Automotive Brake System Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 32.18 Billion |
| Market Size (2029) | USD 38.72 Billion |
| CAGR (2024 - 2029) | 3.78 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Automotive Brake System Market Analysis
The Automotive Brake System Market size is estimated at USD 32.18 billion in 2024, and is expected to reach USD 38.72 billion by 2029, growing at a CAGR of 3.78% during the forecast period (2024-2029).
The automotive brake system market is experiencing robust growth, driven by several key factors. One of the primary drivers is the increasing production and sales of vehicles worldwide. This growth in vehicle production directly boosts the demand for automotive brake systems, as every vehicle requires a reliable and efficient braking system for safety and performance.
Government regulations play a crucial role in accelerating the growth of the automotive brake system market. In the United States, the National Highway Traffic Safety Administration (NHTSA) and the Department of Transportation (DOT) have proposed rules mandating the inclusion of automatic emergency braking (AEB) in all new passenger cars and light trucks by 2029. These regulations are designed to improve road safety and reduce accidents caused by delayed braking responses.
Similarly, the European Union's General Safety Regulation (GSR) mandated advanced safety features, including AEB, in new vehicles in July 2024. These stringent safety standards compel automakers to integrate advanced braking technologies into their vehicles, driving the demand for automotive brake systems.
Some other factors driving the market are growing awareness about safe and smooth driving in the wake of increasing road accidents, the demand for advanced technology to reduce weight and friction generated in vehicles, and R&D activities by major players. On the other hand, the increasing adoption of electric cars and the rising focus on autonomous vehicles are expected to boost the commercial growth potential of manufacturing companies shortly.
The growth in the automotive segment may also drive the studied market in the coming years.
Automotive Brake System Market Trends
The OEM Segment is Expected to Witness Prominent Growth During the Forecast Period
Automobile companies are constantly producing new and enhanced products for the comfortable and safe driving of vehicles. Companies are providing anti-lock braking systems integrated with electronic stability control (ESC) to prevent skidding, thus bringing vehicles under control. Therefore, technological advancements in vehicle safety features are a potential driver for the growth of the automotive brake system market.
According to the International Organization of Motor Vehicle Manufacturers (OICA), global vehicle production reached 95.11 million units in 2023, marking a significant recovery from the previous year's decline. As vehicle production rises, the demand for OEM brake systems, which are integral to the manufacturing process, also increases. This demand is further amplified by the growing consumer preference for advanced braking technologies such as ABS (anti-lock braking system) and EBD (electronic brakeforce distribution), which are predominantly supplied by OEMs.
Additionally, the rising trend of electric vehicles, which are expected to constitute between 42% and 58% of car sales in the global vehicle market by 2030, also boosts the OEM segment, as EVs require specialized braking systems for energy regeneration and enhanced safety.
As brakes have become a crucial part of any vehicle to ensure safety when the demand for speed is increasing consistently, several key companies and automakers are inclined toward embedding high-quality brake systems. This trend has resulted in OEMs signing contracts with automobile manufacturers to supply braking systems.
Asia-Pacific is Anticipated to Grow Significantly During the Forecast Period
Asia-Pacific continues to dominate the market, and manufacturers in the region offer high-cost reductions due to the availability of low-cost labor and raw materials. The region comprises some high-potential countries, such as China and India, which accounted for 30.16 million and 5.85 million of vehicle production, respectively, i.e., approximately 38.5% of the total global vehicle production. The increasing popularity of active braking systems boosts the sales of luxury and premium vehicles.
The companies are primarily focused on developing eco-friendly, reliable, and robust braking systems. The key players have made heavy investments in research and development to increase their market shares and ensure healthy growth.
- In December 2023, Hella GmbH & Co. KGaA (HELLA) announced its intent to acquire TMD Friction's 50% share in their joint venture, Hella Pagid, making HELLA the sole shareholder. This move, effective from October 1, 2024, aligns with HELLA's strategy to consolidate its brake product offerings under its brand while TMD Friction focuses on expanding its Pagid brand sales.
- In November 2023, ZF Friedrichshafen (ZF) launched a purely electro-mechanical brake system. This "dry" brake system, devoid of hydraulic components, allows for significantly shorter braking distances and enhanced recovery of braking energy, which is particularly beneficial for electric vehicles. This technology promises up to 17% more range for electric vehicles through improved energy recovery, setting a new standard in braking efficiency.
The growing number of accidents globally has also necessitated the enhancement of safety features in vehicles, particularly in mid-segment models. This trend is evident in countries such as India, where the government mandated the installation of anti-lock braking systems (ABS) in all vehicles starting in April 2019 to reduce road accidents. This regulatory push has significantly impacted the automotive brake system market, compelling automakers to adopt advanced braking technologies.
