Automotive Brake System Market Size, Status and Industry Outlook During 2020 to...

Automotive Brake System Market Size, Status and Industry Outlook During 2020 to 2025 Along With Covid-19 Impact Analysis

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Oct 27, 2020 (Market Insight Reports) —
The Automotive Brake System Market as of late Published Global Market look into study with in excess of 100 industry enlightening work area and Figures spread through Pages and straightforward itemized TOC on “Automotive Brake System Market”.
The report gives data and the propelling business arrangement data in the segment to the trade. The report gives a thought related with the progression of this market advancement of key players of this industry. An assessment of this Automotive Brake System market depends upon points, which are of composed into advertise investigation, is fused into the reports.

The global Automotive Brake System Market is projected to grow at a CAGR of over 5.5% during the forecast period 2020 to 2025.

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– Automotive brake systems have gained traction in recent times, owing to the increasing need for advanced technology automotive brakes for commercial, as well as passenger vehicles. The increasing number of road accidents, worldwide, has led to governments and international organizations enacting various stringent safety norms, thereby, leading to automotive braking companies developing advanced braking technologies, such as the anti-lock braking system (ABS). Government mandates have led to automotive manufacturing companies, worldwide, incorporating the ABS in every vehicle they manufacture. 40 countries of United Nations Economic Commission for Europe (UNECE) agreed to mandatorily adopt Automatic Emergency Braking (AEB) systems for vehicles by 2020. These factors are expected to drive the growth of market.

Key Market Trends

Carbon and Ceramic segment projected to grow at a high pace
Moto racing sports have greatly contributed to the developments in vehicle braking technology. Carbon-Carbon brakes that were initially used in formula 1 are now used in top end cars such as Ferrari, Lamborghini and sports cars from Audi and BMW. However, carbon-carbon brakes are very costly (up to USD 20000) and this factor can hinder the growth rate. Carbon-Ceramic brakes are formed by coating carbon fiber disc with ceramic braking surface coating. They weigh almost 50% less than cast iron rotor brakes and have a negligible wear and tear rate but the cost of replacement of such brakes is also 3 to 5 times higher than normal brakes.

Asia-Pacific is expected to see the highest growth
In the automotive brake system market, the growth of the Asia-Pacific region is expected to be more during the forecast period. China is one of the biggest automotive markets in the world. The growing Chinese economy and rising disposable incomes of people in China have increased the demand for vehicles in the country. Additionally, the low production costs in China has favored the growth of vehicle manufacturing in China. In 2018, China produced 27.8 million vehicles.
Moreover, the rising number of accidents in India has led to an increase in safety features, especially in the mid-level vehicles. In order to minimize such incidents, the Indian government has made it mandatory for all automobile companies to install anti-lock braking systems in their vehicles by April 2019. 2-wheeler models such as Hero Karizma, Bajaj V15 and car models such as Hyundai Eon, Honda Brio, Fiat Punto, Tata Bolt, etc. were discontinued due to lack of ABS and stringent government emission and safety norms.

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Competitive Landscape
The automotive brake system market is fragmented, with various players existing in the market. Advics Co. Ltd is the leading player in the market. The market is driven by the vehicle production trend, aftermarket replacement rate, and acquisition activities among the key players.
Other players in the market include Akebono Brake Industry Co., Brembo SpA, Continental AG, ZF TRW CO., etc. Some of the recent developments in braking technology are
– New wheel concept by Continental is designed to assist electric vehicles in regenerative braking. This concept increases comfort by lowering corner weights and also provides safety through larger friction radius and longer availability of braking functions. It also reduces the total cost of ownership.

Regions covered By Automotive Brake System Market Report 2020 To 2025 are
North America (The United States, Canada, and Mexico), Asia-Pacific (China, India, Japan, South Korea, Australia, Indonesia, Malaysia, and Others), Europe (Germany, France, UK, Italy, Russia, and Rest of Europe), Central & South America (Brazil, and Rest of South America), and Middle East & Africa (GCC Countries, Turkey, Egypt, South Africa and Other).

Impact of the Automotive Brake System market report
– Comprehensive evaluation of all opportunities and risks in the market.
– Automotive Brake System market ongoing developments and significant occasions.
– Detailed study of business techniques for development of the market-driving players.
– Conclusive study about the improvement plot of market for approaching years.
– Top to bottom appreciation of market-express drivers, targets and major littler scale markets.
– Favorable impression inside imperative mechanical and publicize latest examples striking the market.

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Irfan Tamboli (Sales Manager) – Market Insights Reports
Phone: + 1704 266 3234 | +91-750-707-8687
sales@marketinsightsreports.com | irfan@marketinsightsreports.com

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