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How has the automotive brake systems market grown in recent years?

In recent times, there has been a substantial growth observed in the market size of automotive brake systems. It is anticipated to surge from $37.47 billion in 2024 to $39.79 billion in 2025, growing at a compound annual growth rate (CAGR) of 6.2%. The expansion in the previous period was due to factors such as safety norms, consumer requirements, worldwide vehicle manufacturing, economic circumstances, and requirements in the aftermarket.

How is the automotive brake systems market size expected to evolve during the forecast period?

Predictions indicate a healthy expansion in the automotive brake systems market over the upcoming years, expecting to reach $54.39 billion by 2029, with a compound annual growth rate (CAGR) of 8.1%. Several aspects are contributing to this expected growth during the forecast period, including the rise of electric and hybrid vehicles, autonomous vehicles, environmental regulations, the advent of connected vehicle technology, emerging markets, energy efficiency, and market globalization. Key trends anticipated within this period encompass advanced driver assistance systems (ADAS), the use of lightweight, high-performance materials, brake-by-wire technology, integrated brake systems, and strategic industry partnerships.

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Which key drivers are propelling the automotive brake systems market’s growth?

The automotive brake system market is poised to gain momentum due to an increase in the demand for both passenger and commercial vehicles. The surge in disposable incomes in developing and developed nations alike, coupled with the growing need for personal transport for daily commuting, has spurred the need for these vehicles. As these vehicles necessitate the use of automotive brake systems – a crucial part in vehicle manufacture – their demand indirectly fuels the use of these systems. For example, in January 2024, the Society of Motor Manufacturers and Traders, a trade association based in the UK, revealed an 18.5% increase in UK Commercial Vehicle (CV) production in 2023, marking 120,357 vehicles such as vans, trucks, taxis, buses, and coaches off the production lines. As such, the expected rise in demand for passenger and commercial vehicles should catalyze the need for automotive brake systems in the forecast period.

What are the market segments in the automotive brake systems industry?

The automotive brake systems market covered in this report is segmented – _x000D_

_x000D_

1) By Product Type: Disc Brakes, Drum Brakes_x000D_

2) By Technology: Antilock Braking Systems (ABS), Electronic Stability Control (ESC), Traction Stability Control (TCS), Electronic Brakeforce Distribution (EBD)_x000D_

3) By Sales Channel: Original Equipment Manufacturers (OEMs), After market_x000D_

4) By Vehicle Type: Passenger Car, Light-commercial Vehicles (LCV), Truck, Bus_x000D_

_x000D_

Subsegments:_x000D_

1) By Disc Brakes: Ventilated Disc Brakes, Solid Disc Brakes, Performance Disc Brakes_x000D_

2) By Drum Brakes: Leading Trailing Drum Brakes, Duo-Servo Drum Brakes, Self-Adjusting Drum Brakes

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Which leading companies are shaping the growth of the automotive brake systems market?

Major companies operating in the automotive brake systems market include Advics Co. Ltd., Aisin Seiki Co. Ltd., Akebono Brake Industry Co. Ltd., Brembo SpA, Continental AG, Robert Bosch GmbH, ZF Friedrichshafen AG, Federal-Mogul Motorparts LLC, Bendix Commercial Vehicle Systems LLC, Knorr-Bremse AG, WABCO Holdings Inc., Mando Corporation, Haldex AB, Nissin Kogyo Co Ltd., Meritor Inc., Advanced Braking Technology Ltd., TMD Friction Holdings GmbH, Midwest Air Technologies Inc., Nisshinbo Holdings Inc., ADVICS CO. LTD., FTE automotive Group, Hella Pagid GmbH, Endless Co. Ltd., Bremskerl Reibbelagwerke Emmerling GmbH & Co. KG, Brembo SpA, Performance Friction Corporation, Arc Remanufacturing Inc., Muller Brakes America Inc., Allgemeine Technische Entwicklungen GmbH

What key trends are currently impacting the automotive brake systems market’s development?

Prominent businesses in the automotive brake systems market are concentrating on creating ground-breaking solutions such as next-generation electronic brake systems. These are aimed at increasing vehicle safety, boosting responsiveness, and optimizing brake performance. The term ‘new generation electronic brake system’ refers to a cutting-edge braking technology that leverages electronic controls and sensors to augment the safety and functionality of a vehicle’s brake mechanism. As an example, in May 2023, Continental AG, a premier automotive parts manufacturer in Germany, introduced the MK 120 ESC. It is a new generation electronic brake system structured for heightened safety and efficiency in automobiles, especially fitting for electric models. Initially employed in Changan’s Oshan X5 Plus and Uni-T, this system weighs roughly 5% less and is about 7% smaller than the previous model, leading to energy conservation and less pollution emission. It comes with superior cyber-security protections, featuring an integrated hardware security module for robust key generation, and provides over-the-air updates for ongoing enhancements.

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Which geographic areas are influencing the growth of the automotive brake systems market?

Asia-Pacific was the largest region in the automotive brake system market in 2024. The regions covered in the automotive brake systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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