Automotive Brake System Market (By Type: Disc Brake & Drum Brake; By Vehicle Type: Passenger Cars, Commercial Vehicles; By Technology) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2024-2033

Automotive Brake System Market Size and Growth

The global automotive brake system market size was estimated at around USD 50.08 billion in 2023 and it is projected to hit around USD 85.87 billion by 2033, growing at a CAGR of 5.54% from 2024 to 2033.

Key Pointers

• Asia Pacific led the global market with the largest market share of 59% in 2023.
• North America is expected to grow at the fastest CAGR of 5.73% from 2024 to 2033.
• By Type, the disc brake segment generated the maximum market share of 62% in 2023.
• By Type, the drum brake segment is expected to expand at the highest CAGR of 3.54% from 2024 to 2033.
• By Vehicle Type, the passenger cars generated the maximum market share of 73% in 2023.
• By Technology, the electronic stability control (ESC) contributed the largest market share of 33% in 2023.

Automotive Brake System Market Overview

The automotive brake system market is a critical component of the automotive industry, playing a pivotal role in ensuring vehicle safety and performance. With advancements in technology and increasing emphasis on safety standards, the market for automotive brake systems continues to evolve and expand.

Automotive Brake System Market Growth Factors

The growth of the automotive brake system market is driven by the stringent government regulations and safety standards worldwide are driving the demand for advanced braking systems that can enhance vehicle safety and reduce the risk of accidents. Additionally, the increasing production and sales of automobiles globally contribute to the expansion of the market. Furthermore, technological advancements such as anti-lock braking systems (ABS), electronic brake-force distribution (EBD), and regenerative braking systems are fueling market growth by offering improved performance and efficiency. Moreover, consumer preferences for vehicles equipped with advanced braking technologies that provide better comfort and driving experiences are also driving market growth.

Automotive Brake System Market Trends:

• Electrification and Hybridization: The shift towards electric and hybrid vehicles is influencing brake system design. Regenerative braking systems, which capture and store energy during braking, are becoming more prevalent in electric and hybrid vehicles, reducing reliance on traditional friction brakes.
• Advanced Driver Assistance Systems (ADAS): Integration of ADAS features like automatic emergency braking (AEB), adaptive cruise control, and collision avoidance systems is driving demand for more sophisticated brake systems capable of rapid and precise responses to various driving situations.
• Lightweight Materials: Manufacturers are increasingly utilizing lightweight materials such as aluminum, carbon fiber, and composites in brake components to reduce vehicle weight and improve fuel efficiency without compromising braking performance.
• Predictive Maintenance: The adoption of predictive maintenance technologies, enabled by sensors and data analytics, allows for proactive monitoring of brake system health, minimizing downtime and enhancing safety by identifying potential issues before they escalate.
• Brake-by-Wire Technology: Brake-by-wire systems, which replace mechanical linkages with electronic controls, offer greater flexibility in brake system design and enable integration with other vehicle systems such as stability control and autonomous driving features.
• Focus on Sustainability: Growing environmental awareness is driving the development of eco-friendly brake materials and manufacturing processes, such as low-copper and copper-free brake pads, to reduce environmental impact and meet regulatory requirements.
• Integration of Connectivity: Integration of connectivity features allows for remote monitoring and control of brake system performance, enabling real-time diagnostics, over-the-air updates, and enhanced safety features through vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) communication.

Type Insights

The automotive brake system market, based on type, is segmented into drum brakes and disc brakes. The disc brake segment held the largest market share of 62% in 2023. In recent years, the application of disc brakes has grown significantly. The growth of disc brakes is attributed to their capacity to work in adverse weather conditions without overheating or fading. Additionally, its compatibility with other advanced systems is further propelling the growth of the disc brake segment.

The drum brake segment mainly comprises multiple gas extractors and is estimated to exhibit a significant CAGR of 3.54% over the forecast period. Drum brakes have an enclosed design and employ circular components (brake shoes) to provide the necessary friction for lowering speed. In contrast, disc brakes use a narrow rotor and caliper to stop wheel movement. As a result, performance suffers. Although disc-based systems have more braking power than drum-based systems, automakers choose drums because they are more cost-effective.

