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Automotive Brake System Market Trends

Report ID: GMI8291
Published Date: Feb 2024
Report Format: PDF

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Automotive Brake System Market Trends

There is a growing demand for brake systems that integrate advanced safety features such as Electronic Stability Control (ESC), Anti-Lock Braking Systems (ABS), Brake Assist Systems (BAS), and collision avoidance systems. These features enhance vehicle stability, reduce the risk of skidding, and improve overall safety. For instance, in January 2022, Mando Corporation launched an electronic brake system, IDB2 (for highly autonomous driving). The IDB2 system integrates dynamic brake functionality with advanced electronic control systems to deliver unparalleled performance and safety.

The emergence of autonomous driving technology has significant implications for brake systems. Brake systems are being designed to integrate seamlessly with autonomous driving features such as automatic emergency braking, adaptive cruise control, and lane-keeping assist systems. These systems rely on advanced sensors & algorithms to detect potential hazards and assist in collision avoidance.

For instance, in May 2023, to enhance road safety, the U.S. government proposed the mandatory inclusion of Automatic Emergency Braking (AEB) in all new passenger cars and light trucks. This initiative is anticipated to have a profound impact, significantly reducing the occurrence of crashes associated with pedestrians and rear-end collisions.

Authors: Suraj Gujar , Deeksha Vishwakarma

Frequently Asked Questions (FAQ) :

The market size of automotive brake system surpassed USD 24 billion in revenue in 2023 and is set to witness 5.5% CAGR from 2024 to 2032, owing to the ongoing advancements in brake system technologies like the development of electronic braking systems, regenerative braking systems, and brake-by-wire systems.

The disc brakes segment accounted for over 55% revenue share in 2023, owing to advancements in materials, design & manufacturing processes.

Asia Pacific market is poised to expand at 6% CAGR from 2024 and 2032, driven by the surging demand for automobiles, including passenger cars and commercial vehicles in the region.

Some of the top companies operating in the industry are Robert Bosch GmbH, Continental AG, ADVICS CO., LTD., AKEBONO BRAKE INDUSTRY CO., LTD., Hitachi Astemo Ltd., AISIN CORPORATION, and Syensqo.