Automotive Brakes And Clutches Global Market Report 2024

Automotive brakes and clutches play a crucial role in controlling and regulating the movement of vehicles. Brakes are transmission and control devices that stop a moving load, while clutches are devices that facilitate energy transfer from the driver to the driven shaft. These components are essential for changing the rotational speed of the rotating tires of vehicles.

The automotive brakes and clutches market comprises two main product categories such as Original Equipment Manufacturer (OEM) and aftermarket. OEM involves the manufacture of systems or components used in another company's end product, producing genuine parts directly from the vehicle's maker. The various types of clutches include friction clutch, dog clutch, hydraulic clutch, and others, catering to different transmission types such as manual transmission, automatic transmission, and automated manual transmission (AMT). Applications for these components span passenger cars and commercial vehicles.

The automotive brakes and clutches market research report is one of a series of new reports that provides automotive brakes and clutches market statistics, including automotive brakes and clutches industry global market size, regional shares, competitors with an automotive brakes and clutches market share, detailed automotive brakes and clutches market segments, market trends and opportunities, and any further data you may need to thrive in the automotive brakes and clutches industry. This automotive brakes and clutches 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 brakes and clutches market size has grown strongly in recent years. It will grow from $25.7 billion in 2023 to $27.04 billion in 2024 at a compound annual growth rate (CAGR) of 5.2%. The growth in the historic period of the automotive brakes and clutches market can be attributed to the early development of automobiles, the increase in vehicle mass and speed, the adoption of hydraulic brake systems, the demand for improved safety features, and the evolution of automotive manufacturing processes.

The automotive brakes and clutches market size is expected to see strong growth in the next few years. It will grow to $33.57 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period of the automotive brakes and clutches market can be attributed to the electrification of vehicles, the development of smart braking systems, a focus on energy recovery systems, and continued emphasis on safety and autonomous driving. Major trends in the forecast period include brake-by-wire systems, regenerative braking technologies, lightweight and high-performance brake materials, integration with advanced driver assistance systems (ADAS), and modular and compact clutch designs.

The expansion of the automotive industry is poised to drive the growth of the automotive brakes and clutches market. This industry encompasses all facets involved in automobile production, including various components such as engines, bodywork, tires, and batteries. With the continual growth projected in the automotive industry, the demand for automotive brakes and clutches, crucial components of vehicles, is anticipated to surge. For instance, McKinsey predicts that the automotive revenue pool, comprising traditional car sales and aftermarket products/services, will elevate to approximately $5.2 trillion, marking a 50% increase from the $3.5 trillion reported in 2015. Moreover, the global car sales are anticipated to grow annually by around 2% until 2030. In India, the automotive industry is forecasted to reach a substantial valuation of $251.4-282.8 billion by 2026. Consequently, the flourishing automotive industry serves as a driving force for the expansion of the automotive brakes and clutches market.

The upsurge in sales of passenger vehicles is expected to significantly propel the automotive brakes and clutches market. Passenger vehicles, designed for transporting up to ten individuals excluding the driver, rely significantly on efficient braking systems. The automotive brakes and clutches play a critical role in ensuring reliable braking mechanisms within these vehicles. For instance, statistics from the European Automobile Manufacturers Association indicate a notable 11.5% increase in EU passenger car registrations, rising from 719,783 units in 2022 to 802,763 units in 2023. This surge in passenger vehicles underlines the heightened demand for automotive brakes and clutches, emphasizing their pivotal role in the automotive sector's growth.

Technological advancements are emerging as a prominent trend in the automotive brakes and clutches market. Leading companies in this sector are prioritizing the introduction of innovative technologies to fortify their positions in the market. As an illustration, Maruti Suzuki, an India-based vehicle manufacturer, developed S-Assist, an AI-based 24-hour virtual car assistant app for its Nexa model cars in 2021. This AI-powered technology is implemented in automobiles to assist drivers by automatically applying brakes upon detecting obstacles ahead, thereby enhancing safety and driving efficiency.

Leading companies in the automotive brakes and clutches sector are dedicated to introducing innovative brake and clutch fluids that ensure consistent high performance. For instance, in January 2023, Apec, a UK-based automotive aftermarket manufacturer, launched a new line of Brake & Clutch Fluid specifically engineered to deliver unwavering high performance from the container to the brake system. Engineered to suit ABS systems, the Apec DOT 4 brake fluid, a synthetic fluid with a high boiling point, offers robust protection tailored for a spectrum of vehicles, including standard, high-performance, and commercial vehicles adhering to DOT 3 or 4 specifications.

In November 2021, BREMBO S. P., an Italian-based automotive brake system manufacturing company, successfully acquired J. Juan for a reported deal worth $73 million. This strategic acquisition is poised to enable Brembo to expand its market reach and further establish itself as a trusted and comprehensive solution provider. J. Juan, headquartered in Spain, specializes in designing top-tier braking performance solutions for motorcycles worldwide. This strategic move allows Brembo to diversify its offerings and broaden its presence in emerging markets.

Major companies operating in the in the automotive brakes and clutches market report are FCC Co. Ltd., BorgWarner Inc., NSK Ltd., Valeo Service Group, Robert Bosch GmbH, Brembo SpA, Continental AG, ZF Friedrichshafen AG, Marelli Holdings Co. Ltd., Exedy Corporation, Eaton Corporation, Aisin Seiki Co. Ltd., Autoliv Inc., Tenneco Inc., Mando Corporation, Knorr-Bremse AG, Wabco Holdings Inc., Haldex AB, Meritor Inc., Hitachi Automotive Systems Ltd., Nissin Kogyo Co. Ltd., Advics Co. Ltd., Federal-Mogul Motorparts LLC, Bendix Commercial Vehicle Systems LLC, TRW Automotive Holdings Corp., Delphi Technologies plc, Charlotte Baur Formschaumtechnik GmbH, Woco Industrietechnik GmbH, Roechling Group, Erlingklinger AG

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

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

The automotive brakes and clutches market consists of sales of basic friction clutch, wet and dry clutches, dual-clutch systems, and electromagnetic and electrohydraulic clutches. 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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