Automotive Braking Systems Market Trends, Sector Overview and Forecast to 2028
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Automotive Braking Systems Market Report Overview
The automotive braking systems market size was 578.5 million units in 2023. The market will grow at a CAGR of more than during 2023-2028. Rapid growth in EV adoption is driving the demand for regenerative braking systems. In 2023, Asia-Pacific accounted for a significant share of the automotive braking systems market.
Automotive Braking Systems Market Outlook, 2023-2028 (Million Units)
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The automotive braking systems market research report provides a comprehensive overview of the automotive brake systems market trends and drivers. The automotive brake systems market also provides a detailed overview of technological developments and innovations, PESTER analysis, and leading component suppliers at a global and regional level. Furthermore, evaluate strategic initiatives by market players and their recent product innovations to identify growth opportunities. The report also provides an overview of patent filings across, regions, countries, and top applicants.
Market Size (2023) | 578.5 million units |
CAGR (2023-2028) | >1% |
Historical Period | 2018-2022 |
Forecast Period | 2023-2028 |
Key Regions | Asia-Pacific, Europe, North America, South America, and MEA |
Key Companies | ZF Friedrichshafen, Continental, Hitachi Astemo Ltd, Advics, and Akebono Brake Industry |
Key Sectors | Drum Brakes and Disc Brakes |
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Automotive Braking Systems Market Trends
The key trends shaping the automotive brake systems market are the integration of electric and hybrid vehicles and the rising demand for brake-by-wire technology.
Electric and Hybrid Vehicle Integration: Electric and hybrid vehicles often utilize regenerative braking systems, which convert kinetic energy into electrical energy during braking. When the driver applies the brakes, the electric motor acts as a generator, capturing energy that would otherwise be lost as heat in traditional braking systems.
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Automotive Braking Systems Market Segmentation by Regions
In 2023, Asia-Pacific accounted for the highest share among all the regions
The key regions in the automotive braking systems market are Asia-Pacific, Europe, North America, South America, and MEA. China and India are the two largest markets for brake systems in the Asia-Pacific region. The growing production rates of vehicles in China and India, along with regulatory compliance with the UN agreement, are the primary factors driving these markets for braking systems.
Automotive Braking Systems Market Analysis by Regions, 2023 (%)
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Automotive Braking Systems Market – Competitive Landscape
A few of the top companies operating in the market are:
- ZF Friedrichshafen
- Continental
- Hitachi Astemo Ltd
- Advics
- Akebono Brake Industry
ZF introduces a groundbreaking development in automotive technology with its Brake by Wire system, representing the future of purely electric brake systems for software-defined vehicles.
ZF Group, a global technology company based in Germany specializing in supplying systems for passenger cars, commercial vehicles, and industrial technology, has revealed a significant million investment plan for advanced manufacturing in Mexico. The company will be constructing a new production facility at its existing factory in Toluca, Mexico.
Automotive Braking Systems Analysis by Companies
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Automotive Braking Systems Market Segmentation by Sectors
The key sectors in the automotive braking systems market are drum brakes and disc brakes. In 2023, disc brakes accounted for the highest automotive braking systems market share.
Automotive Braking Systems Market Analysis by Sectors, 2023 (%)
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Automotive Braking Systems Market – Latest Developments
A few of the latest developments in the automotive braking systems market are as follows:
In 2023, ZF unveiled its first entirely electro-mechanical brake system at its Next Generation Mobility Day in Shanghai. Without the use of brake fluid or a hydraulic system, an electric motor provides the braking force at each wheel.
In 2023, braking specialist TMD Friction UK has expanded its vehicle coverage by adding three new brake pads and two new brake discs to its Mintex product line.
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Segments Covered in this Report
Automotive Braking Systems Sector Outlook (Value, Million Units, 2018-2028)
- Drum Brakes
- Disc Brakes
Automotive Braking Systems Regional Outlook (Value, Million Units, 2018-2028)
- Asia-Pacific
- Europe
- North America
- South America
- MEA
Scope
This report brings together multiple data sources to provide a comprehensive overview of the global braking systems sector. It includes an analysis of the following:
- Trends & Drivers: Provides an overview of the current sector scenario regarding the outlook in terms of key trends and drivers of the sector.
- Technological Developments: Provides a detailed overview of technological developments and innovations in the sector.
- PESTER Analysis: Provides a detailed understanding of various factors such as political, economic, social, technological, environmental, and regulatory impacting the sector.
- Sector Forecast: Provides deep-dive analysis of the global market covering volume growth during 2018–2028, and spot estimates for 2030 and 2036. The analysis also covers a regional overview across four regions-Asia-Pacific, Europe, MEA, North America, and South America -highlighting sector size, and growth drivers for the region.
- Competitive Landscape: Provides an overview of leading component suppliers at a global and regional level, besides analyzing the recent product innovations and key strategic initiatives taken by the companies.
- Patent Analysis: Provides an overview of patent filings in the sector across regions, countries, and top applicants.
Key Highlights
- The global braking systems market is estimated at 513.6 million units in 2023.
- Disk brakes dominate the sector
- Over the forecast period, the braking systems sector is expected to record a CAGR of more than 5% during 2021–26.
- The top companies operating in the global braking systems are Bosch, Continental, ZF TRW, Advics, and Mando.
Reasons to Buy
- Auto OEMs and component suppliers seek the latest information on how the market is evolving to formulate their sales and marketing strategies. There is also a demand for authentic market data with a high level of detail.
- This report has been created to provide its readers with up-to-date information and analysis to uncover emerging opportunities for growth within the sector in the region.
- The report provides a detailed analysis of the regions and competitive landscape that can help companies gain insight into the region-specific nuances.
- The analysts have also placed a significant emphasis on the key trends that drive customer choice and the future opportunities that can be explored in the region, which can help companies in revenue expansion.
- To gain competitive intelligence about leading component suppliers in the sector in the region with information about their market share and growth rates.
Continental
ZF
Advics
HL Mando
Table of Contents
Table
Figures
Frequently asked questions
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What was the automotive braking systems market size in 2023?
The automotive braking systems market size was 578.5 million units in 2023.
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What will the automotive braking systems market growth rate be during the forecast period?
The automotive braking systems market will grow at a CAGR of more than 1% during 2023-2028.
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Which was the leading sector of the automotive braking systems market in 2023?
In 2023, disc brakes accounted for the highest automotive braking systems market share.
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Which was the leading region in the automotive braking systems market in 2023?
Asia-Pacific was leading the automotive braking systems market in 2023.
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Which are the key companies in the automotive braking systems market?
The top companies operating in the market are ZF Friedrichshafen, Continental, Hitachi Astemo Ltd, Advics, and Akebono Brake Industry.
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