Vehicle Type Insights

The market based on the vehicle is segmented into commercial vehicles and passenger cars. Passenger cars dominated the market, with the highest revenue share of 73% in 2023. Passenger cars are increasing due to population growth, disposable income, and urbanization.

Manufacturers tend to develop a braking system more efficiently for more safety features. The ADAS is the most important element influencing the passenger car's primary market share and growth. Furthermore, growing expenditures in ADAS are expected to influence the brake systems market due to an increase in the requirement for electromagnetic induction braking systems in automobiles, motorcycles, and other vehicles during the forecast period.

Similarly, many manufacturers are developing different variants of the braking system aimed at offering increased braking power in multiple terrain types. The manufacturers are prioritizing reducing the weight of the brake system, which has led to the development of high-performance, lighter braking systems in the market.

On the other hand, the commercial vehicles segment is expected to grow at a significant CAGR of 4.52% over the forecast period. The global demand for commercial vehicles, such as trucks, buses, and vans, has steadily increased. This growth can be attributed to expanding e-commerce, rising logistics and transportation needs, and growth in industries like construction and mining. As the commercial vehicle fleet expands, the demand for reliable and efficient braking systems also grows.

Technology Insights

The market based on technology is segmented into antilock brake systems (ABS), traction control systems, electronic stability control, and electronic brake-force distribution. Electronic Stability Control (ESC) dominated the market with the highest revenue share of 33% in 2023. Electronic stability control technology is becoming more widely adopted because of its perceived benefits in regaining vehicle control in an emergency. Therefore, it is expected to drive the growth of the market during the forecast period.

The ABS segment held a significant CAGR of e of 32.35% over the forecast period. The growth of ABS technology is due to the aggressive efforts of several automobile groups toward the mandated deployment of ABS in key regions.

The Traction Control System (TCS) segment is expected to witness significant growth of CAGR of 6.63%. The TCS technology provides added safety by ensuring traction in difficult driving conditions. TCS is generally used with an anti-lock braking system for efficient work. Traction control stops the wheel spin by applying brake pressure by ABS and controlling the throttle. As a result, automakers could acquire a better New Car Assessment Program (NCAP) rating for a car by including advanced braking systems.

Regional Insights

Asia Pacific dominated the market with the largest revenue share of 59% in 2023. Due to the availability of low-cost labor and raw materials, regional firms offer significant cost savings. Furthermore, countries such as China and India, among others, are the automotive manufacturing hub. The rising popularity of automotive brake systems and increased sales of luxury and premium automobiles are expected to drive market growth. Moreover, the increasing number of accidents and the surge in automobile sales contribute to the overall market growth.

North America is expected to grow at the fastest CAGR of 5.73% during the forecast period. The growing desire for better performance of vehicles in adverse weather, the presence of major car manufacturers, and growth in the supply of light commercial vehicles and passenger cars have driven the expansion of the market in this region. Furthermore, since 2018, the mandated installation of ESC technology in all light cars has driven regional market growth.

Automotive Brake System Market Key Companies

• AKEBONO BRAKE INDUSTRY CO., LTD.
• ZF Friedrichshafen AG
• ADVICS CO.,LTD.
• Hitachi Astemo, Ltd.
• Brembo S.p.A
• Robert Bosch GmbH
• AISIN CORPORATION
• Haldex
• The Web Co
• NISSIN KOGYO Co., Ltd

Automotive Brake System Market Segmentation:

By Type

• Disc Brakes
• Drum Brakes

By Vehicle Type

• Passenger Cars
• Commercial Vehicles

By Technology

• Anti-Lock Brake System (ABS)
• Traction Control System (TCS)
• Electronic Stability Control (ESC)
• Electronic Brake-Force Distribution (EBD)

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa