Automotive Brake System Market Size, Share, Opportunities, And Trends By Brake Type (Disc Brake, Drum Brake), By Technology (Anti-Lock Braking System (ABS), Electronic Stability Control (ESC), Traction Control System (TSC), Electronic Brakeforce Distribution (EBD), Automatic Emergency Braking), By AutoType (Passenger Cars, Light Commercial Vehicles (LCVs), Trucks, Buses), And By Geography - Forecasts From 2024 To 2029

The automotive brake system market is anticipated to expand at a high CAGR over the forecast period.

Automotive brake systems have been in existence ever since the first design of automobiles and they are inevitable in vehicles. An automotive brake is a mechanical device that is designed to restrain motion using friction by absorbing energy from a moving system. It can inhibit motion by absorbing energy from a moving system and slowing down the vehicle. A huge amount of energy or stopping power is required to reduce the speed as well as stop the vehicles. 

A brake system helps to stop vehicles within the smallest possible distance. This is done by converting the vehicle's kinetic energy into heat energy. The brake is applied to stop it within a short period, and it can function on any mechanical device where motion occurs. There are various components in an automotive braking system, such as brake pedal, brake lines, brake shoes, brake pads, brake drum, brake lining, fluid reservoir, fluid lines, and rotor. Braking systems in vehicles can be of two types: disc brakes and drum brakes. They both have different designs and operations.

INTRODUCTION:

The major driver for the automotive brake system market is the increasing developments and innovations in the automotive industry, coupled with a rise in awareness among the general public for automobile safety. So, automotive manufacturers are continuously conducting research and development to improve braking systems in cars and implementing them in newer models they launch. The rising demand for automobiles, such as commercial vehicles like trucks and passenger vehicles, along with new safety regulations being announced by the government, is predicted to fuel the market.

The rise in the adoption of electric vehicles (EVs) worldwide and the use of new car assessment programs on electronic brake systems, along with technological advancements for the safety of the driver in braking systems, as governments are promoting enhanced safety features in vehicles, will contribute to the global market growth.

MARKET DRIVERS:

• Safety regulations by the government for driver safety in vehicles are predicted to propel market growth:

The constant innovations and developments in the automotive industry to make transport safer and reliable for the driver are being promoted by the government. This is increasing the demand for improved safety features in the vehicles which includes improved braking systems. These braking systems are an important part of the safety features of the vehicle. A brake system helps to stop vehicles within the smallest possible distance. This is done by converting the vehicle's kinetic energy into heat energy.  Therefore, these regulations for improved safety features in the automotive industry are anticipated to boost the automotive braking system market.

• The rise in sales of commercial and passenger vehicles across the globe is projected to drive the market.

The sales of vehicles are on a rapid increase around the globe. These sales are due to rapid industrialization in many developing countries and growing population. Commercial vehicles for trade purposes are also in a lot of demand, which is increasing the sales of both passenger and commercial vehicles sales. Electric vehicles are the perfect alternative in the automotive industry for traditional fuel-based vehicles. These EVs save energy and reduce carbon footprint as they don’t have a traditional combustion engine; instead, they use batteries or other sustainable fuel alternatives to power the vehicle.

These EVs can provide them with better safety features, fuel efficiency, and a reduced carbon footprint to save the environment. Major automotive players are also investing in these EVs to develop and innovate them. These constant investments in development and innovations in electric vehicle production, coupled with the rise in popularity of electric vehicles and sales of vehicles around the globe, are predicted to fuel the market's growth.

MARKET RESTRAINT:

The automotive industry is constantly evolving and they are making significant improvements to innovate and develop the vehicles. However, with these rising innovations, the cost of making these developments is also rising proportionally. For instance, the electronic braking system is being adopted by major car manufacturers. This is majorly found in premium vehicles that are high in cost. This electronic brake system is not cost-efficient to be integrated into economy-class vehicles.

The capital needed for developing and implementing these innovations in braking technology, such as electronic braking systems, is high. Therefore, the high cost of implementing this new braking system, which is not affordable for all car manufacturers, is anticipated to hinder market growth.

• Prominent growth is projected in the Asia Pacific region.

The Asia Pacific region is expected to show major growth in the automotive braking system industry. The rapid growth in the automotive industry, coupled with industrialization in developing countries with growing populations in the region, is predicted to fuel the market. Additionally, the increase in the production of light and heavy-duty vehicles in Japan, China, and India will contribute to market growth in the region. Moreover, an increase in government initiatives for EV adoption and a rapid rise in automobile production in the region is expected to boost the automotive braking system market during the forecast period.

The advancements in brake systems and the expansion of brake systems by manufacturers to catch up with rising demand in the region are growing the market. China has the largest population count and is rising, which will lead to a rise in demand for vehicles, and this will contribute to the demand for braking systems in vehicles.

Products Offered by Key Companies:

• Akebono: Akebono Proact Ultra-Premium Brake Pads: Ceramic friction technology can restore the original equipment ceramic brakes on a vehicle, and they last up to 40% longer.
• ADVICS: Ultra-premium disc Brake Pads have optimal performance and heat dissipation and produce quiet, smooth, safe stopping with reduced noise and more reliable braking systems.

Key Developments:

• In November 2023, ADVICS announced that it is expanding its product line by adding new EPB actuator kits, which attach to the vehicle’s caliper and automatically engage the parking brake. These brakes only need the driver to push a button to engage before exiting the vehicle or disengage before driving away.

Segmentation:

• By Brake Type
  • Disc Brake
  • Drum Brake
• By Technology
  • Anti-Lock Braking System (ABS)
  • Electronic Stability Control (ESC)
  • Traction Control System (TSC)
  • Electronic Brakeforce Distribution (EBD)
  • Automatic Emergency Braking
• By AutoType
  • Passenger Cars
  • Light Commercial Vehicles (LCVs)
  • Trucks
  • Buses
• By Geography
  • North America
    • United States
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others 
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Spain
    • Others 
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Others 
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Taiwan
    • Thailand
    • Indonesia
    • Others