Brake System Market by Type (Disc, Drum), Technology (ABS, ESC, TCS, EBD), On & Off-Highway Vehicle (Passenger Car, LCV, HCV, Construction-Mining, Tractor, ATV), OHV Brake (Hydraulic Wet, Hydrostatic, Dynamic), Actuation and Region - Global Forecast to 2027
Brake System Market by Type (Disc, Drum), Technology (ABS, ESC, TCS, EBD), On & Off-Highway Vehicle (Passenger Car, LCV, HCV, Construction-Mining, Tractor, ATV), OHV Brake (Hydraulic Wet, Hydrostatic, Dynamic), Actuation and Region - Global Forecast to 2027
Abstract
The brake system market is projected to reach USD 28.1 billion by 2027 from an estimated USD 22.2 billion in 2022, at a CAGR of 4.8% during the forecast period. Various governments globally are implementing safety standards by making safety features such as ABS, ESC, TCS, and EBD mandatory in vehicles. This has strongly driven the electronic brake system market. This demand would further fuelled by the growing popularity of high-end and luxury cars.
Countries such as India, China, Brazil, Mexico, and Argentina focus on enhanced automotive safety standards. However, the high maintenance and repair costs can hinder market growth, especially in developing countries.
“The hydraulic brake is expected to be the largest market, by actuation.”
The growth in the production of passenger cars and light commercial vehicles (LCV) is driving the growth of hydraulic brake systems. Advantages such as better heat dissipation than mechanical brakes, better braking power transmission, compact size, and ease of repair due to the readily available brake parts in the aftermarket are instrumental in increasing the penetration of hydraulic brake systems. As the hydraulic brake market is directly linked to the production of passenger cars and LCVs, China, Japan and India are the largest markets for hydraulic brakes. Also, North America and Europe have a significant presence in hydraulic brakes. Still, as the local automobile OEMs outsource their manufacturing to developing countries, the brake products aftermarket is expected to showcase promising growth in these developing regions.
“Passenger Car, brake systems market, would be the fastest-growing market.”
Passenger cars contribute to more than 60% of global vehicle production; hence, the segment has the leading demand for brakes. Passenger cars employ two braking systems: service brakes and parking brakes. The market for passenger car brakes is mainly driven by increased production owing to increased personal use cars and ride sharing and government safety mandates. Although advanced brakes are popular in Europe and North America, the increasing penetration of such brakes in Asia Pacific is expected to boost the brake system market.
Many countries in Asia Pacific are adopting regulations that requires use of electronic brake system to be compulsorily installed on new vehicles. In April 2019, the Ministry of Road Transport & Highways of India under Bharat NCAP, announced that India will have safety braking features such as electronic stability control and autonomous braking as mandatory features on passenger cars by 2023. The stringency in passenger vehicle safety regulations is projected to increase the adoption of advanced brake systems. Passenger cars in Europe and North America already have significant penetration of advanced brake systems, and this penetration rate is expected to increase in the coming years.
“North America will continue to lead the ATV brake system market in coming years.”
The growing popularity of sports/recreational activities, increasing use in farms, and rising number of off-road sports events/championships would drive the global ATV market. This growth in ATVs globally would create opportunities for the ATV brake system market. Australia is the leading market for ATVs in the Asia Pacific; Utility ATVs are the most used ATVs in the Asia Pacific. As most ATVs in Asia Pacific uses drum brakes, the market for ATV drum brake system would be the largest in Asia Pacific.
On the other hand, North America contributes to more than 60% of the global ATV brake system market as it it is the largest ATV market in the world. Factors such as large forests, the prevalence of recreational sports, and use in military and agriculture are instrumental in higher market share of North America in ATV Market. Hence, North America would remain a major ATV brake system market in the forecast period.
“Asia Pacific would register the highest growth in on adoption of electronic advanced brake system during the forecast period”
Asia Pacific has emerged as the largest hub for vehicle production in recent years due to growth in favorable incentives by local governments, growing domestic market, and cost advantages for local automobile OEMs. Manufacturers such as BMW Motors (Germany) and Volkswagen AG (Germany) have already set up their manufacturing units in these countries on a large scale. The rise in automotive production is driving the automotive brake systems market in the region. As of 2022, drum-drum and disc-disc combination is popular with the automobile manufacturers in the region. But with changing preferences of customers in the region, the market for luxury and sports vehicles is growing which is projected to contribute in growth of disc-disc brake combination.
