Press release
Brake System Market Set for Rapid Growth During 2022 - 2028
Brake System Market
A Brake system is a mechanical or electrical device that enables the driver to slow down or stop the vehicle. It is one of the essential parts of vehicles, and it includes various components such as brake calipers, brake disc, master cylinder, brake shoes, brake rotor, brake pedal, brake lining, brake drum, and hoses. The extreme working conditions, such as mining and construction activities, require a durable and cost-effective brake system. Factors such as an increase in production & sales of commercial vehicles and off-highway trucks, the impact of the new car assessment program (NCAP) on electronic brake systems, and the rise in the stringency of automotive active safety regulations are the significant factor driving the growth of the brake system market.
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Companies Profiled in this report includes: Aisin Seiki Co., Ltd.,Brembo S.P.A,Continental AG,Delphi Technologies,Haldex AB,Hitachi Automotive Systems, Ltd,Knorr-Bremse AG,Robert Bosch GmbH,Wabco Holdings, Inc.,ZF Friedrichshafen AG
MARKET DYNAMICS
Growing focus on driver & passenger safety and growth in new technology brake systems with improved efficiency fuels the brake system market's demand. However, the high development cost and high installation & maintenance cost of electronic brake systems may hamper the brake system market growth over the forecast period. An introduction of regenerative braking mandates on air brakes installation and the introduction of the brake-by-wire system is expected to provide lucrative growth opportunities for the brake system market in the coming years.
MARKET SEGMENTATION
The global brake system market is segmented on the basis of product type, end-user. On the basis of product type the market is segmented as disc brake, drum brake, hydrostatic brake, hydraulic wet brake, regenerative and dynamic braking. On the basis of end-user the market is segmented as automotive, agricultural equipment, industrial trucks, construction and mining equipment.
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REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global Brake system market based on various segments. It also provides market size and forecast estimates from year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The brake system market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting Brake system market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the brake system market in these regions.
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Contact Us:
If you have any queries about this report or if you would like further information, please contact us:
Contact Person: Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876
About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
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