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Brake System Market Size to Surpass USD 29 Billion by 2029, at a 11.9% CAGR from 2022 to 2029

Brake System Market

Brake System Market

Brake System Market 2023, Industry Size-Share, Global Trends, Key Players Strategies, Upcoming Demand, Business Opportunities, Gross Margin and Forecast 2029

The brake system market is thriving, driven by growing vehicle production, rising safety concerns, and advancements in braking technology, indicating a positive and dynamic growth trajectory.”
— Exactitude Consultancy

LUTON, BEDFORDSHIRE, UNITED KINGDOM, December 4, 2023 /EINPresswire.com/ -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Brake System Analysis Report.

According to a Comprehensive Research Report by Exactitude Consultancy, “Brake System Market by Technology (Antilock Braking System, Traction Control System, Electronic Stability Control, Electronic Brake Force Distribution, Electronic Brake System) Application (Passenger Cars, Commercial Vehicles, Two Wheelers, Trains) and by Region (North America, Europe, Asia Pacific, South America, Middle East and Africa) Global Trends and Forecast from 2022 to 2029”, The global brake system market is projected to reach USD 29 billion by 2029 from USD 19.33 billion in 2020, at a CAGR of 11.9% from 2022 to 2029. The market for braking systems is anticipated to be driven by factors like the introduction of strict safety requirements, the growing use of air disc brakes in commercial vehicles, and the adoption of high-end and luxury cars.

Download Sample PDF Brochure of Brake System Market:

https://exactitudeconsultancy.com/reports/10649/brake-system-market/#request-a-sample

Recent Developments

In July 2019, Continental and Knorr-Bremse entered in partnership towards highly automated commercial vehicle driving for automated platooning (i.e., driving in a column). The cooperation partners show with this Platooning Demonstrator what driving functions they can develop, jointly with the vehicle manufacturers, for automated driving. This includes the formation of platoons, driving together, the emergency braking function, exiting by individual vehicles, and safe splitting up of the entire platoon.

In March 2020, ZF launched an industry-first Front Electric Park Brake, extending the range of Electric Park Brake (EPB) systems to a wider range of vehicles. With this solution, car manufacturers can now equip smaller vehicles with an advanced braking system and design their interior without the classic handbrake lever or park brake pedal.

In November 2020, TRW (ZF’s aftermarket brand) product portfolio for the independent aftermarket was further expanded in the two-piece brake disc segment. These brake discs are now also available for various Mercedes-Benz C- and E-Class models. Additional references for S-Class and GLC models of the Stuttgart premium manufacturer will follow in mid-2021.

Note – This Report Sample Includes:

✔ A summary of the research work.

✔ Table of Contents The study’s depth of coverage

✔ Market participants at the forefront

✔ The research framework of the report’s structure

✔ Exactitude Consultancy’ research methodology

Brake System Market Competitive Landscape:

The major vendors in the Brake System industry are

Robert Bosch GmbH, ZF Friedrichshafen AG, Continental AG, Aisin Seiki Co, Ltd., Knorr-Bremse AG, and Brembo S.p.A, ADVICS Co., Ltd

Some points on how the report benefits stakeholders:

The Brake System Market reports include historical (2018–2020) and forecast (2022–2029) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.

The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.

Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2018 and 2029.

The Brake System Industry report contains data and information on customers, competitors, vendors/distributors, and other players and in the global marketplace.

The report contains company profiles of the top companies operating in the Brake System market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.

Brake System Market research analysis is vital for all crucial business strategies and can aid in numerous ways and to provide a clearer understanding about strategies being deployed by competitors, product launches, competitive analysis, technological advancements and various other factors that enhance sales of a firm or perhaps provide insights to focus on merger and acquisition as a strategy or enter into strategic agreements or joint ventures etc.

Browse Full Premium Report | Brake System Market Analysis with Strategic Developments

https://exactitudeconsultancy.com/reports/10649/brake-system-market/

What are the market factors explained in the report?

Key Strategic Developments: The study includes key strategic developments of the Brake System, comprising R&D, new product launch, mergers and acquisitions, agreements, partnerships, collaborations, joint ventures, and regional growth of key competitors operating in the market globally and region.

Key Market Features: The report analyzed key market features including price, revenue, capacity, supply/demand, capacity utilization rate, gross production, production rate, market share, consumption, import/export, cost, CAGR and gross margin. Furthermore, the report also offers a comprehensive study of the key Brake System dynamics and its latest trends, along with relevant market segments and sub-segments.

Analytical Tools: The Global Outsourced Brake System report includes accurately researched and analyzed data on the key industry players and their scope in the market through various analytical tools. Analytical tools such as Porter's five forces analysis, feasibility study, and ROI analysis have been used to analyze the growth of the key players operating in the market.

Regional Analysis

The Brake System market by region includes Asia-Pacific (APAC), North America, Europe, South America, and Middle East & Africa (MEA).

North America: includes the US, Canada, Mexico
Asia Pacific: includes China, Japan, South Korea, India, Australia, ASEAN and Rest of APAC
Europe: includes UK, Germany, France, Italy, Spain, Russia, and Rest of Europe
South America: includes Brazil, Argentina and Rest of South America
Middle East & Africa: includes Turkey, UAE, Saudi Arabia, South Africa, and the Rest of MEA

Asia Pacific is expected to lead the market during the forecast period

The Asia Pacific region has been a center for automotive production in recent times, owing to factors such as shifting consumer preferences, rising middle-class disposable income, and cost benefits for regional automakers. Many manufacturers have already established large-scale production facilities in these nations, including Volkswagen AG and BMW Motors in Germany. The market for automotive brake systems in the area is being driven by an increase in automobile production.

Future developments in braking systems and expansions by brake system manufacturers to meet the rising demand for disc brakes in passenger cars and light commercial vehicles are the main factors driving the growth of the Asia Pacific brake system market. The region is home to numerous well-known businesses, including Mando Corporation (South Korea), Hitachi Automotive Systems Ltd. (Japan), Aisin Seiki Co., Ltd. (Japan), and Akebono Brake Corporation (Japan).

Frequently Asked Questions

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