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Automotive Brake System Market to be Worth Almost US$ 26 Billion by 2022; Compact
Passenger Cars to Race Ahead of Other Vehicle Types
A population explosion, higher standards of living in the middle class coupled with a vast array of
financial options have made it relatively easy to access personal forms of mobility in emerging
economies. A greater demand for passenger cars naturally benefits the automotive brake system
market. Furthermore, safety concerns amongst both consumers and the government have forced the
latter to implement stringent safety norms and mandates to improve vehicular safety. New
technological innovations such as regenerative braking and ABS also benefits the automotive brake
system market that is poised to record a robust CAGR of 5.7% from 2017 to 2022.
The automotive brake system market is predicted to record substantial growth over the course of the
forecast period because the automotive industry has a bright future ahead of it in both developed
and emerging economies. Increasing safety concerns have led to governmental mandates that lay
down the guidelines pertaining to vehicular safety norms. The growth in the automotive brake
system market is directly linked to that of the demand for passenger cars as well as commercial
vehicles. Furthermore, new technological innovations such as ABS and regenerative braking have
become prominent in the last decade. The automotive brake system market is anticipated to be
worth more than US$ 25 billion by the end of 2022.
Heavy commercial vehicles are a niche segment in the automotive brake system market by vehicle
type and are unlikely to grow substantially during the five-year study. The light commercial
vehicles automotive brake segment is nearly thrice the size of the heavy commercial vehicle
segment and is on track to grow with a robust CAGR of more than 6% from 2017 to 2022.
Companies would do well to focus on the Europe and North America light commercial vehicles
segment as both regions are substantially larger than all others in the automotive brake system
market in terms of market potential
A similar opportunity exists in both the luxury and premium passenger car segments in the
automotive brake system market. However, a slightly higher CAGR is projected in the premium
passenger car segment as mid-sized customers typically gravitate towards premium cars. The
premium passenger car automotive brake system market could easily cross a value of US$ 3 billion
at the end of 2022. Europe is home to a number of premium and luxury car manufacturers as several
of them have a long-standing heritage and are globally renowned.
The OEM channel holds the lion’s share of the automotive brake system market by sales channel
segment in the year 2017 and is estimated to remain dominant for the foreseeable future. The OEM
channel may generate an absolute dollar opportunity of over US$ 5 billion from 2017 to 2022.
The companies profiled in the automotive brake system market report are ZF Friedrichshafen AG,
Wabco Holdings Inc, Robert Bosch GmbH, Mando Corporation, Knorr-Bremse AG, Continental
AG, Brembo SpA, Akebono Brake Industry Co., and Aisin Seiki
Report Overview with TOC @ https://www.persistencemarketresearch.com/marketresearch/automotive-brake-system-market/toc
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