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Growth at a CAGR 6.25% in the Automotive Brake System Market during the forecast period of 2018-2023| Major Players - BREMBO BRAKES, CONTINENTAL AG, DELPHI, D HELLA, TVS BRAKE LININGS CO., amongst others

04-26-2019 08:44 AM CET | Logistics & Transport

Press release from: Market Prognosis

Market Analysis:

North America to Dominate the Market
US registered a healthy CAGR of 9.9% accounting to about 45% of the global commercial vehicle sales. Mexico is the fastest growing country in North America in terms of CV sales due to the increase in logistic services in the country. The presence of major players and high initial investment cost are expected to restrict the entry of new market players.

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Increased awareness regarding safety has created a demand for advanced safety features in vehicles and technological advancements like the ABS, CBS etc. have been the major drivers behind the growth of brake industry. As brakes are continuously subjected to heat, friction etc., wear and tear is inevitable. To increase the life of brake pads, advancements in materials have also played a vital role in the growth of the market. The market will grow due to the rising demand for vehicles across the globe. Increasing purchasing power of people in many countries has created a need for quality life which has a direct impact on the demand for vehicles thereby driving the dependent automotive brakes market.

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Market Segments:
Automotive Brake System Market is segmented by:
1. Product Type: Disc Brakes, Drum Brakes
2. Brake Pad Material Type: Semi-Metallic type, Metallic type, Ceramic type
3. Sales Channel, OEM's, Aftermarket
4. Vehicle Type: Passenger car, Light Commercial Vehicles, Heavy Commercial Vehicles
5. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa

Key Developments in the Market
• March 2018: Continental AG has introduced the third generation of the anti-lock braking system (ABS3) now responds with even greater speed and precision thanks to enhanced brake pressure control.
• July 2017: Continental acquired Singapore based mobility intelligence provider Quantum Inventions, to improve its sales through mobility services by 2022.

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About Market Prognosis
We at Market Prognosis believe in giving a crystal clear view of market dynamics for achieving success in today's complex and competitive marketplace through our quantitative & qualitative research methods.
We help our clients identify the best market insights and analysis required for their business thus enabling them to take strategic and intelligent decision.
We believe in delivering actionable insights for your business growth and success.

Contact us:
ProgMark Pvt Ltd,
Thane - 421501
India.
Contact No: +1 973 241 5193
Email: sales@marketprognosis.com

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