Press release
Automotive Brake System Market to increase at a CAGR of 5.7% through 2023
Automotive Brake System Market
The automotive brake system market is anticipated to record substantial growth over the course of the forecast period because of the importance of the automobile industry in both developed and emerging economies. Rising safety concerns amongst the general population have compelled national governments to issue guidelines and mandates with respect to improving vehicular safety. Persistence Market Research has recently prepared an exhaustive report titled ''Automotive Brake System Market: Global Industry Analysis (2012-2016) & Forecast (2017-2022)'.The report delivers a historical analysis for the period 2012 to 2016 along with a forecast for the five-year study period from 2017 to 2022 for the automotive brake system market. The study is an accurate representation of the market dynamics across the regions APEJ, MEA, Latin America, North America, Europe, and Japan that influence both the current as well as future potential that exists in the automotive brake system market.
Click on the link for sample report: https://www.persistencemarketresearch.com/samples/19276
The automotive brake system report has included a detailed evaluation of the automotive brake system and offers important insights on the factors impacting and driving the sales of automotive brake systems. The study comprehensively assesses key stakeholder strategies critical to succeed in the automotive brake system market. The automotive brake system market has studied the market on the basis of brake type, sales channel, vehicle type, technology, and region.
The automotive brake system market report begins with a broad overview of the automotive brake system market in terms of value expressed in US dollars. Furthermore, this section touches on the technological trends and opportunity analysis influencing the automotive brake system market as a whole. A thorough evaluation of each market size for the automotive brake system market across the different geographic regions is par for the course in the automotive brake system market report. The market presence for key participants in the automotive brake system market concludes this section.
Drivers and restraints:
Drivers:
• Increasing demand for safety features: The demand for automotive brake systems is driven by the increasing focus on safety features in vehicles. The growing awareness about safety among consumers, coupled with government regulations mandating the installation of safety features, is fueling the demand for advanced brake systems.
• Growing demand for electric vehicles: With the increasing adoption of electric vehicles, the demand for brake systems is also growing. As electric vehicles have regenerative braking systems that rely heavily on the brake systems to slow down the vehicle, the demand for efficient brake systems is increasing.
Restraints:
• High cost of advanced brake systems: The high cost of advanced brake systems is a major restraint for the automotive brake system market. The cost of these systems is higher than conventional brake systems, which is limiting their adoption among cost-sensitive consumers.
• Competition from low-cost brake systems: The availability of low-cost brake systems is a significant restraint for the automotive brake system market. These low-cost systems offer basic functionalities and are preferred by cost-sensitive consumers, which is limiting the growth of advanced brake systems.
Key Companies
Several prominent companies actively involved in the automotive brake system market have been profiled in the report. They are Aisin Seiki, Akebono Brake Industry Co., Brembo SpA, Knorr-Bremse AG, Continental AG, Knorr-Bremse AG, Mando Corporation, Robert Bosch GmbH, Wabco Holdings Inc, and ZF Friedrichshafen AG.
Click on the link for customized report: https://www.persistencemarketresearch.com/request-customization/19276
Automotive Brake System Market Taxonomy
Region
• North America
• Latin America
• Europe
• Japan
• APEJ
• MEA
Brake Type
• Disc Brake
• Drum Brake
Sales Channel
• OEM
• Aftermarket
Vehicle Type
• Mid-sized Passenger Cars
• Compact Passenger Cars
• Luxury Passenger Cars
• Light Commercial Vehicles
• Heavy Commercial Vehicles
• Premium Passenger Cars
Technology
• Anti-Lock Braking System (ABS)
• Electronic Stability Control (ESC)
• Traction Control System (TCS)
• Electronic Brake-Force Distribution (EBD)
This report covers a thorough analysis of:
• Market segment
• Market dynamics
• Market size
• Supply demand
• Current Trends/Issues/Challenges
• Competition and related companies
• Technology
• Value chain
Regional analysis includes:
• North America (USA, Canada)
• Latin America (Mexico, Brazil)
• Western Europe (Germany, Italy, France, UK, Spain)
• Eastern Europe (Poland, Russia)
• Asia Pacific (China, India, ASEAN, Australia and New Zealand)
• Japan
• Middle East and Africa (GCC countries, South Africa, North Africa)
Click on the link to purchase the full report: https://www.persistencemarketresearch.com/checkout/19276
Report highlights:
• Detailed overview of the top markets
• Changing market dynamics of the industry
• In-depth market segmentation
• Historical, current and projected market size in terms of volume and value
• Recent industry trends and developments
• competitive landscape
• Strategies of major players and products provided
• Potential and niche segments, areas showing promising growth
• A neutral view of market performance
• Essential information for market participants to maintain and strengthen their market footprint
Related reports:
Passenger Vehicles Market: https://www.persistencemarketresearch.com/market-research/passenger-vehicles-market.asp
Automotive Wiring Harness Market: https://www.persistencemarketresearch.com/market-research/automotive-wiring-harness-market.asp
Contact us:
Persistence Market Research
Address - 305 Broadway, 7th Floor, New York City,
NY 10007 United States
U.S. Ph. - +1-646-568-7751
USA-Canada Toll-free - +1 800-961-0353
Sales - sales@persistencemarketresearch.com
About us:
The Automotive and Transportation division of PMR provides exclusive coverage and actionable insights about the automotive and transportation industry encompassing the automotive, aviation, shipping and marine, and railway sectors. Market findings and competition intelligence of OEM, aftermarket, services, and technology landscape have helped numerous industry stakeholders' right from automakers, component manufacturers, channel partners, and service providers in taking informed decisions and keeping them up-to-date with market behavior.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Automotive Brake System Market to increase at a CAGR of 5.7% through 2023 here
News-ID: 3016862 • Views: …
More Releases from Persistence Market Research
North America Wiring Devices Market Projected to Reach USD 26.46 Billion by 2031
Overview of the North America Wiring Devices Market
The North America wiring devices market is poised for steady growth over the forecast period, with its size estimated at US$ 18.96 billion in 2024, projected to reach US$ 26.46 billion by 2031, reflecting a CAGR of 4.9%. The market is witnessing substantial expansion due to increasing urbanization, a rising number of residential and commercial construction projects, and the adoption of energy-efficient and…
Global Forged Automotive Components Market Poised for Steady Growth, Projected t …
The global forged automotive components market is on a robust growth trajectory, currently valued at approximately US$ 50.3 billion in 2025 and forecasted to expand to US$ 70.7 billion by the end of 2032. This growth represents a compound annual growth rate (CAGR) of 5.0% over the coming decade, driven by increasing automotive production, technological advancements, and evolving consumer preferences toward durable, high-performance vehicle parts.
