Breaking News

Automotive sector has witnessed rampant advancements in the yesteryears in terms of fuel and combustion engineering, which has lead towards robust and high-power engines being installed in vehicles. As a consequence modern automotive are equipped with advanced apparatus offering astonishing speed execution, eventually creating a mandate for the application of innovative and effective brake systems for safety. Due to with technological innovations in modern automotive, global brake systems market is leveraging enforced regulations by elite organizations. For example, the instruction by National Highway Traffic Safety Administration (NHTSA), an organization under the U.S. Department of Transportation (DOT), to make automatic emergency braking (AEB) a standard feature on all new automotive units produced by 2022. At present 20 automakers in the United States that represents 99% of the U.S automotive market, have pledged voluntarily to incorporate a low-speed AEB system including forward collision warning (FCW) in all their production by 1st September, 2022. Remarkably, 10 automakers have already confirmed employment of AEB in more than half of their production between September 1, 2017, and August 31, 2018. Toyota secured the apex spot with 90% (2.2 million of its 2.5 million produced units), followed by Nissan with 78% (1.1 million out of its 1.4 million) and Honda held the 3rd rank with 61% (0.9 million out of its 1.6 million) in terms of existing production fleet integrated with AEB. Additionally, automotive OEMs to fetch necessary evaluations for permissible marketing, by programs such as Compliance, Safety, Accountability (CSA), under the United States Federal Motor Carrier Safety Administration (FMCSA), are employing self- adjusted disc brakes over non-adjusted drum brakes as they score scored less during examination. Hence, the impact of regulatory bodies on technological developments and trade advancements in the global brake system market is profound. Another relevant instance is the NHTSA issued Federal Motor Vehicle Safety Standards (FMVSS) for air brake systems in heavy truck tractors that enforces a 30% reduction in stopping distance. As these heavy truck tractors constitute nearly 90% of the fleet, this provision by the elite U.S federal agency will substantially impact the brake systems market share for heavy commercial vehicles. Hence, with similar developments globally, the global brake system market size is evaluated to be $ 24.55 billion as of 2018. As the automotive sector is expanding in volume with increasing sales of electric vehicles (EVs), and also developing in terms of innovations such as autonomous driving and advance driving-assistance systems (ADAS), brake system market demand is progressing with a CAGR of 6.31% during the forecast period 2019-2025. The report covers brake system market size by type and applications, brake system market share by top 5 companies and also the market share by start-ups during the forecast period.

View Full Table of Contents of brake system market:

https://www.industryarc.com/Research/Brake-System-Market-Research-501082

Report Price (Single User): US $3850

Electronically controlled brake (ECB) Gaining Intense Scope of Application with Increasing Sales of Electric Vehicles:

As the application of electric technology in modern vehicles is an inevitable trend, the market for brake by wire technology is getting profound traction. Since, electronically controlled braking system eradicates the necessity of hoses, pumps, belts, fluids, cylinders, and vacuum servos by replacing it with electrical actuators and electronic sensors, electric and hybrid vehicles are predominantly hiring this innovative braking system. Considering the sales of electric cars, as indicated by the International Energy Agency, that reached 5.1 million units in 2018 and is forecast to touch the mark of 125 million units by 2030, electronically controlled braking system with ample scope of application will command the global brake system market prospects. As Toyota is the developer of brake by wire technology, its hybrid models Toyota Prius Hybrid and Toyota Estima Hybrid are equipped with ECB. In the premium segment Lexus RX 400h, Mercedes Benz E and Mercedes Benz SL are avid employers of brake by wire technology.

