The automotive brake system market size is projected to be valued at USD 6,211.0 million in 2023 and is expected to rise to USD 29,601.1 million by 2033. The sales of the automotive brake system are expected to capture a significant CAGR of 16.9% during the forecast period.
The market has two main brake types: disc brakes and drum brakes. The function of the vehicle brake system is to stop or slow down the moving motor vehicle or prevent it from moving when in a stationary position.
All braking systems use the force of friction for their operation. Friction opposes the relative motion of the bodies that are in contact with each other. The force of friction depends upon the nature of surface materials in contact as the friction force presses them together to achieve a braking effect.
The automotive brake system market is predicted to record substantial growth over the course of the forecast period because the automotive industry has a bright future ahead of it in both developed and emerging economies. Increasing safety concerns have led to government mandates laying down the guidelines for vehicular safety norms.
| Attributes | Details |
|---|---|
| Market Estimated Size (2023) | USD 6,211.0 million |
| Market CAGR (2023 to 2033) | 16.9% |
| Market Forecasted Size (2033) | USD 29,601.1 million |
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
From 2018 to 2022, the automotive brake system market exhibited growth at 16.1% CAGR and is projected to showcase a CAGR of 16.9% in the forecast period (2023 to 2033). In the historical period of 2018 to 2022, the market witnessed a steady rise in demand for advanced brake system components.
This was driven by factors such as the increase in vehicles on the road, growing awareness about road safety, and the implementation of stringent safety standards by regulatory authorities. Automotive manufacturers focused on integrating advanced braking technologies, such as ABS, ESC, and regenerative braking systems, into their vehicles to enhance safety and performance.
The market is expected to continue its growth trajectory. The market is expected to be driven by the growing interest in autonomous vehicles, the growing need for electric vehicles, and the ongoing advancements in brake system technology.
Additionally, the market is expected to witness further advancements in safety features and technologies. This includes the integration of advanced driver-assistance systems (ADAS) with braking systems, enabling enhanced collision avoidance, adaptive cruise control, and automatic emergency braking.
The Prominence of Road Safety to Boost the Market
The development of smart braking systems in the market resulted in decrease in accidents. The ongoing advancements prevent the vehicle from skidding, minimizing the risk of accidents.
The rapid increase in the production and sales of vehicles coupled with stringent regulations regarding stopping distances are anticipated to contribute magnanimously to the growth of the market. Growing demand for the installation of passive and active safety in vehicles is expected to trend in the automotive brake system market.
Growing concern over road traffic crashes and an increase in deaths have influenced the key players to integrate robust safety features. Stringent safety regulations by regulatory bodies and governments may continue to drive the growth of the market.
NHTSA (National Highway Traffic Safety Administration), an agency of the United States DOT (Department of Transportation), has planned to mandate the adoption of an Automatic Emergency Braking System (AEB) in 2022.
Principal Consultant
Although the automotive brake system market has numerous end-uses, numerous obstacles likely pose a challenge to market growth. Adoption of the automotive brake system has been observed to be quite low in lower and middle-income countries due to low awareness and less disposable income, which may limit the global market.
Furthermore, the volatility of raw material prices is a key impediment to global market growth. Automotive brake system manufacturers must create lightweight, regulatory-compliant brake systems. Moreover, increasing replacement costs due to accidents, as well as fluctuating raw material prices, are acting as market restraints for the automotive brake system market during the forecast period.
With a more than 34.2% market share, the disc brake segment commands the automotive brake system market.
Disc brakes have emerged as a dominant force in the market, holding a significant share. These braking systems have gained popularity due to their superior performance, reliability, and safety features. Disc brakes function by squeezing brake pads against a rotating disc or rotor, generating friction that slows down or halts the vehicle. Their design allows for efficient heat dissipation, preventing brake fade and ensuring consistent performance.
With their ability to offer shorter stopping distances, improved control, and resistance to brake fade, disc brakes have become the preferred choice for consumers seeking enhanced braking efficiency and safety. They are extensively utilized in passenger cars, commercial vehicles, and high-performance vehicles, meeting the diverse needs of the automotive industry. Additionally, disc brakes are easier to maintain and replace, contributing to their long-term cost-effectiveness.
By vehicle type, the mid-size passenger car segment is anticipated to remain at the forefront, with a value share of 21.3% in the market during the forthcoming years.
These vehicles, characterized by their moderate size and versatile features, rely on advanced braking systems to ensure efficient and reliable stopping power. Typically, mid-sized passenger cars are equipped with a combination of disc brakes for the front wheels and either disc or drum brakes for the rear wheels, depending on the specific model and manufacturer.
This configuration allows for optimal braking performance, providing drivers with confidence and safety. With their widespread popularity among consumers seeking a balance of size, fuel efficiency, and comfort, mid-size passenger cars contribute significantly to the overall automotive market. As a result, there is a growing demand for high-quality brake systems specifically designed to meet the requirements of these vehicles.