Forged automotive components are critical to…
Global Electric Cargo Bike Market Set to Accelerate at 11.9% CAGR, Reaching US$ …
The global electric cargo bike market is set to experience substantial growth over the coming decade, with Persistence Market Research (PMR) forecasting a compound annual growth rate (CAGR) of 11.9% from 2023 through 2032. Valued at approximately US$ 800 million in 2021, the market is expected to surge to a projected valuation of US$ 2.14 billion by the end of 2032. Notably, electric cargo bikes accounted for 66.2% of the…
Bicycle Bearings Market Set for Steady Growth with 6.5% CAGR Through 2032, Drive …
The global bicycle bearings market is poised for significant expansion over the forecast period of 2025 to 2032, according to the latest report released by Persistence Market Research. Valued at approximately US$ 5.99 billion in 2024, the market is projected to reach US$ 6.35 billion by 2025 and further escalate to nearly US$ 9.86 billion by 2032. This growth trajectory reflects a compound annual growth rate (CAGR) of 6.5%, underscoring…
More Releases for Brake
Brake Repair Service: A Reliable Solution for Mobile Brake Services
When it comes to maintaining the performance and safety of your vehicle, brake systems are among the most critical components. Whether you're a truck driver or a fleet manager, ensuring your brakes are in optimal condition is a priority. Fortunately, finding a reliable Brake Repair Service [https://mobilebrakerepairtn.com/#:~:text=Brake%20Repair%20Service] provider has never been easier, thanks to mobile brake services that bring convenience and professionalism right to your location.
Mobile Brake Services: Convenient, Efficient,…
Brake System Market : Disc Brake, Drum Brake, Hydrostatic Brake 2020-2027
The global brake system industry was valued at $41.62 billion in 2019, and is projected to reach $61.20 billion by 2027, registering a CAGR of 7.0%. The report provides a detailed analysis of changing market dynamics, top investment pockets, major winning strategies, key segments, and competitive scenarios.
Growth in production & sales of commercial vehicles and off-highway trucks, rise in stringency of automotive active safety regulations, and initiatives of new car…
Aircraft Brake System : Power Brake, Boosted Brake, and Independent Brake 2021-2 …
The global aircraft brake system market was valued at $10.52 billion in 2020, and is projected to reach $16.95 billion in 2030, registering a CAGR of 5.2%. The report offers an in-depth analysis of the market size, emerging and current trends, future estimations, and key players.
Increase in air passenger traffic in the world and rise in operations in the commercial aviation sector are expected to fuel the global aircraft brake…
Aircraft Brake System Market : Power Brake, Boosted Brake, and Independent Brake …
The global aircraft brake system market generated $10.52 billion in 2020, and is anticipated to reach $16.95 billion in 2030, manifesting a CAGR of 5.2%.
Increase in air passenger traffic in the world and rise in operations in the commercial aviation sector are expected to fuel the global aircraft brake system market. On the other hand, strict regulatory conditions create hindrances to market growth. On the contrary, usage of advanced…
Brake System Market : Disc Brake, Drum Brake, Hydrostatic Brake, Hydraulic Wet B …
The global Brake System Industry estimated $41.62 billion in 2019, and is expected to hit $61.20 billion by 2027, witnessing a CAGR of 7.0% from 2020 to 2027.
Download Report Sample at https://www.alliedmarketresearch.com/request-sample/1024
Covid-19 Scenario-
The covid-19 outbreak has immensely affected the industry, as most of the original equipment manufacturers (OEM) have kept the production of brake systems on hold.
The supply chain management has been disrupted resulting in shortage of raw materials. The…
Brake System Market : Disc Brake, Drum Brake, Hydrostatic Brake, Hydraulic Wet B …
The global brake system industry was valued at $41.62 billion in 2019, and is projected to reach $61.20 billion by 2027, registering a CAGR of 7.0%. The report provides a detailed analysis of changing market dynamics, top investment pockets, major winning strategies, key segments, and competitive scenarios.
Download Report Sample at https://www.alliedmarketresearch.com/request-sample/1024
Growth in production & sales of commercial vehicles and off-highway trucks, rise in stringency of automotive active safety regulations, and…