Such developments drive demand in the market. Hence, Asia-Pacific is expected to have enhanced growth during the forecast period.
Automotive Brake System Industry Overview
The automotive brake system market is fragmented, with the presence of various players. Some of the key players in the market include Advics Co. Ltd, Bosch Mobility Solutions, Continental AG, Brembo SpA, and Hitachi Astemo Ltd.
Key players are actively investing in new manufacturing facilities to expand their production capabilities. This expansion is about increasing volume and situating production closer to key markets to reduce logistics costs and improve supply chain efficiency. Establishing these new facilities often comes with adopting advanced manufacturing technologies that increase production efficiency and product quality.
- In February 2024, ASK Automotive, a leading developer of advanced braking systems, announced its plans to set up a new manufacturing facility in Karnataka, India, with an investment of INR 2.19 lakh. Scheduled to be operational by Q4 2025, this facility will bolster ASK Automotive's production capabilities in brake panel assemblies, brake shoes, and other critical braking components.
- In January 2024, China-based Winhere marked a significant expansion by initiating the construction of a new factory in Rayong, Thailand. This facility, focusing on manufacturing brake discs and pads, aims to strengthen Thailand's role as a major supplier in the automotive parts industry. The project is expected to be completed in early 2025, enhancing Winhere's production capacity for both the domestic and international markets.
Automotive Brake System Market Leaders
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Bosch Mobility Solutions
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Continental AG
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Hitachi Astemo Ltd.
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Brembo S.p.A
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Akebono Brake Industry Co., Ltd
*Disclaimer: Major Players sorted in no particular order
Automotive Brake System Market News
- March 2024: LISI Group, based in France, announced its advancement in automotive brake technology by developing custom-forged components for dry brake systems. These systems, activated by electric motors within the calipers and devoid of brake fluid, offer lighter weight, reduced pollution, and improved efficiency. LISI's expertise in co-designing allows for the production of complex shapes at optimized costs, enhancing integration into modern braking systems.
- February 2024: Suprajit Engineering unveiled its new braking products division in Bangalore, India. Positioned in the renovated Bommasandra Industrial Area, this division aims to deliver a comprehensive range of braking products, including brake shoes, pads, and mechanical disc brake systems, to OEM customers and the aftermarket. This strategic expansion is set to enhance Suprajit's offerings in the automotive brake system market.
- October 2023: Continental formed a strategic alliance with Munich-based high-tech company DeepDrive to collaboratively advance core technologies for electric vehicles. The initial milestone of this partnership involves the joint development of an integrated unit that combines drive and brake components designed for direct mounting on the vehicle wheel.
- March 2023: Bosch announced a substantial investment of USD 283.2 million for the expansion of its Aguascalientes plant in central Mexico. This revelation came as part of the plant's 30th-anniversary celebrations. The investment is expected to generate 400 new jobs and enable the facility to manufacture electronic parking brakes (EPB) for leading automotive companies like Tesla, BMW, and Nissan.
Automotive Brake System Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.1.1 Increasing Vehicle Production
4.2 Market Restraints
4.2.1 Global Trade Dynamics
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Buyers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size in Value (USD))
