Global Automotive Brakes Market to Reach USD 42.13 billion CAGR of 6.5% by 2028

"The global Automotive Brakes Market is projected to reach USD 42.13 billion by 2028, growing at a CAGR of 6.5% during the forecast period. The main function of automotive brakes is to reduce vehicle speed and halt the vehicle. In recent years, the development of smart braking systems has resulted in a decrease in the number of accidents. These new technologies enable a driver to control the speed of the vehicle more safely and efficiently without vehicle skidding. Also, it has ensured better control of vehicles at higher speed limits.

New Research on the Automotive Brakes Market was conducted across a variety of industries in various regions to produce more than 300+ page reports. This study is a perfect blend of qualitative and quantifiable information highlighting key market developments, industry and competitors' challenges in gap analysis and new opportunities and may be trending in the Automotive Brakes Market. Some are part of the coverage and are the core and emerging players being profiled. The key market players are: Aisin Seiki Co. Ltd., Continental AG, Robert Bosch GmbH, Disc Brakes Australia, Hitachi Automotive Systems, Akebonbo Brake Industry Co., Brembo SpA, and ZF Friedrichschafen AG.

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In addition, the experts behind this study show that this well-developed record is a development of high-end research activities and a compilation of evaluations of a variety of key components acquired by different instruments that are gradually shaping the growth of the Automotive Brakes industry. Furthermore, the study covers the evaluation of the degree of geographical growth, sector size, investment data, market value and benefit analysis.

Key Factors Impacting Market Growth:

• Government regulations pertaining to vehicle safety

• Growing demand and awareness for safer vehicles

• Technological advancements in braking systems

• Growth of the automobile industry

• High demand in the aftermarket

One of the biggest factors giving rise to the automotive brakes market is the rapidly growing automobile industry worldwide. More advanced and powerful engines have been developed to provide higher torque. This makes brakes an all-important component in controlling the vehicles thus increasing their market demand. Growing concerns over road traffic accidents and numbers of fatalities have affected important players in the market for automotive brake systems to incorporate solid safety characteristics in vehicle development. Also, stringent government regulations pertaining to vehicle safety in many regions are expected to augment the automotive brakes market. NHTSA (National Highway Traffic Safety Administration), an agency of U.S. DOT (Department of Transportation) plans on mandating the adoption of AEB (Automatic Emergency Braking) in vehicles from 2022.

Key Developments:

• In September 2018, under its TRW brand, ZF Aftermarket (Germany) introduced the first brake pad specifically designed for Electric Vehicles. With a staggering 97 percent of the European electric car parc covered within months of launch, including Tesla and Nissan Leaf, demand is only set to increase. The program, known as Electric Blue, will be expanded with products for a hybrid that is already in the testing process.

• In March 2018, ZF Friedrichschafen(Germany) acquired Wabco which is a leading global supplier of braking control systems, technologies, and services that improve safety, efficiency, and connectivity of commercial vehicles including trucks, buses, and trailers.

• In June 2019, Hitachi Automotive Systems Ltd. acquired Chassis Brakes International BV. This acquisition will strengthen its chassis and safety systems capabilities and also enhance the company's motion control capabilities.

Following are the insights contained in the report:

Product Development and Innovation

Detailed insights on the upcoming technologies, product launches as well as research and development activities in the global market.

Market Penetration

In-depth information on the product portfolios of the key market players in the global Automotive Brakes market.

Market Development

Comprehensive analysis of the emerging market. The report also studies the market for different segment of the regions. The Automotive Brakes Market is segmented By Technology (Anti-Lock Braking System, Electronic Stability Control, Traction Control System, Electronic Brake-Force Distribution), By Vehicle Type (Passenger, Commercial, Electric, Defense, Construction, Farm Tractors, Others), By Brake Type (Disc, Drum)

Market Diversification
Exhaustive details about the new product design, development, untapped geography as well as investment in the Automotive Brakes Market. Regions covered in this report are:

North America: US, Canada, Mexico,

Europe: Germany, Russia, UK, France, Italy, Spain, the Netherlands, Rest of Europe

Asia Pacific: China, India, Japan, South Korea, Australia, Indonesia, Rest of Asia Pacific

Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa

South America: Brazil, Argentina, Colombia, Rest of South America

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Quantifiable data:
• Automotive Brakes Market Market Data Breakdown by Key Geography, Type & Application, / End-User
• Automotive Brakes Market By type
• Automotive Brakes Market Market-Specific Applications Sales and Growth Rates (Historical & Forecast)
• Automotive Brakes Market revenue and growth rate by market (history and forecast)
• Automotive Brakes Market market size and growth rate, application and type (past and forecast)
• Sales revenue, volume and Y-O-Y growth rate (base year) of Automotive Brakes Market market,

Key Pointers Guide for Market Research Report:

● The market research report provides an in-depth overview and analytical response gauging into the changing dynamics of the global Automotive Brakes Market market. The vendor landscape has also been analysed to study every minute details and its impact in traversing a healthy growth outlook.

● A detailed evaluation and assessment by shedding light on the historical growth tendencies and current developments have been monitored closely and penned in the report for ensuring future-ready vendor activities which encourage growth through the forecast span.

● It acts as a guide to aspiring new entrants and competent players to attain decisive perspectives leveraging growth as well as investment returns.

● A section on the geographical scope and developments have been roped in the report maximum reader understanding.

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Key Questions Answered In The Report:
● What are the various market segments mentioned in the report?
● What is the current market size of the global market?
● What are the competitive landscape and the role of the leading market players?
● What is the market forecast and how will this affect the global market?
● What are the major drivers and how will they affect market?

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