The global automotive brake system market was valued at USD 47.75 billion in 2022 and is anticipated to reach USD 72.70 billion by 2030, growing at a CAGR of 5.5% from 2023 to 2030. The rising demand for passenger and commercial vehicles in emerging economies like India and China is a major driver of this market expansion.
Additionally, stringent safety regulations, growing adoption of luxury vehicles, and increasing use of disc brakes in commercial vehicles are fueling market growth. Since brake components have a limited operational lifespan, the replacement market is also seeing increased activity.
Growing concerns over road traffic accidents and fatalities are encouraging manufacturers to integrate advanced safety systems. The market is further bolstered by regulatory bodies and government mandates on vehicle safety. For example, the National Highway Traffic Safety Administration (NHTSA), a division of the U.S. Department of Transportation, announced in 2022 its intent to mandate automatic emergency braking in vehicles.
Furthermore, ongoing innovation and R&D efforts aimed at developing new technologies and improved braking systems are supporting market growth. The increasing adoption of electric vehicles and the industry's focus on autonomous driving technologies are also expected to create additional commercial opportunities for manufacturers in the years ahead.
Key Market Trends & Insights
Asia Pacific led the global market in 2022, accounting for the largest revenue share of 58.1%. Cost advantages from affordable labor and raw materials, as well as the strong presence of automotive manufacturing hubs like China and India, contribute significantly to the region’s market dominance. Rising luxury car sales and the adoption of advanced brake systems are further propelling growth.
By type, disc brakes accounted for 61.1% of the market in 2022. The segment's growth is attributed to disc brakes' superior performance under adverse conditions and their compatibility with advanced safety technologies.
By vehicle type, passenger cars dominated the market with a revenue share of 72.5% in 2022. Factors such as urbanization, rising disposable income, and population growth are driving this trend. The increasing integration of ADAS (Advanced Driver Assistance Systems) is also a key contributor to the segment’s dominance.
By technology, Electronic Stability Control (ESC) led the market with a 32.6% revenue share in 2022. ESC technology is increasingly adopted due to its effectiveness in helping drivers regain control during emergency situations, which supports market growth over the forecast period.
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Market Size & Forecast
2022 Market Size: USD 47.75 Billion
2030 Projected Market Size: USD 72.70 Billion
CAGR (2023-2030): 5.5%
Asia Pacific: Largest market in 2022
North America: Fastest growing market
Key Companies & Market Share Insights
Major industry players are focused on developing reliable, eco-friendly, and durable braking systems. Significant investments in R&D aim to foster innovation and introduce next-generation technologies. Companies are also working to expand geographically and increase production capacity.
For example, in April 2020, Veoneer entered into a preliminary agreement to transfer its U.S. braking control business to ZF Friedrichshafen AG, aiming to enhance its global market presence. Moreover, many manufacturers are tapping into the aftermarket segment, which presents strong growth opportunities.
Ferdinand Bilstein GmbH Co. KG is a notable player in the aftermarket, serving over 170 countries. The company provides high-quality brake components for commercial vehicles, tailored to diverse vehicle loads and performance requirements.
Key Players
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
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Conclusion
The automotive brake system market is set to experience steady growth through 2030, driven by increasing vehicle production, stricter safety standards, and rising demand for advanced braking technologies. The dominance of the Asia Pacific region, particularly due to manufacturing capabilities and market size, is expected to continue, while North America emerges as a high-growth market. Technological advancements, particularly in electronic stability control and disc brakes, are shaping the future of the industry. Additionally, opportunities in the replacement and aftermarket sectors provide further momentum, making the market attractive for both existing and new industry players.