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Global Brake System Market Size, Share, Trends, Forecast: By Product Type: Disc Brake, Drum Brake, Hydrostatic Brake, Hydraulic Wet Brake, Regenerative and Dynamic Brake; By End Use: Automotive, Construction Equipment, Agriculture Equipment, Others; By Distribution Channel; Regional Analysis; Competitive Landscape; 2024-2032
Global Brake System Market Outlook
The global brake system market is expected to grow at a CAGR of 7.0% in the forecast period of 2024-2032 to reach a value of USD 85.83 billion by 2032.
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Rising Demand for Disk Brakes, Owing to its Superior Stopping Power to Bolster the Market Growth
Based on product type, the disk brake segment accounts for a significant share in the market. This can be attributed to the superior stopping power offered by the product, which can prevent any evitable mishap or accident. Over the forecast period, the growth of the segment is expected to be propelled by the growing popularity of wide tyres, owing to the expected growth in road trips and tourism, especially post-pandemic, as disk brakes are suitable for wide tyres. Meanwhile, the drum brake segment is likely to drive the growth of the overall market, owing to the higher friction contact area, along with the cheap manufacturing costs, of the product.
Growing Demand for the OEM Segment to Augment the Market Growth
On the basis of distribution channel, the original equipment manufacturer (OEM) segment is anticipated to grow at a healthy rate over the forecast period, owing to the high-quality assurance, along with the quick response and efficient monitoring, offered by the manufacturers. Other advantages of the product, including value and lifespan of the product, warranty, and return of investment are expected to support the growth of the market.
The Asia Pacific Accounts for a Significant Share in the Market
The thriving automobile sector in the Asia Pacific, especially in countries like India, China, Japan, and South Korea, is the major driving factor for the growth of the brake system industry in the region. The market is also expected to be augmented by the growing popularity of electric cars, coupled with the rising disposable incomes and rising population in the emerging economies. In India, the commercial car segment is anticipated to generate a healthy demand for brake systems, owing to the rising demand for cab services.
Brake System: Market Segmentation
Brake system is one of the crucial components, which is required to stop a motor vehicle. It includes a braking pedal, master cylinder, connecting hoses, lines, fluids, linkage, drums, shoes, and parking brake, among other components. It is an essential part of a vehicle in order to prevent accidents.
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Based on product type, the market is divided into:
- Disc Brake
- Drum Brake
- Hydrostatic Brake
- Hydraulic Wet Brake
- Regenerative and Dynamic Brake
On the basis of end use, the industry is segmented into:
- Automotive
- Construction Equipment
- Agriculture Equipment
- Industrial Truck
- Mining Equipment
The various distribution channels of the brake system include:
- Original Equipment Manufacturer (OEM)
- Aftermarket
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Growing Downstream Demand for Brake Systems to Boost the Growth of the Market
The global market for brake system is being driven by the growing downstream demand for brake systems in various industries, such as automotive, construction equipment, agriculture equipment, industrial truck, and mining equipment, among others. The demand for brake systems from the automotive industry has been significant and is likely to be further catalysed due to the rising sales of passenger and commercial vehicles. The market is expected to be aided by the growing awareness of road safety due to the rising cases of accidents, rash driving, and heavy traffic conditions. The growing mechanisation across downstream industries is projected to propel the demand for brake systems in the coming years.
Key Industry Players in the Global Brake System Market
The report gives a detailed analysis of the following key players in the global brake system market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Aisin Seiki Co., Ltd.
- Brembo S.P.A.
- Continental AG
- BorgWarner Inc.
- Hitachi Astemo, Ltd.
- Knorr-Bremse AG
- Nissin Kogyo Co, Ltd.
