According to a new market research report published by Credence Research “Automotive Braking System Market (By Type (Disc, Drum), By Mode of Operation (Hydraulic, Pneumatic), By Technology (ABS, ECS, Regenerative), By Vehicle Class (Two Wheelers, Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles)) – Growth, Future Prospects and Competitive Landscape, 2016-2024”, automotive braking system market is estimated to grow with a CAGR of 5.5% from 2016 to 2024.
The purpose of the report is to illustrate the state of the market of Automotive Braking System, to present actual information about the volumes of production, exports, imports, consumption and the state of the market, the changes that took place in 2017, and also, to build a forecast for the growth of the industry in the medium term until 2026.
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The demand for automotive braking system is majorly driven by the rise in the number of on-road vehicles. Introduction of electronics into automatic braking system has made the conventional braking systems safer, stabilized and cost effective in long term. Features such as antilock braking system, and electronic stability control are incorporated in automotive braking system, making them more reliable and safer. Subsequently, electronic braking system has observed profound adoption in automobiles around the world. Another major factor fueling the market growth is safety regulation enforced by the national governments across different countries.
Automotive braking system is segmented according to types, mode of operation, technology and vehicle class. According to type, brakes are classified into disk brake and drum brake. As of 2015, disk brake system segments outrun the drum type braking system segment in the overall automotive braking system market. Disk brakes are efficient and quick to response; consequently, they are now being applied in nearly all of the automotive vehicles. Further, automotive braking systems are segmented, on the basis of mode of operation, as hydraulic brake and pneumatic brake according to applying medium. Due to extensive use in passenger cars, light commercial vehicles and two wheelers, hydraulic braking system acquires the majority of market share compared to pneumatic braking system market.
Automotive braking system market is further segmented based on technology into antilock braking system, electronic stability control and regenerative braking system. Antilock braking system is the most widely used technology in nascent times. Being relatively new technology than antilock braking system, electronic stability control system follows antilock braking system in the overall automotive braking market. Depending upon the vehicle class, braking system is segmented into passenger cars, light commercial vehicles, heavy commercial vehicles and two wheelers. Passenger cars and two wheelers segments jointly dominates the overall automotive braking system markets. Heavy commercial vehicles market is expected to grow consistently during the forecast.
Automotive braking system market is quite competitive in nature with several multinational companies facing remarkable competition from regional manufacturers. The international players such as Continental AG, Robert Bosch GmbH, ZF TRW, Akebono Brake Industry Co. Ltd., Halla Mando Corp. and others are striving continuously to expand their reach to the customers and increase their sales. Manufacturers are developing technologies such as antilock braking system (ABS), electronic stability control (ESC), regenerative braking and others for making automotive braking more efficient, reliable and safer.
Why was the report written?
This report is the result of an extensive survey drawn from Credence Research’s exclusive panel of leading global market industry executives; it provides data and analysis on buyer investment, acquisition, and developments within the global market research. It includes key topics such as global Automotive Braking System buyer expenditure and procurement behaviors and strategies and recognizes the threats and possibilities within the industry, economic outlook trends, and business confidence within global industry executives. Most secondary research reports are based on general industry drivers and do not understand the industry executives’ attitude and changing behaviors, creating a gap in presenting the business outlook of the industry; in an effort to bridge this gap, Credence Research created this primary research-based report by gathering the opinions of multiple stakeholders in the value chain of the global industry.
What is the current market landscape and what is changing?
Executives from the global industry anticipate an increase in levels of consolidation, with 55% of respondents projecting an increase in merger and acquisition (M&A) activities in 2017.
The report on the market of Automotive Braking System contains:
Analysis and forecast of Automotive Braking System market dynamics;
Analysis of domestic production, market shares of the main market players;
Analysis of exports and imports;
Analysis of factors, leading the development of the Automotive Braking System market;
Assessment and forecast of Automotive Braking System market development;
Financial and business profiles of the leading companies in the Automotive Braking System industry.
– Up to date working Automotive Braking System data by major regions in the world, the forecast of planned capacity additions by 2026
– The annual breakdown of capital expenditure spending on proposed Automotive Braking System for the period 2018 to 2026
– Planned Automotive Braking System additions and capital expenditure spending by key countries and companies across the world
– Planned capital expenditure spending on new Automotive Braking System projects by region, key countries, and companies
– Details of major planned Automotive Braking System projects in the world up to 2026
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