Global Automotive Brake Components Market Size By Product Type (Brake Caliper, Brake Shoe, Brake Line), By Vehicle Type (Passenger Car, Light Commercial Vehicle, Medium & Heavy Commercial Vehicle), By Geographic Scope And Forecast

Automotive Brake Components Market Size And Forecast

Automotive Brake Components Market size was valued at USD 91.36 Billion in 2021 and is projected to reach USD 150.14 Billion by 2030, growing at a CAGR of 5.67% from 2023 to 2030. Technological advancements and increasing adoption of generative braking and ABS, increasing manufacturing ability have made the automotive industry design and manufacture effective braking components, thus increasing vehicle production across the globe and fueling Global Automotive Brake Components Market. The Global Automotive Brake Components Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Automotive Brake Components Market Definition

The brake can be defined as a mechanical device that inhibits motion by absorbing energy from a moving system. Brakes are used for slowing or stopping moving vehicles, ale, and wheels and are most often accomplished by means of friction. Some vehicles use a combination of break mechanisms like drag racing cars with both wheel brakes and parachutes & airplanes with both wheels' brakes. Almost all wheels have some sort of brake, and friction brakes are the most common which are further divided into shoe and pad brakes. Friction brakes are often rotation devices with stationary pads and rotation ear surfaces.

Drum brakes are generally found in older cars and trucks but due to drum brake setup and production cost nowadays modern disc brakes are used. Brake discs are made up of cast iron or ceramic which is connected to the wheel or axle. To stop the wheel, friction material is used in the form of brake pads. Foundation components for brake assembly are "S" cam brakes, disc brakes, and wedge brakes. By technology brake system is classified as Anti-Lock Braking System (ABS), Electronic Stability Control (ESC), Traction Control System (TCS), and Electronic Brake-Force Distribution (EBD).

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Global Automotive Brake Components Market Overview

For stopping distance and pedestrian protection, implementation of regulation by regulatory authorities around the world is concerned with safety hence manufacturers are more focused on the development of disc brake solutions as per new regulations regarding stopping distance is fueling the growth of the Global Automotive Brake Components Market. Furthermore, New Car Assessment Program (NCAP) is a safety program for new cars. NCAP awards ratings to new cars based on their performance in the test.

Moreover, growing concern for deaths due to accidents across the world has prompted an increase in the stringency of safety regulations. For instance, an agency of the U.S. Department of Transportation (DOT) and the National Highway Traffic Safety Administration (NHTSA) has mandated the adoption of Automatic Emergency Braking (AEB) in 2022.

However, requirements of high capital investment for the commercialization of new braking technologies are anticipated to restrict the market growth of the Global Automotive Brake Components Market. On the other hand, the automotive industry is focusing on environment-friendly developments of technology, thus various approaches such as weight reduction are expected to generate lucrative opportunities for Global Automotive Brake Components Market during the forecasted period.

Global Automotive Brake Components Market: Segmentation Analysis

The Global Automotive Brake Components Market is segmented on the basis of Product Type, Vehicle Type, and Geography.

Automotive Brake Components Market, By Product Type

• Brake Caliper
• Brake Shoe
• Brake Line
• Others

Based on Product Type, The market is segmented into Brake Caliper, Brake Shoe, Brake Line, and Others. Brake shoes are placed inside the brake drum which typically lasts much longer than brake pads. Brake linings are consumable surfaces in brake systems and brake pads are black material held by a red brake caliper.

Automotive Brake Components Market, By Vehicle Type

• Passenger Car
• Light Commercial Vehicle
• Medium & Heavy Commercial Vehicle

Based on Vehicle Type, The market is segmented into Passenger Car, Light Commercial Vehicle, and Medium & Heavy Commercial Vehicle. Among this entire segmentation, the passenger cars segment is expected to grow at the fastest pace during the forecasted period due to the rapid increase in the adoption of safety systems in passenger cars and the increasing demand for brake systems in passenger cars where braking function coupled with other active and passive safety systems assists the driver to avoid car crashes.

Automotive Brake Components Market, By Geography

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• Latin America
• On the basis of Geography, The Global Automotive Brake Components Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. Asia-Pacific is expected to grow at the highest CAGR during the forecasted period as this region is prominently led by agricultural activities and tractor segment thus; the high requirement of farming tools and growing mechanized farming is boosting demand for Automotive Brake Components in the region.

Key Players

• The "Global Automotive Brake Components Market" study report will provide valuable insight with an emphasis on the global market. The major players in the market are
• Robert Bosch GmbH, Continental AG, Akebono Brake Corporation, ZF Friedrichshafen AG, Federal-Mogul Holdings LLC, Hitachi Automotive Systems, Ltd, Aisin Seiki Co. Ltd, Wabco Holdings Inc., ADVICS CO., LTD., Brembo S.p.A., Delphi, Valeo S A.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis.

• Ace Matrix Analysis
• The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as
• Active, Cutting Edge, Emerging, and Innovators.
• Market Attractiveness
• The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Global Automotive Brake Components Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.
• Porter's Five Forces
• The image provided would further help to get information about Porter's five forces framework providing a blueprint for understanding the behavior of competitors and a player's strategic positioning in the respective industry. Porter's five forces model can be used to assess the competitive landscape in the Global Automotive Brake Components Market, gauge the attractiveness of a certain sector, and assess investment possibilities.