Companies such as Aisin Seiki Co., Ltd. (Japan), Akebono Brake Corporation (Japan), Mando Corporation (South Korea), and Hitachi Automotive Systems Ltd. (Japan) have a strong presence in the region. Further, China and India are the largest brake system markets in the Asia Pacific region. In China and India, the market for brake systems is driven by the increasing vehicle production in these two countries coupled with regulatory compliance with the UN agreement on approval and recognition for motor vehicle equipment and parts (ECE-R-13). Japan and South Korea also have a significant penetration of electronic braking systems due to their local regulations which comply with advanced braking system regulations stipulated in the US FMVSS105 and European ECE R13-H guidelines. Thus, with the implementation of stringent safety standards, the demand for brake systems is expected to grow further in the coming years.
In-depth interviews were conducted with Vice-presidents, marketing directors, innovation and technology directors, and executives from various key organizations operating in this market.
•By Company Type: Supply Side- 60%, Demand Side- 40%
•By Designation: C Level - 30%, D Level – 30%, and Others - 40%
•By Region: Asia Pacific- 60%, Europe - 20%, North America - 20%
The brake system market is led by globally established players such as Robert Bosch GmbH (Germany), ZF Friedrichshafen AG (Germany), Continental AG (Germany), Aisin Seiki Co, Ltd. (Japan), Knorr-Bremse AG (Germany), and Brembo S.p.A (Italy), Hitachi Astemo Ltd. (Japan), Mando Corporation (South Korea), Haldex AB (Sweden). The study includes an in-depth competitive analysis of these key players in the brake system market with their company profiles, MnM view of the top five companies, recent developments, and key market strategies.
Research Coverage:
The brake system market is segmented by region (Asia Pacific, Europe, North America, and RoW), vehicle type (passenger car, LCV, truck and bus), brake type (disc brake and drum brake), technology (anti-lock braking system, traction control system, electronic stability control, and electronic brake-force distribution), off-highway application (agricultural tractor, construction equipment and mining equipment), off-highway brake type (hydrostatic brake, hydraulic wet brake, dynamic brake and others), ,actuation (hydraulic and pneumatic), regenerative brake market(BEV and PHEV), and ATV brake system market( Asia Pacific, Europe, North America and RoW)
The study also includes an in-depth competitive analysis of the key players in the market along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market with the information on the closest approximations of the revenue numbers for the overall brake system market and the sub-segments. This report will help stakeholders understand the competitive landscape and gain insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
Content
Table of Contents
1 INTRODUCTION 34
1.1 STUDY OBJECTIVES 34
1.2 MARKET DEFINITION 35
1.2.1 INCLUSIONS & EXCLUSIONS 36
1.3 STUDY SCOPE 37
FIGURE 1 BRAKE SYSTEM MARKET: MARKET SEGMENTATION 37
FIGURE 2 BRAKE SYSTEM MARKET: BY REGION 38
1.4 SUMMARY OF CHANGES 38
2 RESEARCH METHODOLOGY 40
