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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Brake System Market Regional Analysis
The Asia Pacific Accounts for a Significant Share in the Market
The thriving automobile sector in the Asia Pacific, especially in countries like India, China, Japan, and South Korea, is the major driving factor for the expansion of the brake system industry in the region. The market is also expected to be augmented by the growing popularity of electric cars, coupled with the rising disposable incomes and rising population in emerging economies. In India, the commercial car segment is anticipated to generate a healthy demand for brake systems, owing to the rising demand for cab services.
Brake System Market Report Snapshots
Brake System Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The global brake system market is estimated to grow at a CAGR of 7% during 2024-2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 85.83 billion by 2032.
The major drivers of the market include the growing end-use of brake systems in various industries including automotive, construction equipment, agriculture equipment, and industrial trucks, rising awareness about road safety, and increasing demand for passenger and commercial cars.
The key trends guiding the growth of the market include the technological advancements in the automotive industry in order to enhance the safety for the consumers and the growing mechanisations in downstream industries.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
Disc brake, drum brake, hydrostatic brake, hydraulic wet brake, and regenerative and dynamic brake are the various product types in the market.
Automotive, construction equipment, agriculture equipment, industrial truck, and mining equipment are the leading end uses of braking system in the market.
Original equipment manufacturer (OEM) and aftermarket are the significant distribution channels of braking system in the market.
The key players in the global brake system market are Aisin Seiki Co., Ltd., Brembo S.P.A., Continental AG, BorgWarner Inc., Hitachi Astemo, Ltd., Knorr-Bremse AG, and Nissin Kogyo Co, Ltd., among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124