Enjoy complimentary customisation on priority with our Enterprise License!
The automotive brake system market share is expected to increase by USD 5.05 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 4.48%.
This automotive brake system market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers automotive brake system market segmentation by type (passenger cars and commercial vehicles) and geography (APAC, Europe, North America, MEA, and South America). The automotive brake system market report also offers information on several market vendors, including Aisin Corp., Autoliv Inc., Brembo Spa, Continental AG, DENSO Corp., Hitachi Ltd., Hyundai Motor Group, Mando Corp., Robert Bosch GmbH, and ZF Friedrichshafen AG among others.
Download the Free Report Sample to Unlock the Automotive Brake System Market Size for the Forecast Period and Other Important Statistics
The increasing demand for safety measures to reduce accidental injuries is notably driving the automotive brake system market growth, although factors such as high dependency on advanced systems leading to unreliability of these systems may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the automotive brake system industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Automotive Brake System Market Driver
One of the key factors driving market growth for automotive brake systems is the increase in the demand for safety measures for avoiding accidental injuries. The rising number of road accidents is pushing original equipment manufacturers (OEMs) to implement safer braking systems in their vehicles and comply with stringent government norms. The increase in consumer expectations has forced the automotive industry to adopt increased electrification of various components in the vehicles. This move has enhanced 90% of the features in the vehicle model, increasing the automotive brake system market share.
Key Automotive Brake System Market Challenge
The high dependency on advanced systems is one of the key challenges for the automotive brake system market growth. There has been a technological breakthrough through the electrification of braking systems but their durability and reliability are a cause of concern among the users. For instance, BMW recalled 901 of their vehicles sold in 2019-2020 in North America because the driver-assist system with automatic braking systems, which detects and warns the driver about the obstacles, failed to activate the brakes. Such situations can be dangerous for the users, hence from the OEMs' perspective, this poses a challenge for the market.
This automotive brake system market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the automotive brake system market encompasses successful business strategies deployed by the key vendors. The automotive brake system market is fragmented and the vendors are deploying growth strategies such as focusing on designing and developing advanced braking systems to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The automotive brake system market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Type
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.
Get the report (PDF) sent to your email within minutes.