Yahoo Finance Vehicle Brake market size was USD 46.6 billion in 2021 and it will grow USD 73.15 billion by 2029 : GreyViews
Vehicle Brake Market Size By Product Type (Drum Brake and Disc Brake), By Vehicle (Passenger Vehicle and Commercial Vehicle), By Technology (Traction Control System (TCS), Electronic Brake-force Distribution (EBD), Anti-lock Brake System (ABS), and Electronic Stability Control (ESC)) Regions, Segmentation, and forecast till 2029.
Pune India, Dec. 05, 2022 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and Middle East and Africa. These are the key regions where the Vehicle Brake market is operating currently and is predicted to expand in the near future. The manufacturers and suppliers involved in the Vehicle Brake market is present across various countries in the above-mentioned regions.
Get Sample Copy of This Report @ https://greyviews.com/reports/vehicle-brake-market/130/request-sample
The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the product type, vehicle type, technology, and region. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.
The significant players operating in the global Vehicle Brake market are Advics Co. Ltd., ZF Friedrichshafen AG, Continental AG, Akebono Brake Industry Co., Hitachi Automotive System, Brembo SpA, Robert Bosch GmbH, Aisin Seiki Co.Ltd., Haldex, Web co, Nissin Kogyo Co. Ltd., and among others. To achieve a substantial market share in the worldwide Vehicle Brake market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
The car's braking mechanism stops or slows down, enabling the driver to prevent collisions and save lives. The pieces of the brake system include the master cylinder, brake pedal, brake calipers, brake shoes, brake disc, brake rotor, drum, brake lining, and hoses. Vehicles used in agriculture, mining, construction, and manufacturing are all dependent on the growth of the brake systems sector. Every braking system relies on frictional force to function. The relative motion of the bodies in touch with each other is resisted by friction. As the friction force presses the surface materials together to provide a braking action, the friction force relies on the type of surface materials in contact. As the demand for passenger and commercial vehicles rises in nations like China and India, the market for vehicle brake is anticipated to grow dramatically. The acceptance of luxury cars, the adoption of severe safety regulations, and the rising use of disc brakes in commercial vehicles contribute to the market's expansion. Additionally, only a certain number of kilometers can be covered by brake components before they need to be replaced, which is driving up the replacement market.
Enquiry Before Buying This Report @ https://greyviews.com/inquiry/130
Scope of Vehicle Brake Market Report
Report Metric | Information |
Study Period | 2021-2029 |
Base Year | 2021 |
Forecast Period | 2022-2029 |
Market Share Unit | USD Billion |
Segments Covered | Product Type, Vehicle, Technology, and Regions |
Regions Covered | North America, Europe, Asia-Pacific, South America and Middle-East and Africa |
Major Players | Advics Co. Ltd., ZF Friedrichshafen AG, Continental AG, Akebono Brake Industry Co., Hitachi Automotive System, Brembo SpA, Robert Bosch GmbH, Aisin Seiki Co.Ltd., Haldex, Web co, Nissin Kogyo Co. Ltd., and among others. |
Segmentation Analysis
Disc Brake segment is expected to be the fastest growing segment in 2021.
The product type segment includes drum brakes and disc brakes. The disc brake segment is expected to witness the highest growth rate during the forecast period. Disc brakes have seen a significant increase in use recently. The ability of disc brakes to operate in bad weather without overheating or fading is credited with their expansion. The disc brake market is growing even faster thanks to its connectivity with other cutting-edge systems.
The passenger vehicle automated segment is expected to be the fastest-growing segment in 2021.
The vehicle segment includes passenger vehicles and commercial vehicles. The passenger vehicles segment is expected to witness the highest growth rate during the forecast period. Due to rising populations, more disposable income, and urbanization, the number of passenger cars is rising. Manufacturers frequently create more effective braking systems to add more safety features. ADAS most significantly influence the principal market share and growth of passenger cars. Due to a growth in the demand for electromagnetic induction braking systems in cars, motorcycles, and other vehicles throughout the forecast period, rising ADAS spending is also anticipated to impact the brake systems market.
The outdoor segment is expected to be the fastest-growing segment in 2021.
