Market Overview
An automotive braking system is an important aspect of vehicle safety technology. It is a sophisticated system that is designed to either prevent or slow the speed of a moving vehicle in the event of a collision with another vehicle, a person, or an object of some sort.
These systems use sensors like radar, video, infrared, and ultrasonic to scan for potential obstacles in front of the car and then use brake control to avoid a collision if the object is found. Automotive brakes are one of many automobile safety features, and they're frequently combined with other tech like pre-collision systems and adaptive cruise control. The brake system components include the brake pedal, master cylinder, brake callipers, brake shoes, brake disc, brake rotor, brake drum, brake lining, and hoses.
The global automotive brake market is expected to grow at a CAGR of 4.77% during the forecast period (2021–2027). By 2030 with an expected valuation of USD 1048 million Middle East Asia and Africa are some of the least developed markets for Automotive Brakes and its CAGR for the period of 2022 to 2030 is 3.97%.
Market Dynamics
Middle East And Africa Automotive Brake Market Drivers
The Gulf countries are economically developed, whereas African countries are still catching up to their Gulf counterparts. Integration of new technology is developing in a variety of industries, including automotive in the Middle East, in an era of continual technical improvements. South Africa is a key shareholder in the vehicle disc brake sector in the Middle East and Africa. Vehicle demand has increased in recent years across the country. South Africa produced 631,983 passenger and commercial vehicles in 2019, according to the Bureau of Transportation Statistics. A shared mobility paradigm based on electric vehicles is being implemented in public transit in various Middle Eastern nations. For example, by 2025, the UAE government plans to have 42,000 hybrid automobiles on the road, including passenger and commercial vehicles. Because automotive disc brakes are utilised in vehicles to provide more stopping power and precision braking, the market for automotive disc brakes will grow in tandem with the number of automobiles manufactured.
The expansion of the Middle East and African automotive disc brake market is being fueled by the emergence of self-driving/autonomous vehicles and the increasing usage of electric vehicles.
Middle East And Africa Automotive Brake Market Restraints
The automotive industry is critical to the economy's growth. However, during the second and third quarters of 2020, the COVID-19 outbreak impacted the whole automotive supply chain, affecting new car sales in FY 2020.
In the case of COVID-19, the Middle East and Africa were particularly hard hit, especially South Africa, which had the largest number of COVID-19 cases in the region, followed by Saudi Arabia and the United Arab Emirates. There are fewer companies operating or providing market-specific solutions in the Middle East and Africa region. Despite stimulus packages and monetary rate cuts to ease the economic impact of the coronavirus outbreak, the Middle East economy slowed sharply in the first half of 2020, according to the Institute of Chartered Accountants in England and Wales (ICAEW). The number of used online car postings in the UAE fell by nearly half in April 2020. With factories unable to begin operations and low requirements, the automobile industry waits for the situation to return to normalcy and other industries to continue their work processes. Supply chain problems were noticed as a result of the lockdowns in various MEA nations. As a result, the aforementioned reasons will have a negative impact on the region's vehicle disc brake market in 2020. However, with the relaxation of lockdown limitations in 2021, car manufacturing has resumed, and raw materials are now available in the market, aiding in the creation of a favourable situation for the automotive disc brake market growth in the region.
The Automotive Brake System control module of a vehicle is meant to alert the driver with a warning light if the system fails. The module itself is rarely defective; instead, the sensors or the wiring to the sensors are frequently defective. The most typical cause of dysfunction is when the Automotive Brake System is contaminated with particles or metal shavings. There is no signal continuity when sensor wiring is destroyed. Brake fluid becomes contaminated in corrosive situations, and the hydraulic unit fails to function. Moreover, the growth of the Middle Eastern and African automobile disc brake market is hampered by issues with iron cast material.
Middle East And Africa Automotive Brake Market Opportunities
The Middle East and Africa's automotive disc brake market is predicted to have a quick increase in commercialization and industrialization, boosting the expansion of numerous industries.
Additionally, the sales of SUVs and premium vehicles are increasing, and the seat adjustment actuator section of the market is likely to grow even more. To improve the passenger experience, automakers have started using electronic systems to regulate practically every component of the vehicle.
The growing demand for fuel-efficient automobiles, as well as the growing demand for innovative products among buyers, is driving major manufacturers to spend in R&D. The number of electric vehicles in the region has increased, which will benefit the Automotive Brake Systems Market.
Top Key Players
Brembo S.p.A.
EBC Brakes
Haldex Group
Hitachi Astemo Americas, Inc.
Hyundai Mobis
Knorr-Bremse AG
Mando Corporation
Others
