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Automotive Brake System Market Segmented By Disc Brake, Drum Brake Type in Mid-sized Passenger Cars, Compact Passenger Cars, Luxury Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles, Premium Passenger Cars with Anti-Lock Braking System, Electronic Stability Control, Traction Control System, Electronic Brake-Force Distribution Technology
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.
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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.
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Get a Customized VersionThe 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 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.
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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.
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