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The two-wheeler braking system market size is estimated to grow by USD 944.79 million at a CAGR of 5.76% between 2023 and 2028. Market expansion in the automotive industry, specifically in the two-wheeler segment, is driven by several key factors. One of the significant trends is the increasing electronic content in two-wheelers, which includes the adoption of advanced safety features such as Anti-lock Braking Systems (ABS). Two-wheeler brake pads, a crucial component of ABS, are witnessing substantial growth due to this trend. Additionally, the growing prevalence of electric scooters and motorcycles is another factor fueling the market expansion. These electric two-wheelers require specific types of brake pads to ensure optimal performance. Furthermore, the rising adoption of ABS in two-wheelers, driven by safety regulations and consumer demand, is creating new opportunities for two-wheeler brake pad manufacturers.
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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 1.36 billion in 2018. Additionally, the increasing awareness regarding the safety features of two-wheelers is propelling the growth of the drum segment in the 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 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, the growing electric vehicle market in Asia, particularly in China, Indonesia, and India, is witnessing significant growth as global companies expand their presence. This trend is driven by the increasing adoption of electric scooters and motorbikes, which in turn, will boost the demand for advanced motorcycle braking systems. Motorcycle braking systems are essential components that ensure the safety and efficiency of two-wheelers. These systems employ various technologies such as hydraulic disc brakes, drum brakes, and anti-lock braking systems (ABS) to provide reliable stopping power. As the electric two-wheeler market continues to evolve, motorcycle braking systems will play a crucial role in enhancing the overall performance and safety of these vehicles. Consequently, the forecast period is expected to witness substantial growth in the demand for motorcycle braking systems in Asia.
In the evolving landscape of the market, factors like urbanization and changing demographics shape consumer preferences. Safety remains a top priority, with advancements like Anti-lock Braking System adhering to stringent safety standards to ensure the well-being of young riders, both in urban and rural populations. Incorporating modern electronics, brake systems enhance steerability and reduce braking distance, mitigating issues such as tire wear and tear. As with passenger vehicles, considerations like loans and interest rates influence purchasing decisions, alongside factors like fuel efficiency and maneuverability. Brands focus on price competitiveness while utilizing materials like copper for durable brake pads, ensuring reliability and affordability in the market. 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 companies 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.
Moreover, the electric vehicle revolution is gaining momentum, with an escalating number of launches in the two-wheeler sector. This shift towards sustainable transportation is not only backed by consumer preferences but also by government initiatives. Consequently, the demand for advanced braking systems, including Two-wheeler Brake Pads, is poised to surge during the forecast period. The increasing adoption of electric scooters and motorcycles, driven by their eco-friendly nature and cost-effectiveness, will significantly contribute to market growth. These electric two-wheelers require efficient braking systems to ensure safe and reliable operation. Thus, the rising trend of electric two-wheelers and supportive government policies will propel the demand for Two-wheeler Brake Pads in the upcoming years.
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 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 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 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 market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
Two-Wheeler Electronic Control Unit (ECU) Market: Two-Wheeler Electronic Control Unit (ECU) Market Analysis APAC, South America, North America, Europe, Middle East and Africa - China, US, India, Indonesia, Vietnam - Size and Forecast
Motorcycle Suspension Systems Market: Motorcycle Suspension Systems Market Analysis APAC, North America, Europe, South America, Middle East and Africa - China, India, Indonesia, Thailand, US - Size and Forecast
Motorcycle Clutch Market: Motorcycle Clutch Market Analysis APAC, North America, Europe, South America, Middle East and Africa - China, India, US, Germany, Indonesia - Size and Forecast
In the market, understanding demographic trends and catering to the needs of the rural population is essential. Compliance with regulatory standards and increasing consumer awareness drive demand, particularly in regions with high aftermarket demand. Adherence to emission standards and cost-efficiency are key considerations, with advancements in material science facilitating electric mobility solutions. Technologies like IoT and telematics systems enhance safety, reducing the risk of fatal crashes in road traffic scenarios. From high-performance bikes to sports and cruiser bikes, emphasis on smooth riding performance is paramount, aided by innovations like ABS braking systems and wheel speed sensors. Partnerships with companies like Blubrake and reliable auto ensure the supply of quality products, mitigating concerns related to mechanical problems and system breakdowns. As the market grows, investments in EV charging stations and subsidies drive the adoption of eco-friendly solutions, ensuring a sustainable future for the industry.
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 Forecasting, 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 market forecast period. |
Customization purview |
If our market 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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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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