The application segment includes the segment includes outdoors, swimming, and others. The outdoor segment is expected to witness the highest growth rate during the forecast period. The skin of babies is sensitive which makes them prone to several rashes and infections when exposed to the outdoor environment. So, in most cases, it is advisable to use mineral sunscreen lotions when going outdoors to avoid sunburns, tanning, rashes, and allergies.
The Anti-lock Brake System (ABS) segment is expected to be the fastest-growing segment in 2021.
The technology segment includes Traction Control System (TCS), Electronic Brake-force Distribution (EBD), Anti-lock Brake System (ABS), and Electronic Stability Control (ESC). The Anti-lock Brake System (ABS) segment is expected to witness the highest growth rate during the forecast period. The vigorous push by numerous auto industry groups to compel the deployment of ABS in strategic areas is what has led to the evolution of ABS technology. Similarly, electronic stability control technology is gaining popularity due to perceptions of its advantages in regaining vehicle control in an emergency. As a result, it is anticipated to fuel the market for automobile brake systems throughout the anticipated timeframe.
Regional Analysis
The regional analysis provides a detailed perception about the key regions and the countries. Some of the key countries analyzed for the Vehicle Brake include US, Canada, Mexico, Germany, France, U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa and Saudi Arabia.
Asia Pacific region witnessed a major share. The Asia-Pacific region is expanding as a result of the region's capacity to provide businesses with significant cost savings on labor and raw materials. Additionally, the center of the car manufacturing industry is located in nations like China and India. The market is anticipated to develop due to the increased popularity of automotive brake systems and increased sales of luxury and premium vehicles. Additionally, the rise in automotive ownership and the rising accident rate contribute to the market's expansion. North America is anticipated to experience significant growth during the predicted period. The expansion of the market in this area has been fueled by the growing demand for vehicles that perform better in poor weather conditions, the presence of major automakers, and the growth in the supply of light commercial vehicles and passenger automobiles. Additionally, the compulsory installation of ESC technology in all light cars starting in 2018 has fueled the regional market expansion.
Country Analysis
Germany
Germany's Vehicle Brake market size was valued at USD 3.5 billion in 2021 and is expected to reach USD 5.2 billion by 2029, at a CAGR of 5.1% from 2022 to 2029.
31.8% of the European market for car brakes is under German control. Industry giants including Robert Bosch, Continental AG, and ZF Friedrichshafen are based in Europe's Germany. Since automatic emergency braking will be required in all vehicles in the EU starting in May 2022, the automobile air disc brake market is developing quickly.
China
China’s Vehicle Brake market size was valued at USD 6.6 billion in 2021 and is expected to reach USD 10.75 billion by 2029, at a CAGR of 6.3% from 2022 to 2029. The market for vehicle brakes in China has expanded significantly in recent years because of the tremendous untapped potential in the region. Furthermore, because of the region's pro-industry government initiatives and increasing production of passenger cars and light commercial vehicles (LCVs), the region's need for vehicle brakes is expected to rise.
India
India's Vehicle Brake market size was valued at USD 4.2 billion in 2021 and is expected to reach USD 6.4 billion by 2029, at a CAGR of 5.6% from 2022 to 2029. Factors including the implementation of strict safety rules, the acceptance of luxury and high-end automobiles, and the expanding use of air disc brakes in commercial vehicles fuel the market in the region.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of this market is mainly driven owing to the increasing number of automobiles around the world.
