Brakes form an integral part of an integral part of an automotive system. The pressure applied by these systems on the wheels of a vehicle slow down or impede the motion of a moving vehicle.
The global brake system market is projected to grow at a significant CAGR during the forecast period, 2017-2025. The report, titled "Global Brake System Market- Size, Trend, Share, and Opportunity Analysis & Forecast, 2014-2025", added by Progressive Markets provides a detailed analysis of the market and the factors that drive or impede the growth of the industry.
The data presented in the report is acquired from extensive research of the market carried out by research analysts and core industry experts. Vital brake system industry statistics, elaborate figures, and tables are included to add integrity to the information provided.
Brake systems convert the kinetic energy into thermal energy. The components of a brake system include piston brake drum, brake pads, rotor, brake shoes, caliper, and brake booster.
The selection of appropriate brake systems depends on the type of vehicle, the maximum torque generated, and several other factors.
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Drivers, Restraints, & Opportunities:
Numerous factors contribute to the growth and development of the brake system market. The significant growth of the market can be attributed to the rapid expansion of the automotive industry, leading to a rise in the number of vehicles manufactured.
Strict regulations and mandates imposed by the government on the automotive industry, with an aim to improve vehicle safety, fuel the need for advanced brake systems. However, the lack of awareness and low penetration of advanced braking systems in the global market, restrict the industry's growth.
In addition, the high cost of Electronic brake systems (EBS) acts as a major obstacle to the expansion of the brake system industry.
Brake System Market Key Segments:
The brake system market analysis is carried across four major market segments, categorized by product type, application, technology, and the geography. The basic classification of brakes based on their type include disc brakes and drum brakes.
These brakes find applications in two-wheeler motor vehicles, passenger car vehicles, and light commercial vehicles (LCV). Based on the technology, the market is further bifurcated into anti-lock braking system (ABS), electronic braking system (EBS), and traction control system (TCS).
The report analyzes the presence of the brake system industry across the regions of Asia-Pacific, Europe, North America, and LAMEA. The brake system market shares analysis is provided for each of the mentioned market segments.
The brake system market outlook profiles the prominent players in the market and includes key information such as the company overview, financials, and business segments, and the recent developments in the market. TRW Automotive Holdings Corp, Aisin-Seiki Co.
Ltd, Continental AG, Akebono Brake Industry Co. Ltd, Brembo S.P.A., Halla Mando Corp, Nissin Kogyo Co, Ltd, Knorr-Bremse AG, Mando Corporation, and Continental AG are some of the leading players that contribute to the growth of the brake system market size.
New entrants and potential investors can formulate strategic business moves by identifying the key business tactics and winning strategies adopted by the key players to expand their reach in the market.
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Key Benefits of the Report:
Qualitative and quantitative analysis of the current market, included in the brake system market report, highlights the prevailing growth opportunities and provides critical insights into the current and emerging brake system market trends. The study encompasses crucial data such as the top impacting market factors, their impact analysis, value chain analysis, brake system market size and share, and Porter's Five Forces Analysis among others.
Porter's Model analyzes the influence of the major decisive factors on the market dynamics.
It identifies the potency of buyers and suppliers in the market and provides competitive intelligence that assists organizations in making informed decisions. Competitive intelligence helps in gauging the intensity of competitive rivalry across the geographies.
The brake system market forecast is made by closely following key product positioning and observing the top contenders within the framework of the industry.
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