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product Type |
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| Breakup by End Use |
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| Breakup by Distribution Channel |
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| Breakup by Region |
|
| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Brake System Market Analysis
8.1 Key Industry Highlights
8.2 Global Brake System Historical Market (2018-2023)
8.3 Global Brake System Market Forecast (2024-2032)
8.4 Global Brake System Market by Product Type
8.4.1 Disc Brake
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Drum Brake
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Hydrostatic Brake
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Hydraulic Wet Brake
8.4.4.1 Historical Trend (2018-2023)
8.4.4.2 Forecast Trend (2024-2032)
8.4.5 Regenerative and Dynamic Brake
8.4.5.1 Historical Trend (2018-2023)
8.4.5.2 Forecast Trend (2024-2032)
8.5 Global Brake System Market by End Use
8.5.1 Automotive
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Construction Equipment
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Agriculture Equipment
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Industrial Truck
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Mining Equipment
8.5.5.1 Historical Trend (2018-2023)
8.5.5.2 Forecast Trend (2024-2032)
8.6 Global Brake System Market by Distribution Channel
8.6.1 Original Equipment Manufacturer (OEM)
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Aftermarket
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.7 Global Brake System Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Brake System Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Brake System Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Brake System Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Brake System Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Brake System Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Aisin Seiki Co., Ltd.
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Brembo S.P.A.
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Continental AG
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 BorgWarner Inc.
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Hitachi Astemo, Ltd.
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Knorr-Bremse AG
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Nissin Kogyo Co, Ltd.
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Brake System Market: Key Industry Highlights, 2018 and 2032
2. Global Brake System Historical Market: Breakup by Product Type (USD Billion), 2018-2023
3. Global Brake System Market Forecast: Breakup by Product Type (USD Billion), 2024-2032
4. Global Brake System Historical Market: Breakup by End Use (USD Billion), 2018-2023
5. Global Brake System Market Forecast: Breakup by End Use (USD Billion), 2024-2032
6. Global Brake System Historical Market: Breakup by Distribution Channel (USD Billion), 2018-2023
7. Global Brake System Market Forecast: Breakup by Distribution Channel (USD Billion), 2024-2032
8. Global Brake System Historical Market: Breakup by Region (USD Billion), 2018-2023
9. Global Brake System Market Forecast: Breakup by Region (USD Billion), 2024-2032
10. North America Brake System Historical Market: Breakup by Country (USD Billion), 2018-2023
11. North America Brake System Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Europe Brake System Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Europe Brake System Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Asia Pacific Brake System Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Asia Pacific Brake System Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Latin America Brake System Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Latin America Brake System Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Middle East and Africa Brake System Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Middle East and Africa Brake System Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Global Brake System Market Structure
Key Questions Answered in the Report
The global brake system market is estimated to grow at a CAGR of 7% during 2024-2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 85.83 billion by 2032.
The major drivers of the market include the growing end-use of brake systems in various industries including automotive, construction equipment, agriculture equipment, and industrial trucks, rising awareness about road safety, and increasing demand for passenger and commercial cars.
The key trends guiding the growth of the market include the technological advancements in the automotive industry in order to enhance the safety for the consumers and the growing mechanisations in downstream industries.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
Disc brake, drum brake, hydrostatic brake, hydraulic wet brake, and regenerative and dynamic brake are the various product types in the market.
Automotive, construction equipment, agriculture equipment, industrial truck, and mining equipment are the leading end uses of braking system in the market.
Original equipment manufacturer (OEM) and aftermarket are the significant distribution channels of braking system in the market.
The key players in the global brake system market are Aisin Seiki Co., Ltd., Brembo S.P.A., Continental AG, BorgWarner Inc., Hitachi Astemo, Ltd., Knorr-Bremse AG, and Nissin Kogyo Co, Ltd., among others.
Analyst Review
The global brake system market was driven by the growing end-use of the brake system in various industries, including automotive, construction equipment, agriculture equipment, and industrial trucks, among others. Aided by the technological advancements in the automotive industry, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 7%. The market is projected to reach USD 85.83 billion by 2032.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on product type, the market is divided into disc brake, drum brake, hydrostatic brake, hydraulic wet brake, and regenerative and dynamic brake. On the basis of end use, the market is divided into automotive, construction equipment, agriculture equipment, industrial truck, and mining equipment. The major distribution channels of the product include original equipment manufacturer (OEM) and aftermarket. The major regional markets for brake system are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Aisin Seiki Co., Ltd., Brembo S.P.A., Continental AG, BorgWarner Inc., Hitachi Astemo, Ltd., Knorr-Bremse AG, and Nissin Kogyo Co, Ltd., among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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