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The two-wheeler braking system market size is estimated to grow at a CAGR of 5.76% between 2023 and 2028. The market size is forecast to increase by USD 944.79 million. The growth of the market depends on several factors such as rising electronic content in two-wheelers, the rising number of electric scooters and motorcycles and the growing adoption of ABS.
This two-wheeler braking system market report extensively covers market segmentation by product (drum and disc), application (motorcycle and scooters), and geography (APAC, North America, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2018 to 2022.
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Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The rising number of electric scooters and motorcycles is notably driving the market growth. The harmful effects of emissions by fossil fuel-operated vehicles have alarmed people around the world, and hence, there has been a growth in the demand for low-emission vehicles. Automotive vendors such as Ather, Okinawa, Ola, Tork, and Harley Davidson focus on developing two-wheeler electric vehicles, which will increase the demand for braking systems. Some of the electric motorcycles and scooters expected to be launched in 2022 are the Hero electric scooter, TVS Creon, Bajaj 2022 Chetak, CFMoto Electric Scooter, Harley-Davidson LiveWire, etc.
in addition, an increase in the launches of electric two-wheelers and government support for the adoption of electric vehicles will increase the demand for braking systems during the forecast period. Therefore, the rising number of electric scooters and motorcycles will drive the growth of the global two-wheeler braking system market during the forecast period.
A growing focus on improving the reliability of electronic braking systems is an emerging trend shaping the market growth. The global automotive industry is witnessing the integration of advanced automotive technologies and systems. Numerous systems and technologies have been developed over the past two decades for automotive applications. Further, the players in the market are now focusing on fine-tuning these systems to increase their capability and effectiveness under all conditions. Works on the development of advanced algorithms have increased, which forms the base design of such systems.
Moreover, braking systems, such as brake-by-wire systems, are becoming increasingly reliable, which will increase their adoption. Therefore, the growing emphasis on improving the reliability of electronic braking systems will drive the growth of the global two-wheeler braking system market during the forecast period.
The high cost of development and maintenance of electronic braking systems is a significant challenge hindering the market growth. The components and systems used in automobiles at present are witnessing the transformation from being completely mechanical to electro-mechanical or all-electronic systems. The same can be seen in automotive brake-by-wire systems as well. The use of electronic components and subsystems in such electronic braking systems increases their cost of development as compared with hydraulic or mechanical braking systems, thereby increasing the overall cost of the vehicles.
In addition to the cost, the costs associated with the maintenance and repair of such systems are also high. Therefore the high cost of development and maintenance of electronic braking systems will hinder the growth of the global two-wheeler braking system market during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Two-wheeler Braking System Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
ADVICS Co. Ltd. - The company offers automotive two-wheeler braking systems such as Advis Brake calliper and Advis advanced braking system modulator.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The drum segment is estimated to witness significant growth during the forecast period. A drum brake is a vehicle brake in which friction is produced by a set of shoes or pads that press against the inner surface of a rotating drum. This braking system generally consists of lower stopping power than the disc brakes but is more resistant to fading due to heat build-up. The drum brakes cost less than disc brakes as they have simpler construction.
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The drum segment was the largest segment and was valued at USD 1,363.13 million in 2018. Additionally, the increasing awareness regarding the safety features of two-wheelers is propelling the growth of the drum segment in the global two-wheeler braking system market during the forecast period. Moreover, the increasing demand for automobiles in demand for automobiles in developing countries is anticipated to drive the drum brake segment. The growing demand for fuel-efficient and low-emitting vehicles is also expected to boost the drum brake segment. The rising number of replacement and aftermarket activities for two-wheelers are also estimated to encourage the demand for the drum segment. Therefore, all such factors are expected to drive the growth of the drum segment in the global two-wheeler market during the forecast period.
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APAC is estimated to contribute 63% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. India, China, and Indonesia are the top adopters of the two-wheeler braking system in APAC. These countries accounted for approximately 85% of the global two-wheeler adoption, which is responsible for the dominance of APAC in the global two-wheeler braking system market. India, China, and Indonesia have large commuter two-wheeler segments owing to cost-effectiveness. Governments of various countries such as China, Japan, India, and South Korea are making collective efforts to shift the focus from fossil fuel-powered automobiles to EVs. China leads the market in APAC because of its vast population and significant demand for EVs, along with its manufacturing and industrial boom.
Moreover, global vendors are slowly penetrating this region by introducing new models and opening facilities, especially in attractive markets such as China, Indonesia, and India. Thus, the rising adoption and development of electric vehicles such as electric scooters and electric motorbikes will increase the demand for a two-wheeler braking system during the forecast period.
In 2020, the outbreak of COVID-19 severely affected prominent producers and consumers of two-wheelers. However, the pandemic was controlled with the help of large-scale COVID-19 vaccination drives conducted by the governments in the region in 2021. As a result, the demand for two-wheelers increased by the end of 2022 as personal transportation gained prominence after the COVID-19 crisis. The growth of the market in focus is also boosted by the increasing demand for two-wheeler braking systems from some emerging markets, due to increasing demand for two-wheelers in the country. Such factors will drive the growth of the regional two-wheeler braking system market during the forecast period.
The two-wheeler braking system market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Two-wheeler Braking System Market Scope |
|
Report Coverage |
Details |
Page number |
163 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.76% |
Market Growth 2024-2028 |
USD 944.79 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
5.54 |
Regional analysis |
APAC, North America, Europe, South America, and the Middle East and Africa |
Performing market contribution |
APAC at 63% |
Key countries |
China, India, Indonesia, Vietnam, and Malaysia |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
ADVICS Co. Ltd., Allied Nippon Pvt. Ltd., ASK Automotive Ltd., Brembo Spa, BWI Group, Carlisle Companies Inc., Continental AG, Datson Engineering, Endurance Technologies Ltd., Hitachi Ltd., HL Mando Co. Ltd., Honda Motor Co. Ltd., Longzhong Holding Group Co. Ltd., Masu Brakes Pvt. Ltd., MK Group, Rico Auto Industries Ltd., Robert Bosch GmbH, ZF Friedrichshafen AG, and Nissin Brake Performance |
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, and Market condition analysis for the forecast period. |
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. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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