5.1 By Product Type
5.1.1 Disc Brakes
5.1.2 Drum Brakes
5.2 By Brake Pad Material Type
5.2.1 Organic
5.2.2 Metallic
5.2.3 Ceramic
5.3 By Sales Channel
5.3.1 Original Equipment Manufacturers (OEMs)
5.3.2 Aftermarket
5.4 By Vehicle Type
5.4.1 Commercial Vehicles
5.4.2 Passenger Vehicles
5.5 By Geography
5.5.1 North America
5.5.1.1 United States
5.5.1.2 Canada
5.5.1.3 Rest of North America
5.5.2 Europe
5.5.2.1 Germany
5.5.2.2 United Kingdom
5.5.2.3 France
5.5.2.4 Italy
5.5.2.5 Rest of Europe
5.5.3 Asia-Pacific
5.5.3.1 China
5.5.3.2 India
5.5.3.3 Japan
5.5.3.4 South Korea
5.5.3.5 Rest of Asia-Pacific
5.5.4 Rest of the World
5.5.4.1 Brazil
5.5.4.2 South Africa
5.5.4.3 Other Countries
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share**
6.2 Company Profiles*
6.2.1 Akebono Brake Industry Co. Ltd
6.2.2 Brembo NV
6.2.3 Robert Bosch GmbH
6.2.4 Continental AG
6.2.5 Disc Brakes Australia (DBA)
6.2.6 Aptiv PLC
6.2.7 Federal-Mogul Holding Co.
6.2.8 Hella Pagid GmbH
6.2.9 Performance Friction Corporation (PFC) Brakes
6.2.10 Sundaram Brake Linings (SBL)
6.2.11 ZF TRW Co.
6.2.12 Advics Co. Ltd
6.2.13 Hitachi Automotive Systems
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Use of IoT in the Automotive Brake System Market
Automotive Brake System Industry Segmentation
A brake is a mechanical device designed to restrain the motion of a vehicle by absorbing energy from a moving system, usually by means of friction. An automotive brake system is used to stop vehicles within the smallest distance possible by converting kinetic energy into heat energy.
The automotive brake system market is segmented by product type, brake pad material type, sales channel, vehicle type, and geography.
By product type, the market is segmented into disc brakes and drum brakes. By brake pad material type, the market is segmented into organic, metallic, and ceramic. By sales channel, the market is segmented into original equipment manufacturers (OEMs) and aftermarket. By vehicle type, the market is segmented into passenger vehicles and commercial vehicles. By geography, the market is segmented into North America, Europe, Asia-Pacific, and Rest of the World.
The report offers the market sizes and forecasts in value (USD) for all the above segments. The report also offers the market dynamics, latest trends, size, share, and industry overview.
| By Product Type | |
| Disc Brakes | |
| Drum Brakes |
| By Brake Pad Material Type | |
| Organic | |
| Metallic | |
| Ceramic |
| By Sales Channel | |
| Original Equipment Manufacturers (OEMs) | |
| Aftermarket |
| By Vehicle Type | |
| Commercial Vehicles | |
| Passenger Vehicles |
| By Geography | |||||||
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Automotive Brake System Market Research FAQs
How big is the Automotive Brake System Market?
The Automotive Brake System Market size is expected to reach USD 32.18 billion in 2024 and grow at a CAGR of 3.78% to reach USD 38.72 billion by 2029.
What is the current Automotive Brake System Market size?
In 2024, the Automotive Brake System Market size is expected to reach USD 32.18 billion.
Who are the key players in Automotive Brake System Market?
Bosch Mobility Solutions, Continental AG, Hitachi Astemo Ltd., Brembo S.p.A and Akebono Brake Industry Co., Ltd are the major companies operating in the Automotive Brake System Market.
Which is the fastest growing region in Automotive Brake System Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Automotive Brake System Market?
In 2024, the Asia-Pacific accounts for the largest market share in Automotive Brake System Market.
What years does this Automotive Brake System Market cover, and what was the market size in 2023?
In 2023, the Automotive Brake System Market size was estimated at USD 30.96 billion. The report covers the Automotive Brake System Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Automotive Brake System Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
What are the emerging trends in Autonomous Vehicle Brake Systems Market?
The emerging trends in Autonomous Vehicle Brake Systems Market are a) Focus on redundancy b) Fail-safe mechanisms c) Ensuring reliable braking performance for autonomous vehicles
What are the emerging trends in Autonomous Vehicle Brake Systems Market?
The emerging trends in Autonomous Vehicle Brake Systems Market are a) Focus on redundancy b) Fail-safe mechanisms c) Ensuring reliable braking performance for autonomous vehicles
What are the emerging trends in Autonomous Vehicle Brake Systems Market?
The emerging trends in Autonomous Vehicle Brake Systems Market are a) Focus on redundancy b) Fail-safe mechanisms c) Ensuring reliable braking performance for autonomous vehicles
Automotive Brake System Industry Report
The global brake system market is witnessing remarkable growth, propelled by the escalating demand for passenger and commercial vehicles, especially in emerging economies like India and China. This growth is spurred by stringent safety standards, the rising adoption of luxury automobiles, and the increasing use of disc brakes in commercial vehicles. Technological advancements such as ABS, ESC, and AEB are enhancing vehicle safety and control, responding to the global push for road safety and the reduction of traffic incidents. The shift towards electric vehicles is also driving the need for innovative braking solutions, like regenerative braking systems. The Asia Pacific region is at the forefront of this market expansion, due to high vehicle production rates and safety regulations mandating advanced braking systems. According to Mordor Intelligence™ Industry Reports, the brake system market is set for further expansion,highlighting government regulations, technological innovations, and the increasing focus on vehicle safety and efficiency as key growth drivers. Get a glimpse of this industry's future with a free report PDF download, offering insights into the market share, size, and revenue growth rate.
