PUBLISHER: 360iResearch | PRODUCT CODE: 1491621
PUBLISHER: 360iResearch | PRODUCT CODE: 1491621
[195 Pages Report] The Automotive Brakes Market size was estimated at USD 25.65 billion in 2023 and expected to reach USD 27.22 billion in 2024, at a CAGR 6.19% to reach USD 39.06 billion by 2030.
Automotive brakes are an essential component of any vehicle, designed to slow down or stop a moving car safely and efficiently. They create friction between the brake pads and the wheels or a drum to reduce the vehicle's speed. This system is crucial for ensuring the safety of passengers and pedestrians alike. Several brakes are commonly used in vehicles, including disc and drum brakes. The effectiveness of automotive brakes is vital for preventing accidents and maintaining proper vehicle control while driving. Increased global vehicle production and sales and rising safety regulations and standards push car manufacturers to upgrade their brake systems, increasing demand. However, high maintenance and replacement costs can hamper the adoption. Nevertheless, rising demand for electric and hybrid vehicles, advancements in autonomous vehicle technology, and partnerships between automotive companies, universities, and research institutions are expected to create opportunities for innovation in automotive brake materials and technology.
KEY MARKET STATISTICS | |
---|---|
Base Year [2023] | USD 25.65 billion |
Estimated Year [2024] | USD 27.22 billion |
Forecast Year [2030] | USD 39.06 billion |
CAGR (%) | 6.19% |
Regional Insights
The automotive brake market in the Americas is characterized by stringent safety regulations and the growing demand for performance vehicles. Customers in these regions prioritize safety features, leading to a trend towards advanced braking systems such as anti-lock braking systems (ABS) and electronic stability control (ESC). The market has showcased substantial investments in research and development of more efficient and eco-friendly braking solutions, including innovations such as regenerative braking systems in electric and hybrid vehicles, which are gaining traction. The European market is highly regulated, strongly emphasizing reducing vehicle emissions and enhancing road safety. The presence of significant automotive manufacturers and suppliers who continuously invest in technology advancement plays a crucial role in the market dynamics. The EU regulations pushing for lower-emission vehicles coincide with the introduction of advanced technologies in braking systems. The Middle East, with its wealthier economies, such as the UAE and Saudi Arabia, demands luxury and performance vehicles that necessitate advanced braking systems. In Africa, the focus is more on affordability, and the adoption rates for advanced technology are comparatively slower, although the demand for automobiles is steadily growing. Asia-Pacific shows a rapid adoption of advanced braking mechanisms due to urbanization and increased vehicle production. Furthermore, the APAC region focuses heavily on innovation and has numerous electronic and automated braking system patents.
Market Insights
The market dynamics represent an ever-changing landscape of the Automotive Brakes Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
FPNV Positioning Matrix
The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Automotive Brakes Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Automotive Brakes Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Recent Developments
Aequita Group Acquires Bosch's Brake Component Division, Reinforcing Its Automotive Portfolio
Aequita Group acquired the brake components business from Bosch. This acquisition includes the operational facilities based in Munich, Germany, alongside the unit's 2,000 employees, who will now transition to Aequita. This deal marks a pivotal shift for Aequita, a Munich-based investment group known for revitalizing and enhancing the value of the companies it acquires. Bosch has decided to divest this segment of its business to focus more on its core operations and future technologies. The transaction, finalized at the close of 2022, highlights Aequita's commitment to investing in and growing its portfolio within the automotive sector, ensuring continuity and innovation in producing essential brake components. [Published On: 2024-02-07]
Disc Brakes Australia Partners with Motorsport Australia for Enhanced Racing Performance
Disc Brakes Australia (DBA) joined forces with Motorsport Australia, aiming to elevate the standards of braking performance in competitive racing. This collaboration sees DBA, become the official brake partner for Motorsport Australia's events throughout the year. This alliance underscores DBA's commitment to advancing brake technology in high-stress racing environments and ensures that Motorsport Australia's sanctioned events are equipped with top-tier, reliable braking solutions. This partnership represents a significant step in promoting safety and performance in Australian motorsports, enhancing the competitive edge of participants through integrating DBA's high-quality brake components. [Published On: 2024-01-22]
ZF Introduces Innovative Electromechanical Dry Brake System for Enhanced Vehicle Safety and Sustainability
ZF unveiled an advanced electromechanical dry brake system designed to enhance braking performance while aligning with sustainability goals significantly. This innovative system leverages electric actuation to replace traditional hydraulic brakes, offering precise braking control and improved functionality in various driving conditions. A notable feature of this system is its ability to recuperate energy, which contributes to increased overall vehicle efficiency, particularly in electric and hybrid vehicles. Furthermore, the system's dry brake approach eliminates the need for hydraulic fluids, thereby reducing potential environmental hazards and maintenance requirements. [Published On: 2023-11-16]
Strategy Analysis & Recommendation
The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Automotive Brakes Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
Key Company Profiles
The report delves into recent significant developments in the Automotive Brakes Market, highlighting leading vendors and their innovative profiles. These include Aisin Corporation, Akebono Brake Industry Co., Ltd., AP Racing Ltd., Baer Inc., Bendix Commercial Vehicle Systems LLC, Brembo S.p.A., Carlisle Companies Incorporated, Continental AG, Federal-Mogul Corporation, Freeman Automotive Ltd., Haldex AB, Hitachi, Ltd., Hyundai Mobis Co., Ltd., Knorr-Bremse AG, Mando Corporation, MAT Holdings, Inc., Meritor Heavy Vehicle Systems, LLC, Performance Friction Corporation, Robert Bosch GmbH, SGL Carbon SE, Sumitomo Riko Company Limited, TMD Friction Holdings GmbH, WABCO Holdings Inc., Wilwood Engineering, Inc., and ZF Friedrichshafen AG.
Market Segmentation & Coverage