openPR Logo
Press release

Automotive Braking Component Market Size, Share And Growth Analysis For 2023-2031

Automotive Braking Component Market Size, Share And Growth

The global automotive braking component industry, valued at US$ 47.9 billion in 2022, is poised for significant growth, with an estimated Compound Annual Growth Rate (CAGR) of 4.0% from 2023 to 2031. Projections suggest that the market will reach US$ 68.3 billion by the end of 2031. This robust expansion is attributed to several key factors, including the surge in automotive production and vehicle ownership, advancements in safety technologies, and the growing adoption of electric vehicles (EVs).

๐‘๐ž๐ช๐ฎ๐ž๐ฌ๐ญ ๐Ÿ๐จ๐ซ ๐š ๐ฌ๐š๐ฆ๐ฉ๐ฅ๐ž ๐จ๐Ÿ ๐ญ๐ก๐ข๐ฌ ๐ซ๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก ๐ซ๐ž๐ฉ๐จ๐ซ๐ญ ๐š๐ญ (๐”๐ฌ๐ž ๐‚๐จ๐ซ๐ฉ๐จ๐ซ๐š๐ญ๐ž ๐Œ๐š๐ข๐ฅ ๐ˆ๐ ๐Ÿ๐จ๐ซ ๐๐ฎ๐ข๐œ๐ค ๐‘๐ž๐ฌ๐ฉ๐จ๐ง๐ฌ๐ž) - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=45801&utm_source=OpenPR_Ganesh&utm_medium=OpenPR

Contributors to Market Growth:

Automotive Production and Vehicle Ownership: The industry is benefiting from increased vehicle ownership, particularly in emerging economies like China, India, and Vietnam. The post-pandemic rise in automobile production in manufacturing hubs, including Germany and Korea, has further driven the demand for reliable automotive braking components.

Innovation in Safety Technologies: Governments worldwide are imposing stringent safety regulations, emphasizing the need for efficient and optimal braking systems. The alarming increase in pedestrian deaths, vehicle collisions, and air pollution has prompted automakers to invest in advanced brake technologies, contributing to the overall growth of the market.

Focus on Electric Vehicles: Prominent manufacturers are catering to the rising demand from the electric vehicle sector by developing advanced brake technologies suitable for EVs. The market is witnessing increased adoption of electronic braking systems (EBS) and regenerative braking technology in electric and hybrid vehicles, aligning with the global shift towards green transportation.

Market Trends and Developments:

Rise of Electronic Braking Systems (EBS): Recent trends indicate a growing adoption of electronic braking systems, enhancing safety and efficiency, particularly in electric and hybrid vehicles. This aligns with the industry's commitment to sustainability and meeting safety standards.

Regenerative Braking Technology: The market is witnessing a surge in the adoption of regenerative braking technology, especially in electric vehicles, contributing to the green transportation sector. This trend is expected to continue as the automotive industry evolves.

Regional Dynamics:

Asia Pacific Dominance: In 2022, Asia Pacific held the largest market share, driven by expansion in the vehicle manufacturing sector, rapid urbanization, and the availability of cheap labor. China, with its increasing disposable income and urbanization, is a significant player in the automotive braking component market.

Steady Growth in Europe: Europe is projected to experience steady growth, attributed to expansion in the commercial trucking sector and the implementation of stringent safety regulations. The European market is characterized by a large number of commercial vehicles and buses on the roads.

Key Players and Developments:

Investments in Advancements: Leading players such as AISIN CORPORATION, ZF Friedrichshafen AG, and Brembo are investing substantially in advancements in auto brake parts. ZF's announcement of an electro-mechanical 'dry' brake system and Brembo's plans to democratize high-performance all-electric brake systems showcase the industry's commitment to innovation.

Strategic Business Strategies: Key players are adopting strategies such as improved designs and materials to meet the rising demand, contributing to the overall growth of the automotive braking component market.

๐๐ฎ๐ฒ ๐ญ๐ก๐ข๐ฌ ๐๐ซ๐ž๐ฆ๐ข๐ฎ๐ฆ ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก ๐‘๐ž๐ฉ๐จ๐ซ๐ญ | ๐ˆ๐ฆ๐ฆ๐ž๐๐ข๐š๐ญ๐ž ๐ƒ๐ž๐ฅ๐ข๐ฏ๐ž๐ซ๐ฒ ๐€๐ฏ๐š๐ข๐ฅ๐š๐›๐ฅ๐ž ๐š๐ญ - https://www.transparencymarketresearch.com/checkout.php?rep_id=45801<ype=S&utm_source=OpenPR_Ganesh&utm_medium=OpenPR

The global automotive braking component market is set for substantial growth driven by factors like increased vehicle ownership, safety regulations, and the rising adoption of electric vehicles. As industry players invest in innovation and sustainability, the market is poised to witness further advancements, ensuring safer and more efficient braking systems for vehicles across the globe.

About Us Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.

