Global Automotive Braking Component Market was valued US$ 44 Bn in 2017 and is expected to reach US$ 67.54Bn by 2026 at a CAGR of about 5.5% during a forecast.
Global Automotive Braking Component Market is segmented into by vehicle type, by sales channel, by product type, and by region. Based on vehicle type, Automotive Braking Component Market is classified into Passenger Cars, Light commercial vehicles & Heavy Commercial vehicles. In sales, channel are parted into OEM & Aftermarket. In product type are divided into Electronic Stability Control, Adaptive Cruise Control, Anti-lock Braking System, Differential Slip Control & Traction Control System. Geographically into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Global Industry Analysis and forecast 2018-2026.
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Driving factors for automotive braking component market are rise in vehicle production across the globe, Rapid increase in the production and sales of vehicles, over road traffic crashes and increasing number of deaths, extensive usage of drum brakes in rear braking applications of passenger vehicles and control of vehicleâ€™s stopping distance are creating more demand in automotive braking component market.
Component failure and emerging competitors can hamper the growth of Automotive Braking Component Market.
In terms of product type, Anti-lock braking system segment shares the largest market during the forecast period. Anti-lock Braking System in trends to Improve the vehicle control, decreases stopping distances on dry and slippery surfaces and prevent the vehicles from the accident in the emergency condition. Most of the 2-wheelers in the developed markets are high-end vehicles that have similar safety features as standard and increased adoption of such safety systems in passenger vehicles are also expected to boost the market.
In terms of Sales Channel, Aftermarket segment is projected to grow at fastest during the forecast period. Aftermarket trends in automotive manufacturing, leading to OEM installation of thinner, lighter brake parts that need to be replaced more frequently. The ready availability of less expensive imports that makes it more affordable to replace rather than resurface rotors and drums and increases in raw materials will have more demand in the market for automotive braking component market,
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Among region, Asia Pacific is expected to grow at the highest CAGR during the forecast period. Emerging economics and massive growth in manufacturer across the region like China, South Korea, Japan, and India will create more opportunity in this region. tolerant safety, emission norms, low production cost, government schemes to increase foreign direct investments and Rise in disposal income and ever increasing population of this region will create more opportunity in the Automotive Braking Component Market.
Akebono Brake Industry, Brake Parts, Brembo, CARDONE Industries, Continental, Halla Mando Corp, CWD, Centric Parts, Delphi Automotive Plc, Honeywell International Inc, Nisshinbo Industries, AC Delco, EBC Brakes, Robert Bosch GmbH, Federal-Mogul, Japan Brake Industrial Co. Ltd., MAT Holdings, Power Stop, TMD Friction Holdings GmbH and ZF TRW.
The scope of the Report Global Automotive Braking Component Market:
Global Automotive Braking Component Market: By Vehicle Type
Global Automotive Braking Component Market: By Sales Channel
Global Automotive Braking Component Market: By Product Type
Electronic Stability Control
Adaptive Cruise Control
Anti-lock Braking System
Differential Slip Control
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Traction Control System Civil Airports
Global Automotive Braking Component Market: By region
Middle East & Africa
Key Player analyzed in Global Automotive Braking Component MarketÂ the Report:
Akebono Brake Industry
Halla Mando Corp
Delphi Automotive Plc
Honeywell International Inc
Robert Bosch GmbH
Japan Brake Industrial Co. Ltd.
TMD Friction Holdings GmbH