Automotive Braking System Market is projected to be worth US$29.090 billion in 2023
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By vehicle type, the passenger vehicle segment is showing an impressive year-on-year increase, and this trend is expected to continue over our forecast period.
The Asia Pacific is expected to account for a significant share in the market.
Asia Pacific automotive braking systems market is estimated to have a significant share in terms of both value and volume in the global market and the region is further anticipated to grow during the forecast period on account of expanding automobile industry in the region. In addition, rising disposable income in the region coupled with an increased sales of luxury and premium vehicles in the market is further expected to propel the market growth opportunities for manufacturers and vendors in the coming years.
Some of the major industry players profiled as part of the report are Akebono Brake Industry Co., Continental AG, Opto Diode Corporation, Federal-Mogul Holding Co, Disc Brakes Australia, Hella Pagid GmbH, ZF Friedrichshafen AG and Carlisle Brakes and Friction among others.
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