Automotive Disc Brake Market size is expected to observe high growth through 2026 with rising demand for advancement in automotive safety and driving experience. Governments across the globe, especially in developed nations like the United States, have implemented stringent mandates regarding automotive safety measures, which in turn has led to a surge in demand for efficient and sophisticated braking technologies.
Disc brakes consist of disc rotors that spin together with the stationary brake caliper assemble equipped with brake pads, and the wheel. Low cooling time, high overall capacity, cost-effective cleaning & adjustment, and operation optimization are among the key factors which will help boost industry share. In comparison to conventional braking solutions, automotive disc brakes demonstrate less vulnerability to brake fade or warping due to temperatures, which allows for optimum performance in different weather conditions.
Additionally, these systems provide a shorter and more controlled braking distance in various road conditions, resulting in better stability and occupant safety, which adds impetus to product penetration in the auto industry.
Emergence of sophisticated and progressive braking technologies such as electric-mechanical systems and boosters, among others, is a key trend augmenting automotive disc brake market dynamics. For instance, in 2019, Knorr-Bremse unveiled two next-gen disc brake technologies, dubbed SYNACT and NEXTT, designed to become global platforms. The new intelligent disc brake systems are equipped with various sensor technologies such as BCM (Brake Condition Monitoring), which facilitates condition-based predictive maintenance, as well as ACR (Active Caliper Release) capabilities, making the product suitable for autonomous driving applications.
These advancements coupled with the growing propensity of auto manufactures towards integration of disc brake in vehicles will augment industry outlook over the forecast spell.
Automotive disc brakes with floating caliper design are becoming a prominent feature in passenger cars. Simplistic properties, low weight, and economical manufacturing costs are the benefits offered by these products, which could enhance the market penetration from the segment.
APAC is set to play a key role in propelling the market share over the projected timeframe. The strong presence of automotive manufactures in the region, especially in Japan, China and India, alongside rising demand for commercial and passenger vehicles are major growth factors contributing to the regional industry outlook.
Several key participants constitute a major part of the automotive disc brake industry including Haldex, Akebono, Knorr-Bremse (Kb Holding GmbH), Federal Mogul (Tenneco), Hyundai Mobis(Hyundai Motor Group), Aisin Seiki (Toyota), Nissin Kogyo, NUCAP, EBC Brakes, Mando (Halla Group), and TRW Automotive (ZF Friedrichshafen AG).
Initiatives and strategic tactics by companies are playing a major role in the growth of the automotive disc brake market size. These tactics, including product developments and partnerships are being undertaken by major players to remain afloat in the competitive business landscape. For instance, SAF-Holland has launched a new series of disc brakes, dubbed the P89 Air Disc Brake Series. The value and premium level P89 brakes are designed for commercial vehicles and offer myriad benefits including maintenance ease, extended service intervals and advanced braking performance.
India-based company Endurance Technologies, meanwhile, has made strategic moves, including the acquisitions of Italian businesses Adler and Grimeca in April and May 2020. These acquisitions have been made to bolster the transmission and brake business capabilities of Endurance.
The automotive industry has faced a significant setback due to the COVID-19 crisis, which has severely impacted both supply and demand chains in the industry. The ripples of this impact have extended even to the ancillaries of the automobile domain, including the automotive disc brake industry, as the demand for braking systems and products is heavily dependent on the production and sale of automobiles. Thus, the disruption to automotive production caused by the ongoing crisis, as well as the overall economic downturn is likely to assert a significant impact on industry expansion. However, despite the uncertain outlook, the market share may recover once the automotive industry reaches a stage of normalcy in the post-pandemic period.