Automotive Braking Systems Market Size is Expected to Cross $28.13 Billion by 2023 | Million Insight

 

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This study provides insights about the Automotive Braking Systems Market in regards to its uses and benefits. We at Crystal Market Research (CMR) provide updated information that is beneficial in decision making regarding business investments.

Industry Outlook and Trend Analysis:
The Automotive Braking Systems Market was worth USD 17.43 billion in 2014 and is expected to reach approximately USD 28.13 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 5.46% during the forecast period. The market is anticipated to encounter a huge upsurge throughout the following years, inferable from the execution of cutting edge frameworks, for example, Traction Control System (TCS), Antilock Braking System (ABS), Electronic Stability Control (ESC), and Electronic Brake-Force Distribution (EBD), among others. The advent of smart braking systems has prompted a reduction in the quantity of mishaps and loss of lives. These can be incorporated with other safety systems that empower speed control and avoid sliding of vehicles to limit dangers of a potential accident. The expanding production of vehicles and sales combined with rules over halting distances, have contributed majorly to the development and improvement of the business.

Major Leading Players:
The leading players in the market are Robert Bosch GmbH, Federal-Mogul, ZF Friedrichshafen, Autoliv, Akebono Brake Industry, Brembo Brake India Pvt ltd and Continental AG. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.

Regional Outlook and Trend Analysis:
The Asia Pacific area commanded the market in 2016 and is foreseen to develop at the most astounding CAGR over the conjecture time frame. The makers in the district provide high-cost lessening, inferable from the accessibility of low-cost labour and raw materials. Moreover, the district includes nations, for example, China and India, which represented around 34% of the aggregate vehicle generation in 2016. Expanding demand of active braking systems, combined with a surge in sales of extravagance and premium vehicles, is foreseen to drive the market. The North American locale is anticipated to develop at a substantial CAGR over the conjecture time frame.

Type Outlook and Trend Analysis:
The NCAP rating for cars furnished with security frameworks is a key driver of the business development. Nonetheless, high expenses of the most recent technologies turn out to be trying for automakers, as they can’t incorporate the advances into low-priced vehicles. Another essential issue looked by makers is fake of parts, which can hamper the vehicle execution and wellbeing. Increased awareness to the adverse effects of utilizing fake parts and diminishment in costs of authentic vehicle parts are critical in reducing counterfeiting.

Vehicle Type Outlook and Trend Analysis:
Technological progressions and advent of electro-mechanical brakes, which consolidated the accuracy of computerized microcontrollers and sensors, have empowered automakers to convey most extreme security for passengers. Nonetheless, this has expanded the cost of stopping mechanisms and in this manner, the general vehicle cost. Passenger cars proprietors excessively spend on upgraded stopping mechanisms and accordingly, the fragment is anticipated to develop at a significant CAGR over the forecast period.

Technology Outlook and Trend Analysis:
The ABS portion held the biggest share of the overall industry in 2016. The dynamic endeavours of different automotive associations toward compulsory adoption of ABS in prominent districts have prompted the development of the ABS technology. In like manner, the rising usage of ESC technology, attributable to its apparent advantages in picking up vehicle control in an emergency situation, is anticipated to drive the development of the automotive brake systems market over the conjecture time frame.

The Automotive Brake Systems Market is region-wise segmented as follows-
Automotive Braking Systems Market By Type (Drum and Disc), Vehicle Type (Commercial Vehicles and Passenger Cars), Technology (TCS, EBD, ABS, ESC) Forecast 2014 to 2023

By Region: North America: (U.S., Canada & Mexico), Europe: (Germany, UK, France, Russia, Italy & Rest of Europe), Asia-Pacific: (China, Japan, South Korea, India, Southeast Asia & Rest of Asia-Pacific), South America: (Brazil, Argentina, Columbia, South Africa & Rest of South America) and Middle East and Africa: (Saudi Arabia, UAE, Egypt, Nigeria, South Africa & Rest of MEA)

Major ToC of Automotive Brake Systems Market:
Part 1. Introduction
1.1. Report Description
1.2. Research Methodology
1.2.1. Secondary Research
1.2.2. Primary Research

Part 2. Executive Summary
2.1. Key Highlights

Part 3. Market Overview
3.1. Introduction
3.1.1. Market Definition
3.1.2. Market Segmentation
3.2. Market Dynamics
3.2.1. Drivers
3.2.2. Restraints
3.2.3. Opportunities
3.2.3.1. Emerging Markets to Offer Lucrative Growth Opportunities

Part 4. Market Analysis by Regions
4.1. North America (United States, Canada and Mexico)
4.1.1. United States Market States and Outlook (2014-2023)
4.1.2. Canada Market States and Outlook (2014-2023)
4.1.3. Mexico Market States and Outlook (2014-2023)

Part 5. Automotive Braking System Market, By Type
5.1. Introduction
5.2. Global Automotive Braking System Sales, Revenue and Market Share by Type (2014-2018)
5.2.1. Global Automotive Braking System Sales and Sales Share by Type (2014-2018)
5.2.2. Global Automotive Braking System Revenue and Revenue Share by Type (2014-2018)
5.3. Disc Brakes
5.3.1. Global Disc Brakes Sales and Growth Rate (2014-2018)
5.4. Drum Brakes
5.4.1. Global Drum Brakes Sales and Growth Rate (2014-2018)

….CONTINUED FOR TOC

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Examine Report Description with Detailed ToC on Automotive Braking Systems Market at: https://www.crystalmarketresearch.com/report/automotive-braking-systems-market .

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