Automotive Brake Market Size, Share & Trends Analysis Report By Type (Disk Brakes, Drum Brakes, Hydraulic Wet Brake, Rheostatic Brakes, Regenerative Brakes), By Technology (Antilock Braking System, Traction Control System, Electronic Stability Control, Electronic-Brake Force Distribution, Break-By-Wire), By End-User (Automotive, Construction Vehicle), By Sales Channel (OEM, Aftermarket) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2022-2030

Market Overview

The global automotive brake market was valued at USD 20.95 billion in 2021. It is expected to reach around USD 34.50 billion, growing at a CAGR of 5.7% during the forecast period (2022–2030)

The vehicle's braking system stops or slows down, allowing the driver to avoid accidents and save lives. The brake pedal, master cylinder, brake calipers, brake shoes, brake disc, brake rotor, drum, brake lining, and hoses are all parts. Automotive, construction, agricultural, mining, and industrial vehicles are all reliant on the expansion of the brake systems industry.

Market Dynamics

Global Automotive Brake Market Drivers

Increasing Safety Regulations around the World to Boost Market Progress

The New Car Assessment Program (NCAP) provides customers with vital information regarding the safety characteristics of new vehicles. It is adhered to by developed and developing regions' regulatory authorities, which has helped the United States reduce its traffic fatalities by 20%.

In light of this, automakers are incorporating safety features into vehicles and investing significantly in R&D. Increasing demand for autonomous cars necessitates safety measures. The expansion of the global market for automobile brakes is fueled by substantial technological breakthroughs relating to increasing safety regulations. Increasing concern about road traffic collisions and the rising fatalities has prompted key parties to implement robust safety systems. Governments and regulatory organizations' stringent safety standards will continue to drive the growth of the automotive brake system market. NHTSA (National Highway Traffic Safety Administration), a division of the U.S. DOT (Department of Transportation), has proposed mandating the use of Automatic Emergency Braking Systems (AEB) beginning in 2022.

Techniques to Increase Stopping Distance for Passenger And Commercial Vehicles 
to Drive Market

The National Highway Traffic Safety Administration (NHTSA) amended Federal Motor Vehicle Safety Standard (FMVSS) 121 air brake systems to enhance the stopping distance performance of truck tractors. The guideline stipulates that most new heavy truck tractors must achieve a 30% reduction in stopping distance than the present minimum. The updated standard requires these large truck tractors (about 99% of the fleet) to stop in no more than 250 feet when loaded to their gross vehicle weight rating (GVWR) and tested at 60 miles per hour (mph). The minimum stopping distance for a few exceptionally heavy harsh service tractors will be 310 feet under the same circumstances. Also, this final rule requires that all heavy truck tractors loaded to their "lightly laden vehicle weight" must stop within 235 feet (LLVW). Modern disc brakes are pretty effective in terms of stopping power. Additionally, the front wheels provide approximately 60-90 % of the vehicle's stopping power. With the implementation of rules mandating shorter stopping distances for increased safety, disc brakes are anticipated to increase dramatically.

Global Automotive Brake Market Restraint

Increasing Adoption of Modern Vehicles to Restrict Market Growth

High-performance electric brakes have scalability, adaptability, serviceability, simplification, standardization, and manageability. Diverse braking technologies are attempting to manufacture high-quality items while reducing the overall running cost of an electric brake.

Current braking systems are more complex than those of the past. Problems are unavoidable when modern vehicle technology transitions to the production of electric vehicles, as there is a considerable increase in demand for electric cars in the passenger, commercial, and agricultural industries. Extreme fluctuations in temperature and humidity can cause damage to the braking mechanism, diminish performance, and shorten the service life of the brake pads and brake shoes on these vehicles. The high installation and maintenance cost is added to the total price of automotive brakes, which is expected to restrain the market growth of automotive brakes.

Global Automotive Brake Market Opportunities

Introduction of New Technologies to Spur Market Opportunities

Brake-by-wire is a technique in which electronic sensors and controllers replace conventional brake systems' mechanical and hydraulic components, i.e., the brake pedal. Wire brake systems offer numerous benefits, including reduced weight and space requirements, decreased operating noise and vibrations, and quicker response times, which would result in shorter stopping distances.

This technology is confined to commercial use as it is still in its infancy. The Mercedes-Benz E-Class, SL, and Toyota Estima include wire-based braking systems that rely on Sensotronic and Electronically Controlled Brake (ECB) technologies. Also, Nissan and BMW intend to enter the market shortly.

Regional Analysis

The global automobile brake market is segmented into five regions, namely North America, Europe, Asia-Pacific, and the Middle East and Africa.

The region with the largest market share, Asia-Pacific, is predicted to rule the industry with a 43 percent share, followed by Europe with 25.7%. The technology influencing the Asia-Pacific market is antilock braking systems. Drum brakes are the most used form of the braking system. The largest end-users are automakers and manufacturers of construction vehicles. The aftermarket has a beneficial impact since the manufacturers of aftermarket parts produce moderately reliable and less expensive car components.

