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Automotive Brake Systems Market Size, Trends, Growth And Global Forecast 2023-2032
Automotive Brake Systems Market Report
Automotive Brake Systems Market Size, Growth Rate, And Forecast:
The global automotive brake systems market size grew from $33.37 billion in 2022 to $36.58 billion in 2023 at a compound annual growth rate (CAGR) of 9.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The automotive brake systems market size is expected to grow to $49.51 billion in 2027 at a CAGR of 7.9%.
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Automotive Brake Systems Market Drivers:
The rising demand for passenger and commercial vehicles is expected to drive the automotive brake systems market. Rapid growth in disposable income among individuals in both developing and developed countries and growing demand for a personal vehicle for daily commute to work has contributed to rapid growth in demand for passenger and commercial vehicles. The rapid growth in demand for passenger and commercial vehicles is expected to the boost utilization of automotive brake systems, as they are a vital component in the manufacturing of automotive vehicles.
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Automotive Brake Systems Market Segments
•By Product Type: Disc Brakes, Drum Brakes
•By Technology: Antilock Braking Systems (ABS), Electronic Stability Control (ESC), Traction Stability Control (TCS), Electronic Brakeforce Distribution (EBD)
•By Sales Channel: Original Equipment Manufacturers (OEMs), Aftermarket
•By Vehicle Type: Passenger Car, Light-commercial Vehicles (LCV), Truck, Bus
•By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the automotive brake systems market.
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Automotive Brake Systems Market Key Players:
Major competitors in the automotive brake systems market include Advics Co Ltd., Aisin Seiki Co Ltd., Akebono Brake Industry Co. Ltd., Brembo SpA, Continental AG, Hitachi Automotive Systems, Robert Bosch GMBH, ZF Friedrichshafen AG, Delphi Technologies, Denso Corporation, Disc Brakes Australia (DBA), Haldex, Halla Mando Corp, Knorr-Bremse AG, Nissin Kogyo Co Ltd., and TVS Brake Linings Co.
The Business Research Company's "Global Automotive Brake Systems Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Automotive Brake Systems Market Include:
1. Executive Summary
2. Automotive Brake Systems Market Characteristics
3. Automotive Brake Systems Market Trends And Strategies
4. Automotive Brake Systems Market - Macro Economic Scenario
5. Automotive Brake Systems Market Size And Growth
....
26. Africa Automotive Brake Systems Market
27. Automotive Brake Systems Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Automotive Brake Systems Market
29. Automotive Brake Systems Market Future Outlook and Potential Analysis
30. Appendix
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