Global Brake system Market to reach USD 28.23 Billion by 2027.Global Brake system Market is valued approximately at USD 20.06 Billion in 2020 and is anticipated to grow with a healthy growth rate of more than 5.0% over the forecast period 2021-2027. Brake system is a kind of mechanical or electrical device which enables the vehicle to slow down or to stop according to requirement of the driver. The global Brake system market is being driven by increase in sales & production of commercial vehicles and off-highway truck and increase in stringency of automotive active safety regulations. Furthermore, regenerative braking to create lucrative growth in EV ecosystem and integration of ACC in electronic braking systems will provide new opportunities for the global Brake system industry. For instance, according to the report of International Organization of Motor Vehicle Manufacturers (OICA), in year 2019, the worldwide sales of commercial vehicles was 27 million units, which represents a growth of around 3.8% as compared to 2018. Also, by September 2022, the U.S. Department of Transportation's National Highway Traffic Safety Administration (NHTSA) and Insurance Institute for Highway Safety (U.S.), with 20 other vehicle manufacturers, announced the adoption of the standard feature as automatic emergency braking (AEB) system in all new cars. As a result, increase in sales & production of commercial vehicles and off-highway trucks and rising stringency of automotive active safety regulations will serve as a catalyst for the Brake system industry in the future. However, high development and maintenance costs may impede market growth over the forecast period of 2021-2027.

Asia Pacific, North America, Europe, Latin America, and Rest of the World are the key region considered for the regional analysis of global brake system market. The rising adaptation of advance electronic braking system such as ESC, ABS and TCS as well as growth in collaboration between various local players the Asia Pacific the leading region across the world in terms of market share. Whereas Asia Pacific is also anticipated to exhibit the highest growth rate over the forecast period 2021-2027, due to increasing sales of premium and luxury vehicles in the region.
Major market player included in this report are:

Robert Bosch GmbH
Continental AG
ZF Friedrichshafen AG
Akebono Brake Industry Co., Ltd.
Brembo S.P.A
Aisin Seiki Co., Ltd.
Hitachi Astemo Ltd
Knorr-Bremse Ag
Haldex AB
Mando Corporation

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Brake Type:
Disc Brake
Drum Brake
By Technology:
Anti-lock brake system
Electronic stability control
Traction Control system
Electronic Brakeforce distribution
By Vehicle Type:
Passenger car
Light commercial vehicle
Truck
Bus

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027.

Target Audience of the Global Brake system Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors