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Automotive Brake System Market worth $38.48 Bn, Globally, by 2026 at 7.5% CAGR: Allied Market Research

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Allied Market Research

22 Oct, 2020, 13:00 GMT

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Increase in demand for safety features in automobiles, technological advancements in safety features, and stringent government mandates for vehicles safety drive the growth of the global automotive brake system market

PORTLAND, Ore., Oct. 22, 2020 /PRNewswire/ -- Allied Market Research published a report titled, "Automotive Brake System Market by Type (Disc and Drum), Technology (Antilock Braking System (ABS), Traction Control System (TCS), Electronic Stability Control (ESC), and Electronic Brake Force Distribution (EBD)), Vehicle Type (Passenger ICE Vehicle, Commercial ICE Vehicle, and Electric Vehicle), and Sales Channel (OEM and Aftermarket): Global Opportunity Analysis and Industry Forecast, 2019–2026." According to the report, the global automotive brake system industry was estimated at $22.03 billion in 2018, and is expected to hit $38.48 billion by 2026, registering a CAGR of 7.5% from 2019 to 2026.

Download Report Sample (305 Pages PDF): https://www.alliedmarketresearch.com/request-sample/6377

Drivers, restraints, and opportunities-

Rise in demand for safety features in automobiles, technological advancements in safety features, and stringent government mandates for vehicles safety drive the growth of the global automotive brake system market. On the other hand, high installation and maintenance cost hamper the growth of the market. Nevertheless, development of advanced braking systems for two wheelers and expansion in untapped market of developing countries are expected to create lucrative opportunities in the near future.

COVID-19 scenario-

  • The global lockdown forced the companies in automotive sector to suspend the production at factories.
  • According to India Ratings and Research, the global dependency on China for major automobiles and parts would be affected as China is the epicenter of the outbreak and major manufacturing hub of automobiles and auto parts.
  • The global pandemic has also affected the global supply chain in automobile sector and companies have witnessed a major decrease in the sales.

Get Detailed COVID-19 Impact Analysis on the Automotive Brake System Market Request Here!

The drum segment to maintain the lion's share by 2026-

Based on type, the drum segment contributed to nearly three-fifths of the global automotive brake system market revenue in 2018, and is expected to retain its dominance by the end of 2026. In addition, the segment would register the fastest CAGR of 8.2% throughout the forecast period. Drum brake provides more braking force and have increased friction contact area than disc brakes which drives the growth of the market.

The aftermarket segment to dominate during the estimated period-

Based on sales channel, the aftermarket segment accounted for more than half of the global automotive brake system market share in 2018, and is anticipated to rule the roost during the study period. In addition, the segment is anticipated to manifest the fastest CAGR of 8.0% from 2019 to 2026. The continuous improvement and innovation in the automotive end user attracts a wide range of customers which in turn augments the growth of the segment.

Interested to Procure The Data? Inquire here at https://www.alliedmarketresearch.com/purchase-enquiry/6377

Asia-Pacific to dominate in terms of revenue, North America to grow significantly-

Based on region, Asia-Pacific held the largest share in 2018, garnering more than half of the global automotive brake system market. Furthermore, the region is projected to manifest the fastest CAGR of 8.1% by 2026. Growing demand for safety features, government mandates for safety features makes Asia-Pacific the fastest growing region. On the other hand, North America is anticipated to manifest the CAGR of 6.2% by 2026.

Key Market Players-

  • Autoliv Inc.
  • Continental AG
  • Delphi Technologies
  • Denso Corporation
  • Nissin Kogyo Co., Ltd
  • Robert Bosch GmbH
  • WABCO
  • ZF Friedrichshafen AG
  • Aisin Seiki Co., Ltd.

Schedule a Free Consultation Call with Our Analysts/Industry Experts to Find Solution for Your Business at https://www.alliedmarketresearch.com/connect-to-analyst/6377

Similar Reports: (15% Discount – Limited Offer)

Air Brake System Market 2020-2026: The global air brake system market is segmented based on type, component, vehicle type, and region.

Autonomous Emergency Braking System Market 2020-2023: The automobile collision avoidance system market is segmented based on type, technology, application, and region.

Drive by Wire Market 2020-2026: The global drive by wire market is segmented into application, vehicle type, component and region.

Pre-book Offer 12% Discount:

Brake Systems Market 2020-2026: The global brake systems market is driven by increase in vehicles, use of highly specialized cranes for construction, rise in drilling & exploration of oil & gas, and strict reforms in traffic implementation.

Aircraft Braking System Market 2020-2027: This reports segments the global aircraft braking system market into component, type of brake, fit, and endusers.

Brake Override System Market 2020-2027: The brake override system market is segmented on the basis of sensor technology, vehicle type, and geography.

About Allied Market Research

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.

Contact us:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free (USA/Canada): 1-800-792-5285, 1-503-894-6022, 1-503-446-1141
UK: +44-845-528-1300
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help@alliedmarketresearch.com

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