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Base Year
Historical Year
Forecast Year
The global market for brake system is expected to grow at a CAGR of 7.0% in the forecast period of 2024-2032 to reach a value of USD 85.83 billion by 2032.
Global Brake System Market Report Summary | Description | Value |
Base Year | USD Billion | 2023 |
Historical Period | USD Billion | 2018-2023 |
Forecast Period | USD Billion | 2024-2032 |
Market Size 2023 | USD Billion | XX |
Market Size 2032 | USD Billion | 85.83 |
CAGR 2018-2023 | Percentage | XX% |
CAGR 2024-2032 | Percentage | 7.0% |
CAGR 2024-2032 - Market by Region | Asia Pacific | 9.1% |
CAGR 2024-2032 - Market by Country | India | 10.4% |
CAGR 2024-2032 - Market by Country | China | 8.7% |
CAGR 2024-2032 - Market by Product Type | Regenerative and Dynamic Brake | 7.9% |
CAGR 2024-2032 - Market by Distribution Channel | OEM | 7.7% |
Market Share by Country 2023 | Japan | 3.4% |
Rising Demand for Disk Brakes, owing to its Superior Stopping Power to Bolster the Market Growth
Based on product type, the disk brake segment accounts for a significant share in the market and fuels the growth of the brake system market. This can be attributed to the superior stopping power offered by the product, which can prevent any evitable mishap or accident. Over the forecast period, the growth of the segment is expected to be propelled by the growing popularity of wide tyres, owing to the expected growth in road trips and tourism, especially post-pandemic, as disk brakes are suitable for wide tyres. Meanwhile, the drum brake segment is likely to drive the growth of the overall market, owing to the higher friction contact area, along with the cheap manufacturing costs, of the product.
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Growing Demand for the OEM Segment to Augment the Market Growth
On the basis of distribution channel, the original equipment manufacturer (OEM) segment is anticipated to grow at a healthy rate over the forecast period, owing to the high-quality assurance, along with the quick response and efficient monitoring, offered by the manufacturers, which further boosts brake system demand. Other advantages of the product, including value and lifespan of the product, warranty, and return of investment are expected to support the growth of the market.
As per the brake system market analysis, Wabtec Corporation announced in January 2024 that it has secured an order of around USD 157 million for the supply of brake systems to Siemens India, which is developing a 9000-horsepower locomotive for Indian railways.
According to the brake system industry analysis, almost all the passenger cars and trucks in the USA are obliged to have automatic emergency brake systems by 2029, as per the National Highway Traffic Safety Administration (NHTSA). This new rule is mandated to prevent deaths in road accidents as industry experts predict that these emergency systems can save around 360 lives and prevent 24,000 injuries per year. Congress also proposed the NHTSA to create an infrastructure law in 2021 which sets minimum performance standards for automotive emergency brake systems.
These systems can detect pedestrians in both day and nightlight and some small-scale manufacturers in the country will be expected to comply with them by 2030. NHTSA has also stated a rule under which cars and trucks can apply brakes up to 90 mph for vehicles, and up to 45 mph for pedestrians. Additionally, in 2016, 20 automakers agreed to implement emergency braking standards on almost all US vehicles by 2022, and in 2023, all the automakers had equipped around 95% of the vehicles with autonomous emergency braking, which is expected to boost the growth of the brake system industry.
Efforts are also underway to modernise the trams in cities and make them more safety-efficient and well-equipped. For instance, DAKO-CZ, a developer of braking systems, announced in July 2024 that it aims to modernise the trams in Gothenburg, Sweden. The company aims to supply hydraulic brake units for 79 trams, which are suitable for the urban transport network. The deliveries of these new braking systems are expected to continue till 2027, which is expected to boost the brake system industry revenue.
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A brake system is one of the crucial components, which is required to stop a motor vehicle. It includes a braking pedal, master cylinder, connecting hoses, lines, fluids, linkage, drums, shoes, and parking brake, among other components. It is an essential part of a vehicle in order to prevent accidents.
Based on product type, the market is divided into:
On the basis of end use, the industry is segmented into:
The various distribution channels of the brake system industry include:
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
CAGR 2024-2032 - Market by | Country |
India | 10.4% |
China | 8.7% |
Canada | 6.6% |
Mexico | 6.5% |
Australia | 6.2% |
USA | XX% |
UK | XX% |
Germany | 5.1% |
France | XX% |
Japan | XX% |
Saudi Arabia | XX% |
Brazil | XX% |
Italy | 4.4% |
Growing Downstream Demand for Brake Systems to Boost the Growth of the Market
The brake system market growth is driven by the growing downstream demand for brake systems in various industries, such as automotive, construction equipment, agriculture equipment, industrial truck, and mining equipment, among others. The demand for brake systems from the automotive industry has been significant and is likely to be further catalysed due to the rising sales of passenger and commercial vehicles. The market is expected to be aided by the growing awareness of road safety due to the rising cases of accidents, rash driving, and heavy traffic conditions. The growing mechanisation across downstream industries is projected to propel the demand for brake systems in the coming years.
The report gives a detailed analysis of the following key players in the global brake system market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
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The Asia Pacific Accounts for a Significant Share in the Market
The thriving automobile sector in the Asia Pacific, especially in countries like India, China, Japan, and South Korea, is the major driving factor for the expansion of the brake system industry in the region. The market is also expected to be augmented by the growing popularity of electric cars, coupled with the rising disposable incomes and rising population in emerging economies. In India, the commercial car segment is anticipated to generate a healthy demand for brake systems, owing to the rising demand for cab services.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Product Type |
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Breakup by End Use |
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Breakup by Distribution Channel |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The global brake system market is estimated to grow at a CAGR of 7% during 2024-2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 85.83 billion by 2032.
The major drivers of the market include the growing end-use of brake systems in various industries including automotive, construction equipment, agriculture equipment, and industrial trucks, rising awareness about road safety, and increasing demand for passenger and commercial cars.
The key trends guiding the growth of the market include the technological advancements in the automotive industry in order to enhance the safety for the consumers and the growing mechanisations in downstream industries.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
Disc brake, drum brake, hydrostatic brake, hydraulic wet brake, and regenerative and dynamic brake are the various product types in the market.
Automotive, construction equipment, agriculture equipment, industrial truck, and mining equipment are the leading end uses of braking system in the market.
Original equipment manufacturer (OEM) and aftermarket are the significant distribution channels of braking system in the market.
The key players in the global brake system market are Aisin Seiki Co., Ltd., Brembo S.P.A., Continental AG, BorgWarner Inc., Hitachi Astemo, Ltd., Knorr-Bremse AG, and Nissin Kogyo Co, Ltd., among others.
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