Automotive Braking System Market - Forecasts from 2018 to 2023
The Automotive Braking System market is projected to grow at a CAGR of 4.08% to reach US$29.090 billion by 2023, from US$22.885 billion in 2017. Rapid expanding automobile industry and increasing awareness regarding safety is considered as the driving factor for the growth of the market. According to World Health Organization nearly 1.3 million people die each year and between 20 and 50 million sustain non-fatal injuries due to road accidents. Increasing purchasing power in developing counties has impacted the demand for vehicles which further drive the market for automotive braking systems. The presence of big players and high initial investment cost has restricted the entry of new players in the market, which is considered as the restraining factor for the growth of the market.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the Automotive Braking System value chain. The last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the Automotive Braking System market.
Major industry players profiled as part of the report are Akebono Brake Industry Co., Continental AG, Opto Diode Corporation, Federal-Mogul Holding Co, Disc Brakes Australia and Hella Pagid GmbH among others.
The Automotive Braking System market has been analyzed through following segments:
By Vehicle Type
Middle East and Africa
Akebono Brake Industry Co.
Opto Diode Corporation
Federal-Mogul Holding Co
Disc Brakes Australia
Hella Pagid GmbH
ZF Friedrichshafen AG
Carlisle Brakes and Friction