Automotive Brake System Market - Trend, Growth, Forecast 2024–2032

Automotive Brake System Market Synopsis:

Automotive Brake System Market Size Was Valued at USD 24.10 Billion in 2023, and is Projected to Reach USD 37.38 Billion by 2032, Growing at a CAGR of 5.00% From 2024-2032.

Automotive brake system market can therefore be defined as the business that relates to designing, manufacturing and delivering of brake systems for vehicles. These systems are integral subassemblies designed to partially or fully control the speed of the vehicle and which use kinetic energy in order to produce heat. The market includes different types of brakes, including disc and drum brakes and extends to the passenger and commercial vehicle markets. It also comprises sophisticated solutions like anti-locking systems (ABS), electronic stability control (ESC) and regenerative brakes, with the bits like brake pad, rotor, calipers and brake booster constituting part of this market.

Automotive brake system market is mainly influenced by the rising need of safety of vehicles and the increasing number of cars and other automobiles surrounding the world. In traffic congestion and resulting incidence rates there is growing demand for improved braking solutions which enables better vehicular control and safety. Voluntary consumer awareness and contractual as well as legal requirements concerning safety aspects have also contributed to the market demand. Further, the high rate of implementation of Electric Vehicles (EVs) and hybrid vehicles with regenerative systems is fueling the growth in the brake system market.

Other related technology factors for the market include evolving technologies in the brake system, where major technologies like electronic braking system have been introduced in to the market and improvement in the brake pad. The specific developments being seen in this automotive brake system is that manufacturers are working towards increasing its efficiency and performance, decrease its weight and increase its durability. That is why new technologies such as autonomous braking systems and smart brake systems for electric and hybrid vehicles are expected to drive the market even more in the future. The need to adapt state-of-the-art braking systems in improved sports cars and goluptuous automobiles also contributes to the drive.

Automotive Brake System Market Trend Analysis:

Regenerative braking on electric and hybrid cars

• In the existing market of the automotive brake system, there is the concern for the brake system component lightweighting as well as the system’s high performance. Due to high demands on fuel economy and low emissions, such lightweight materials as carbon composites are being introduced into brake parts of vehicles. These materials mean that vehicle weights are lowered across the entirety of the car to increase fuel efficiency without hampering the brakes. Also, integration of brakes with other vehicle systems like the ESC or AEB has been noted to be a growing trend on the market.
• Other factors are a rise in the complexity of the technologies used in automobiles, such as regenerative braking on electric and hybrid cars. This system involves the vehicle’s movement energy during braking and the recreation of this energy in the form of electricity and stored in the battery. Such tendency is more accruing noticeable with emergent of electric vehicles in the automobile market because these systems enhance energy effectiveness and productivity of electrical cars. As the automotive industry moves to promote the use of sustainable technologies the need for such power effective braking technologies will continue to grow.

The rising trend of AV.

• The rising trend of AVs is the major opportunity which can be identified in the automotive brake system market. The autonomous cars operate through the use of other sensor, cameras and artificial intelligence systems in handling the movements of cars and including the braking systems. This introduces new opportunities for interactively embedding intelligent braking systems that can better and more promptly adapt to the driving environment. This aspect creates a chance for manufacturers to produce intelligent, self-regulating braking systems that are integrated with the features of autonomous driving so that to enhance the general safety and efficiency of vehicles.
• One more prospect is associated with the future growth of the demand for high-performance braking systems for sports and luxury cars. With the market for automotive expanding year in, year out, consumers are now focusing more on the handling and safety of cars. This trend has generated an increased desire for adjusted braking systems including carbon-carbon brake systems and ceramic brakes that provides optimal performance, low wear and high utilisations. Manufacturers should take advantage of this trend and bring on the market even more sophisticated and specifically for high-performance vehicles appropriate braking systems.

Automotive Brake System Market Segment Analysis:

Automotive Brake System Market is Segmented on the basis of Brake Type, Vehicle Type, Application, and Region.

By Brake Type, Disc Brakes segment is expected to dominate the market during the forecast period

• Disc brakes are widely used in most vehicles today especially in the passenger cars and various commercial use trucks. They include the rotor and the caliper in which the caliper rubs against the rotor in an effort to bring the vehicle to a standstill. Disc brakes outdo drum brakes in terms of performance, heat management, and material endurance, are used in most other car varieties and new electric and hybrid cars.
• Drum brakes are, however, used in vehicles at present but are predominantly used in rear-wheel braking systems. That is the time when brake shoes are forced to rub the inside of the drum to slow the vehicle down. As compared to drum brakes, disc brakes, albeit costing more for their manufacture and assembly, take much less time in cooling and delivering power to the wheels, so they are usually fitted in small or low-power cars.

By Application, Aftermarket segment expected to held the largest share

• Original equipment brake systems are those that are fitted at the time of manufacturing a particular vehicle. Automotive OEMs insist on acquiring brake systems that are rich in quality and strongly constructed to ensure safe rides. They are normally custom built to fit the vehemac specifications and more commonly, compatibility with other systems and vehicle performance characteristics.
• Original equipment manufacturer brake systems are important for safety as well as the functionality of the car from assembly line.The aftermarket segment addresses brake systems and parts that are purchased after car distribution and after the ownership has been transferred. This segment consists of brake pad, disc and other parts that undergo constant wear and tear and hence need change often. The factors like increased usage of vehicles on road and conscious effort towards maintenance of the vehicle have led to the growth of the aftermarket segment.

Automotive Brake System Market Regional Insights:

Asia Pacific is Expected to Dominate the Market Over the Forecast period

• Asia Pacific is dominating the automotive brake system market because it constitutes the largest market share. Some of the major automobile assembly countries in flow are China, Japan, and India and this region records high flow of automobiles. The fact that car manufacturing businesses have been growing in Asia Pacific very fast, added to the growing concern about car safety and technologies, has boosted Asia Pacific industry. In addition, the growth of the brake system has been further complemented by the wellbeing automotive aftermarket services in the region.
• The region is also experiencing the growth in the use of electrical vehicles (EVs) which increases the desire for new systems such as regenerative braking. As automotive manufacturers based in nations such as China are escalating their spending ability to support the growth of EVs, auto makers within the region are devising modern braking systems to suit the purpose of electric and hybrid vehicles. As such, it is likely to continue with Asia Pacific becoming even more influential in the automotive brake system market.

Active Key Players in the Automotive Brake System Market:

• Akebono Brake Industry Co., Ltd. (Japan)
• Autoliv Inc. (Sweden)
• Bosch Group (Germany)
• Brembo S.p.A. (Italy)
• Continental AG (Germany)
• Delphi Technologies (UK)
• Honeywell International Inc. (USA)
• Mando Corporation (South Korea)
• Nissin Kogyo Co., Ltd. (Japan)
• ZF Friedrichshafen AG (Germany), and Other Active Players