The Global Brake System Market is Estimated to reach $29 Billion by 2028, at a CAGR of 4.9%

Published Date: 31-Aug-2022

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Brake System Market Growth, Trends and Report Highlights

According to a new report, published by KBV research, 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.

The Antilock Braking Systems (ABS) market acquired the highest revenue share in the Global Brake System Market by Technology in 2021, thereby, achieving a market value of $16.3 billion by 2028. A safety anti-skid braking system known as an anti-lock braking system (ABS) is used on buses, trucks, cars, and motorbikes as well as on airplanes. In order to retain tractive contact with the road surface and provide the driver with better control over the car, ABS works by preventing the wheels from locking up when braking.

The Pneumatic market is showcasing a CAGR of 6.8% during (2022 - 2028). One form of automobile braking system is the pneumatic braking system, also called the air braking system. Heavy trucks cannot be stopped by the hydraulic brake's output of brake force. Therefore, pneumatic brakes are used in heavy vehicles.

The Disc market is generating the maximum revenue in the Global Brake System Market by Brake Type in 2021, thereby, achieving a market value of $17.6 billion by 2028. A wheel's revolution can be slowed down or stopped with the help of a disc brake. Cast iron is typically used to make disc brakes, however, they can occasionally also be built of composite materials such as carbon-carbon or ceramic matrix composites.

The Light-commercial Vehicles (LCV) market has shown the growth rate of 5.3% during (2022 - 2028). An automobile with at least four wheels that are used to transport goods is called a light commercial vehicle (LCV). LCVs are used in more industries, and as a result of this expanded use in more industries, there is a rising demand for effective and potent light commercial vehicles.

The Asia Pacific market dominated the Global Brake System Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $10.3 billion by 2028. The North America market is expected to witness a CAGR of 4.5% during (2022 - 2028). Additionally, The Europe market is expected to witness a CAGR of 4.3% during (2022 - 2028).

Full Report: https://www.kbvresearch.com/brake-system-market/

The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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)

Global Brake System Market Segmentation

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
    • US
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Malaysia
    • Rest of Asia Pacific
  • LAMEA
    • Brazil
    • Argentina
    • UAE
    • Saudi Arabia
    • South Africa
    • Nigeria
    • 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)

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Related Reports:

North America Brake System Market size & Opportunities 2022-2028

Europe Brake System Market & Growth Forecast 2022-2028

Asia Pacific Brake System Market Share & Industry Outlook to 2028

LAMEA Brake System Market Growth, Trends & Forecasts 2022-2028

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