Market Insights and Analysis: Automotive Brake System Market Overview and Projections (2024-2030)

The Global Automotive Brake System Market size was valued at around USD 23.25 billion in 2023 & is estimated to grow at a CAGR of around 6.1% during the forecast period, i.e., 2024-30.

Top leading companies in the Automotive Brake System Market includes:

Brembo S.p.A., Continental AG, ZF Industrial Technology Division,   Robert Bosch Gmbh, Akebono Brake Industry Co., Ltd., Aisin Seiki   Co.,  Ltd., Hitachi Astemo Ltd., Knorr-Bremse Ag, Haldex Ab, Denso   Corporation, Mando Corporation, Hyundai Mobis Co., Ltd., Wuhan   Youfin Auto Parts Co., Ltd., Bethel Automotive Safety System Co., Ltd.   (WBTL), Beringer, Others

Industry Recent Development:

·         2023: Brembo S.p.A. introduced Greenance, a cutting-edge brake kit tailored for light commercial vehicles. With over three times the lifespan of current aftermarket alternatives, Greenance slashes particulate emissions by over 80%. This innovative kit strikes a balance between efficiency and durability, significantly reducing environmental impact during braking.

·         2023: Continental AG launched its latest conventional electronic brake system, the MK 120 Electronic Stability Control. It has commenced supplying this system to Chinese automaker Changan.

·         2023: ZF Industrial Technology division unveiled its innovative brake-by-wire system that would integrate into vehicles supporting heavy-duty industries like construction, mining, and agriculture.

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Report Segmentation:

The market is categorized into the following segments in the report:

By Brake Type

-Disc Brakes

-Drum Brakes

-Hydrostatic Brakes

-Hydraulic Wet Brakes

-Dynamic Brakes

-Others

By Technology

-Anti-lock Braking System (ABS)

-Electronic Stability Control (ESC)

-Traction Control System (TCS)

-Electronic Brakeforce Distribution (EBD)

-Automatic Emergency Braking (AEB)

By Vehicle Type

-Passenger Cars

-Light Commercial Vehicles

-Trucks

-Buses

·         The Passenger Car brake systems segment is poised to dominate the Automotive Brake System Market, holding the largest market share during the forecast period.

By Actuation Type

-Hydraulic

-Pneumatic

By Component

-Master Cylinders

-Brake Pads

-Brake Shoes

-Brake Calipers

-Brake Disc Rotors

By Electric Vehicle Type

-Battery EVs

-Plug-in Hybrid EVs

By Application

-Agricultural Tractors

-Construction Equipment

-Mining Equipment

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Automotive Brake System Market Geographic Reach:

The Geographic Reach of the Automotive Brake System Market evaluates the spread and significance of Automotive Brake System market consumption across different regions/country, emphasizing areas with the largest market size and the most promising growth potential.

·         North America: US, Canada, Mexico

·          Europe: Germany, The UK, France, Spain, Italy, Rest of Europe

·          Asia-Pacific: China, India, Japan, South Korea, Australia, Rest of Asia-   Pacific

·          South America: Brazil, Argentina, Rest of South America

·          Middle East & Africa: UAE, Saudi Arabia, South Africa, Rest of MEA

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