Contact Us

Nikhil Sawlani
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453

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 Braking Component Market Size, Share And Growth Analysis For 2023-2031 here

News-ID: 3394194 • Views: โ€ฆ

More Releases from Transparency Market Research

Handheld Marijuana Vaporizer Market Key Drivers, Market Research, and Insights for the USD 15.9 Bn Market 2022-2031
Handheld Marijuana Vaporizer Market Key Drivers, Market Research, and Insights f โ€ฆ
The global handheld marijuana vaporizer market has witnessed remarkable growth in recent years, attributed to the increasing acceptance of medicinal marijuana and the demand for convenient and discreet consumption methods. Valued at US$ 5 billion in 2021, the market is projected to surge at a CAGR of 13.4% to reach US$ 15.9 billion by 2031. This article delves into the factors driving this growth, the evolving market landscape, and theโ€ฆ
Disinfectant Wipes Market Forecast 2020-2030 - Market Size, Drivers, Trends, And Competitors
Disinfectant Wipes Market Forecast 2020-2030 - Market Size, Drivers, Trends, And โ€ฆ
The COVID-19 pandemic has precipitated a remarkable surge in the demand for disinfectant products, with a notable emphasis on disinfectant wipes as an essential tool in maintaining hygiene and preventing the spread of pathogens. This research report delves into the multifaceted landscape of the disinfectant wipes market, elucidating key trends, drivers, and innovations shaping the industry. ๐†๐ž๐ญ ๐’๐š๐ฆ๐ฉ๐ฅ๐ž ๐๐ƒ๐… ๐‚๐จ๐ฉ๐ฒ ๐จ๐Ÿ ๐ญ๐ก๐ข๐ฌ ๐ซ๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก ๐ซ๐ž๐ฉ๐จ๐ซ๐ญ @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=70359 Key Players and Market Developments Key playersโ€ฆ
Tissue Banking Market is Expected to Reach US$ 2,903.3 Million to 2026| TMR Study
Tissue Banking Market is Expected to Reach US$ 2,903.3 Million to 2026| TMR Stud โ€ฆ
The global ๐ญ๐ข๐ฌ๐ฌ๐ฎ๐ž ๐›๐š๐ง๐ค๐ข๐ง๐  ๐ฆ๐š๐ซ๐ค๐ž๐ญ reached a value of US$ 1,056.4 million in 2017 and is projected to nearly triple to US$ 2,903.3 million by 2026, with a robust Compound Annual Growth Rate (CAGR) of approximately 12.0% from 2018 to 2026. Factors such as increasing awareness about tissue donation, technological advancements, and a growing target patient population are anticipated to propel market growth during this period. Moreover, the market is expectedโ€ฆ
Vascular Closure Devices Market to reach US$ 1 Billion by 2027: TMR Study
Vascular Closure Devices Market to reach US$ 1 Billion by 2027: TMR Study
This report by Transparency Market Research, Inc. assesses the present state and future growth potential of the global ๐ฏ๐š๐ฌ๐œ๐ฎ๐ฅ๐š๐ซ ๐œ๐ฅ๐จ๐ฌ๐ฎ๐ซ๐ž ๐๐ž๐ฏ๐ข๐œ๐ž๐ฌ ๐ฆ๐š๐ซ๐ค๐ž๐ญ. It features a comprehensive executive summary, offering insights into various segments of the market. Additionally, the report provides detailed analysis and data on product, access type, application, end user, and regional segments within the global market. Vascular closure devices is estimated to reach a value of ~US$ 1 Bnโ€ฆ

All 5 Releases


More Releases for Braking

Aircraft Braking Systems Market 2022 | Detailed Report
The Aircraft Braking Systems research report studies primary and secondary research in order to analyze the data effectively. The market study further also draws attention to crucial industry factors such as global clients, potential customers, and sellers, which instigates positive company growth. In order to gauge the turning point of the businesses, significant market key players are also enlisted in order to deliver readers with in-depth analysis about industry strategies. Theโ€ฆ
Key Emerging Trends in Aircraft Braking System Market
The report "Aircraft Braking System Market by Aircraft Type, End Use (OEM, Aftermarket), Actuation (Power Brake, Boosted Brake, Independent Brake), Component (Wheels, Brake Discs, Brake Housing, Valves, Actuators, Accumulator, Electronics), Region - Forecast to 2026 ", size is projected to grow from USD 10.9 billion in 2021 to USD 13.1 billion by 2026, at a CAGR of 3.6% from 2021 to 2026. The market is driven by various factors, suchโ€ฆ
Two-wheeler Anti-braking System (ABS) Market Report 2018: Segmentation by Produc โ€ฆ
Global Two-wheeler Anti-braking System (ABS) market research report provides company profile for ZF TRW, Aisin Seiki, Hitachi Automotive System, Mando, Brakes India, Haldex, Bosch, BWI, Continental, Honda Motor and Others. This market study includes data about consumer perspective, comprehensive analysis, statistics, market share, company performances (Stocks), historical analysis 2012 to 2017, market forecast 2018 to 2025 in terms of volume, revenue, YOY growth rate, and CAGR for the year 2018โ€ฆ
Automatic or Autonomous Emergency Braking (AEB) Market: Crashing Imminent Brakin โ€ฆ
Automatic or autonomous emergency braking technology is a special type of braking technology used currently in automobiles. Braking system in an automobile helps to brake the vehicle to prevent collision. Automatic or autonomous emergency braking as the name implies helps to brake the vehicle by increasing the braking force or automatically brakes to prevent a rear-end and other collision. Rising demand for passenger vehicles and luxury vehicles across the globeโ€ฆ
Automotive Regenerative Braking Market: Technological Breakthroughs By 2025
The automotive regenerative braking system is an energy recovery system that coverts the kinetic energy of the vehicle produced during deceleration of the vehicle into electrical energy. The converted energy is stored in the vehicle energy storage unit in order to utilize it in other applications such as start-stop function, headlights, and to power the vehicle's interior electronics. The regenerative braking system uses different types of energy storage units suchโ€ฆ
Regenerative Braking Systems Market Challenges and Opportunities Report
Increasing demand for fuel efficient vehicles, increasing efforts for mitigation of carbon emissions and rising cost of fuels, are pushing the Automakers to seek for development of energy efficient systems. This changing dynamics has significantly led to developments in regenerative braking systems market. Nowadays, energy recovery systems in vehicles are increasingly getting employed in passenger as well as commercial vehicles to improve fuel economy and reduce vehicular emissions.As aโ€ฆ