Brake System Global Market Report 2024

The global brake system market has grown strongly in recent years. It will grow from $29.62 billion in 2023 to $31.68 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The historic growth in the brake system market can be attributed to the expansion of the automotive industry, heightened consumer awareness and safety concerns, a growing vehicle fleet, innovations in brake materials, government initiatives promoting road safety, widespread adoption of disc brakes, and the increased weight and performance of vehicles.

The global brake system market is expected to see strong growth in the next few years. It will grow to $40.9 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The forecasted growth in the brake system market can be attributed to a regulatory push for advanced safety features, the emergence of energy recovery systems, increased investments in research and development, market competition driving product differentiation, and challenges in the global supply chain. Major trends in the forecast period include the rise of electrification and regenerative braking, the integration of advanced driver assistance systems (ADAS), the adoption of brake-by-wire technology, a focus on lightweight materials and design, the integration of electronic stability control (ESC), and the increasing role of digitalization and connectivity in brake systems.

The increasing number of road accidents is expected to fuel the growth of the brake system market. Car accidents, resulting in collisions with other vehicles or stationary objects, have led to a significant number of fatalities globally. Modern braking systems installed by car manufacturers play a crucial role in preventing accidents and minimizing the loss of lives. In 2021 alone, car accidents caused fatalities for 1.3 million people worldwide, according to the National Safety Council. With road accidents claiming nearly 1.3 million lives annually, the demand for effective brake systems is on the rise, driving growth in the market.

The increasing demand in the automotive industry is expected to be a key driver for the growth of the brake system market. Essential for vehicle safety, control, and performance, brake systems contribute to a smooth and secure driving experience. The global production of motor vehicles reached 85.4 million units in 2022, marking a substantial increase of 5.7% compared to the previous year. Moreover, the automobile sector achieved approximately 78 million unit sales in 2022, representing a significant 10% increase. The growth in the automotive industry underscores the importance of brake systems, driving market expansion.

Technological innovations are key trends shaping the brake system market, with major companies introducing new technologies to stay competitive. For instance, Orbis Brakes, in collaboration with NASA, launched periodic brake systems based on aerodynamics technology. These brakes are 50% lighter than standard cast-iron brakes, significantly reducing energy consumption in production and decreasing carbon usage. The innovation focuses on both performance and environmental sustainability, demonstrating a shift toward advanced technologies in brake systems.

Major companies in the brake system market are focusing on innovative products, such as intelligent braking systems, to drive revenue. Intelligent braking systems utilize advanced sensors and algorithms for adaptive and automated control, enhancing vehicle safety and efficiency. Brembo S.p.A., an Italy-based brake system manufacturer, introduced Sensify - an intelligent braking system incorporating sophisticated AI algorithms. Sensify offers a versatile platform with data management, predictive algorithms, and software, allowing easier integration with electric and internal combustion engine platforms. Intelligent braking systems represent a technological leap in vehicle safety and control, attracting demand and revenue in the market.

In April 2021, Brembo acquired J. Juan, a Spain-based braking system development and production company, for $70.05 million. This strategic acquisition enables Brembo to expand its brand family in the growing motorcycle market and complete its line of solutions for motorcycle braking systems. By acquiring J. Juan, Brembo strengthens its position as a reliable solution provider in the automotive industry, leveraging the expertise and product offerings of the acquired company.

Major companies operating in the brake system market report are Aisin Corporation, Brembo S.p.A., Continental AG, Haldex Brake Products Corp., Hitachi Automotive Systems Pvt. Ltd., Knorr-Bremse AG, Robert Bosch GmbH, ZF Friedrichshafen AG, Mando Corp., Nissin Kogyo Co. Ltd., TE Connectivity Ltd., KSR International Inc., Protection Vessels International Ltd., Batz S. Coop., ADVICS Co. ltd., Bwi Automotive Technologies Private Limited, AUDI AG, BMW AG, Hyundai Motor Company, Toyota Kirloskar Motor Private Limited, Akebono Brake Industry Co. Ltd., Disc Brakes Australia, Aptiv PLC, Federal-Mogul Holding Co., Hella Pagid GmbH, Performance Friction Corporation Brakes, TVS Brake Linings Co., Mando Corporation, Autoliv Inc., Denso Corporation, Freeman Automotive UK Ltd., and Hawk Corp.

North America was the largest region in the brake system market in 2023. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the brake system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the brake system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The brake system market encompasses various products such as disc brakes, drum brakes, and hydrostatic brakes. Disc brakes, commonly found in passenger cars, involve brake pads attached to brake calipers that grip rotating brake rotors to halt or slow down wheels. Friction arises as the brake pads press against the rotors, converting kinetic energy into thermal energy. Diverse technologies, including antilock braking systems (ABS), electronic stability control (ESC), traction stability control (TCS), and electronic brakeforce distribution (EBD), are applied in vehicles like passenger cars, light commercial vehicles (LCV), and trucks. End-users span the automotive, construction equipment, agricultural equipment, and industrial truck sectors.

The brake system market report is one of a series of new reports provides brake system statistics, including brake system industry, regional shares, competitors with a brake system market share, detailed brake system market segments, market trends and opportunities, and any further data you may need to thrive in the brake system industry. This brake system 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 brake system market consists of sales of the brake pedal, master cylinder, brake calipers, brake shoes, brake disc, brake rotor, and brake drum. 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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