In this report, LP Information covers the present scenario (with the base year being 2017) and the growth prospects of global Brake System market for 2018-2023.
A typical automotive brake system or braking system comprises of a brake device having different components, which are used for slowing or stopping down a vehicle. More precisely, these devices decrease or stop the speed of a moving or rotating body by absorbing kinetic energy mechanically or electrically.
Brake market is segmented on the basis of product into disc brake and drum brake. Disc brake uses a pair of calipers to squeeze against a disc to create friction that reduces the speed of the vehicle in motion whereas the drum brake is a brake in which brake shoe presses against the inside of a drum on the wheels. Disc brakes are preferred in commercial vehicles only in Europe. Elsewhere, Disc brakes are used in passenger vehicles.
Automotive brake system market is expected to witness substantial growth over the forecast period on account of growing automotive industry particularly in developing economies of the world. Furthermore, increasing concerns over safety resulting in government mandates to improve the vehicle safety is expected to drive demand over the next seven years. Growth in the automotive brake industry would primarily be led by the passenger car segment and commercial vehicle segment.
Over the next five years, LPI(LP Information) projects that Brake System will register a 3.1% CAGR in terms of revenue, reach US$ 13000 million by 2023, from US$ 10800 million in 2017.
This report presents a comprehensive overview, market shares, and growth opportunities of Brake System market by product type, application, key manufacturers and key regions.
To calculate the market size, LP Information considers value and volume generated from the sales of the following segments:
Segmentation by product type:
Segmentation by application:
This report also splits the market by region:
Middle East & Africa
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report:
Akebono Brake Industry
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
To study and analyze the global Brake System consumption (value & volume) by key regions/countries, product type and application, history data from 2013 to 2017, and forecast to 2023.
To understand the structure of Brake System market by identifying its various subsegments.
Focuses on the key global Brake System manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Brake System with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
To project the consumption of Brake System submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.