Automotive Brake Systems Market Size, Share & Industry Analysis, By Vehicle Type (Hatchback/Sedan, SUVs, LCV, and HCV), By Propulsion (ICE and Electric), By System Type (Electromagnetic Braking System, Mechanical Braking System, and Hydraulic Braking System), By Technology (Anti-locking Braking System (ABS), Electronic Stability Control (ESC), Traction Control System (TSC), and Electronic Brakeforce Distribution (EBD)), By Component (Disc Brakes, ABS Control Module, Drum Brakes, Emergency Brakes, Master Cylinder, and Others), and Regional Forecast, 2024-2032

The global automotive brake systems market size was valued at USD 45.03 billion in 2023. The market is projected to grow from USD 45.57 billion in 2024 to USD 64.01 billion by 2032, exhibiting a CAGR of 4.3% during the forecast period.

An automotive brake system slows down or stops vehicles by converting kinetic energy into heat with the help of friction. When the driver pushes the brakes, hydraulic pressure from the master cylinder activates brake calipers or wheel cylinders, pressing brake pads or shoes against rotating discs or drums. This creates friction, slowing the vehicle.

With the rise of Electric Vehicles (EVs), there is a growing demand for brake systems tailored to the unique characteristics of electric propulsion, such as regenerative braking systems. However, the integration of innovative technologies such as electronic controls, regenerative braking systems, and lightweight materials increases the overall cost of brake system components. Stringent safety regulations imposed by governments worldwide, coupled with increasing awareness among consumers regarding vehicle safety, are major drivers of automotive brake systems market.

The COVID-19 pandemic disrupted the market, leading to production halts, supply chain disruptions, and reduced vehicle sales globally. Lockdown measures and economic uncertainty decreased consumer spending, impacting aftermarket demand for brake system components. However, recovery efforts, government stimulus packages, and the gradual resumption of automotive production activities were expected to drive market revival, with a renewed emphasis on safety features and vehicle maintenance amid evolving market conditions, which influenced the market growth during the post-pandemic period.

Automotive Brake Systems Market Trends

Integration of Advanced Safety Features and Technologies Advances the Market

With increasing focus on vehicle safety, manufacturers are developing brake systems that seamlessly integrate with Advanced Driver Assistance Systems (ADAS) and Autonomous Driving (AD) technologies. These systems include predictive braking algorithms, emergency braking systems, and brake-by-wire technology. Additionally, there is a growing demand for lightweight materials and energy-efficient brake systems to enhance vehicle performance and meet stringent regulatory standards. This trend underscores the industry's commitment to improving safety, efficiency, and sustainability in automotive brake systems amidst evolving market dynamics and consumer preferences.

In December 2023, Sensata Technologies revealed its brake force sensor selection by leading automotive brake system manufacturers for integration into next-gen Electromechanical Brake (EMB) systems. This sensor directly measures clamping force within foundation brakes, allowing closed-loop control for passenger cars. Electromechanical brakes with force sensors offer improved performance, safety, and regenerative braking optimization.

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Automotive Brake Systems Market Growth Factors

Increasing Emphasis on Vehicle Safety to Propel Market Development

Stringent regulations and heightened consumer awareness have spurred the demand for advanced automotive brake systems equipped with features such as Anti-Lock Braking System (ABS), Electronic Stability Control (ESC), and collision avoidance systems. Manufacturers are innovating to meet these safety standards and address consumer preferences, driving market expansion. Additionally, rising vehicle production, technological advancements, and the growing aftermarket for brake system upgrades contribute to market growth. This focus on safety underscores the importance of reliable and efficient brake systems in ensuring vehicle safety and performance.

For instance, in April 2024, the National Highway Traffic Safety Administration (NHTSA) stated that nearly all newly produced passenger cars and commercial vehicles sold in the U.S. must feature automatic emergency braking systems by September 2029. NHTSA estimates that this rule will annually save a minimum of 360 lives and prevent at least 24,000 injuries. This regulation has been enacted in response to a spike in road accident casualties following the COVID-19 lockdowns.

