The global automotive brake components market is expected to grow at a CAGR of around 5.8% from 2020 to 2027 and expected to reach the market value of around US$ 124,968.8 Mn by 2027.

Brake components are used in the automotive brake system, which is designed to reduce the speed and stop the vehicle by transmitting force from the driver's foot to the automotive brakes. The brakes further transmit the force to the tires that produce friction with the road to slow and stop the vehicle. There are lots of small and major components involve including brake pedal, brake booster, brake master cylinder, brake lines and hoses, brake calipers and pistons, disc brake pads or brake shoes, anti-lock brake system (ABS) control module, wheel speed sensors, and disc brake rotors or brake drums among others.

Market Dynamics

The increasing implementation of enhanced vehicle safety systems due to stringent safety regulations almost across the globe is driving the market value. The increasing vehicle production and vehicle sales particularly in developing economies are additionally supporting the market value. Moreover, technological advancement and increasing adoption of regenerative braking & ABS are projected to create potential demand over the estimated period.

On the other side, the high cost involved in the incorporation of advanced braking technologies and the use of environmentally harmful materials in brake pads is projected to hamper the growth over the forecast timeframe.

Passenger car is accounting for the major share in the

By vehicle type, the passenger car segment is dominating the global market with around 60% share in terms of value. The segment is projected to experience steady growth over the estimated period from 2020 to 2027. The high demand for passenger vehicles in the global market is particularly supporting the market value.

The market research study on “Automotive Brake Components Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 – 2027”, offers a detailed insight into the global Automotive Brake Components market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report provides insights into the global automotive brake components market, its product type, vehicle type, and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global automotive brake components market size and volume, and segment markets by product type, vehicle type, and geography along with the information on companies operating in the market. The automotive brake components market analysis is provided for major regional markets including North America, Europe, Asia Pacific, Latin America and Middle East and Africa. For each region, the market size and volume for different segments have been covered under the scope of the report.

Asia Pacific is projected to exhibit fastest growth over the estimated timeframe

In 2019, Asia Pacific dominated the global market with major share the market is further projected to maintain its dominance over the forecast period from 2020 to 2027. The rapid industrialization coupled with the increasing focus of global manufacturers in the major regional economies is supporting the market value. The increasing disposable income is propelling individuals to spend on comfortable and luxury vehicles are further contributing to the market value. The region is also projected to experience major CAGR or fastest growth over the forecast timeframe from 2020 to 2027.

The players profiled in the report include ADVICS CO., LTD, Aisin Seiki Co. Ltd, Akebono Brake Corporation, Brembo S.p.A., Continental AG, Federal-Mogul Holdings LLC, Hitachi Automotive Systems, Ltd, Robert Bosch GmbH, Wabco Holdings Inc., and ZF Friedrichshafen AG. The global manufacturers are expanding their presence by strategic development including mergers and acquisition, partnerships, and new product development. They are also investing in research and development activities for the development of more advanced and safety solutions.

Market Segmentation

Market By Product Type

• Brake Caliper
• Brake Shoe
• Brake Line
• Others

Market By Vehicle Type

• Passenger Car
• Light Commercial Vehicle
• Medium & Heavy Commercial Vehicle

Market By Geography

North America

• U.S.
• Canada

Europe

• UK
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of Middle East & Africa

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