Automotive Brake System Market Analysis

Automotive Brake System Market Analysis

Based on product, the market is segmented into disc brakes and drum brakes. The disc brakes segment held over 55% of the market share in 2023.
 

• With advancements in materials, design & manufacturing processes, disc brake technology has become more cost-effective and accessible for a wide range of vehicles including economy cars, luxury vehicles & performance cars. Disc brake systems are generally lighter in weight compared to drum brakes. This reduction in mass contributes to improved fuel efficiency, handling, and overall vehicle dynamics. For instance, in November 2023, ZF Friedrichshafen AG, a leading automotive supplier, launched an electromechanical braking system poised to revolutionize the automotive industry.
   

Based on technology, the automotive brake system market is divided into Anti-lock Braking System (ABS), Electronic Brake-force Distribution (EBD), Traction Control System (TCS), Regenerative Braking System (RBS) and Electronic Stability Control (ESC). The Anti-lock Braking System (ABS) segment accounted for 45% of the market share in 2023
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• The automotive brake system industry is experiencing a significant shift toward autonomous driving technologies. ABS has evolved over the years, becoming more sophisticated and integrated with other safety & stability control systems such as ESC. These advancements have improved ABS performance, making it more effective in various driving conditions. For instance, in April 2022, Robert Bosch GmbH announced that its local production of ABS and electronic stability program systems has surpassed 10 million units.
   

Asia Pacific automotive brake system market size is expected to register a CAGR of over 6% from 2024 to 2032. The Asia Pacific region, particularly countries such as China, India, Japan, and South Korea, has been experiencing rapid economic growth. This growth has led to an increase in disposable income levels, driving down the demand for automobiles including passenger cars and commercial vehicles.
 

Urbanization rates are rising across the Asia Pacific region, leading to an increased demand for transportation solutions. As urban populations grow, there is a high demand for automobiles, which in turn, drives the demand for automotive brake systems.