RESTRAINING FACTORS

Increasing Cost of Advanced Technologies and Materials to Hamper Market Demand

The integration of features, such as electronic controls, regenerative braking, and lightweight components increases manufacturing expenses. This poses challenges for manufacturers striving to balance performance, safety, and affordability, particularly in cost-sensitive market segments. High production costs can hinder the widespread adoption of innovative brake technologies, especially in entry-level vehicles or regions prioritizing cost-effective solutions. Finding the equilibrium between cost-effectiveness and technological advancement remains a significant obstacle for stakeholders in the market for automotive brake systems.

Automotive Brake Systems Market Segmentation Analysis

By Vehicle Type Analysis

Need for Reliable and High-Performance Braking Solutions Drives the HCV Segment Growth

By vehicle type, the market is segmented into hatchback/sedan, SUVs, LCV, and HCV.

The SUVs segment dominated the market in 2023, with a market share of around 43%. The demand for robust braking solutions to accommodate the vehicles' heavier weight, larger size, and diverse driving conditions drives the segment’s growth. SUVs' popularity, coupled with safety regulations and consumer preferences for advanced safety features, spurs the need for effective brake systems. As SUVs gain traction in the automotive market, the demand for specialized brake systems tailored to their requirements intensifies, which leads to segmental growth. For instance, in February 2022, Aston Martin introduced the Aston Martin DBX707, equipped with 420mm carbon brakes. Enhancements to the braking system's hydraulic sizing and booster tuning enhance the pedal feel and braking response.

The HCV segment is anticipated to exhibit the fastest CAGR during the forecast period. The need for reliable and high-performance braking solutions to ensure safety and compliance with stringent regulations elevates the market demand. Heavy commercial vehicles, characterized by their large size, weight, and hauling capacity, require robust brake systems capable of effectively stopping heavy loads. As the demand for efficient transportation grows, the HCV segment records a high demand for advanced brake systems tailored to specific requirements, boosting market expansion over the forecast period.

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By Propulsion Analysis

Continued Dominance of Traditional Vehicles Fuels the ICE Segment’s Growth

By propulsion, the market is segmented into ICE and electric.

The ICE segment holds the largest share of the global market. As ICE vehicles are used worldwide, the demand for efficient, reliable, and cost-effective brake systems persists. Manufacturers focus on optimizing braking performance while meeting regulatory standards, ensuring that ICE vehicles maintain safety and reliability. This sustained demand fuels innovation and development in the market.

The electric segment is estimated to grow at a rapid pace, with a CAGR of 5.3% over the forecast period. As the adoption of EVs increases worldwide, there is a growing demand for specialized brake systems tailored to electric propulsion. These systems often incorporate regenerative braking technology to maximize energy efficiency and extend vehicle range. Manufacturers are innovating to develop advanced brake systems that complement the characteristics of electric vehicles, driving the automotive brake systems market growth. In February 2022, ZF collaborated with British electric vehicle manufacturer Tevva to develop the regenerative braking system for its 7.5-ton battery-electric truck. This collaboration included close cooperation between ZF and Tevva engineers to integrate ZF's Electronic Brake System (EBS) into Tevva's zero-emission electric trucks.

By System Type Analysis

Growing Popularity of Electric Vehicles Drives the Electromagnetic Braking System Demand

By system type, the market is divided into electromagnetic braking system, mechanical braking system, and hydraulic braking system.

The hydraulic braking system segment dominated the market for automotive brake systems in 2023. Hydraulic brake systems have long been established as a standard in vehicle braking, offering consistent performance and durability. As the automotive industry continues to highlight safety and efficiency, the demand for dependable hydraulic brake systems remains strong, driving market growth and innovation in hydraulic brake technology to meet evolving industry standards and consumer expectations.

