Global Automotive Friction Brake System Market accounted for US$ 18.23 billion in 2020 and is estimated to be US$ 28.13 billion by 2030 and is anticipated to register a CAGR of 4.50%. A brake is a mechanical device that absorbs energy from a moving system, usually through friction, to slow or stop a vehicle. A car braking system may bring a vehicle to a complete stop in the least amount of time by converting kinetic energy into heat energy. The demand for passenger and commercial cars is intimately linked to the global Automotive Brakes Market's quick growth in the next years. Furthermore, new technological advancements such as regenerative braking and anti-lock braking systems (ABS) have become increasingly popular. Automobile makers are always creating new and improved features to make driving more enjoyable while remaining safe.
The report " Global Automotive Friction Brake System Market By Type (Disc Brake, and Drum Brake), By Application (Passenger Cars, LCVs, and HCVs)), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis, and Forecast till 2029’’
Key Highlights:
- ZF introduced an industry-first Front Electric Park Brake in March 2020, bringing the range of Electric Park Brake (EPB) systems to a larger variety of automobiles. Car manufacturers can now equip smaller vehicles with modern braking systems and design interiors without the traditional handbrake lever or park brake pedal thanks to this approach.
- TRW (ZF's aftermarket brand) expanded its product offering for the independent aftermarket in the two-piece brake disc segment in November 2020. These brake discs are now available for a number of Mercedes-Benz C- and E-Class cars as well. In mid-2021, additional references for the Stuttgart premium manufacturer's S-Class and GLC vehicles will be released.
- Brembo debuted its new Brembo Sport | T3 brake disc in March 2021. The new Brembo Sport | T3 disc is a direct replacement for original equipment discs and features two immediately distinguishing features over the previous version: Type3 slotting and the Brembo emblem engraved on the brake surface. For a road disc, these innovative technologies and design characteristics are a first.
Analyst View:
Automobile manufacturers are continually developing new and improved products to make driving more comfortable and safe. Players routinely design anti-lock braking systems, electronic stability control, and anti-collision gadgets in order to create safer and better vehicles. Take, for example,
Continental AG has developed a third generation anti-lock braking system (ABS) that responds to vehicle speeds while also providing safer, more controlled, and optimal braking performance.Bosch has released an antilock braking system for e-bikes that prevents the front wheel from locking up and controls the rear wheel from rising.
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Key Market Insights from the report:
Global Automotive Friction Brake System Market accounted for US$ 18.23 billion in 2020 and is estimated to be US$ 28.13 billion by 2030 and is anticipated to register a CAGR of 4.50%. The global automotive friction brake system market report segments the market on the basis of type, application, and region.
- Based on Type, Global Automotive Friction Brake System Market is segmented into Disc Brake, and Drum Brake.
- Based on Application, Global Automotive Friction Brake System Market is segmented into Passenger Cars, LCVs, and HCVs).
- By Region, the Global Automotive Friction Brake System Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Landscape & their strategies of Global Automotive Friction Brake System Market:
The key players operating in the automotive friction brake system market are Akebono Braking Industry Corporation, Brembo, Continental, Delphi Automotive, TRW Automotive Holdings
Aisin-Seiki, Federal-Mogul Corporation, Robert Bosch, Halla Mando Corporation and Haldex
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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