Press release
Brake System Industry Report 2025-2034: Market Dynamics, Trends, And Forecasts
Brake System
What Is the Expected Brake System Market Size During the Forecast Period?
The market size of the brake system has witnessed substantial growth in the past few years. Projected to increase from $31.23 billion in 2024 to $33.21 billion in 2025, it's expected to experience a compound annual growth rate (CAGR) of 6.3%. Factors such as the expansion of the automotive industry, growing consumer awareness and safety concerns, a rise in the vehicle fleet, innovations in brake materials, government road safety initiatives, the popularity of disc brakes, and improvement in vehicle weight and performance have all contributed to growth during the historic period.
In the coming years, the brake system market is projected to experience robust growth, reaching $43.32 billion by 2029 with a CAGR of 6.9%. This growth can be credited to factors such as an increased push from regulators for improved safety, the advent of energy recovery systems, investment in research and development, competitive market and product diversification, as well as global supply chain issues. Major trends in the forecast period comprise of a shift towards electrification and regenerative braking, the implementation of advanced driver assistance systems (ADAS), the adoption of brake-by-wire technology, the use of lightweight materials and designs, integration of electronic stability control (esc), and advancements in digitalization and connectivity.
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What Are the High-Growth Segments in the Brake System Market?
The brake system market covered in this report is segmented -
1) By Product Type: Disc Brakes, Drum Brakes, Hydrostatic Brakes
2) By Technology: Antilock Braking Systems (ABS), Electronic Stability Control (ESC), Traction Stability Control (TCS), Electronic Brakeforce Distribution (EBD)
3) By Vehicle Type: Passenger Car, Light-Commercial Vehicles (LCV), Truck
4) By End User: Automotive, Construction Equipment, Agricultural Equipment, Industrial Trucks
Subsegments:
1) By Disc Brakes: Ventilated Disc Brakes, Slotted Disc Brakes,
2) By Drum Brakes: Leading-Trailing Drum Brakes, Duo-Servo Drum Brakes,
3) By Hydrostatic Brakes: Fixed Hydrostatic Brakes, Variable Hydrostatic Brakes.
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What Key Drivers Are Expected to Influence Future Brake System Market Growth?
The expected surge in road mishaps is anticipated to boost the expansion of the brake system market. Car collisions, which often involve another vehicle or stationary items, are incidents that are predicted to spur the use of these modern braking systems. Auto manufacturers are increasingly installing these systems to evade possible accidents, minimizing the potential loss of life and mishaps resulting from car accidents. As an example, preliminary data from the Ireland-based state agency, Road Safety Authority, in January 2024, showed a 19% spike in road fatalities in 2023 compared to the previous year, 2022. It was reported that 184 people lost their lives in 173 fatal collisions in 2023, a jump from the 155 deaths in 149 collisions the year before, amounting to an overall rise of 29 deaths or a 19% increase in road fatalities from the prior year. Consequently, the rising incidence of road accidents is fueling the growth of the brake system market.
Which Companies Hold the Largest Share Across Different Brake System Market Segments?
Major companies operating in the brake system market are Aisin Corporation, Brembo S.p.A., Continental AG, Haldex Brake Products Corp., Hitachi Automotive Systems Pvt. Ltd., Knorr-Bremse AG, Robert Bosch GmbH, ZF Friedrichshafen AG, Nissin Kogyo Co. Ltd., TE Connectivity Ltd., KSR International Inc., Batz S. Coop., ADVICS Co. ltd., Bwi Automotive Technologies Private Limited, AUDI AG, BMW AG, Hyundai Motor Company, Toyota Kirloskar Motor Private Limited, Akebono Brake Industry Co. Ltd., Disc Brakes Australia, Aptiv PLC, Federal-Mogul Holding Co., Hella Pagid GmbH, Performance Friction Corporation Brakes, TVS Brake Linings Co., Mando Corporation, Autoliv Inc., Denso Corporation, Freeman Automotive UK Ltd., Hawk Corp.
What Trends Are Driving Growth in The Brake System Market?
Technological advancements are emerging as significant trends in the brake system market. Major industry players are adopting these innovations to maintain their market presence. For instance, in July 2022, a brake manufacturing company from the US, Orbis brakes, teamed up with NASA, the US-based National Aeronautics and Space Administration, to introduce new periodic brake systems using aerodynamics technology. This technology enables the creation of brakes that are 50% lighter than traditional cast-iron brakes, thereby reducing the energy needed for their manufacture by half and lowering carbon emissions in the supply chain. This innovative brake includes a superlight disc brake rotor and a pad that is likely to be priced lower than other high-performance brakes. Moreover, this is a high-performance replacement brake designed with environmental considerations in mind.
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What Are the Emerging Geographies for The Brake System Market Growth?
North America was the largest region in the brake system market in 2024. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the brake system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Brake System Market?
2. What is the CAGR expected in the Brake System Market?
3. What Are the Key Innovations Transforming the Brake System Industry?
4. Which Region Is Leading the Brake System Market?
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