The electromagnetic braking system segment is poised to grow at the fastest CAGR during the forecast period. Electromagnetic brakes offer efficient energy recovery through regenerative braking, improving overall vehicle efficiency and extending range. As the demand for electric propulsion grows, there is an increasing need for electromagnetic braking systems that complement these powertrains, driving market expansion and innovation in electromagnetic brake technology to meet the requirements of modern automotive applications. The International Energy Agency (IEA) predicts ongoing robustness in electric car sales for 2024, projecting approximately 17 million units to be sold by the year-end. First-quarter sales witnessed a significant uptick of about 25% compared to the corresponding period in 2023, highlighting the market's sustained expansion.

By Technology Analysis

Stringent Safety Regulations Elevate the Requirement for ABS in Vehicles

By technology, the market for automotive brake systems is fragmented into Anti-locking Braking System (ABS), Electronic Stability Control (ESC), Traction Control System (TSC), and Electronic Brakeforce Distribution (EBD).

The Anti-locking Braking System (ABS) segment dominated the market in 2023. ABS prevents wheel lock-up during braking, enabling drivers to keep up steering control and reduce the risk of accidents, especially in emergency braking situations. As safety regulations become more stringent and consumer demand for advanced safety features increases, the adoption of ABS continues to grow, driving market expansion and technological advancements, which leads to the segmental expansion.

The Electronic Stability Control (ESC) segment held the second-largest automotive brake systems market share in 2023. ESC plays a pivotal role in enhancing vehicle stability and plummeting the risk of sliding or loss of control. ESC systems use sensors to detect and mitigate loss of traction, especially during cornering or evasive maneuvers, improving overall vehicle safety. As safety regulations evolve and the consumer demand for advanced safety features grows, the adoption of ESC continues to drive market growth and innovation.

In April 2022, Bosch India, a prominent provider of technology and services, revealed that it had achieved a significant milestone by manufacturing over 10 million Anti-lock Braking System (ABS) and Electronic Stability Program (ESP) units for passenger vehicles at its Chakan plant in Pune, Maharashtra.

By Component Analysis

Compliance with Regulatory Standards Advances the ABS Control Module Segment Growth

By component, the market is segregated into disc brakes, ABS control module, drum brakes, emergency brakes, master cylinder, and others.

The disk brake segment held the largest market share of automotive brake systems in 2023. Disc brakes offer efficient heat dissipation, shorter stopping distances, and consistent braking performance under various driving conditions. As vehicle manufacturers prioritize safety and performance, disc brakes are increasingly favored over drum brakes. The demand for disc brake systems continues to grow, fueled by advancements in automotive technology and consumer preference for enhanced braking capabilities. In November 2022, Continental introduced the Green Caliper, a lighter brake caliper for disc brakes. Its reduced weight and residual brake torque, along with lower friction, could enhance electric vehicle range.

The ABS control module segment is anticipated to grow at the fastest CAGR during the forecast period (2024-2032). ABS control modules regulate the anti-lock braking system, preventing wheel lock-up and maintaining steering control during braking. As safety regulations become more stringent and consumer demand for advanced safety features increases, the adoption of ABS control modules continues to drive market growth, innovation, and integration with other safety systems.

REGIONAL INSIGHTS

Rapid Economic Growth in Asia Pacific Fuels Regional Market Growth

By region, the market is studied across North America, Europe, Asia Pacific, and the rest of the world.

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Asia Pacific leads the automotive brake systems market due to robust industrial growth, increased vehicle ownership, and a strong manufacturing presence in emerging countries such as China and India. For instance, according to the OICA (International Organization of Motor Vehicle Manufacturers), Asia Pacific recorded around 59% of the total vehicles in 2023 worldwide. Technological advancements, stringent safety regulations, and growing awareness of vehicle safety further drive the product demand. With significant investments in research and development, the region produces innovative brake systems that meet global standards. Moreover, rapid infrastructure development also fuels the need for vehicles, consolidating the Asia Pacific's dominance in this market.

In Europe, the market for automotive brake systems thrives at the fastest CAGR due to stringent safety regulations, emphasizing advanced braking technologies. High consumer awareness of safety standards prompts the demand for reliable brake systems. The region's focus on sustainability encourages the adoption of eco-friendly braking solutions. Additionally, a strong automotive industry coupled with technological innovation drives market growth. With a penchant for quality and performance, European consumers consistently demand cutting-edge brake systems.

In North America, the market is primarily driven by stringent safety regulations, which necessitate advanced braking technologies. Consumer demand for high-quality and reliable brake systems, coupled with a robust automotive industry, further fuels market growth. Technological innovations, such as electronic brake systems, cater to the region's preference for cutting-edge automotive solutions, contributing to the market's momentum.

In the rest of the world, the market is driven by increasing vehicle production and sales, particularly in emerging economies. The adoption of safety regulations and growing awareness of vehicle safety standards propel the demand for reliable brake systems. Technological advancements and infrastructure development further boost market growth, catering to the evolving requirements of consumers in these regions.

List of Key Companies in Automotive Brake Systems Market

Companies Enter Strategic OEM Partnerships to Gain Competitive Edge

The global automotive brake systems market is considered highly competitive, with key market players such as Bosch, Continental AG, ZF Friedrichshafen AG, and Aisin Seiki dominating the market. These companies focus on innovation, product differentiation, and strategic partnerships to maintain their competitive edge. Additionally, regional players and new entrants contribute to market competitiveness, leading to a dynamic landscape. Factors such as quality, reliability, and cost-effectiveness drive competition, with an emphasis on meeting evolving consumer demand.

List of Key Companies Profiled:

• Robert Bosch GmbH (Germany)


• Brembo S.p.A. (Italy)


• Continental AG (Germany)


• ZF Friedrichshafen AG (Germany)


• Aisin Seiki (Japan)


• Akebono Brake Industry Co., Ltd. (Japan)


• Knorr-Bremse AG (Germany)


• Haldex AB (Sweden)


• Nissin Kogyo Co., Ltd. (Japan)


• Mando Corporation (South Korea)

KEY INDUSTRY DEVELOPMENTS:

• November 2023 - ZF pioneered an electric brake-by-wire system for forthcoming software-defined vehicles. This advanced brake system eliminates the necessity for brake fluid while also enabling the possibility of combining electric and hydraulic brake systems. Developed across ZF's research and development hubs in China, the U.S., and Germany, this innovative brake system targets the global market.


• June 2023 - Continental, with joint venture partner Nisshinbo Holdings, inaugurated the Gurugram production plant. This 40-60% share venture is planned to manufacture valve blocks for Continental's Electronic Brake Systems (EBS) in India. Nisshinbo handles machining, producing valve blocks in the JV plant, and then assembling at Continental's Gurugram facility.


• May 2023 - The U.S. federal auto safety regulator proposed mandating automatic braking systems in all new vehicles to curb rising traffic fatalities. The plan by the National Highway Traffic Safety Administration requires car companies to adopt more advanced systems. It mandates that all light vehicles stop automatically to prevent collisions with pedestrians up to 37 mph and with stationary or slow-moving vehicles up to 62 mph, especially effective at night.


• January 2023 - Brakes India, a TSF Group company, unveiled their motor on drum brakes for the passenger vehicle segment, completely designed and developed by Brakes India, at the Auto Expo 2023.


• July 2022 - Orbis Brakes launched Periodic Wave disc brakes with NASA, offering superior cooling, reducing brake fade, and boosting vehicle efficiency. The patented design weighs 50% less, cutting manufacturing energy by half and lowering carbon footprint. The global adoption could slash billions of pounds of CO2, while the 100% recyclable iron material reduces toxic brown emissions.

REPORT COVERAGE

The automotive brake systems market research report provides a detailed analysis of the market and focuses on key aspects such as leading companies, product/service types, and leading applications of the product. Besides, the report offers insights into the market trends and highlights key industry developments. In addition to the factors above, the report encompasses several factors that contributed to the growth of the market in recent years.

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