The Global Brake System Market size is expected to reach $29 billion by 2028, rising at a market growth of 4.9% CAGR during the forecast period

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A braking system is a technique that is used to stop a vehicle’s motion. Brakes typically use friction between two surfaces to transform the vehicle’s kinetic energy into heat, which then causes the vehicle to stop.

New York, Oct. 03, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Brake System Market Size, Share & Industry Trends Analysis Report By Technology, By Actuation, By Brake Type, By Vehicle Type (Passenger Car, Light-commercial Vehicles, Truck and Bus, By Regional Outlook and Forecast, 2022 - 2028" - https://www.reportlinker.com/p06321885/?utm_source=GNW
The mechanism that uses artificial resistance to slow down or stop a moving body can also be referred to as brake system. To create the friction needed to stop the vehicle, various methods are employed.

The management of heat energy created, which otherwise could harm the vehicle or the brake system, is the most crucial consideration when building any brake system. The brakes have two unique purposes. The first thing to do in an emergency is to stop or slow down the car as quickly as possible. The second is to retain vehicle control when going down a hill. While the second function calls for brakes that can disperse a lot of heat without causing significant temperature increases, the first function calls for brakes that can impart considerable braking torques to the brake drums.

Because of the surge in demand for both passenger and commercial vehicles, the market for brake systems is anticipated to grow dramatically. The acceptance of luxury cars, the adoption of severe safety regulations, and the rising use of disc brakes in commercial vehicles are all contributing to the market’s expansion. Additionally, only a certain number of kilometres can be covered by brake components before they need to be replaced, which is driving up interconnected markets as well.

COVID-19 Impact Analysis

The brake system market endured severely negative impacts of the pandemic. COVID-19’s effects included a lack of materials and subcontractors, disruptions in the supply chain, and contract terminations in an effort to reduce costs. Worldwide operations were impacted by public and commercial sector laws and measures to reduce COVID-19 transmissions, such as travel limitations and the adoption of remote working. The national government’s trade restrictions, export limitations, and other similar measures also had a negative impact on the marketability of a number of goods. The ability of suppliers and vendors to provide goods and services was similarly impacted by COVID-19.

Market Growth Factors

Addition of cutting-edge braking systems like ABS and EBD to improve vehicle safety

The stopping distance can be decreased by using electronic braking systems such as Brake Assist (BA), Anti-lock Brake Systems (ABS), and Electronic Brakeforce Distribution (EBD). ABS helps shorten stopping distances when braking forcefully by enabling stability of the vehicle and directional control. This is only one of the many benefits ABS has over traditional braking systems. The Royal Society for the Prevention of Accidents (ROSPA) claims that ABS guarantees the achievement of the smallest distance at which a vehicle can come to a stop. BA is typically used in conjunction with ABS and is dependent on the vehicle’s ABS technology.

Government rules requiring the use of sophisticated emergency braking systems

A draft of United Nations regulation regarding advanced emergency braking (AEB) systems for cars and light trucks was approved by more than 40 nations in 2019 with the goal of reducing vehicle collisions. The EU’s Regulation No. 152-00 for AEB systems in light passenger and commercial cars has been changed. According to the rule, AEB must be standard equipment on all new vehicles. Additionally, the legislation requires the testing of vehicles at 60 mph to verify the deployment of AEB systems. AEB systems are becoming more and more common, largely as a result of government regulations requiring them as standard equipment in new car models.

Market Restraining Factors

High expenditures of developing and maintaining superior braking technology

The cost of routine brake system maintenance includes replacing brake fluid, brake shoes, and brake pads, resurfacing rotors, cleaning, adjusting, and lubricating other costly braking components, as well as performing general brake system maintenance. Given that the sensors on each wheel might cost hundreds of dollars, maintaining an ABS is expensive. For instance, Repair Smith estimates that the typical cost to replace an ABS sensor is between $150 and $400 and the average cost to replace brake fluid is between $90 and $200. Additionally, it can cost between USD 750 and $1,000 to repair crucial parts such as master cylinders, rotors, calipers, drums, pads, and cylinders.

Technology Outlook

On the basis of technology, the brake system market is segmented into Antilock Braking Systems (ABS), Electronic Stability Control (ESC), Traction Stability Control (TCS), and Electronic Brakeforce Distribution (EBD). The Electronic Stability Control segment recorded a substantial revenue share in the brake system market in 2021. The ESC is a crucial safety feature that stops dangerous vehicle conditions from occurring. Additionally, ESC is a requirement for other safety innovations like driver assistance systems. The ESC system continuously analyses the driver’s input with the actual behaviour of the vehicle using data from the steering angle sensor, wheel speed sensors, yaw rate, and lateral acceleration sensor.

Actuation Outlook

On the basis of actuation, the brake system market is classified into hydraulic and pneumatic. The hydraulic actuation acquired the largest revenue share in the brake system market in 2021. The popularity of hydraulic brake systems is rising as both the production of passenger automobiles and light commercial vehicles (LCV) rise. During the forecast period, hydraulic brake systems are expected to expand due to benefits such as superior heat dissipation compared to mechanical brakes, improved braking power transmission, compact size, and ease of repair due to easily available brake parts in the aftermarket.

Brake Type Outlook

Based on brake type, the brake system market is bifurcated into disc and drum. The Drum brake segment recorded a significant revenue share in the brake system market in 2021. Drum brakes are brakes where the inside surface of the drum is pressed against the shoes. Although such brakes are extremely uncommon, they are occasionally referred to as "pinch drum brakes" when the drum is pinched between two shoes, much like a typical disc brake. These can easily be used with disc brakes. As they are comparatively economical, a majority of vehicles make use of them.

