The report encompasses the forecast as well as analysis of the brake system market on a global and regional level. The study displays historical data of 2016 to 2019 along with a forecast from 2020 to 2026 based on revenue (USD Million). Additionally, the market growth drivers, opportunities, limitations, and trends are also included in the brake system market report.
We have included industry analysis models in our report and extensively demonstrated the key business strategies and competitive landscape of the brake system market in our study.
Our study also includes an analysis of Porter’s Five Forces framework for understanding the competitive strategies used by market competitors. It also encompasses PESTLE analysis and SWOT analysis of players.
The report also offers an in-depth analysis of the market share of each industry player and gives an outline of the market position of key players in the brake system market. Moreover, the study offers wide coverage of key strategic improvements witnessed in the market such as acquisitions & mergers, new product launches, agreements, partnerships, collaborations & joint ventures, R&D activities, and geographical expansion of key players of the brake system market.
The study provides a decisive view of the brake system market by segmenting the market based on component, organization size, deployment types, and end-use industry vertical, and regions. All the segments have been analyzed based on present and future trends and the market is estimated from 2020 to 2026. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The braking system is crucial safety equipment in vehicles. It aids the driver in controlling the vehicle as per the situation such as stopping the vehicle, parking anywhere and avoid road accidents. Increase usage of brake systems owing to the rise in the production of passenger vehicles is driving the global brake system market. Moreover, government regulation towards safety is pushing the automotive industry to integrate advanced technologies in brake force distribution systems. The combination of active and passive brake systems will assist drivers to get rid of crashes and accidents. Therefore, it will play a significant role in supplementing the demand for brake systems in international markets. However high development cost of brake systems and the existence of counterfeit brake assistance products in the aftermarket industry are hindering the market growth.
The brake system market is segmented based on product type and vehicle type. The product is further categorized into drum and disc brake. On the basis of the vehicle type segment, the market is divided into passenger vehicles and commercial vehicles. Increased urbanization, combined with growing infrastructure development spending in emerging economies such as India, China, and Turkey, has considerably increased the demand for passenger cars. As a result, the passenger vehicle segment dominants the global brake system market. Massive investment initiatives are being taken by market players to enhance their products. For instance, the automotive technology company Continental AG has introduced the ABS3 anti-lock braking system, which ensures greater speed and improved brake pressure control. Certain initiatives will create a high demand for the growth of the brake systems market world widely.
Key players operating in the brake system market are ZF Friedrichshafen AG, Aisin Seiki Co Ltd., Brembo, Continental AG, Akebono Brake Industry, Knorr-Bremse, Chassis Brakes International, Nissin Kogyo Co., Ltd, APG Performance Brakes, Haldex, Dongying XinYi Auto parts Co. LTD, BeijingWest Industries, and Wabco among others.
This report segments the brake system market as follows:
Global Brake System Market: By Product Segment Analysis
Global Brake System Market: By Vehicle Type Segment Analysis
Global Brake System Market: By Channel Segment Analysis
Global Brake System Market: Regional Segment Analysis
Key Pointers Addressed by the Report
Table of Content
Key Insights from Primary Research
Key Recommendations from Analysts
Market Share – By Product Type
Industry Major Market Players