Automotive Brake Systems Global Market Report 2024

Automotive brake systems are crucial components designed to slow down or bring a vehicle to a halt, primarily relying on friction to create resistance and exert force between two objects. These systems play a key role in preventing skidding, restoring traction to tires, and avoiding accidents.

There are two main types of automotive brake systems such as disc brakes and drum brakes. Disc brakes offer advantages such as less brake fade and better performance in wet conditions. They consist of a brake caliper, metal rotor, and brake pads to stop the vehicle. Various technologies are integrated into automotive brake systems, including antilock braking systems (ABS), electronic stability control (ESC), traction stability control (TCS), and electronic brakeforce distribution (EBD). These technologies contribute to enhanced safety and performance. Automotive brake systems cater to different types of vehicles, including passenger cars, light commercial vehicles (LCV), trucks, and buses. These systems are distributed through channels such as original equipment manufacturers (OEM) and the aftermarket.

The automotive brake systems market research report is one of a series of new reports that provides Automotive brake systems market statistics, including automotive brake systems industry global market size, regional shares, competitors with an automotive brake systems market share, detailed automotive brake systems market segments, market trends and opportunities, and any further data you may need to thrive in the automotive brake systems industry. This automotive brake systems market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The automotive brake systems market size has grown strongly in recent years. It will grow from $35.57 billion in 2023 to $38 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The historic growth of automotive brake systems can be attributed to various factors, including the implementation of safety regulations, consumer demand for enhanced safety features, the overall increase in global vehicle production, economic factors influencing the automotive industry, and a growing demand for aftermarket brake system components.

The automotive brake systems market size is expected to see strong growth in the next few years. It will grow to $50.55 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The forecasted growth in the automotive brake systems market is expected to be driven by factors such as the increased adoption of electric and hybrid vehicles, advancements in autonomous vehicle technology, compliance with environmental regulations, the integration of connected vehicle technology, the emergence of new markets, a focus on energy efficiency, and the globalization of the automotive market. Key trends in the forecast period include the widespread adoption of advanced driver assistance systems (ADAS), the use of lightweight and high-performance materials, the implementation of brake-by-wire technology, the development of connected brake systems, and increased industry partnerships.

The automotive brake systems market is anticipated to experience growth due to the escalating demand for both passenger and commercial vehicles. This surge is attributed to the increased disposable income among individuals globally, leading to a heightened preference for personal vehicles for daily commuting. The consequential rise in the demand for these vehicles is expected to correspondingly elevate the utilization of automotive brake systems. For example, in June 2021, the International Organization of Motor Vehicle Manufacturers reported a global increase in passenger car sales from 53 million in 2020 to 56 million, while commercial vehicle sales rose from 24 million to 26 million during the same period. Hence, the surge in passenger and commercial vehicle demand is poised to boost the requirement for automotive brake systems in the coming years.

The burgeoning demand for electric vehicles (EVs) is projected to be a driving force in the growth of the automotive brake system market. EVs, powered by electric motors, necessitate efficient and secure brake systems. Automotive brake systems provide safer and more effective regenerative braking mechanisms for these vehicles, ensuring enhanced safety features to prevent accidents. For instance, the Global EV Outlook 2022 reported a record high of 6.6 million electric vehicle sales, reflecting a doubling from the previous year. Electric cars contributed to 4% of total global car sales in 2021. Consequently, the increasing demand for electric vehicles is stimulating growth in the automotive brake system market.

A prominent trend in the automotive brake systems market is the introduction of innovative brake technologies designed to enhance vehicle safety. Advanced braking systems like multi-collision brake systems, equipped with instant collision recognition and automatic braking capabilities, are significantly reducing the risk of secondary accidents. This sophisticated brake technology empowers vehicles to swiftly slow down or halt to avert severe accidents. For instance, ZF Friedrichshafen, a Germany-based technology company, launched OnGuardMAX in April 2021, an advanced autonomous emergency braking system for commercial vehicles in China. Utilizing high-resolution dual-lens cameras and an advanced radar sensor, this system autonomously detects and reacts to moving or stationary vehicles, motorcycles, bicycles, and pedestrians, demonstrating high-performance image processing capabilities.

Numerous entities within the automotive brake system market are actively engaging in strategic collaborations to fortify their market presence. These collaborations often encompass various activities such as joint research and development endeavors, partnerships to enhance product or service delivery, and alliances geared towards venturing into new markets. As an example, in 2022, Orbis Brakes, a US-based automotive parts company, introduced an innovative braking technology crafted through a partnership with NASA. Their collaboration led to the creation of a patented Periodic Wave disc brake, leveraging advanced aerodynamics to significantly enhance surface cooling and diminish brake fade. This groundbreaking braking technology aims to offer the performance standards akin to Formula One vehicles for everyday road use.

In November 2021, Brembo S. p. A, an Italy-based manufacturer specializing in automotive brake systems, acquired J. Juan for approximately USD 78 million. This strategic acquisition is poised to augment Brembo's suite of motorcycle braking system solutions and bolster its portfolio within the burgeoning motorcycle sector. J. Juan, headquartered in Spain, is recognized for its expertise in the development and manufacturing of motorbike braking systems.

Major companies operating in the in the automotive brake systems market report are 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, Thompson Ramo Wooldridge Inc., 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

Asia-Pacific was the largest region in the automotive brake system market in 2023. The regions covered in the automotive brake systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the automotive brake systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The automotive brakes systems market consists of sales of emergency brakes and anti-lock brakes. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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