Automotive Brake System Market worth $26.5 billion by 2026
Transportation News and Press release service

Home > Transportation News
  • Aerospace News
  • Air Services News
  • Airlines News
  • Auto Dealership
  • Auto Manufacturers
  • Auto Parts News
  • Railroad News
  • Shipping News

    Watch Transportation News Video


  • Automotive Brake System Market worth $26.5 billion by 2026

     



    (Transportation-News.com, August 05, 2021 ) The Automotive Brake System Market is projected to reach USD 26.5 billion by 2026 from an estimated USD 20.9 billion in 2021, at a CAGR of 4.9% during the forecast period.



    The growth of the Automotive Brake System Market is influenced by a major factor such as the stringency in safety standards in countries such as China, India, Brazil, European Union, the US, Canada, etc. In addition, the anticipated increase in demand for premium and luxury cars are expected to boost the disc brake market growth. Also, the growing adoption of disc brakes in commercial vehicles due to its technical benefits in North America, Asia Pacific is expected to drive Automotive Brake System Market. Therefore, the Automotive Brake System Market is expected to witness significant growth in the coming years.



    Browse in-depth TOC on "Automotive Brake System Market"

    154 – Tables

    56 – Figures

    211 – Pages



    The Automotive Brake System Market is dominated by globally established players such as Robert Bosch GmbH (Germany), ZF Friedrichshafen AG (Germany), Continental AG (Germany), Aisin Seiki Co, Ltd. (Japan), Knorr-Bremse AG (Germany), and Brembo S.p.A (Italy), ADVICS Co., Ltd. (Japan).



    Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1070



    Anti-lock brake systems are expected to be the fastest market during the forecast period



    ABS prevents lockups and skidding and offers enhanced stopping power. Not only does it offer technical benefits, but also advantages such as lower insurance costs and higher resale value. Stringency in safety standards has made ABS a mandatory feature in vehicle models. ABS has become a mandatory feature in the US, Europe, Brazil, India, Japan, South Korea, and many more countries. Also, vehicles fitted with ABS have a lower risk of crash/accidents. Asia Pacific is the largest ABS market, with the main markets being China and India. This is attributed to the implementation of regulations, making it a mandatory feature. For instance, in 2017, in India, the Ministry of Road Transport & Highways (MoRTH) released a notification, which makes ABS mandatory for all cars to be sold from April 2019. Thus, with increasing vehicle production globally, the ABS market is expected to witness constant growth.



    The passenger car segment is expected to be the largest growing market



    Increasing adoption of electronic brakes is expected to further drive the passenger car Automotive Brake System Market. Although electronic brakes are popular in Europe and North America, the increasing penetration of such brakes in the Asia Pacific is expected to boost the Automotive Brake System Market. For instance, in 2017, ZF with Brakes India successfully started production of the first Electric Park Brake (EPB) system with a global OEM, marking it the first launch of its kind for the Indian market. Although electronic parking brakes have been a feature in European and North American cars, their adoption in cost-sensitive countries such as India and China are expected to drive the passenger car Automotive Brake System Market.



    Request FREE Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=1070



    North America is expected to lead the market during the forecast period



    The Asia Pacific has emerged as a hub for automotive production in recent years due to changing consumer preferences, increasing disposable income of the middle-class population, and cost advantages for OEMs. Manufacturers such as BMW (Germany) and Volkswagen AG (Germany) have already set up their manufacturing units in these countries on a large scale. The implementation of safety standards in China, India is expected to drive the adoption of electronic braking systems. Japan has the highest penetration of advanced electronic braking systems in its vehicles. This is due to the already implemented stringent safety regulations. For instance, ABS and ESC are mandatory in all passenger cars and LCVs. In 2019, the Japanese government implemented a new policy that requires all new cars, minicars, and minitrucks to be equipped with automatic braking systems (AEB) from fiscal 2021 to meet international standards and help prevent accidents. Thus, considering the above-mentioned factors, Automotive Brake System Market is expected to witness significant growth in the coming years.



    About MarketsandMarkets™



    MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.



    Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.



    MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.



    Contact:

    Mr. Aashish Mehra

    MarketsandMarkets™ INC.

    630 Dundee Road

    Suite 430

    Northbrook, IL 60062

    USA: 1-888-600-6441

    Email: sales@marketsandmarkets.com

    Research Insight: https://www.marketsandmarkets.com/ResearchInsight/automotive-brake-system-market.asp

    Visit Our Web Site: https://www.marketsandmarkets.com

    Content Source: https://www.marketsandmarkets.com/PressReleases/automotive-brake-system.asp



    MarketsandMarkets™

    Mr. Aashish Mehra

    1-888-600-6441

    newsletter@marketsandmarkets.com

    Source: EmailWire.Com

    Source: EmailWire.com

    Transportation Resources

    For unlimited press release distribution for $99 per month, call (281) 645-4086 or start posting your press releases online at EmailWire.com.
    Copyright 2007 GroupWeb Media LLC
    GroupWeb Media Network

    Aviation-NewsWire | ArtNewsWire | Auction NewsWire | CRM NewsWire | ePhotoNewsWire | Energy Industry | EstateNewsWire | Entertainment-NewsWire.com | Food Beverage News | Glamour NewsWire | Health NewsWire | Hosting NewsWire | i-Auto NewsWire | i-Business News | i-Homeland Security.Com | iMac-NewsWire.Com | i-Press-Release-Service | i-SoftwareNews.com | iT-NewsWire.Com
    | i-TravelNewsWire.Com | MoneyNewsWire.Net | Movie-Stars-News.Com | MSNewsWire.Net | PharmaNewsWire.Com | Publishing-NewsWire.Com | RSSNewsWire.Net | Telecom-NewsWire.Net | Transportation-News.Com | USGovernment-News.Com | WebPosters.Net | Wireless-NewsWire.Com | VoIPNewsWire.Net | XSportsWorld.Net
    EuropeNewswire.net - Newswire and Press Release service of GroupWeb Media LLC