The automotive brake valve market is forecast to experience an explosive growth of 5.9% CAGR over the estimated period, as per FMI’s analysis. The industry’s size is predicted to reach a market value of US$ 12,738.7 million in 2023.
Demand for highly efficient and effective braking systems and the efforts to lower emissions are driving the growth of the automotive brake valve industry. With the help of automotive brake valves, braking force can be applied and controlled more precisely, thus reducing the energy wastage that can otherwise be misplaced during braking.
Automotive brake valves are becoming smaller and lighter; thus, their adoption promotes fuel efficiency in automobiles. Surging demand for fast racing cars and stringent regulations require the installation of anti-lock braking systems (ABS) in commercial vehicles and passenger cars, which is augmenting the market growth.
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Increasing demand for electrohydraulic brake valves and integrated electronic braking systems is also projected to foster market growth. Apart from this, the growth of emerging markets, quick adoption of new technologies, change in consumer ownership preferences, and supportive environment policies are some other factors that are projected to fuel market growth.
Trends like online delivery of consumer products, on-demand mobility solutions, solo traveling, and family outings or vacations are changing the face of transportation. Additionally, increasing demand for cars has drastically increased over the last two decades, thus intensifying the competition among automakers.
Businesses are integrating breakthrough technologies to attract more customers to enhance their market position. The progressive braking systems that enhance passenger security and safety are projected to propel market growth over the forecast period.
Top Highlights from the FMI’s Analysis of the Automotive Brake Valve Market:
- The United States automotive brake valve industry is projected to attain a 15.3% market share in 2023.
- The German automotive brake valve industry is anticipated to account for a 7.9% value share in 2023.
- The Japan automotive brake valve industry is expected to represent a 3.2% market share in the current year.
- The Australian automotive brake valve industry is estimated to record a 1.5% value share in the present year.
- The China automotive brake valve industry is expected to account for 6.1% CAGR over the forecast period.
- The India automotive brake valve industry is projected to register a CAGR of 5.8% during the review period.
- The United Kingdom automotive brake valve industry is projected to propel at a CAGR of 5.6% in the upcoming years.
- Under the product type category, the check valves segment is projected to attain a value share of 21.3% over the forthcoming years.
- Based on vehicle type, the mid-sized segment is assessed to gain a market share of 23.4% over the forecast period.
“With increased safety regulations for drivers and passengers, key companies are deploying their advanced and safest technology to ensure the automotive brake system. Some of the key players are capitalizing on surging sales of SUVs and LCVs in emerging nations to increase their revenue”: says a Future Market Insights analyst.
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Latest News Depicting Current Market Scenario
- Nisshinbo Holdings of Continental and Japan set up a new joint venture in March 2022 to localize valve block machinery for Electronic Brake Systems (EBS) of Continental in India. Within the EBS portfolio, Electronic Stability Control (ESC) and Anti-lock Brake Systems (ABS) are included for passenger cars and two-wheelers.
- In October 2019, Hitachi Ltd. and Honda Motor Co. agreed to unite four of their automotive parts businesses to conjure up a component supplier with nearly US$ 17 billion in yearly sales.
Key Companies Profiled
- Wabtec Corporation
- Master Power Brake Valves
- PARKER HANNIFIN CORP
- Poclain
- Continental AG
- Hitachi Ltd
- Denso Corporation
- Delphi Automotive
- Sundoz Co. Ltd
- Alfmeier Precision SE
- MAHLE Gmbh
- Brake Valve Systems Inc
- Qingdao MABCC International Trade Co., Ltd
- Haldex
- Mico Inc. (a Wabco Company)
- Knorr-Bremse AG
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Key Segments Covered in Automotive Brake Valve Industry Analysis
Product Type:
- Combination Valves
- Quick Release Valves
- Metering Valves
- ABS Modular Valves
- Foot & Hand Valves
- Parking Brake Valves
- Emergency Valves
- Check Valves
- Spring valves
- Proportional valves
Vehicle Type:
- Compact Cars
- Mid-Sized
- Luxury Cars
- SUVs
- HCVs
- LCVs
Material Type:
- Steel
- Copper
- Brass
- Alloys
Sales Channel:
- OEM
- Aftermarket
Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa (MEA)
Author
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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