Markntel Advisors, a leading consulting, data analytics, and market research firm, recently published an analytical report description that describes the recent achievements and developments of prominent players including new launching of innovative products, strategic collaborations, or partnerships, that bolster the growth of the Global Automotive Brake System market. The research report on the Global Automotive Brake System Market presents well-researched facts and figures pertinent to the industry, whether the goal is to explore new markets, launch a new product, or maintain a competitive advantage. The expert team of analysts dedicated significant effort to gathering and evaluating the latest market data, resulting in a detailed and up-to-date report that offers valuable insights for individuals who rely on data-driven decisions, including business owners and analysts.
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The report further comprises, “Global Automotive Brake System Market Research Report: Forecast (2024-2030)”,
The Market size was valued at USD 23.25 billion in 2023 and is estimated to grow at a CAGR of around 6.1% during the forecast period, i.e., 2024-30.
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Global Automotive Brake System Market Driver:
Increasing Adoption of ABS by Automotive Manufacturers to Amplify Market Growth – Road Accidents are common in several regions and these accidents are one of the leading causes of deaths across the globe. Based on a survey by the World Health Organization (WHO), every year more than 1 million individuals die due to road accidents. These accidents are majorly caused by overspeeding & vehicle component failure. Therefore, it has become of utmost importance for individuals to look for vehicles that ensure safety. As a result, several automotive manufacturers are increasingly adopting automotive brake systems since these barking systems provide better performance than conventional brakes. In addition, these accidents impact the individuals economically & emotionally. Therefore, the governing authorities are encouraging automotive manufacturers to adopt technologically advanced systems that ensure the safety of individuals. Therefore, the automakers are increasingly incorporating these advanced brakes within their vehicles, enhancing the Global Automotive Brake System market.
In addition, the awareness among consumers regarding their own safety is also generating the demand for vehicles equipped with these advanced systems. Therefore, to cater to this growing demand, automakers would continue to install these brakes into their newly launched & existing vehicle modes, uplifting the Global Automotive Brake System market in foreseen years as well.
Global Automotive Brake System Market Analysis Based On Segment, Geography
The Global Automotive Brake System market is segmented into significant segments based on:
By Brake Type
-Disc Brakes- Market Size & Forecast 2019-2030, (USD Million)
-Drum Brakes- Market Size & Forecast 2019-2030, (USD Million)
-Hydrostatic Brakes- Market Size & Forecast 2019-2030, (USD Million)
-Hydraulic Wet Brakes- Market Size & Forecast 2019-2030, (USD Million)
-Dynamic Brakes- Market Size & Forecast 2019-2030, (USD Million)
-Others- Market Size & Forecast 2019-2030, (USD Million)
By Technology
-Anti-lock Braking System (ABS)- Market Size & Forecast 2019-2030, (USD Million)
-Electronic Stability Control (ESC)- Market Size & Forecast 2019-2030, (USD Million)
-Traction Control System (TCS)- Market Size & Forecast 2019-2030, (USD Million)
-Electronic Brakeforce Distribution (EBD)- Market Size & Forecast 2019-2030, (USD Million)
-Automatic Emergency Braking (AEB)- Market Size & Forecast 2019-2030, (USD Million)
By Vehicle Type
-Passenger Cars- Market Size & Forecast 2019-2030, (USD Million)
-Light Commercial Vehicles- Market Size & Forecast 2019-2030, (USD Million)
-Trucks- Market Size & Forecast 2019-2030, (USD Million)
-Buses- Market Size & Forecast 2019-2030, (USD Million)
By Actuation Type
-Hydraulic- Market Size & Forecast 2019-2030, (USD Million)
-Pneumatic- Market Size & Forecast 2019-2030, (USD Million)
By Component
-Master Cylinders- Market Size & Forecast 2019-2030, (USD Million)
-Brake Pads- Market Size & Forecast 2019-2030, (USD Million)
-Brake Shoes- Market Size & Forecast 2019-2030, (USD Million)
-Brake Calipers- Market Size & Forecast 2019-2030, (USD Million)
-Brake Disc Rotors- Market Size & Forecast 2019-2030, (USD Million)
By Electric Vehicle Type
-Battery EVs- Market Size & Forecast 2019-2030, (USD Million)
-Plug-in Hybrid EVs- Market Size & Forecast 2019-2030, (USD Million)
By Application
-Agricultural Tractors- Market Size & Forecast 2019-2030, (USD Million)
-Construction Equipment- Market Size & Forecast 2019-2030, (USD Million)
-Mining Equipment- Market Size & Forecast 2019-2030, (USD Million)
By Region
-North America
-South America
-Europe
-The Middle East & Africa
-Asia-Pacific.
Read Detailed Index of full Research Study at – https://www.marknteladvisors.com/research-library/automotive-brake-system-market.html
Top Companies Essentially Working in Global Automotive Brake System Market
Brembo S.p.A., Continental AG, ZF Industrial Technology Division, Robert Bosch Gmbh, Akebono Brake Industry Co., Ltd., Aisin Seiki Co., Ltd., Hitachi Astemo Ltd., Knorr-Bremse Ag, Haldex Ab, Denso Corporation, Mando Corporation, Hyundai Mobis Co., Ltd., Wuhan Youfin Auto Parts Co., Ltd., Bethel Automotive Safety System Co., Ltd. (WBTL), Beringer, Others.
Frequently Asked Questions (FAQs)-
- What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
- What are the trends influencing the current scenario of the market?
- What leading factors would propel and impede the industry across the geography?
- How has the industry been evolving in terms of geography & Global Automotive Brake System adoption?
- How has the competition been shaping up across the geography?
6. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?
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