Dublin, May 13, 2024 (GLOBE NEWSWIRE) -- The "Global Automotive Brake Systems Market by Type (Disc, Drum), Technology (ABS, ESC, TCS, EBD, AEB), OHV Brakes (Hydraulic Wet, Hydrostatic, Dynamic), On & Off-Highway Vehicles & Electric Vehicles, Component, Actuation and Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global automotive brake systems market is estimated to grow from USD 23.5 billion in 2023 to USD 30.1 billion by 2028 at a CAGR of 5.1% during the forecast period.
The demand for automotive brake systems is growing because governments worldwide are mandating the installation of vehicle safety features such as ABS, ESC, TCS, and EBD. This has strongly driven the electronic brake system market. The growing popularity of high-end and luxury cars would further fuel this demand. Countries like India, China, Brazil, Mexico, and Argentina focus on enhanced automotive safety standards. However, the high maintenance and repair costs can hinder market growth, especially in developing countries.
Agricultural tractors will dominate the off-highway brake system market in 2023
Agricultural tractors hold the largest market for brakes during the forecast period. Agricultural tractors are widely used in wet and muddy farmlands, and hence, drum brakes are unsuitable for achieving the desired performance as they get heated quickly and experience friction loss. Due to their robustness and effectiveness in handling heavy-duty applications, hydraulic wet brakes are predominantly preferred in agriculture tractors. These brakes ensure reliable stopping power and durability, essential for challenging terrains and rigorous usage. They are also preferred for farming due to low maintenance requirements and no major price difference compared to dry disc brake systems.
Presently, a high installation rate of hydraulic wet brakes (more than 80%) exists in agricultural tractors, mostly equipped on the rear axle. According to insights from industry experts, drum brakes find application in less than 30 horsepower tractors, mainly in emerging economies of the Asia Pacific region. Initially, a hydraulic single-line brake system was installed in tractors. However, the new tractor models are equipped with dual-line braking systems, considered a suitable option for running at speeds of 40 km/h and above. The increasing levels of farm mechanization and anticipated advancements in braking technology will subsequently spur the growth of the agricultural tractor brake system market.
The Pneumatic System market is analyzed to grow at the fastest growing brake actuation type
The pneumatic brake system is popular in the heavy-duty trucks and bus segments as it offers superior performance, safety, efficiency, and strict regulation compliance, making it an ideal choice for heavy-duty applications. As global heavy vehicle manufacturers and braking companies strongly emphasize safety and performance, they embrace air brake technology, ensuring their trucks meet the demanding requirements of various industries and sectors, including construction, logistics, and transportation. The US has mandated pneumatic brake systems for heavy truck applications for stopping distance since August 2013. For these heavy truck tractors, the amended standard requires those vehicles to stop at not more than 250 feet when loaded to their gross vehicle weight rating (GVWR) and tested at 60 miles per hour (mph).
Further, these regulations demand brake systems compatible with ABS and ESC, as manufacturers must meet the regulatory standards. With ongoing technological progress, there is a growing demand for brake systems that integrate ABS and ESC as vehicle manufacturers strive to incorporate the latest safety features. Some OEMs, such as Daimler AG, Volvo, and PACCAR, offer anti-lock braking systems with air disc brakes in their commercial truck models, such as Freightliner Cascadia, Volvo VNL, and Kenworth T680. Thus, the integration of ABS and ESC technologies in the brake systems of heavy commercial vehicles will bring a positive growth trajectory to allow brake manufacturers to increase their business venture in pneumatic brake systems.
North America holds the largest market share in the ATV brake system market during the forecast period
ATVs are used in multiple sports, agriculture, military & defense, and construction applications. Hydraulic disc brake systems are primarily fitted in ATVs due to their effectiveness in providing reliable stopping power across diverse terrains. Hydraulic disc brakes excel in off-road conditions, offering precise control and responsiveness. Other benefits include improved heat dissipation, reduced fade during prolonged use, and the ability to handle the varying demands of different terrains. Major ATV manufacturers such as Polaris, Honda, and Textron offer models loaded with hydraulic disc brakes to optimize performance. Owing to their advantages and ongoing developments to diversify the usage of ATVs, the demand for hydraulic disc brake systems is expected to notice a positive growth trend in the upcoming years.
