Brake System Market to Hit $61.20 Billion by 2027: Allied Market Research

Growth in production & sales of commercial vehicles and off-highway trucks, rise in stringency of automotive active safety regulations, and initiatives of new car assessment program (NCAP) on electronic brake systems proliferate the growth of the global brake system market. Moreover, the market across Asia-Pacific region dominated the market in 2019, and would lead the trail throughout the forecast period.


Portland, OR, Feb. 08, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global brake system industry estimated $41.62 billion in 2019, and is expected to hit $61.20 billion by 2027, witnessing a CAGR of 7.0% from 2020 to 2027. The report provides a detailed analysis of changing market dynamics, top investment pockets, major winning strategies, key segments, and competitive scenarios.

Growth in production & sales of commercial vehicles and off-highway trucks, rise in stringency of automotive active safety regulations, and initiatives of new car assessment program (NCAP) on electronic brake systems proliferate the growth of the global brake system market. On the other hand, high development cost of electronic brake systems and huge maintenance costs hamper the growth to certain extent. Nevertheless, stringent regulations regarding load carrying capacity, mandates on air brakes installation, and advent of the brake-by-wire system and regenerative braking usher a wide array of opportunities for the market players.

Download Report Sample at https://www.alliedmarketresearch.com/request-sample/1024

Covid-19 Scenario-

  • The covid-19 outbreak has immensely affected the industry, as most of the original equipment manufacturers (OEM) have kept the production of brake systems on hold.
  • The supply chain management has been disrupted resulting in shortage of raw materials. The demand from automotive industry has decreased significantly during lockdowns.
  • However, the manufacturers have started reprocessing their activities as government bodies in several regions have eased off the regulations.

Get detailed COVID-19 impact analysis on the Brake System Market Request Here!

The global brake system market is segmented on the basis of product type, sales channel, end use, and region. Based on product type, the market is further segmented into disc brakes, drum brakes, hydrostatic brakes, hydraulic wet brakes, and regenerative & dynamic braking. The drum brakes segment held the highest market share in 2019, with nearly half of the total share market, and is projected to continue its dominance during the forecast period. On the other hand, the regenerative & dynamic braking segment is expected to showcase the fastest CAGR of 9.8% from 2020 to 2027.

Based on end use, the market is classified into automotive, construction equipment, agricultural equipment, industrial trucks, and mining equipment. The automotive segment accounted for the largest market share, with more than half of the total share of the global brake system market in 2019, and is anticipated to uphold its leadership by 2027. In addition, the same segment is estimated to manifest the highest CAGR of 7.6% during the forecast period.

Interested to Procure The Data? Inquire here at https://www.alliedmarketresearch.com/purchase-enquiry/1024

Based on region, the market is analyzed across regions including Asia-Pacific, Europe, LAMEA, and North America. The Asia-Pacific region held lion’s share by generating more than two-fifths of the total share in 2019, and will maintain its lead position throughout 2027. Furthermore, this region is also projected to grow at the highest CAGR of 8.0% from 2020 to 2027.

The frontrunners profiled in the brake system market report include AISIN SEIKI Co., Ltd., CONTINENTAL AG, BREMBO S.P.A., Delphi Technologies, Hitachi Automotive Systems, Ltd., HALDEX, KNORR-BREMSE AG, Robert Bosch GmbH, Nissin Kogyo Co., Ltd., and ZF FRIEDRICHSHAFEN AG.

Schedule a Free Consultation Call with Our Analysts/Industry Experts to Find Solution for Your Business at https://www.alliedmarketresearch.com/connect-to-analyst/1024


Similar Reports We Have on Automotive & Transportation Industry:

Brake Override System Market by Sensor Technology (Radar, LiDAR, Camera, Infrared, and Ultrasonic) and Vehicle Type (Passenger Cars and Commercial Vehicles) - Global Opportunity Analysis and Industry Forecast, 2017-2023.

Air Brake System Market by Type (Air Disc Brake, Air Drum Brake), Component (Compressor, Governor, Tank, Air Dryer, Foot Valve, Brake Chamber, Slack Adjuster, and Others), and Vehicle Type (Trucks, Bus, and Rolling Stock): Global Opportunity Analysis and Industry Forecast, 2018–2026.

Automotive Brake System Market by Type (Disc and Drum), Technology (Antilock Braking System (ABS), Traction Control System (TCS), Electronic Stability Control (ESC), and Electronic Brake Force Distribution (EBD)), Vehicle Type (Passenger ICE Vehicle, Commercial ICE Vehicle, and Electric Vehicle), and Sales Channel (OEM and Aftermarket): Global Opportunity Analysis and Industry Forecast, 2019–2026.

Automotive Brake Pad Market by Material Type (Semi-Metallic, Non-Asbestos Organic (NAO), Low-Metallic and Ceramic), Position Type (Front and Front & Rear), Sales Channel (Original Equipment Manufacturer (OEM) and After-market), and Vehicle Type (Passenger Vehicles, Light Commercial Vehicles and Heavy Commercial Vehicles): Global Opportunity Analysis and Industry Forecast, 2020–2027.

Automotive Brake Valves Market by Type (Engine (Inlet & Outlet) Valves, AC Valve, Brake Valve, Thermostat Valve, Fuel System Valve, Solenoid Valve, Exhaust Gas Recirculation Valve, Tire Valve, Water Valve and AT Control Valve), Application (Engine System, HVAC System and Brake System), Function (Electric, Pneumatic and Hydraulic) and Vehicle (Passenger Cars, Light Commercial Vehicles and Heavy Commercial Vehicles): Global Opportunity Analysis and Industry Forecast, 2021–2027.


About Allied Market Research

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.

Contact:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com

Web: www.alliedmarketresearch.com

Allied Market Research Blog: https://blog.alliedmarketresearch.com

Follow Us on | Facebook | Twitter | LinkedIn |