecast period 2019-2025.Moreover, the use of Electronic Stability Control (ESC) in cars helps the drivers to avoid crashes by reducing the chances of skidding or losing control as a result of over-steering. Furthermore, Electronic Stability Control becomes more active when the driver loses control over their car since it uses computer-controlled technology to apply individual brakes and helps the car to bring safely on track without making an uncontrolled sideways movement. Increasing population along with increasing demand of vehicles with advanced brake system is further driving its market growth.

By Technology - Segment Analysis
Based on technology the brake system market is segmented into-anti-locking brake system, electronic stability control, traction control system, electronic brake force distribution and autonomous emergency brake system. Among these, the Electronic Stability Control holds the largest market share since it supports the drivers in nearly all critical situations thereby reducing the chances of accidents. In addition it functions both as an Anti-Locking Brake System as well as a Traction control system. Furthermore, it detects vehicle skidding movements and actively counteracts them thus providing safety. In automotive industry more than 99% of the United States passenger cars are making automatic emergency braking a standard feature by 2022 thereby boosting its market growth during the forecast period. 

Geography - Segment Analysis
APAC dominated the brake system market with a share of around XX% in 2019, followed by North America and Europe. Increasing population along with increasing demand of passenger cars and vehicles considering safety is making APAC the largest market for automotive industry. In December 2019 Brembo launched a brake-by-wire system which is designed to integrate itself with a regenerative braking and driver assistance system. Moreover, APAC is considered to hold the largest market share in automotive industry  along with the increasing demand for brake system market is dominating its market growth. 

Drivers – Brake System Market

  • Increasing number of accidents
The increasing number of accidents due to brake failure are one of the major reasons promoting the growth of brake system market. According to the World Health Organization approximately 1.35 million people die every year as a result of road accidents contributing to economic losses of individuals. In 2019 WHO entered into a collaboration with the Bloomberg Initiative for Global Road Safety to reduce accidents and injuries from road traffic crashes targeting low and middle income countries and cities. Moreover, by 2022 the auto emergency brake will be mandatory for all cars thereby reducing the chances of accidents. Thus, the growing demand for automotive industry in brake system market is favoring market growth.

  • Implementation of New Car Assessment Program(NCAP) 
New Car Assessment Program is used to test new cars and give the drivers safety rating from one to five stars. As per the NCAP one star means that there are more chances of people dying in a car crash and the rating of five star means that there are lower chances of people dying in a car crash. In February 2020, Mahindra XUV300 has achieved Global NCAP First Ever Safe Choice Award. Global NCAP aims to make the world free from road fatalities and serious injuries. Moreover, by 2020 NCAP main objective is to make Electronic Stability Control compulsory throughout the world. In 2020, Global NCAP has adopted “Road Map for Safer Vehicles” which provides a time table for UN member states to apply for the most important UN vehicle safety regulation. Furthermore, these are the factors of NCAP which is driving the automotive industry to adopt safety features and thereby increasing the brake system market during the forecast period 2019-2025.

Challenges – Brake System Market

  • Increasing cost of electronic brake system
Technological advancement in automotive sector offers better features and thus increases cost. The cost shift towards electronic brake system in vehicles is considerably high as compared to those of mechanical brakes. Therefore the cost of electronic brake system is considered as a major setback in the growth of brake system market during the forecast period.

Market Landscape
Product launches, acquisitions and R&D activities are key strategies adopted by players in the brake system market. In 2019, the market of brake system has been fragmented by the top ten players accounting for xx% of the share. Major players in the Brake System Market are Aisin Seiki Co Ltd, Akebono Brake Industry Co Ltd, Autoliv Inc, Brembo S.P.A, Continental A.G., Delphi Automotive PLC, Haldex AB, Hitachi Automotive System Ltd, Nissin Kogyo Ltd, Valeo and so on.

Acquisitions/Technology Launches
  • In January 2019, Hero HF Deluxe launched a new integrated braking system with larger drums for better stopping and is considered as one of the most economical motorcycles with the delivery of fuel efficiency of 88.24kmpl.
  • In December 2019, Brembo launched the electric brakes known as Brake-by-wire system that offers several advantages than conventional vehicles.

1. Brake System Market - Market Overview
    1.1 Definitions and Scope
2. Brake System Market - Executive Summary
    2.1 Market Revenue, Market Size and Key Trends by Company
    2.2 Key trends by type 
    2.3 Key trends segmented by geography
3. Brake System Market – Industry Market Entry Scenario Premium
    3.1 Regulatory Framework Overview
    3.2 New Business and Ease of Doing business index
    3.3 Case studies of successful ventures
    3.4 Customer Analysis – Top 10 companies Investment
4. Brake System Market - Market Forces
    4.1 Market Drivers
    4.2 Market Constraints
    4.3 Market Opportunities
    4.4 Porters five force model
        4.4.1 Bargaining power of suppliers
        4.4.2 Bargaining powers of customers
        4.4.3 Threat of new entrants
        4.4.4 Rivalry among existing players
        4.4.5 Threat of substitutes 
5. Brake System Market – By Brake type (Market Size -$Billion)
    5.1 Disk Brake
    5.2 Drum Brake
    5.3 Others
6. Brake System Market– By Vehicle type (Market Size -$Billion)
    6.1 Passenger cars
    6.2 Commercial vehicles
        6.2.1 Light
        6.2.2 Medium
        6.2.3 Heavy
7. Brake System Market – By Technology(Market Size -$Billion)
    7.1 Anti-Locking Braking System(ABS)
    7.2 Electronic Stability Control(ESC)
    7.3 Traction Control System(TCS)
    7.4 Electronic Brake-Force Distribution(EBD)
    7.5 Autonomous Emergency Braking(AEB)
    7.6 Others
8. Brake System Market - By Geography (Market Size -$Billion)
    8.1 North America
        8.1.1 U.S
        8.1.2 Canada
        8.1.3 Mexico
    8.2 Europe
        8.2.1 UK
        8.2.2 Germany
        8.2.3 Russia
        8.2.4 Norway
        8.2.5 Rest of Europe
    8.3 Asia-Pacific
        8.3.1 China
        8.3.2 Australia
        8.3.3 Japan
        8.3.4 South Korea
        8.3.5 Indonesia
        8.3.6 Rest of APAC
    8.4 Rest of the World
        8.4.1 Middle East
        8.4.2 Africa
        8.4.3 South America
9. Brake System Market Market- Entropy
10. Brake System Market Market Company Analysis
    10.1 Market Share, Company Revenue, Products, M&A, Developments
    10.2 Aisin Seiki Co,Ltd
    10.3 Akebono Brake industry Co Ltd
    10.4 Autoliv Inc
    10.5 Brembo S.P.A
    10.6 Contiental A.G
    10.7 Delphi Automotive PLC
    10.8 Federal-Mogul Holdings Corp
    10.9 Haldex AB
    10.10 Hitachi Automotive System,Ltd
    10.11 Knoor Bremse AG
    10.12 Mando Corp
    10.13 Nissin Kogyo Ltd
    10.14 Robert Bosch GmBH
    10.15 Wabco Holdings Inc
    10.16 ZF Friedrichshafen AG
    10.17 Valeo
    10.18 TRW Automotive Holdings Corp and others
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