Press release
Brake System Market to Reach USD 30.19 Bn by 2029, emerging at a CAGR of 4.8 percent and forecast 2023-2029
Brake System Market
To compile this comprehensive report, a rigorous research methodology was employed, ensuring accuracy and reliability. Stakeholders and industry players can delve into the nuances of the Brake System Market through the detailed insights derived from this meticulous research process.
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What are Brake System Market Dynamics:
Increased automotive production and sales as well as increased demand for electric vehicles are expected to boost the brake system market during the forecast period. In addition, the market for advanced brake systems such as braking antilockers, electronic brake-power distribution systems, and others is anticipated to grow due to increasing restrictions on traffic safety applications. Consequently, governmental bodies have forced rigorous implementation of active automobile safety applications to protect the safety of people and minimize accidents. In the United States, automakers have therefore committed to incorporate a low-speed, forward-looking AEB-system with forwarding collision warning in all of their vehicles by September 2022.
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Brake System Market Regional Insights:
Asia Pacific: Leading the market in 2022, Asia Pacific is expected to maintain its dominance with a projected CAGR of 6.7% during the forecast period. The region benefits from increased deployment of advanced safety electronic braking systems and the popularity of active braking systems, particularly in countries like China and India, which together contribute to 34% of global vehicle production.
North America: Anticipated to grow at a CAGR of 4.7%, North America has witnessed market expansion since 2015, driven by the mandatory installation of Electronic Stability Control (ESC) technology in light cars. Studies indicate a potential reduction in accidents and fatalities, propelling the Brake System market in the region.
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What is Brake System Market Segmentation:
by Type
Disc
Drum
by Technology
Antilock Braking Systems (ABS)
Electronic Stability Control (ESC)
Traction Stability Control (TCS)
Electronic Brake force Distribution (EBD)
by Vehicle Type
Passenger Car
Light-commercial Vehicles (LCV)
Truck
Bus
by Actuation
Hydraulic
Pneumatic
Who are Brake System Market Key Players:
1.Continental AG
2.Robert Bosch GmbH
3.ZF Friedrichshafen AG
4.AISIN SEIKI Co., Ltd
5.DENSO CORPORATION
6.AKEBONO BRAKE INDUSTRY CO., LTD
7.Wabco Holdings, Inc
8.Knorr-Bremse AG
9.Brembo S.p,A
10.Hitachi Astemo Ltd
11.Mando Corporation
12.Haldex AB
13.Wabco Holdings, Inc
14.Delphi Automotive PLC
15.Hitachi Automotive Systems, Ltd
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Table of content for the Brake System Market includes:
Global Brake System Market: Research Methodology
Global Brake System Market: Executive Summary
Market Overview and Definitions
Introduction to the Global Market
Summary
Key Findings
Recommendations for Investors
Recommendations for Market Leaders
Recommendations for New Market Entry
3.Global Brake System Market: Competitive Analysis
MMR Competition Matrix
Market Structure by region
Competitive Benchmarking of Key Players
Consolidation in the Market
M&A by region
Key Developments by Companies
Market Drivers
Market Restraints
Market Opportunities
Market Challenges
Market Dynamics
PORTERS Five Forces Analysis
PESTLE
Regulatory Landscape by region
North America
Europe
Asia Pacific
Middle East and Africa
South America
COVID-19 Impact
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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.
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