North America has the largest share of the ATV market owing to increasing recreational activities, government support for off-road racing such as desert racing, and dirt racing, and growing demand for ATVs in military and farm applications. Thus, with growing sales of ATVs in North America for a variety of applications, the demand for brake systems for ATVs in North America will increase.
North America will be the second largest automotive brake system market during the forecast period
North America holds the 2nd largest market after Asia Pacific in the automotive brakes market, in which the US dominates the regional market, followed by Mexico and Canada. Owing to customers' preferences towards luxury and sports vehicles, the adoption of all disc brakes in passenger cars, SUVs, and pick-up trucks has grown significantly in recent years. North American countries are incorporating ADAS functions in their vehicles, and OEMs in the US have voluntarily taken initiatives to include AEB in the latest production vehicles. For instance, according to the NHTSA, 20 automakers in the US made AEB standards in 50% of their 2017 models. These automakers pledged to include AEB in all new US vehicles in the coming years.
Following the European scenario, many regional OEMs such as Ford General Motors and other players such as Toyota, Honda, Hyundai, and Mitsubishi have incorporated AEB in many current product lineups, and more are expected to join the force to remain competitive in the market. This is likely to boost the penetration of electronic braking systems due to their regulations complying with advanced braking system regulations stipulated in the US FMVSS105 guidelines. Thus, with the implementation of stringent safety standards and the inclination for efficient braking solutions, the demand for automotive brake systems is expected to grow further in North American countries.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 328 |
| Forecast Period | 2023-2028 |
| Estimated Market Value (USD) in 2023 | $23.5 Billion |
| Forecasted Market Value (USD) by 2028 | $30.1 Billion |
| Compound Annual Growth Rate | 5.1% |
| Regions Covered | Global |
Premium Insights
- Stringency of Safety Standards and Car Assessment Programs to Drive Advancements in the Brake Technology
- Disc Brakes Segment to Have Larger Market Size During Forecast Period
- ABS Segment to Lead Market, by Volume, in 2023
- Hydraulic Segment to Dominate Market During Forecast Period
- Brake Pads Segment to Have Largest Market Size During Forecast Period
- Passenger Cars Segment to Lead Market During Forecast Period
- Battery Electric Vehicles Segment to Dominate Market Throughout Forecast Period
- Hydraulic Wet Brakes Segment to Account for Largest Market Size During Forecast Period
- Agricultural Tractors Segment to Command Fastest Growth During Forecast Period
- North America to Lead Market from 2023 to 2028
- Asia-Pacific to Register Highest CAGR During Forecast Period
Market Dynamics
- Drivers
- Increased Emphasis on Road Safety
- Stringency of Government Regulations to Reduce Stopping Distance in Light-Duty and Heavy-Duty Vehicles
- Growth in Demand for Off-Highway Heavy-Duty Trucks
- Increasing Adoption of Advanced Brake Systems for Enhanced Vehicle Safety
- Integration of Adaptive Cruise Control in Electronic Braking Systems for Improved Vehicle Handling
- Implementation of New Car Assessment Program (NCAP)
- Restraints
- High Development and Maintenance Costs of Advanced Braking Technology
- Opportunities
- Rising Adoption of Brake-By-Wire Systems
- Government Regulations to Make Advanced Emergency Braking Systems Mandatory.
- Increasing Use of Regenerative Braking Systems in EV Ecosystem
- Challenges
- Malfunctioning of Electronic Braking Systems
- Freezing of Air Brakes at Low Temperatures
Case Study
- Use of High-Content Kelvar Materials to Increase Clutch Brake Performance
- Failure of ABS Technology
- Knorr-Bremse AG Faced Several Challenges in Developing Its Brake Systems
- Development of Air Brake Systems for Commercial Vehicles
Companies Profiled
- Continental AG
- Robert Bosch GmbH
- ZF Friedrichshafen AG
- Akebono Brake Industry Co. Ltd.
- Brembo S.p.A.
- 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
- EBC Brakes
- NIFO Srl
- BWI Group
- Meritor, Inc.
- Brake Parts Inc. LLC
- Bludot Manufacturing
- SilverbackHD
- Metelli S.p.A.
- Advics Co. Ltd.
- Knott Brakes
- Carlisle Brake & Friction
For more information about this report visit https://www.researchandmarkets.com/r/1w339
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