Farmington, March 17, 2023 (GLOBE NEWSWIRE) -- The Global Modular Brake System Market Is Projected To Grow At A CAGR Of 6.5% During The Forecast Period From 2022 To 2030. A car with a modular braking system uses several smaller braking systems to stop. Most large cars, like trucks, buses, and trailers, use this kind of system. With a modular brake system, you can put brakes of different sizes on each axle to improve stopping power and speed. This brake system is also easy to keep up and fix. If one part of the brake fails, only that part needs to be changed, not the whole brake system.
Request Sample Copy of Report “Modular Brake System Market - Global Industry Analysis, Size, Share, Growth Opportunities, Future Trends, Covid-19 Impact, SWOT Analysis, Competition and Forecasts 2022 to 2030”, published by Contrive Datum Insights.
Modular Brake System Market Recent Developments:
- In July 2019, Continental and Knorr-Bremse entered into a partnership to enable highly automated commercial vehicle driving for autonomous platooning (i.e. platooning). The partners showed this Platooning Demonstrator which driving features they could co-develop with automakers for use in autonomous driving. This includes formation, driving together, emergency braking functions, individual vehicle exits, and the safe splitting of entire platoons.
- In March 2020, ZF introduced the industry's first front electric parking brake, extending the range of electric parking brake (EPB) systems to a wider range of vehicles. With this solution, automakers can now equip small vehicles with advanced braking systems and design their interiors without the classic handbrake lever or parking brake pedal.
- In November 2020, the product portfolio of TRW (ZF's aftermarket brand) for the independent aftermarket was further expanded in the area of two-piece brake discs. These brake discs are now also available for various Mercedes-Benz C-Class and E-Class models. Further references to the S-Class and GLC models from the Stuttgart-based premium manufacturer will follow in mid-2021.
- In June 2018, Sugon Brake Industry Co., Ltd. developed the world's first "new structure brake caliper". The new brake caliper is based on the structure of the existing product AD-type disc brake, which has been extensively modified to meet the specific requirements of cars using electric power and to be more environmentally friendly.
Modular Brake System Market Dynamics:
Growth Factors:
Increasing Demand for Lighter Vehicles: The global trend toward making vehicles smaller and lighter is likely to drive the demand for modular braking systems, which are lighter and more compact than traditional stopping systems. Electric cars are becoming more and more popular: Electric cars need a different kind of stopping system that works well with the high-voltage electrical parts they have. Modular stopping systems work well for this purpose and are likely to become popular in the market for electric vehicles (EVs).
The spread of self-driving technology: As self-driving technology becomes more popular, there will be a greater need for reliable braking systems that can handle the difficult task of stopping safely without human help. Modular braking systems work well for this purpose and are likely to grow quickly over the next few years.
Regional Outlook:
In 2019, the Asia-Pacific area made the most money on the world market, with a share of over 40.0%. This is because more cars and trucks are being sold, especially in countries like India and China that are still growing. Also, more luxury vehicles are being made because there is more demand for them. This is also driving the need for modular brakes in the area.
Europe is expected to be the second largest market by 2019, thanks to high demand in countries like Germany, France, Italy, and Spain, where making cars is a big business, and more attention to safety rules. In this whole area, growth is driven by strict rules. North America had a big share because the United States put more focus on fuel economy and stricter rules for controlling emissions.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | 6.5% from 2023 to 2030 |
| By Type |
|
| By Applications |
|
| By Companies | WABCO, Knorr-Bremse, Parker Hannifin, Hilliard Corporation, SAE International, Twiflex Limited, MICO, Inc., and Others |
| Base Year | 2022 |
| Historical Year | 2017 to 2021 |
| Forecast Year | 2023 to 2030 |
Modular Brake System Market Key Segments Covered:
Top Market Players:
WABCO, Knorr-Bremse, Parker Hannifin, Hilliard Corporation, SAE International, Twiflex Limited, MICO, Inc., and Others.
Modular Brake System Market by Types:
- Hydraulic Brake Systems
- Disc Brake Systems
Modular Brake System Market by Applications:
- Passenger Vehicle
- Light Commercial Vehicle
- Heavy Commercial Vehicle
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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