Germany controls 35% of the vehicle braking market in Europe. Europe's Germany is home to industry titans such as Robert Bosch, Continental AG, and ZF Friedrichshafen.

Segmental Analysis

The global fingerprint sensor market is segmented by type, technology, distribution channel, and end-user.

By Technology

Based on technology, the global automobile brakes market is divided into Antilock Braking Systems, Traction Control Systems, Electronic Stability Control, Electronic Brake-Force Distribution, And Brake-By-Wire.

ABS is anticipated to dominate the market because it prevents car wheels from completely locking up when the brakes are applied. The three technologies used by brake-by-wire systems are integrated electronic, hydraulic, electro-mechanical, and electronic hydraulic brakes. Brake-by-wire technology has a limited commercial application considering research on it is still in its early phases.

By Type

Based on type, the global automobile brakes market is segmented into Disc brakes, Drum brakes, Hydraulic Wet brakes, Rheostatic brakes, and Regenerative brakes. The global automobile brakes market is segmented into

Drum brakes are the most common, accounting for 33.8% of the market share for automobile brakes worldwide. According to our research, disc brakes account for 29.8% of the market share and are predominantly used on passenger vehicles due to their stability at higher speeds. The mixed impacts of COVID-19 have led to a drop in the market for commercial vehicles and a rise in passenger automobiles. Thus, the demand for automotive brakes is anticipated to expand.

By Distribution Channels

Based on distribution channels, the global automobile brakes market is classified into OEM and Aftermarket sales channels.

It is anticipated that the original equipment manufacturer (OEM) will have the highest CAGR during the forecast period. Original equipment manufacturers, or actual equipment manufacturers, are the first car components producers. Some consumers prefer original equipment manufacturer parts to replace damaged car components, as these parts are guaranteed to be compatible and high-quality. Using 2022 as a baseline, the original equipment manufacturer holds just approximately 35% of the market.

Compared to original equipment manufacturer (OEM) elements, aftermarket components are manufactured by third parties and do not necessarily possess the same quality or compatibility. The aftermarket manufactures replacement, collision, aesthetic, and functional parts. Customers pick these aftermarket parts because they are sold at a reduced price, even if they are only somewhat reliable in terms of quality and compatibility. This ensures that the aftermarket covers 64% of the worldwide vehicle braking industry.

By End-User

Based on end-user, the global automotive brake market is segmented into Automotive, construction, farm, industrial, and mining vehicles.

Construction vehicle dominated the segment and is expected to grow at a CAGR of 5.7% during the forecast period. Passenger automobiles, light commercial vehicles, and large commercial vehicles within the automotive sector. The construction vehicles market includes bulldozers, excavators, and mobile cranes.

Impact of covid-19

The coronavirus (COVID-19) pandemic and lockdowns in several locations worldwide impacted enterprises of all types. The private healthcare sector is one of the areas where the COVID-19 pandemic had a big hit.

The healthcare sector has been put under financial strain due to the lockdown regulations in several countries. Furthermore, the pandemic impacted the development, production, supply of medications and other healthcare items, and expansion of numerous healthcare enterprises globally.

COVID-19 patients with COVID-19 face several issues related to kidneys, gastrointestinal tract, and others. In COVID-19 patients, fluid and electrolyte abnormalities are consequences of renal and GI damage. Since fluid and electrolyte disturbances can cause a variety of problems, including death, clinicians should keep a close eye on fluid and electrolyte balance in COVID-19 patients, particularly those in intensive care, where the risk of fluid and electrolyte disturbance is higher, and the mortality rate is higher. Specific attention should be given to the most prevalent fluid and electrolyte problems in SARS-CoV-2 infection. 

Hyponatremia, hypernatremia, hypokalemia, hypocalcemia, hypochloremia, and changes in fluid body volume; if these abnormalities are discovered, definite and rapid treatment should be initiated, such as numerous electrolyte injections. As COVID-19 shows fluid and electrolyte abnormalities, body fluid volume and electrolyte concentrations can be used to assess illness status and progression. These factors are anticipated to positively impact the multiple electrolytes injection market during the assessment period. 

Recent Developments

• March 2022- ZF consolidates in India: WABCO India renamed ZF Commercial Vehicle Control Systems India.
• May 2022- Analysis of the use of Brembo brakes in Catalonia, including the antidrag system, also available for street-legal cars.
• May 2022- Guide the Brembo brake discs for MotoGP and road use and info on how they are used in the French GP.
• April 2022- Brembo MotoE system specs and the best brake discs for the track.
• April 2022- A full range of brake pads and an extensive range of brake discs are Brembo’s latest replacement solutions dedicated to commercial vehicles.