Buy Now Full Report @ https://greyviews.com/checkout/130/single_user_license
Contact Us
Rocky Shah
GreyViews
Pune India
Phone: (+44) 162-237-1047
Email: sales@greyviews.com
Web: https://greyviews.com/
Follow Us: LinkedIn | Twitter
Browse Related Reports:
Rolled Ring Market Size by Type (Stainless Rolled Rings, Alloy Rolled Rings, and Carbon Rolled Rings), By Application (Automotive, Aerospace, Agriculture, General Industrial, and Others), Regions, Segmentation, and Projection till 2029
https://greyviews.com/reports/rolled-ring-market/136
Vehicle Gasoline Cleaner Market Size by Types (Clean and Maintenance), Application (Military Vehicle and Civil Vehicle), Regions, Segmentation, and Projection till 2029
https://greyviews.com/reports/vehicle-gasoline-cleaner-market/131
Vehicle Brake Market Size By Product Type (Drum Brake and Disc Brake), By Vehicle (Passenger Vehicle and Commercial Vehicle), By Technology (Traction Control System (TCS), Electronic Brake-force Distribution (EBD), Anti-lock Brake System (ABS), and Electronic Stability Control (ESC)) Regions, Segmentation, and Projection till 2029
https://greyviews.com/reports/vehicle-brake-market/130
Electric Vehicle Battery Case Box Market Size By Vehicle Type (PHEV, BEV, E-Bus, E-Truck), By Product Type (Metallic and Non-Metallic), Regions, Segmentation, and Projection till 2029
https://greyviews.com/reports/electric-vehicle-battery-case-box-market/127
Car Rack Market Size by Type (Roof Rack, Roof Box, Bike Car Rack, Ski Rack, and Watersport Carrier), By Application (Passenger Car and Commercial Car), By Material (Aluminum alloy, Composite Plastics, and Others), Regions, Segmentation, and Projection till 2029
https://greyviews.com/reports/car-rack-market/120
Car Wax Market Size by Product Type (Natural and Synthetic), By Form (Liquid and Paste), By Sales Channel (Manufacturer and Retailer & Distributor), Regions, Segmentation, and Projection till 2029
https://greyviews.com/reports/car-wax-market/113
Electric Scooter Market Size by Vehicle Type (E-Scooter/Moped and E-Motorcycle), Battery Type (Sealed lead acid and Lithium-ion), Distance Covered (Below 75 miles, 75-100 Miles, and Above 100 Miles), Technology (Plug-in and Battery), Voltage (36V, 48V, 60V, 72V, and Above 72V), Vehicle Class (Economy and Luxury), Usage (Commercial and Private), Regions, Segmentation, and Projection till 2029
https://greyviews.com/reports/electric-scooter-market/71
Automotive Motors Market Size by Motor Type (Brushed Motors, Brushless Motors, and Stepper Motors), Vehicle Type (Passenger Car, Light Commercial Vehicle, and Heavy Commercial Vehicle), Electric Vehicle Type (Hybrid Electric Vehicle (HEV), Plug-In Hybrid Electric Vehicle (PHEV), Battery Electric Vehicle (BEV), and Fuel Cell Electric Vehicle (FCEV)), Function (Performance Motors, Comfort Motors, and Safety Motors), Application (Alternator, ETC, Electric parking brake, Sunroof motor, Fuel pump motor, ECM, Wiper motor, Engine cooling fan, HVAC, VVT, EGR, Starter motor, Anti-lock brake system, EPS, PLG, and Others), Regions, Segmentation, and Projection till 2029
https://greyviews.com/reports/automotive-motors-market/70
Automotive Software Market by Application (ADAS and Safety Systems, Body Control and Comfort Systems, Powertrain Systems, Infotainment Systems, Communication Systems, and Telematics Systems), Vehicle Type (Passenger Car, LCV, and HCV), Software Layer (Operating System, Middleware, and Application Software), EV Application (Charging Management, Battery Management, and V2G), Regions, Segmentation, and Projection till 2029
https://greyviews.com/reports/automotive-software-market/69
Electric Trucks Market Size by Propulsion Type (BEV, PHEV, and FCEV), Type (Light Duty Trucks, Medium Duty Trucks, and Heavy Duty Trucks), End-User (Last-Mile Delivery, Long Haul Transportation, Refuse Services, Field Services, and Distribution services), Battery Capacity (Less Than 50kwh, 50-250 Kwh, and Above 250 Kwh), Payload Capacity (Up to 10,000 lbs, 10,001-26,000 lbs, and Above 26,001 lbs), and Level of Automation (Semi-autonomous and Autonomous), Battery Type (Lithium-Nickel-Manganese-Cobalt Oxide, Lithium-Iron-Phosphate, and Others), Regions, Segmentation, and Projection till 2029
https://greyviews.com/reports/electric-trucks-market/67
