Automotive Brake Components Market Share Forecast Between 2022 - 2030

The Automotive Brake Components Market is projected to expand steadily over the next ten years, driven by rising vehicle production and increased emphasis on safety features. This analysis covers market size, trends, drivers, challenges, regional outlook, and major companies in the industry.
Automotive brake components are the parts of a car's braking system that slow or stop the vehicle. They include the brake pads, rotors, calipers, and brake lines. The brake pads are made of a friction material that is bonded to a metal backing plate. When the driver presses the brake pedal, the brake pads are forced against the rotors, which are attached to the wheels. The friction between the brake pads and the rotors slows the wheels and stops the car. The calipers are the parts that hold the brake pads in place and apply pressure to them. The brake lines are the tubes that carry brake fluid from the master cylinder to the calipers. Automotive brake components are essential for safety and must be in good working order to ensure that a car can stop safely. They should be inspected regularly and replaced as needed.

Automotive Brake Components Market Highlights and Stats:

● Global market size will reach USD 72.6 billion by 2030 from USD 46.6 billion in 2021, registering a CAGR of 5.1% during the forecast period.
● Disc brakes segment holds the dominant revenue share in 2021 owing to high penetration in passenger cars.
● Asia Pacific leads the market in 2021 revenue share, driven by large vehicle production volumes.
● Rising adoption of ADAS technologies like ABS and ESC to stimulate product demand.
● Increasing popularity of electric vehicles to create opportunities for regenerative braking system components.

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Automotive Brake Components Market Overview and Analysis:

The automotive brake components market is expected to grow in the future due to a number of factors. First, vehicle production is expected to increase, which will lead to an increased demand for brake components. Second, there is an increasing focus on safety features in vehicles, and brake components are an important part of this. Third, electronic braking systems are becoming more popular, and this will also lead to an increased demand for brake components. Technological advancements such as brake-by-wire and the integration of ADAS features will alter the market landscape, as they will require new types of brake components. However, volatility in raw material prices poses a challenge to the market, as it can lead to fluctuations in the cost of brake components.

Key Trends in the Automotive Brake Components Market:

● Brake pads are being developed with low-copper friction material to reduce environmental impact.
● Smart brake rotors with sensors to measure thickness and generate alerts are being launched.
● Aluminum brake calipers are being adopted for lightweighting in electric vehicles.
● Brake components are being integrated with ADAS technologies for autonomous emergency braking and vehicle stability control.
● Pedal feel characteristics are being enhanced through mechatronic solutions.

Major Growth Drivers in the Automotive Brake Components Market:

● The global vehicle production and parc is on the rise.
● Stringent safety regulations are mandating the adoption of ABS and ESC.
● There is a growing demand for luxury and premium vehicles equipped with advanced braking systems.
● Upcoming trends like autonomous driving and brake-by-wire technologies are also expected to drive the demand for advanced braking systems in the future.
● Developments in electric vehicle braking systems are also expected to create new opportunities for growth in the market.

Challenges Facing the Automotive Brake Components Industry:

● Volatility in the prices of raw materials like cast iron and steel.
● Increased overall costs due to the integration of electronics and mechatronics.
● Optimizing components for hybrid and electric powertrains.
● Ensuring reliability under varied operating conditions.
● Managing friction brake and regenerative braking coordination.

Segmentation:

Market Segmentation by Product Type:
● Brake Shoe
● Brake Caliper

Market Segmentation by Vehicle Type:
● Light Commercial Vehicle
● Medium & Heavy Commercial Vehicle
● Passenger Car

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Regional Overview Automotive Brake Components Market

North America is expected to hold the largest share of the market in 2021. This can be attributed to the presence of a large number of automotive manufacturers in the region. Europe is expected to be the second-largest market for automotive brake components in 2021. This can be attributed to the rising demand for passenger cars and light commercial vehicles in the region. Asia Pacific is expected to be the fastest-growing market for automotive brake components during the forecast period. This can be attributed to the increasing focus on safety features in vehicles and the growing adoption of electronic braking systems in the region.

Key Players in the Automotive Brake Components Market:

Akebono Brake Industry Co. Ltd., Brembo S.p.A., Continental AG, Denso Corporation, Hyundai Mobis Co. Ltd., Knorr-Bremse AG, Robert Bosch GmbH, ZF Friedrichshafen AG, Wabco Holdings Inc. and Aisin Seiki Co. Ltd. Development of ADAS-integrated braking systems and solutions for EVs will be crucial.

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This release was published on openPR.