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The automotive brake system market share is expected to increase by USD 5.05 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 4.48%.
This automotive brake system market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers automotive brake system market segmentation by type (passenger cars and commercial vehicles) and geography (APAC, Europe, North America, MEA, and South America). The automotive brake system market report also offers information on several market vendors, including Aisin Corp., Autoliv Inc., Brembo Spa, Continental AG, DENSO Corp., Hitachi Ltd., Hyundai Motor Group, Mando Corp., Robert Bosch GmbH, and ZF Friedrichshafen AG among others.
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The increasing demand for safety measures to reduce accidental injuries is notably driving the automotive brake system market growth, although factors such as high dependency on advanced systems leading to unreliability of these systems may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the automotive brake system industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Automotive Brake System Market Driver
One of the key factors driving market growth for automotive brake systems is the increase in the demand for safety measures for avoiding accidental injuries. The rising number of road accidents is pushing original equipment manufacturers (OEMs) to implement safer braking systems in their vehicles and comply with stringent government norms. The increase in consumer expectations has forced the automotive industry to adopt increased electrification of various components in the vehicles. This move has enhanced 90% of the features in the vehicle model, increasing the automotive brake system market share.
Key Automotive Brake System Market Challenge
The high dependency on advanced systems is one of the key challenges for the automotive brake system market growth. There has been a technological breakthrough through the electrification of braking systems but their durability and reliability are a cause of concern among the users. For instance, BMW recalled 901 of their vehicles sold in 2019-2020 in North America because the driver-assist system with automatic braking systems, which detects and warns the driver about the obstacles, failed to activate the brakes. Such situations can be dangerous for the users, hence from the OEMs' perspective, this poses a challenge for the market.
This automotive brake system market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the automotive brake system market encompasses successful business strategies deployed by the key vendors. The automotive brake system market is fragmented and the vendors are deploying growth strategies such as focusing on designing and developing advanced braking systems to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The automotive brake system market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
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58% of the market's growth will originate from APAC during the forecast period. China is the key market for the automotive brake system market in APAC. Market growth in this region will be faster than the growth of the market in the rest of the regions.
The high-volume sales of hybrid passenger vehicles from various automakers will facilitate the automotive brake system market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
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The automotive brake system market share growth by the passenger cars segment will be significant during the forecast period. The passenger cars are equipped with disc braking systems as these are more efficient than the drum brakes for stopping vehicles. Moreover, disc brakes are designed with external anti-locking (aka ABS) for getting nomical control over the vehicle, as the disc brakes require more air-pressure as compared to drum brakes. These factors are boosting the prices of the automotive brake-by-wire systems, eventually fueling the market share growth with their high demand and safety features.
This report provides an accurate prediction of the contribution of all the segments to the growth of the automotive brake system market size and actionable market insights on post COVID-19 impact on each segment.
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Automotive Brake System Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.48% |
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Market growth 2021-2025 |
$ 5.05 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
3.35 |
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Regional analysis |
APAC, Europe, North America, MEA, and South America |
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Performing market contribution |
APAC at 58% |
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Key consumer countries |
China, US, Germany, France, and UK |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Aisin Corp., Autoliv Inc., Brembo Spa, Continental AG, DENSO Corp., Hitachi Ltd., Hyundai Motor Group, Mando Corp., Robert Bosch GmbH, and ZF Friedrichshafen AG |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Type
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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