Automotive industry growth is depending mainly on development of vehicles which are faster and safer. Brakes are crucial component of any vehicle to ensure safety which is essential to control the speed. Being commonly used in different automobiles, automotive brake systems comprise of a brake device having various components such as brake shoes, brake pads, brake drum, piston, caliper, rotor, brake booster, and master cylinder which are used for controlling speed of a vehicle.
The global automotive brake systems market report has been segmented on the basis of technology, vehicle type, and region.
Global automotive brake systems market has been segmented into anti-lock braking system (ABS), traction control system (TCS), electronic stability control (ESC), and electronic brake-force distribution (EBD), on the basis of technology. The traction control system segment in the automotive brake systems market is anticipated to register highest CAGR in next ten years. This is owing to a known fact that traction control system is an electronic braking system which complements anti-lock braking system.
The global automotive brake systems market has been segmented into passenger cars, light commercial vehicles, and heavy commercial vehicles, on the basis of vehicle type. The passenger cars are anticipated to grow at highest CAGR during the forecast period and is anticipated to contribute major market share in terms of revenue in next five years.
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On the basis of region, the global automotive brake systems market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific market is considered to be a major market owing to easy availability of low-cost labors and raw materials in countries in this region. In addition, countries such as India and China accounted for around 34% of the total vehicles production in 2016, in this region, which is contributing to propel growth of the global automotive brake systems market.
Key players operational in the global market include Robert Bosch GmbH, ZF Friedrichshafen AG, AISIN SEIKI Co., Ltd., Continental AG, Hitachi Automotive Systems, Ltd., Nissin Kogyo Co., Ltd., Autoliv Inc., Akebono Brake Industry Co Ltd, Federal-Mogul LLC, and Brembo S.p.A.