Press release
Global Brake System Market Top Leading Players with Strategies and Forecast 2028
The global brake system market is anticipated to grow at a CAGR of 6.5% during the forecast period (2022-2028). It is a mechanical or electrical device that enables a vehicle to slow down or stop as per the driver's requirement. The major factor expected to drive the market growth is the increase in sales and production of commercial vehicles and off-highway trucks, the rise in the stringency of automotive active safety regulations, and the impact of the new car assessment program (NCAP) on electronic brake systems. In addition, regulations related to loading carrying capacity and mandates on air brakes installation, the introduction of the brake-by-wire system, and the introduction of regenerative braking are some factors that drive the growth of the global brake system market. Furthermore, there is an increasing research activity to improve safety features as companies are constantly producing new and enhanced products for the comfortable and safe driving of vehicles such as anti-lock braking systems, electronic stability control, and anti-collision devices. This, in turn, is driving the market growth during the forecast period.Some major players in the market include Robert Bosch GmbH, Continental AG, and Knorr-Bremse AG, among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, new product launches, and collaborations, to stay competitive in the market. For instance, in July 2019, Continental AG entered into a partnership with Knorr-Bremse AG. The partnership is towards highly automated commercial vehicle driving for automated platooning (such as driving in a column) and with this collaboration, they are looking at what driving functions they can develop such as the formation of platoons, driving together, the emergency braking function, exiting by individual vehicles, and safe splitting up of the entire platoon.
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Market Coverage
The market number available for - 2021-2028
Base year- 2021
Forecast period- 2022-2028
Segment Covered-
By Product Type
By Distribution Channel
By End-Use
By Actuation
By Technology
Regions Covered-
North America
Europe
Asia-Pacific
Rest of the World
Competitive Landscape- Robert Bosch GmbH, Continental AG, and Knorr-Bremse AG, among others.
A full report is available at: https://orionmarketreports.com/brake-system-market/105349/
Global Brake System Market Report by Segment
By Product Type
Disc Brakes
Drum Brakes
Hydrostatic Brakes
Hydraulic Wet Brakes
Regenerative & Dynamic Braking
By Distribution Channel
Original equipment manufacturers (OEMs)
Aftermarket
By End Use
Automotive
Construction Equipment
Agricultural Equipment
Industrial Trucks
Mining Equipment
By Actuation
Hydraulic
Pneumatic
By Technology
Antilock Braking Systems (ABS)
Electronic Stability Control (ESC)
Traction Stability Control (TCS)
Electronic Brakeforce Distribution (EBD)
Key questions addressed by the report
What is the market growth rate?
Which segment and region dominate the market in the base year?
Which segment and region will project the fastest growth in the market?
How has COVID-19 impacted the market?
Deviation from the pre-COVID-19 forecast
Most affected region and segment
Who is the leader in the market?
How players are addressing challenges to sustain growth?
Where is the investment opportunity?
Media Contact:
Company Name: Orion Market Reports
Contact Person: Mr. Anurag Tiwari
Email: info@orionmarketreports.com
Contact no: +91 780-304-0404
About Us:
Orion Market Reports (OMR) endeavors to provide exclusive blend of qualitative and quantitative market research reports to clients across the globe. Our organization helps both multinational and domestic enterprises to bolster their business by providing in-depth market insights and most reliable future market trends. Our reports address all the major aspects of the markets providing insights and market outlook to global clients.
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