Automotive Brake Systems Market Accelerating to $54.39 Billion by 2029, at a CAGR of 8.1%
21 Jan, 2025
What Were the Driving Factors for the Automotive Brake System Market In the Recent Past?
The Automotive Brake Systems Market has shown significant growth in recent years.
• The market ballooned from $37.47 billion in 2024 to $39.79 billion in 2025 at a compound annual growth rate (CAGR) of 6.2%.
This increase can be pinned on a surge in consumer demand, global vehicle production, safety regulations, economic factors, as well as growing aftermarket demand.
What Is the Forecasted Growth of the Automotive Brake System Market?
Anticipation is high for the automotive brake systems market in the coming years.
• The market is set to flourish to $54.39 billion in 2025 at a compound annual growth rate (CAGR) of 8.1%.
Emerging innovations and trends like electric and hybrid vehicles, autonomous vehicles, environmental regulations, connected vehicle technology, and energy efficiency, alongside globalization of the market, are expected to fuel this growth.
What Is Fueling the Growth in the Automotive Brake Systems Market?
The mounting demand for passenger and commercial vehicles is stoking the automotive brake system market's growth. Improving disposable incomes and increased demand for personal vehicles for daily commuting have resulted in a spike in demand for these vehicles, consequently fueling the utilization of automotive brake systems. As an example, the Society of Motor Manufacturers and Traders reported in January 2024 that the UK commercial vehicle production had grown by 18.5% in 2023, with 120,357 vehicles produced.
What Are the Key Market Segments in the Automotive Brake Systems Market?
Key divisions of the automotive brake systems market include:
1) Product Type: Disc Brakes, Drum Brakes
2) Technology: Antilock Braking Systems (ABS), Electronic Stability Control (ESC), Traction Stability Control (TCS), Electronic Brakeforce Distribution (EBD)
3) Sales Channel: Original Equipment Manufacturers (OEMs), Aftermarket
4) Vehicle Type: Passenger Car, Light-commercial Vehicles (LCV), Truck, Bus
What Are the Emerging Trends in the Automotive Brake Systems Market?
Innovative solutions like new generation electronic brake systems are being developed by key players in the automotive brake systems market. These solutions improve vehicle safety, improve responsiveness, and optimize braking performance. For instance, Continental AG launched the MK 120 ESC, a new generation electronic brake system in May 2023, suitable particularly for electric models and enhancing safety and efficiency.
Who Are the Key Players in the Automotive Brake Systems Market?
Key players making significant contributions to the market include:
• Advics Co. Ltd.
• Aisin Seiki Co. Ltd.
• Akebono Brake Industry Co. Ltd.
• Brembo SpA
• Continental AG
• Robert Bosch GmbH
• ZF Friedrichshafen AG
• Federal-Mogul Motorparts LLC
• Bendix Commercial Vehicle Systems LLC
• Knorr-Bremse AG
• WABCO Holdings Inc.
• Mando Corporation
• Haldex AB
• Nissin Kogyo Co Ltd.
• Meritor Inc.
• Advanced Braking Technology Ltd.
• TMD Friction Holdings GmbH
• Midwest Air Technologies Inc.
• Nisshinbo Holdings Inc.
• ADVICS CO. LTD.
Which Region Dominated the Automotive Brake Systems Market?
Asia-Pacific was the most prolific region in the automotive brake systems market in 2024. The regions assessed in this report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.