The automotive brake system & components market growth is projected to be valued at US$ 69,403.5 million in 2023 and is expected to rise to US$ 109,862.1 million by 2033. The automotive brake system & components market sales are expected to capture a significant CAGR of 4.7% during the forecast period.
The automotive brake system and components market is a crucial segment of the automotive industry, responsible for providing essential safety features and ensuring reliable vehicle braking performance. This market encompasses a wide range of components and systems designed to facilitate the braking process, prevent accidents, and enhance driver control and confidence on the road.
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One of the key components of the automotive brake system is the brake rotor or disc, which is mounted on the wheel hub and rotates with the wheel. When the brakes are applied, brake pads, another critical component, are pressed against the rotor’s surface, creating friction that slows down or stops the vehicle. Brake pads are typically made from materials such as ceramic, semi-metallic, or organic compounds, chosen for their durability, heat resistance, and braking efficiency.
In addition to brake rotors and pads, the automotive brake system includes other essential components such as brake calipers, brake lines, and brake fluid. Brake calipers house the brake pads and apply pressure to them when the brakes are engaged, converting hydraulic pressure from the brake master cylinder into mechanical force. Brake lines, typically made of flexible rubber or metal, transport brake fluid from the master cylinder to the calipers, ensuring proper hydraulic operation of the brakes. Brake fluid, a hydraulic fluid with high-temperature stability and corrosion resistance, plays a crucial role in transmitting braking force and dissipating heat generated during braking.
Market players in the automotive brake system and components market include both OEMs (original equipment manufacturers) and aftermarket suppliers. OEMs supply brake components to vehicle manufacturers for installation in new vehicles, while aftermarket suppliers provide replacement parts, upgrades, and accessories for existing vehicles. Major players in this market include companies such as Robert Bosch GmbH, Continental AG, ZF Friedrichshafen AG, Aisin Seiki Co., Ltd., and Brembo S.p.A., among others, who compete to deliver high-quality, reliable brake components and systems to meet the diverse needs of vehicle manufacturers and consumers worldwide.
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Key Companies Profiled
Continental AG, ZF Friedrichshafen AG, Delphi Automotive PLC, Valeo S.A, Federal-Mogul Holdings Corporation, Nissin Kogyo Co. Ltd, Hitachi Astemo, Ltd., Akebono Brake Industry Co Ltd., Magneti Marelli S.p.A, Mando Corporation, Brembo S.p.A.
Recent Developments
In the third quarter of 2022, Continental AG obtained a substantial contract from a leading automobile manufacturer for the serial manufacturing of their semi-dry braking system (also known as Future braking System) valued at around EUR 1.5 billion (US$ 1.56 billion). The system’s manufacturing is slated to begin in 2025.
ADVICS CO. LTD announced a deal in October 2022 to provide Mercedes AMG with more efficient aluminum 6-piston calipers.
Brembo SpA announced in September 2022 that it might reorganize its aftermarket goods into four divisions: Brembo Essential (entry-level products), Brembo Prime (premium products), Brembo Beyond (alternative mobility items), and Brembo Xtra (performance product line).
Key Segments Covered in Automotive Brake System & Components Market Analysis
By Sales Channel:
- OEM
- Drum Brake
- Disc Brake
- Aftermarket
- Brake Booster
- Master Cylinder
- Drum Brake
- Drum
- Brake Shoe
- Wheel Cylinder
- Disc Brake
- Rotor
- Caliper
- Brake Pad
By Vehicle Type:
- Passenger Car
- LCV
- HCV
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia and Pacific
- Middle East & Africa
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