Brake system is a mechanical or electrical device that enables vehicle slow down or stop as per the driver’s requirement. Brakes are one of the important parts of vehicles. Brake system includes aset of components such as brake pedal, master cylinder, brake calipers, brake shoes, brake disc, brake rotor, brake drum, brake lining, and hoses. Brake system market growth is totally dependent on the performance of the end use industries such as automotive, construction equipment, agricultural equipment, mining equipment,and industrial trucks. To slow down or stop the vehicle or equipment at a desired level is most crucial factor as it is associated with work efficiency and loss of human life. The extreme working conditions such as construction and mining activities require a durable and cost-effective brake system to attain the desired working output. The drum brakes are the commonly usedbrakes across all the end-use industries due to its simple construction andcost effectiveness.
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Major Market Players:
- AISIN SEIKI Co. Ltd
- BREMBO S.P.A.
- CONTINENTAL AG
- Delphi Technologies
- Hitachi Automotive Systems, Ltd.
- KNORR-BREMSE AG
- Nissin Kogyo Co., Ltd.
- Robert Bosch GmbH
- ZF FRIEDRICHSHAFEN AG
The factors such as increase in sales & production of commercial vehicles and off-highway trucks, rise instringency of automotive active safety regulations, and impact of new car assessment program (NCAP) on electronic brake systems are expected to drive the global brake system market. However, high development cost of electronic brake systems andhigh installation & maintenance cost are expected to restrain the growth of market during the forecast period. Moreover, regulations related to load carrying capacity and mandates on air brakes installation, introduction of brake-by-wire system, introduction of regenerative braking are anticipatedto supplement the global brake system market growth; thus, providing a better opportunity for the growth of the market in the near future.
The global brake system market is segmented on the basis of product type, sales channel, end use, and region. Based on product type, the global brake system market has been categorized into disc brakes, drum brakes, hydrostatic brakes, hydraulic wet brakes, and regenerative & dynamic braking. Based on sales channel, the global brake system market has been categorized into original equipment manufacturers (OEM) and aftermarket. Based on end use, the market has been categorized into automotive, construction equipment, agricultural equipment, industrial trucks, and mining equipment. Region wise, the global brake system market has been studied across North America, Europe, Asia-Pacific, and LAMEA.
Key Market Segments
- By Product Type
- Disc Brakes
- Drum Brakes
- Hydrostatic Brakes
- Hydraulic Wet Brakes
- Regenerative & Dynamic Braking
- By Distribution Channel
- Original equipment manufacturers (OEMs)
- By End Use
- Construction Equipment
- Agricultural Equipment
- Industrial Trucks
- Mining Equipment
- BY DISTRIBUTION CHANNEL
- Original equipment manufacturers (OEMs)
The brake systems are integral parts of a vehicle. Thus, an increase in commercial vehicle production and sales have a direct impact on the brake system market. For instance, according to the data by the International Organization of Motor Vehicle Manufacturers (OICA), the global sales of commercial vehicles in 2019 was 27 million units, that is, a growth of 3.8% was encountered as compared to 2018. In addition, increase insales of commercial vehicles, primarily driven by the growth of logistics industry, islikely to propel the development of brake systems. Moreover, growth inproduction of commercial vehicles hasled to increase in demand for active safety system. Therefore, companies are implementing and launching active safety technologies such as advanced driver assist systems (ADAS) features in commercial vehicles. For instance, in 2020, Volvo Trucks launched four new generation of heavy-duty trucks. The truck is equipped with advanced driver assist systems (ADAS), which includeforward-collision warning, adaptive cruise control, lane departure warning, and automatic emergency braking. Furthermore, owing to increase inconstruction & infrastructure development projects, rise ininvestments in the mining industry, and surge indemand for technologically advanced trucks, the sales of off-highway trucks is expected to witness growth in the near future. Thus, increase insales & production of commercial vehicles and off-highway trucks fuelthe growth of the brake system market.
The governments around the world aremainly focusing on the standard that will lead to increased safety of the driver and passengers. Therefore, the regulatory authorities have established stringent regulations aiming to improve active safety in vehicles. For instance, the U.S. Department of Transportation’s National Highway Traffic Safety Administration (NHTSA) and Insurance Institute for Highway Safety (U.S.), along with 20 prominent vehicle manufacturers, announced to incorporate automatic emergency braking (AEB) systems as a standard feature in all new cars from September 2022. From September 1, 2018, to August 31, 2019, 12 manufacturers equipped more than 75% of their new passenger vehicles with automatic emergency braking (AEB) systems. In addition, theGovernment of India mandated anti-lock braking system (ABS) for all two-wheelers above 125 cc and combined-braking system (CBS) for all two-wheelers below 125 cc, for the launches planned on or after April 1, 2018 to meet the norms. Therefore, stringency of automotive active safety regulations results in increased demand for active safety system in the vehicles. Thus, the brake system manufacturers are focusing on the development of advanced braking system to meet the new regulations, which, in turn, drivesthe growth of the air brake system market.
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