APAC Dominates Global Brake System Market Size with Penetrating Array of Automotive OEMs and Rampantly Bourgeoning EVs Sales

After an acute analysis of the brake systems regional markets, APAC is reckoned to be the most lucrative marketplace with a share of 38.67% in global market as of 2018. Penetrating automotive OEMs centers in India, China and Japan amalgamated with the supremacy of China in the realm of electric vehicles stretching from cars and scooters to buses and heavy commercial vehicles is creating opportunities for brake systems in APAC. With 5 out of top 10 global car manufacturers situated in APAC, automotive sector of countries such as India, Indonesia and Malaysia are growing at an impeccable rate with 7.98%, 10.31%, and 12.18% respectively as of 2018 (OICA). Similarly, China sustained it apex spot in global electric car market with sales in 2018 recorded to be approximately 1.1 million, and with 2.3 million units, it held the largest stock of electric cars. Apart from cars, brake systems are also an integral part of two-wheelers, hence the dominance of APAC in global two-wheelers market firmly supports the sustainability of its lead in global brake systems market share. Electric two/three-wheelers on the road surpassed 300 million by the end of 2018 and with trades in the tens of millions per year, the Chinese market for electric two-wheelers is 100 times bigger compared to anywhere else in the world.

Agricultural and Construction Sector Implementing Automotive for Efficient Operations:

As per the Food and Agriculture Organization of the United Nations, global population will mark an astonishing 9.1 billion figure by 2050. Consequently, both the agricultural and construction sector are adopting advanced mechanism to make the maneuvers utmost efficient. As a consequence, operations in these segments necessitate efficiency that is delivered by machineries including automotive. Operations in both these sectors witness severe terrain and settings, it gives efficient braking systems a mandatory front that has to be installed by automotive OEMs delivering to construction and agriculture. With further analysis of brake systems market application verticals, both agriculture and construction sector is stated to be fastest growing segment progressing with a combined CAGR of 7.89% going through 2025. Some of the most prominent examples of heavy duty automotive with brake systems employed by these sectors are tractors, loaders, bull dozers, dragline excavators, and pavers.

Recent Dynamic Developments Adding Brake System Market Growth Prospectus

According to CNH Industrial, a firm that concentrates on farm equipment publicized a concept of autonomous tractor in 2016. Implementing ‘big data’ technologies such as real-time information on weather, autonomous tractors devoid of any human intervention can operate independently. As this autonomous version of tractors will require advance brake systems equipped with sensors to detect and monitor surroundings and operate safely, it is creating demand for AEB systems.

Brake Systems Market Companies:

Some of the key players operating in the global brake systems market are Robert Bosch GmbH, Continental AG, ZF Friedrichshafen AG, Wabco Holdings, Inc., Knorr-Bremse AG, and Aisin Seiki Co, Ltd., Akebono Brake Industry Co Ltd, Autoliv Inc.,Brembo S.P.A, Delphi Automotive PLC, Federal-Mogul Holdings Corp,Haldex AB,Hitachi Automotive Systems, Ltd. ,Knorr Bremse AG,Mando Corp., and Nissin Kogyo Co., Ltd.

Innovation is paramount to survive in this marketplace. Consequently, companies are investing on RandD activities to carve a niche for themselves and as the technology is fairly feasible to replicate there is strong threat from local players, that has driven OEMs to opt for patents. For instance, in 2017, Japanese Honda Motor Company bagged a patent for its invention interrelated to its combined brake system (CBS) for a motorcycle. Missing from majority of two-wheelers, Honda’s CBS equips its users with simple mechanism allowing riders to use both brakes using a single lever. Hence, in the competitive automotive sector, such exceptional innovations have the potential to make the company stand out and attract potential customers.

Talk to one of our sales representative about the full report by providing your details in the link below:

https://www.industryarc.com/support.php?id=501082

Related Reports:

A. Automotive Brake Systems Market

https://www.industryarc.com/Research/Automotive-Brake-Systems-Market-Research-50389

B. Air Brake System Market

https://www.industryarc.com/Research/Air-Brake-System-Market-Research-505724

C. Automotive Regenerative Braking System Market

https://www.industryarc.com/Research/Automotive-Regenerative-Braking-System-Market-Research-502216

About IndustryARC:

IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to [email protected] to discuss more about our consulting services.

Press Release Distributed by The Express Wire

To view the original version on The Express Wire visit Brake System Market demand is progressing with a CAGR of 6.31% during the forecast period 2019-2025