There is always a high demand and an emphasis in the emerging automobile industry for such vehicles with security and decent speed. To ensure safety and security, brakes play the most important part of a vehicle. Basically, the main focus of brakes is to control the increasing speed of a vehicle and that sets it on high demand always in the global automotive brake system market and developing automobile industry. For slowing down the speed of a vehicle, a brake has several components that consist of master cylinder, brake booster, rotor, brake pads, piston, brake shoes, calliper, and brake drum.
Dynamics of Global Automotive Brake System Market
Future Market Insights (FMI) is evolving a comprehensive research analysis that will forecast the global automotive brake system market. This study has analyzed a wide range of factors that drives the adoption of automotive brake system globally. Robust demand for vehicle production in the automotive sector is observed to remain as the key driver for growth of global automotive brake system market through 2025. Besides, the government has taken up some initiatives for the development of transport safety and security which will drive the demand for automotive brake system globally. On the contrary, the higher price of the latest technology Electronic Brake Systems (EBS) than the previous Hydraulic brakes will threaten its global market.
Segmentation of Global Automotive Brake System Market
The on-going FMI report is analyzed and forecasting the expansion of global automotive brake system market on the basis of product types, their applications and technologies. Depends upon the product types, automotive brake system has two segmentations such as, drum brakes and disk brakes. Based on this product’s application, global automotive brake system market is sectioned into three parts includes, light commercial vehicles (LCV), two-wheeler motor vehicles and passenger car vehicles. Lastly, in order to technological standpoint, it has four main segments that comprises of electronic stability control (ESC), traction control system (TCS) & anti-lock braking system (ABS) and all of them are parts of the electronic braking systems (EBS).
Regional Stance and Key Players
Through the forecast period 2015-2025, global automotive brake system market is expecting an extensive regional analysis. The demand for automotive brake system in Asia Pacific region is estimated to be observed the highest traction. With the increasing utilization of passenger cars and commercial vehicles in China, South Korea & India marketplaces, it is predicted to drive the expansion of Asian automotive brake system market. In respect to highest revenue contribution, the report has estimated China as the largest revenue contributor throughout the forecast period. After North America, it is Europe that is expected to be the second largest market in global automotive brake system market.
This on-going analysis from FMI has enlisted some of the popular companies includes, Akebono Brake Industry Co. Ltd., Aisin-Seiki Co. Ltd., TRW Automotive Holdings Corp., Brembo S.P.A., Halla Mando Corp., Continental AG and among others as the dominating and key participants in global automotive brake system market.
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