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The North America brake system market size attained a value of USD 11.35 billion in 2023. The market is further expected to grow at a CAGR of 4.10% between 2024 and 2032, to reach a value of USD 16.32 billion by 2032.
A brake system is the combination of automotive components which resist the motion of a vehicle, bringing it to a halt. A brake system consists of two curved brake shoes containing a friction material lining which produces friction in order to slow down the vehicle. A static surface is applied to a vehicle’s moving surface, causing friction and subsequently converting kinetic energy to heat energy, slowing down the vehicle movement.
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Based on product type, the market is segmented into disc brake, hydrostatic brake, hydraulic wet brake, and regenerative and dynamic brake, among others. On the basis of end user, the market is classified into automotive, construction equipment, agriculture equipment, industrial truck, and mining equipment. By distribution channel, the market is bifurcated into original equipment manufacturer (OEM) and aftermarket. The regional markets for brake systems in North America are the United States and Canada.
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. The report gives a detailed analysis of the following key players in the North America brake system market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.
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The disc brake segment, based on product type, accounts for a healthy share of the North America brake system market. This can be attributed to the presence of local suppliers in the region which manufacture high-quality hydraulic brakes capable of performing outdoor and heavy duty breaking functions. Disc brakes are considered to be among the only types of brakes that are used in front wheels but can be used in all four wheels as well. The advantages offered by this type of brake, such as greater braking power, operability in wet and muddy conditions, and higher responsiveness compared to counterparts, is heightening its incorporation in passenger and commercial vehicles in North America, leading to an accelerated growth of this segment.
Based on end user, the automotive segment accounts for a significant share in the North America brake system market. With the vast distances in the region, there is a key demand for automotives for daily travelling and commute, particularly in countries like the United States. The growing automotive component sales, triggered by frequent servicing of automobiles and increasing expansion of auto-related small businesses, is fuelling the growth of this segment. Rising demand for all-terrain vehicles across North America is further enhancing the incorporation of brake systems, thereby, adding in the North America brake system market revenue. The increasing sale of light trucks across the United States is likely to bolster the segment’s growth in the forecast period.
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Brembo S.P.A. is a leading innovator and provider of braking technology for automotive vehicles. The company develops and markets high-performance braking systems for both commercial and passenger cars and motorbikes, with operations in several countries. Brembo was founded in 1961 and is currently headquartered in Curno, Italy, and its brands include AP Racing, Bybre, Breco, Marchesini, SBS Friction, and J.Juan.
Rassini. S.A.B. de C.V. (Formerly Sanluis Corporation) is a prominent designer and manufacturer of suspension and brake components that cater to the demands of the automotive industry. The product portfolio of this company includes multileaf springs, rotors, discs, drums, motor balancers, and hubs, among others. It was established in 1976 and is headquartered in Coahuila, Mexico.
Mando Corporation is one of the world’s largest suppliers and manufacturers of original equipment to major automotive companies such as Chevrolet, Ford, and Chrysler, among others. The company specialises in auto parts that are central to the safety of vehicles, including brake systems, suspensions, and steering. It was founded in 1962 and is headquartered in Seongnam-si, South Korea.
Other market players include The New York Brake Corporation (Knorr – Bremse), Haldex AB, and BorgWarner Inc., among others.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
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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 User |
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*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 market reached a value of USD 11.35 billion in 2023.
The market is estimated to grow at a CAGR of 4.10% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of USD 16.32 billion by 2032.
The increasing incorporation of disc brake technology in commercial trucks, rising applications of brake systems in construction equipment, increasing standards of living, and thriving transportation sector are the major drivers of the market.
The key trends in the market include the emergence of new usage truck models and efforts by law enforcement agencies and inspection services to improve vehicular safety.
Disc brake, hydrostatic brake, hydraulic wet brake, and regenerative and dynamic brake, among others, are the different product types in the market.
Automotive, construction equipment, agriculture equipment, industrial truck, and mining equipment are the various end users of the market.
Original equipment manufacturer (OEM) and aftermarket are the different distribution channels in the market.
Brake systems work on the principle of friction which brings impedance to the movement of the vehicle.
Brembo S.P.A., Rassini. S.A.B. de C.V. (Formerly Sanluis Corporation), Mando Corporation, The New York Brake Corporation (Knorr – Bremse), Haldex AB, and BorgWarner Inc., among others, are the key players in the North America brake system market, according to the report.
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