Safety remains a paramount concern in the automotive industry, and brake systems in mid-size passenger cars are engineered to meet rigorous safety standards, including features like anti-lock braking systems (ABS) and electronic brake-force distribution (EBD). These advanced technologies enhance braking efficiency and stability, ensuring a smooth and controlled driving experience.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
Growing Investments into Research and Development Activities by Key Players in the Region to Drive Demand in the Market
North America dominated the global automotive brake system market in 2022. North America accounts for a market share of 24.8% in the global market.
The increasing awareness about the safe and smooth drive-in wake of increasing road accidents, advanced technology reducing weight and friction generated in vehicles, and R&D activities by key players in the region boost the growth of the market in North America.
Rapid growth and advancement in electric vehicles and their adoption in the region are contributing to the growth of the automotive brake system market. Also, Government grants for research and development activities are further fueling growth in this region's automotive brake system industry.
The United States is likely to acquire 28.2% of the value share in the North American market. The automobile brake system market may continue to grow owing to the stringent safety rules imposed by regulatory organizations and governments.
Since 2022, the National Highway Traffic Safety Administration (NHTSA), a United States transportation department division, plans to make automatic emergency braking mandatory in vehicles.
Presence of Leading Market Players in the Region Provide Opportunity for the Growth of the Market
Europe is projected to hold the highest share of the automotive brake system market and is likely to dominate the market during the forecast period. The European region currently holds 29.7% of the total market share for automotive brake systems.
The expansion of the market can be attributed to the growing popularity of commercial vehicles such as passenger cars and electric buses in European countries, and thus the market is gaining traction.
Germany captured 14.4% of the market share in the European region. Top players operating in the market in Germany are investing and expanding their production capabilities to deploy sustainable products, owing to awareness and acceptance of lightweight vehicles.
For instance, in March 2022, Continental is further expanding its global activities in driver assistance systems and automated driving and strengthening development locations in Germany.
Some key participants present in the global automotive brake system market include TRW Automotive Holdings Corp., Aisin-Seiki Co. Ltd., Continental AG, Akebono Brake Industry Co. Ltd., Brembo S.P.A., Halla Mando Corp., among others.
The market is highly competitive due to the presence of such prominent participants. While global players such as TRW Automotive Holdings Corp., Aisin-Seiki Co. Ltd., Continental AG, and Akebono Brake Industry Co. Ltd account for a considerable market size, several regional-level players are also operating across key growth regions, particularly in the Asia Pacific.
Recent Developments
In November 2021 - Technology Company Continental developed its pioneering generation of the electro-hydraulic brake system MK C1. While it offers higher availability and higher performance, the MK C2 is more compact and lighter, so it is much easier to integrate into smaller vehicle models and complete vehicle platforms with diverse powertrain concepts and varying installation spaces.
In July 2022 - Brembo and Gold Phoenix signed a Joint Venture agreement establishing a new company, Shandong BRGP Friction Technology Co., Ltd, to create the first large-scale Brembo manufacturing facility fully dedicated to producing innovative aftermarket pads.
| Attributes | Details |
|---|---|
| Growth Rate | CAGR of 16.9% from 2023 to 2033 |
| Base Year of Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD million and Volume in Units and F-CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, growth factors, Trends, and Pricing Analysis |
| Key Segments Covered | System Type, Vehicle Type, Technology |
| Regions Covered | North America; Latin America; Europe; East Asia; South Asia; The Middle East & Africa; Oceania |
| Key Countries Profiled | The United States, Canada, Brazil, Mexico, Germany, Italy, France, The United Kingdom, Spain, Russia, China, Japan, India, GCC Countries, Australia |
| Key Companies Profiled | TRW Automotive Holdings Corp.; Aisin-Seiki Co. Ltd.; Continental AG; Akebono Brake Industry Co. Ltd.; Brembo S.P.A.; Halla Mando Corp. |
| Customization & Pricing | Available upon Request |
The industry is valued at US$ 6,211.0 million in 2023.
Robert Bosch GmbH, ZF Friedrichshafen AG, and Continental AG are key industry players.
The key consumer of the automotive brake system market is the automotive industry.
The industry is estimated to reach US$ 29,601.1 million by 2033.
The automotive brake system market CAGR for 2033 is 16.9%.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5.1. Disc 5.2. Drum 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Vehicle Type 6.1. Mid-Sized Passenger Cars 6.2. Compact Passenger Cars 6.3. Luxury Passenger Cars 6.4. Light Commercial Vehicles 6.5. Heavy Commercial Vehicles 6.6. Premium Passenger Cars 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Technology 7.1. Anti-Lock Braking System (ABS) 7.2. Electronic Stability Control (ESC) 7.3. Traction Control System (TCS) 7.4. Electronic Brake-Force Distribution (EBD) 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. TRW Automotive Holdings Corp. 18.2. Aisin-Seiki Co. Ltd. 18.3. Continental AG 18.4. Akebono Brake Industry Co. Ltd. 18.5. Brembo S.P.A. 18.6. Halla Mando Corp. 18.7. Hitachi Automotive System 18.8. Robert Bosch GmbH 18.9. Haldex 18.10. Nissin Kogyo Co. Ltd. 19. Assumptions & Acronyms Used 20. Research Methodology
Explore Automotive Insights
View Reports
Automotive Brake System Market
