North America Brake System Market Report and Forecast 2024-2032

North America Brake System Market Size

The North America brake system market size attained a value of USD 11.35 billion in 2023. The market is further expected to grow at a CAGR of 4.10% between 2024 and 2032, to reach a value of USD 16.32 billion by 2032.

Key Trends in the Market

A brake system is the combination of automotive components which resist the motion of a vehicle, bringing it to a halt. A brake system consists of two curved brake shoes containing a friction material lining which produces friction in order to slow down the vehicle. A static surface is applied to a vehicle’s moving surface, causing friction and subsequently converting kinetic energy to heat energy, slowing down the vehicle movement.

• Increasing incorporation of disc brake technology in commercial vehicles in North America to bolster the safety of emergency trucks, fuel tankers, tour buses, and semi-tractors, among others, is fuelling the North America brake system market growth.

• Emergence of new usage truck models, such as truck-as-a-service, along with truck leasing strategies, is impacting the growth of this market positively. The rising demand for light trucks to facilitate domestic commodity transportation services is further heightening the incorporation of brake systems.

• Efforts by law enforcement agencies and inspection services to examine vehicles and reduce road mishaps and accidents are expected to bolster the demand for brake systems to augment vehicular safety. In addition, the growing focus on anti-lock braking systems are crucial trends in the North America brake system market.

• The increasing application of brake systems in construction equipment is adding to the market revenue. Over the forecast period, the increasing expenditure towards construction and use of larger construction equipment are expected to heighten the demand for brake systems for construction equipment.

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North America Brake System Market Analysis

Based on product type, the market is segmented into disc brake, hydrostatic brake, hydraulic wet brake, and regenerative and dynamic brake, among others. On the basis of end user, the market is classified into automotive, construction equipment, agriculture equipment, industrial truck, and mining equipment. By distribution channel, the market is bifurcated into original equipment manufacturer (OEM) and aftermarket. The regional markets for brake systems in North America are the United States and Canada.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the North America brake system market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

• Brembo S.P.A.

• Rassini. S.A.B. de C.V. (Formerly Sanluis Corporation)

• Mando Corporation

• The New York Brake Corporation (Knorr – Bremse)

• Haldex AB

• BorgWarner Inc.

• Others

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Market Share by Product Type

The disc brake segment, based on product type, accounts for a healthy share of the North America brake system market. This can be attributed to the presence of local suppliers in the region which manufacture high-quality hydraulic brakes capable of performing outdoor and heavy duty breaking functions. Disc brakes are considered to be among the only types of brakes that are used in front wheels but can be used in all four wheels as well. The advantages offered by this type of brake, such as greater braking power, operability in wet and muddy conditions, and higher responsiveness compared to counterparts, is heightening its incorporation in passenger and commercial vehicles in North America, leading to an accelerated growth of this segment.

Market Share by End User

Based on end user, the automotive segment accounts for a significant share in the North America brake system market. With the vast distances in the region, there is a key demand for automotives for daily travelling and commute, particularly in countries like the United States. The growing automotive component sales, triggered by frequent servicing of automobiles and increasing expansion of auto-related small businesses, is fuelling the growth of this segment. Rising demand for all-terrain vehicles across North America is further enhancing the incorporation of brake systems, thereby, adding in the North America brake system market revenue. The increasing sale of light trucks across the United States is likely to bolster the segment’s growth in the forecast period.

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Competitive Landscape of North America Brake System Industry

Brembo S.P.A. is a leading innovator and provider of braking technology for automotive vehicles. The company develops and markets high-performance braking systems for both commercial and passenger cars and motorbikes, with operations in several countries. Brembo was founded in 1961 and is currently headquartered in Curno, Italy, and its brands include AP Racing, Bybre, Breco, Marchesini, SBS Friction, and J.Juan.

Rassini. S.A.B. de C.V. (Formerly Sanluis Corporation) is a prominent designer and manufacturer of suspension and brake components that cater to the demands of the automotive industry. The product portfolio of this company includes multileaf springs, rotors, discs, drums, motor balancers, and hubs, among others. It was established in 1976 and is headquartered in Coahuila, Mexico.

Mando Corporation is one of the world’s largest suppliers and manufacturers of original equipment to major automotive companies such as Chevrolet, Ford, and Chrysler, among others. The company specialises in auto parts that are central to the safety of vehicles, including brake systems, suspensions, and steering. It was founded in 1962 and is headquartered in Seongnam-si, South Korea.

Other market players include The New York Brake Corporation (Knorr – Bremse), Haldex AB, and BorgWarner Inc., among others.

Key Highlights of the Report