Vehicle Type Outlook

Based on vehicle type, the brake system market is categorized into passenger car, Light-commercial Vehicles (LCV), truck, and bus. The passenger cars segment acquired the highest revenue share in the brake system market in 2021. A passenger car is a vehicle that is used to transport people and has a maximum seating capacity of nine people (including the driver). Passenger automobile includes microcars, taxis, and rented passenger cars. In many parts of the world, passenger vehicles are the predominant form of road transportation.

Regional Outlook

On the basis of region, the brake system market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific region procured the highest revenue share in the brake system market in 2021. The growing prevalence of usage of passenger cars is the main force behind the growth of this segment. The increasing customer preference for cars with automated brakes, SUVs, and trucks is pushing the market forward. These are supported by the rise in companies launching new vehicles and electric vehicles in the region.

Strategies Deployed in Brake System Market

2022-Jun: Knorr-Bremse acquired Cojali, a Spanish company and global developer of multi-brand traditional and remote diagnostics systems for commercial and other vehicle types. Through this acquisition, Knorr-Bremse invested in the connectivity applications market. This also helped the company to further develop its digitalization expertise.

2022-Jan: Volkswagen’s software subsidiary Cariad partnered with Bosch, a German multinational engineering and technology company. This partnership aimed at developing software for Level 2 automated driving and Level 3 automated driving system. The Level 2 autonomous driving software enabled hands-free driving in cities, rural areas, and motorways.

2021-Oct: Brembo launched SENSIFY, a new intelligent braking system that integrates advanced software based on artificial intelligence. This product would incorporate the company’s world-renowned brake components. Additionally, SENSIFY combines the current Brembo product portfolio of calipers, discs, and friction materials with digital technology and artificial intelligence to create a flexible platform that includes software, predictive algorithms, and data management to control the brake system digitally.

2021-Apr: Brembo took over J.Juan Group, a Spanish company specializing in the development and production of motorbike braking systems. This move completed Brembo’s range of motorbike braking system solutions. This acquisition also helped Brembo to expand its brand family for the growing motorbike sector.

2021-Feb: Knorr-Bremse unveiled eCUBATOR, an e-mobility innovation unit. Through this in-house development unit, the company bundled its know-how in the field of e-mobility. This product development would involve up to 60 internal and external experts would work on future solutions at the Knorr-Bremse locations in Munich and Budapest.

2021-Jan: ZF expanded its business with the latest series production order. Through this expansion, ZF established its latest brake control solutions to be a standard in Volkswagen’s ID.3 and ID.4 models as well as in Volkswagen Group’s globally marketed modular e-drive system MEB platform. Additionally, with its brake control, ZF provided better comfort and safety as well as optimized the recovery of braking energy.

2020-Nov: Bosch collaborated with Hunter Engineering, the global leader in vehicle alignment systems, wheel and tire service, brake service, and inspection lane equipment. This collaboration focused on developing and selling advanced drivers’ assistance calibration systems (ADAS) in North America. Additionally, these calibration tools are designed to help technicians align important safety systems quickly and accurately, saving the customer money.

2019-Jun: Hitachi Automotive Systems (HAS) acquired Chassis Brakes International, a multinational manufacturer of automotive brakes and brake components. This acquisition strengthened Hitachi Automotive Systems’ chassis and safety systems capabilities. It also supported the development and integration of electrification, AD/ADAS technologies, and software that contributes to a safer and more sustainable society.

2018-Sep: Mando Corp. introduced MGH-100, a new electronic brake system (EBS). The product is an anti-lock brake system (ABS) that enhances driving safety by reducing skidding while braking and is a core module to electronic brakes manufactured by Mando and autonomous vehicles. It is also part of the company’s electronic stability control (ESC) system that prevents a car from losing control from skidding or over-steering.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Robert Bosch GmbH, Knorr-Bremse AG, Brembo S.p.A., Continental AG, Hitachi, Ltd. (Hitachi Astemo, Ltd.), Denso Corporation, ZF Friedrichshafen AG, Aisin Corporation, Haldex AB and Mando Corporation (Halla Group).

Scope of the Study

Market Segments covered in the Report:

By Technology

• Antilock Braking Systems (ABS)

• Electronic Stability Control (ESC)

• Traction Stability Control (TCS)

• Electronic Brakeforce Distribution (EBD) & Others

By Actuation

• Hydraulic

• Pneumatic

By Brake Type

• Disc

• Drum

By Vehicle Type

• Passenger Car

• Light-commercial Vehicles (LCV)

• Truck

• Bus

By Geography

• North America

o US

o Canada

o Mexico

o Rest of North America

• Europe

o Germany

o UK

o France

o Russia

o Spain

o Italy

o Rest of Europe

• Asia Pacific

o China

o Japan

o India

o South Korea

o Australia

o Malaysia

o Rest of Asia Pacific

• LAMEA

o Brazil

o Argentina

o UAE

o Saudi Arabia

o South Africa

o Nigeria

o Rest of LAMEA

Companies Profiled

• Robert Bosch GmbH

• Knorr-Bremse AG

• Brembo S.p.A.

• Continental AG

• Hitachi, Ltd. (Hitachi Astemo, Ltd.)

• Denso Corporation

• ZF Friedrichshafen AG

• Aisin Corporation

• Haldex AB

• Mando Corporation (Halla Group)

Unique Offerings

• Exhaustive coverage

• Highest number of market tables and figures

• Subscription based model available

• Guaranteed best price

• Assured post sales research support with 10% customization free
Read the full report: https://www.reportlinker.com/p06321885/?utm_source=GNW

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