Wilmington, Delaware, United States, Feb. 22, 2024 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. -The global automotive braking component market is estimated to surge at a CAGR of 4.0% from 2023 to 2031. Transparency Market Research projects that the overall sales revenue for automotive braking component is estimated to reach US$ 68.3 billion by the end of 2031. The integration of braking systems with connected vehicle technologies is gaining prominence. Enhanced communication between braking components and vehicle systems optimizes performance, safety, and efficiency.
Unexplored materials, such as advanced composites and alloys, are quietly revolutionizing braking components. These materials offer improved strength, reduced weight, and enhanced heat dissipation, addressing performance and efficiency concerns. The rise of autonomous vehicles introduces novel challenges, pushing braking component manufacturers to develop systems capable of responding to complex algorithms and sensor inputs for seamless integration into autonomous driving platforms.
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Some prominent players are as follows:
- AISIN CORPORATION
- American Axle & Manufacturing Inc.
- ams-OSRAM AG
- EXEDY Globalparts Corporation
- JMT Auto Limited
- Lavacast
- Linamar Corporation
- LMB Euroseals (PTY) LTD
- Platinum Driveline
- Schaeffler AG
- Tilton Engineering
- Valeo
- ZF Friedrichshafen AG
The adoption of intelligent sensors for real-time brake monitoring is a pivotal driver. These sensors provide data on wear, temperature, and performance, enabling proactive maintenance and enhancing overall system reliability. Manufacturers are increasingly focusing on environmentally friendly brake solutions, exploring eco-friendly materials and technologies to minimize the environmental footprint of braking component production and usage.
Key Findings of the Market Report
- Fixed calipers lead the automotive braking component market segment, offering superior performance and precision compared to floating calipers in braking systems.
- Among Leading and semi-trailing brake shoe segments, leading brake shoes lead the automotive braking component market due to superior braking performance.
- Stainless steel brake lines lead the automotive braking component market due to their durability, corrosion resistance, and superior performance compared to rubber.
Automotive Braking Component Market Growth Drivers & Trends
- Advancements in anti-lock braking systems (ABS) and electronic brake systems drive market growth, meeting rising safety regulations and consumer demands.
- Increasing electric vehicle adoption propels demand for regenerative braking systems, contributing to the market's expansion.
- Growing emphasis on environmental sustainability fuels the development of efficient braking components, aligning with global emission standards and regulations.
- Booming automotive industries in Asia Pacific and other regions generate heightened demand for braking components, reflecting the industry's growth trajectory.
- Surging demand for replacement parts and upgrades in the aftermarket sector further stimulates the automotive braking component market, creating avenues for sustained growth.
Global Automotive Braking Component Market: Regional Profile
- In North America, stringent safety regulations and consumer preference for advanced braking technologies drive market growth. Leading players such as Bosch and Akebono Brake Industry dominate, offering cutting-edge solutions tailored to the region's demanding standards.
- Europe, renowned for its automotive engineering prowess, serves as a hub for innovation in braking technology. Companies like Continental AG and Brembo S.p.A. lead the charge, catering to the region's emphasis on performance and precision. Stringent emission norms and increasing electric vehicle adoption propel demand for regenerative braking systems, fostering technological advancements.
- Asia Pacific emerges as a dynamic market fueled by rapid industrialization and urbanization. With rising vehicle production and expanding automotive aftermarket, the region experiences robust demand for braking components. Key players including Nissin Kogyo Co., Ltd. and ZF Friedrichshafen AG capitalize on the region's diverse automotive landscape, offering tailored solutions for mainstream and luxury segments alike.
Automotive Braking Component Market: Competitive Landscape
In the automotive braking component market, innovation and quality reign supreme. Major players such as Bosch, Continental AG, and ZF Friedrichshafen dominate, leveraging advanced technology to deliver superior braking solutions.
Their extensive R&D investments fuel advancements in anti-lock braking systems (ABS), brake pads, discs, and calipers, setting industry standards for safety and performance.
Regional players like Akebono Brake Industry and Brembo S.p.A. offer specialized expertise and niche solutions, intensifying competition. Emerging market entrants continually disrupt the landscape with innovative materials and manufacturing processes.
As consumer demands evolve towards efficiency and sustainability, the race for market share intensifies, fostering dynamic growth and evolution.
Product Portfolio
- Lavacast ignites innovation in casting technology, crafting high-quality metal components with unparalleled precision. From intricate designs to robust structures, their expertise ensures durability and performance in every product, revolutionizing industries with superior casting solutions.
- Linamar Corporation stands as a beacon of automotive excellence, delivering cutting-edge powertrain solutions and precision components worldwide. With a commitment to innovation and quality, they empower mobility with advanced engineering, driving the future of transportation forward with unmatched reliability and performance.
Automotive Braking Component Market: Key Segments
By Brake Caliper
- Floating Calipers
- Fixed Calipers
By Brake Shoe
- Leading
- Semi-trailing
By Brake Line
- Rubber
- Stainless Steel
By Brake Pad
- Metal
- Ceramic
- Organic
By Brake Rotor Material
- Cast Iron
- Carbon Ceramic
By Sales Channel
- Original Equipment Manufacturer (OEM)
- Aftermarket
By Vehicle Type
- Passenger Vehicles
- Light Commercial Vehicles
By Region
- North America
- South America
- Asia Pacific
- Europe
- Middle East & Africa
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