The automotive brake system market is anticipated to record substantial growth over the course of the forecast period because of the importance of the automobile industry in both developed and emerging economies. Rising safety concerns amongst the general population have compelled national governments to issue guidelines and mandates with respect to improving vehicular safety. Persistence Market Research has recently prepared an exhaustive report titled ‘‘Automotive Brake System Market: Global Industry Analysis (2012-2016) & Forecast (2017-2022)’.The report delivers a historical analysis for the period 2012 to 2016 along with a forecast for the five-year study period from 2017 to 2022 for the automotive brake system market. The study is an accurate representation of the market dynamics across the regions APEJ, MEA, Latin America, North America, Europe, and Japan that influence both the current as well as future potential that exists in the automotive brake system market.
Automotive Brake System Market Taxonomy
The automotive brake system report has included a detailed evaluation of the automotive brake system and offers important insights on the factors impacting and driving the sales of automotive brake systems. The study comprehensively assesses key stakeholder strategies critical to succeed in the automotive brake system market. The automotive brake system market has studied the market on the basis of brake type, sales channel, vehicle type, technology, and region.
The automotive brake system market report begins with a broad overview of the automotive brake system market in terms of value expressed in US dollars. Furthermore, this section touches on the technological trends and opportunity analysis influencing the automotive brake system market as a whole. A thorough evaluation of each market size for the automotive brake system market across the different geographic regions is par for the course in the automotive brake system market report. The market presence for key participants in the automotive brake system market concludes this section.
Another section has an in-depth analysis of the automotive brake system market across different countries. This chapter highlights relevant trends within important countries that contribute to the growth of the automotive brake system market. An adequate amount of focus has been given to both developed and emerging economies and companies that seek to target specific high-growth areas are advised to refer to this section of the automotive brake system market report.
In an uncertain global economy, it is essential to conduct forecasts not only in terms of CAGR, but also look at the market with the help of other key metrics such as Y-o-Y growth rate and absolute dollar opportunity. The final sections of the automotive brake system market report mention the competitive landscape in the automotive brake system market. A dashboard view of the immediate competition has all the necessary information that new entrants and incumbents in the automotive brake system market would need. Competitor strategies, recent developments and activities, and financial ratios can be gleaned from this section of the automotive brake system market report. A SWOT analysis can allow readers to devise their business strategies with a degree of confidence.
The automotive brake system market is predicted to record substantial growth over the course of the forecast period because the automotive industry has a bright future ahead of it in both developed and emerging economies. Increasing safety concerns have led to governmental mandates that lay down the guidelines pertaining to vehicular safety norms. The growth in the automotive brake system market is directly linked to that of the demand for passenger cars as well as commercial vehicles. Furthermore, new technological innovations such as ABS and regenerative braking have become prominent in the last decade. The automotive brake system market is anticipated to be worth more than US$ 25 billion by the end of 2022.
Close Call Between Disc and Drum Brakes in Automotive Brake System Market
There are two main brake types in the automotive brake system market – disc brakes and drum brakes. The disc brake segment has a slightly larger revenue share in the automotive brake system market at the end of 2017 and is projected to near a value of US$ 14 billion by the end of the forecast period. Nonetheless, a higher CAGR is predicted to be in the drum brake segment and key stakeholders in the automotive brake system market are advised to take this into consideration while devising long-term strategies. Europe accounts for the largest regional contribution in the drum brake segment and companies should focus their attention on this affluent continent for maximum returns on investment.
OEM Segment Dominates the Automotive Brake System Market
The OEM segment has a revenue share of approx. fourth-fifth by sales channel segment in the automotive brake system market and is poised to gain market share going forward. Therefore, it is a critical segment that companies can hardly afford to ignore in the automotive brake system market. The OEM segment is predicted to record a robust CAGR of more than 5.5% from 2017 to 2022. The aftermarket segment is much smaller in comparison and comprises the balance revenue share in the automotive brake system market by sales channel segment. Along with Europe, companies could try to target North America or APEJ as both regions are assessed to have a market value of more than a billion dollars at the end of the five-year study period.
Compact Cars Sales Benefiting Automotive Brake System Market
Compact cars are particularly popular in the APEJ and Europe markets and have a revenue share of slightly under a third of the automotive brake system market. Compact cars have the advantage of being easy to maneuver coupled with being easy on the wallet at the fuel pump. Thus, it isn’t surprising to know that compact cars are estimated to gain market share over the course of the forecast period. The mid-size car segment follows compact cars in terms of popularity but are still likely to lose market share. The Europe mid-sized passenger car market may be worth almost US$ 2 billion in 2022.
Competition Dashboard in the Automotive Brake System Market
Several prominent companies actively involved in the automotive brake system market have been profiled in the report. They are Aisin Seiki, Akebono Brake Industry Co., Brembo SpA, Knorr-Bremse AG, Continental AG, Knorr-Bremse AG, Mando Corporation, Robert Bosch GmbH, Wabco Holdings Inc, and ZF Friedrichshafen AG.