Tuesday 23 July 2019

A Comprehensive Study of Automotive Braking System Market

Introduction: 


The automotive braking system market is expected to grow at a CAGR of 1.62% in 2024 with a market size of US$38.738 billion from US$35.180 billion in 2018. With the evolution of automobiles, their braking systems have also evolved. Today, there are several types of braking systems with some advanced features. The market size of such systems is expected to have a significant growth with increase in demand for automobiles. 

automotive braking system market analysis
The number of road accidents has also seen a considerable rise all over the world.  This increases the need to incorporate advanced technology in the braking system of commercial and passenger vehicles such as the anti-lock braking system (ABS). Governments and international organizations have introduced several safety norms including making ABS mandatory. So, the automotive braking system market growth is estimated to be significant during the forecast period.


Automotive Braking System Market By Brake Type:


On the basis of brake type, the market is mainly segmented into disc and drum brakes. Both of these brakes work on basis of frictional contact but disc brakes have more stopping power and score high in terms of efficiency and safety. The disc brakes dissipate heat more effectively. Brake fade occurs when brakes lose their effectiveness when the vehicle is going downhill. In case of disc type, it takes longer to achieve brake fade and so they work better on steep descends. Disc brake performs better in wet conditions as drum types have the potential to collect water during rain. Due to these advantages of disc type, the automotive braking system market share for this segment is expected to be significant. 

AUTOMOTIVE BRAKING SYSTEM MARKET, BY SYSTEM TYPE
Disc brakes are used in most of the heavy-duty vehicles. Low and medium-priced vehicles are mounted with front-disc/rear-drum setup as drum types are cheaper and this mechanism is quite effective in stopping the vehicle. The disk brakes are completely self-adjusting because of which there is a wide variety of brake pads to choose from. There are disc brake conversion kits to change from drum brake to more efficient disc brakes. This is expected to fuel the market growth of this segment.

Automotive Braking System Market By Geography—North America:


The automotive braking system market size for North America is estimated to be significant while the Asia Pacific market is expected to have a notable growth rate. North America has several leading automotive manufacturers which has contributed to this large market share. There are stringent government regulations and a rising demand for advanced safety systems in vehicles. Within the North American region, the market is further segmented into US, Canada and Mexico. US is estimated to lead the market growth among these segments. 

AUTOMOTIVE BRAKING SYSTEM MARKET SHARE BY COUNTRY


There is high demand for technologically advanced automobiles in this region. The demand for SUVs has grown in North America because of its use in off-terrain activities. The braking system being an integral part of the vehicle, its demand has also seen a considerable rise. So the automotive braking system market trend is expected to be positive in the years to come.


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