Global Secondary Braking System Market was valued at USD 1.2 Billion in 2022 and is projected to reach USD 1.9 Billion by 2030, growing at a CAGR of 7.6% from 2024 to 2030.
The Global secondary braking system market is experiencing steady growth due to the increasing adoption of advanced braking technologies in various transportation sectors. These systems are designed to complement primary braking systems, providing additional safety, improved vehicle control, and enhanced braking performance. The growing demand for electric and hybrid vehicles, along with stringent safety regulations worldwide, is driving market expansion. Additionally, technological advancements in secondary braking systems, such as air disc brakes and regenerative braking systems, are expected to further boost market growth. Manufacturers are focusing on developing lightweight and energy-efficient solutions to meet the evolving needs of the automotive and commercial vehicle industries. These factors, combined with increasing consumer awareness of safety features, contribute to the growing market demand for secondary braking systems across different vehicle categories.
In terms of opportunities, the market for secondary braking systems is likely to expand with the rise of autonomous and connected vehicles, which require enhanced braking performance to ensure safety in dynamic driving conditions. The growth of the electric vehicle market, coupled with innovations in braking technologies, presents substantial opportunities for manufacturers to develop more efficient and cost-effective braking solutions. Additionally, the growing focus on reducing vehicle weight and improving fuel efficiency is expected to drive the demand for advanced braking systems. Emerging economies, particularly in the Asia Pacific region, offer significant growth potential due to increased vehicle production and a rising focus on improving road safety. Furthermore, collaborations between automotive OEMs and braking system manufacturers to enhance system integration and performance are expected to create new market opportunities in the coming years.
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Kendrion NV
Oriental Motor
Huco Dynatork
ABB
Boston Gear
INTORQ
Ogura Industrial
Formsprag Clutch
Dayton Superior Products
Electroid Company
GKN Stromag
Hilliard
STEKI
KEB America
Lenze
Magnetic Technologies
Magtrol
Placid Industries
Redex Andantex
Telma S.A.
Frenelsa
Voith
ZF
Shaanxi Fast Auto
Sumitomo Electric
Ford Trucks
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Gloabl Secondary Braking System Market
Mechanical
Hydraulic
Electronic
Electro-hydraulic
Automotive
Railways
Aerospace
Marine
Industrial
Brakes
Actuators
Control Units
Sensors
ABS (Anti-lock Braking System)
ESC (Electronic Stability Control)
Traction Control System
OEMs (Original Equipment Manufacturers)
Aftermarket
US (Global, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Gloabl Secondary Braking System Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Gloabl Secondary Braking System Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Gloabl Secondary Braking System Market, By Type
6. Gloabl Secondary Braking System Market, By Application
7. Gloabl Secondary Braking System Market, By Geography
North America
Europe
Asia Pacific
Rest of the World
8. Gloabl Secondary Braking System Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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