The recent analytical report published by Markntel Advisors (a leading consulting, data analytics, and market research firm), Market comprises a detailed study of critical and major aspects of market dynamics, i.e. market trends, size, forecasts, growth factors, challenges, and competitor landscape.

In-Depth Market Overview of Global Automotive Brake System Market (2024-2030):

According to the latest report, the Global Automotive Brake System Market size was valued at USD 23.25 billion in 2023 and is estimated to grow at a CAGR of around 6.1% during the forecast period, i.e., 2024-30. The report demonstrates the prominent factors propelling the exponential growth of the Global Automotive Brake System Market.

Key Takeaways: Beneficial for Stakeholders and Clients

• Historic Period: 2019-2022
• Base year: 2023
• Forecast Years: 2024-2030
• CAGR (2024-30): 6.1%
• Market Value (2023): USD 23.25 Billion

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What are the major Driver the Global Automotive Brake System Market?

Increasing Adoption of ABS by Automotive Manufacturers to Amplify Market Growth – Road Accidents are common in several regions and these accidents are one of the leading causes of deaths across the globe. Based on a survey by the World Health Organization (WHO), every year more than 1 million individuals die due to road accidents. These accidents are majorly caused by overspeeding & vehicle component failure. Therefore, it has become of utmost importance for individuals to look for vehicles that ensure safety. As a result, several automotive manufacturers are increasingly adopting automotive brake systems since these barking systems provide better performance than conventional brakes. In addition, these accidents impact the individuals economically & emotionally. Therefore, the governing authorities are encouraging automotive manufacturers to adopt technologically advanced systems that ensure the safety of individuals. Therefore, the automakers are increasingly incorporating these advanced brakes within their vehicles, enhancing the Global Automotive Brake System market.

In addition, the awareness among consumers regarding their own safety is also generating the demand for vehicles equipped with these advanced systems. Therefore, to cater to this growing demand, automakers would continue to install these brakes into their newly launched & existing vehicle modes, uplifting the Global Automotive Brake System market in foreseen years as well.

Global Automotive Brake System Market Segmentation

The Global Automotive Brake System Market analysis of MarkNtel Advisors explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic. The further bifurcations are as follows:

• By Brake Type
• Disc Brakes- Market Size & Forecast 2019-2030, (USD Million)
• Drum Brakes- Market Size & Forecast 2019-2030, (USD Million)
• Hydrostatic Brakes- Market Size & Forecast 2019-2030, (USD Million)
• Hydraulic Wet Brakes- Market Size & Forecast 2019-2030, (USD Million)
• Dynamic Brakes- Market Size & Forecast 2019-2030, (USD Million)
• Others- Market Size & Forecast 2019-2030, (USD Million)
•  By Technology
• Anti-lock Braking System (ABS)- Market Size & Forecast 2019-2030, (USD Million)
• Electronic Stability Control (ESC)- Market Size & Forecast 2019-2030, (USD Million)
• Traction Control System (TCS)- Market Size & Forecast 2019-2030, (USD Million)
• Electronic Brakeforce Distribution (EBD)- Market Size & Forecast 2019-2030, (USD Million)
• Automatic Emergency Braking (AEB)- Market Size & Forecast 2019-2030, (USD Million)
•  By Vehicle Type
• Passenger Cars- Market Size & Forecast 2019-2030, (USD Million)
• Light Commercial Vehicles- Market Size & Forecast 2019-2030, (USD Million)
• Trucks- Market Size & Forecast 2019-2030, (USD Million)
• Buses- Market Size & Forecast 2019-2030, (USD Million)
•  By Actuation Type
• Hydraulic- Market Size & Forecast 2019-2030, (USD Million)
• Pneumatic- Market Size & Forecast 2019-2030, (USD Million)
•  By Component
• Master Cylinders- Market Size & Forecast 2019-2030, (USD Million)
• Brake Pads- Market Size & Forecast 2019-2030, (USD Million)
• Brake Shoes- Market Size & Forecast 2019-2030, (USD Million)
• Brake Calipers- Market Size & Forecast 2019-2030, (USD Million)
• Brake Disc Rotors- Market Size & Forecast 2019-2030, (USD Million)
•  By Electric Vehicle Type
• Battery EVs- Market Size & Forecast 2019-2030, (USD Million)
• Plug-in Hybrid EVs- Market Size & Forecast 2019-2030, (USD Million)
•  By Application
• Agricultural Tractors- Market Size & Forecast 2019-2030, (USD Million)
• Construction Equipment- Market Size & Forecast 2019-2030, (USD Million)
• Mining Equipment- Market Size & Forecast 2019-2030, (USD Million)
•  By Region
• North America
• South America
• Europe
• The Middle East & Africa
• Asia-Pacific

As per the regional aspect, the Global Automotive Brake System Market is expected to be dominated by the North America by capturing the potential market share. 

Explore further details about this research report-

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Top Companies in the Global Automotive Brake System Market

Brembo S.p.A., Continental AG, ZF Industrial Technology Division,   Robert Bosch Gmbh, Akebono Brake Industry Co., Ltd., Aisin Seiki   Co.,  Ltd., Hitachi Astemo Ltd., Knorr-Bremse Ag, Haldex Ab, Denso   Corporation, Mando Corporation, Hyundai Mobis Co., Ltd., Wuhan   Youfin Auto Parts Co., Ltd., Bethel Automotive Safety System Co., Ltd.   (WBTL), Beringer, Others

Global Automotive Brake System Industry Recent Development

• 2023: Brembo S.p.A. introduced Greenance, a cutting-edge brake kit tailored for light commercial vehicles. With over three times the lifespan of current aftermarket alternatives, Greenance slashes particulate emissions by over 80%. This innovative kit strikes a balance between efficiency and durability, significantly reducing environmental impact during braking.

• 2023: Continental AG launched its latest conventional electronic brake system, the MK 120 Electronic Stability Control. It has commenced supplying this system to Chinese automaker Changan.

• 2023: ZF Industrial Technology division unveiled its innovative brake-by-wire system that would integrate into vehicles supporting heavy-duty industries like construction, mining, and agriculture.

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