The global brake system market was valued at $41,620.00 million in 2019, and is projected to reach $61,196.70 million by 2027, registering a CAGR of 7.0% from 2020 to 2027
Brake System Market byProduct Type (Disc Brake, Drum Brake, Hydrostatic Brake, Hydraulic Wet Brake, and Regenerative & Dynamic Braking), Distribution Channel (Original Equipment Manufacturers (OEMs) and Aftermarket) and End Use (Automotive, Construction Equipment, Agricultural Equipment, Industrial Trucks, and Mining Equipment): GlobalOpportunity Analysis and Industry Forecast, 2020-2027.
Download Sample Report : https://www.alliedmarketresearch.com/request-sample/1024
Based on region, the market is analyzed across regions including Asia-Pacific, Europe, LAMEA, and North America. The Asia-Pacific region held lion’s share by generating more than two-fifths of the total share in 2019, and will maintain its lead position throughout 2027. Furthermore, this region is also projected to grow at the highest CAGR of 8.0% from 2020 to 2027.
The frontrunners profiled in the brake system market report include AISIN SEIKI Co., Ltd., CONTINENTAL AG, BREMBO S.P.A., Delphi Technologies, Hitachi Automotive Systems, Ltd., HALDEX, KNORR-BREMSE AG, Robert Bosch GmbH, Nissin Kogyo Co., Ltd., and ZF FRIEDRICHSHAFEN AG.
Interested to Procure The Data? Inquire here at https://www.alliedmarketresearch.com/purchase-enquiry/1024
Covid-19 Scenario-
The covid-19 outbreak has immensely affected the industry, as most of the original equipment manufacturers (OEM) have kept the production of brake systems on hold.
The supply chain management has been disrupted resulting in shortage of raw materials. The demand from automotive industry has decreased significantly during lockdowns.
However, the manufacturers have started reprocessing their activities as government bodies in several regions have eased off the regulations.
Key Findings Of The Study :
By product type, the regenerative & dynamic braking segment is expected to register a significant growth during the forecast period.
Depending on sales channel, the after market is anticipated to exhibit significant growth in the near future.
On the basis of end use, the automotive segment is projected to lead the global market, as the segment is expected to register higher CAGR as compared to other end use.
Asia-Pacific is anticipated to register the highest growth rate during the forecast period.
Request Customization : https://www.alliedmarketresearch.com/request-for-customization/1024
About Allied Market Research
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.