2.1 RESEARCH DATA 40
FIGURE 3 RESEARCH DESIGN 40
FIGURE 4 RESEARCH METHODOLOGY MODEL 41
2.1.1 SECONDARY DATA 41
2.1.1.1 List of key secondary sources 42
2.1.1.2 Key data from secondary sources 43
2.1.2 PRIMARY DATA 44
FIGURE 5 BREAKDOWN OF PRIMARY INTERVIEWS: BY STAKEHOLDER, DESIGNATION, & REGION 44
2.1.2.1 List of primary participants 45
2.2 MARKET ESTIMATION METHODOLOGY 45
FIGURE 6 RESEARCH METHODOLOGY: HYPOTHESIS BUILDING 46
2.2.1 BOTTOM-UP APPROACH 46
FIGURE 7 BRAKE SYSTEM MARKET SIZE: BOTTOM-UP APPROACH (ON- & OFF-HIGHWAY EQUIPMENT AND REGION) 47
2.2.2 TOP-DOWN APPROACH 47
FIGURE 8 BRAKE SYSTEM MARKET SIZE: TOP-DOWN APPROACH (BY ACTUATION) 47
2.3 DATA TRIANGULATION 48
FIGURE 9 DATA TRIANGULATION METHODOLOGY 48
2.4 RESEARCH ASSUMPTIONS 49
2.4.1 GLOBAL ASSUMPTIONS 49
2.4.2 MARKET ASSUMPTIONS 50
2.5 FACTOR ANALYSIS FOR MARKET SIZING: DEMAND AND SUPPLY SIDES 52
2.6 FACTOR ANALYSIS 53
2.7 RESEARCH LIMITATIONS 53
3 EXECUTIVE SUMMARY 54
3.1 MARKET SCENARIO 54
3.2 REPORT SUMMARY 55
FIGURE 10 BRAKE SYSTEM MARKET: MARKET OUTLOOK 55
FIGURE 11 BRAKE SYSTEM MARKET, BY REGION, 2022 VS. 2027 (USD MILLION) 56
4 PREMIUM INSIGHTS 58
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN BRAKE SYSTEM MARKET 58
FIGURE 12 STRINGENT SAFETY STANDARDS AND GROWING POPULARITY OF DISC BRAKES TO DRIVE MARKET 58
4.2 BRAKE SYSTEM MARKET, BY REGION 59
FIGURE 13 ASIA PACIFIC TO DOMINATE MARKET DURING FORECAST PERIOD 59
4.3 BRAKE SYSTEM MARKET, BY TECHNOLOGY 59
FIGURE 14 ABS SEGMENT ESTIMATED TO HOLD LARGEST MARKET SHARE IN 2022 59
4.4 BRAKE SYSTEM MARKET, BY VEHICLE TYPE 60
FIGURE 15 PASSENGER CAR SEGMENT PROJECTED TO LEAD MARKET DURING FORECAST PERIOD 60
4.5 BRAKE SYSTEM MARKET, BY BRAKE TYPE 60
FIGURE 16 DISC BRAKE SEGMENT PROJECTED TO REGISTER HIGHER CAGR DURING FORECAST PERIOD 60
4.6 OFF-HIGHWAY EQUIPMENT BRAKE SYSTEM MARKET, BY APPLICATION 61
FIGURE 17 AGRICULTURAL EQUIPMENT SEGMENT PROJECTED TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD 61
4.7 OFF-HIGHWAY EQUIPMENT BRAKE SYSTEM MARKET, BY TYPE 61
FIGURE 18 HYDRAULIC WET BRAKE SEGMENT PROJECTED TO LEAD MARKET DURING FORECAST PERIOD 61
4.8 BRAKE SYSTEM MARKET, BY ACTUATION 62
FIGURE 19 PNEUMATIC BRAKE SEGMENT PROJECTED TO REGISTER HIGHER CAGR DURING FORECAST PERIOD 62
4.9 ALL-TERRAIN VEHICLE BRAKE SYSTEM MARKET, BY REGION 62
FIGURE 20 ASIA PACIFIC PROJECTED TO BE FASTEST-GROWING MARKET DURING FORECAST PERIOD 62
4.10 NORTH AMERICA BRAKE FRICTION PRODUCTS AFTERMARKET, BY PRODUCT 63
FIGURE 21 BRAKE DRUM SEGMENT TO WITNESS FASTEST GROWTH DURING FORECAST PERIOD 63
5 MARKET OVERVIEW 64
5.1 INTRODUCTION 64
5.2 MARKET DYNAMICS 65
FIGURE 22 BRAKE SYSTEM MARKET: MARKET DYNAMICS 65
5.2.1 DRIVERS 65
5.2.1.1 Stringent safety regulations 65
5.2.1.1.1 Reduction of required stopping distance for light and heavy-duty vehicles through regulations 65
FIGURE 23 COMPARISON OF STOPPING DISTANCES AT 65 MPH FOR PASSENGER CARS AND TRUCKS IN US 66
FIGURE 24 TOTAL STOPPING DISTANCES FOR PASSENGER CARS AND TRUCKS 66
5.2.1.1.2 Inclusion of advanced brake systems such as ABS and EBD to enhance vehicle safety 66
FIGURE 25 EFFECT OF EBD 67
5.2.1.2 Integration of ACC in electronic braking systems to enhance vehicle handling 67
TABLE 1 VEHICLES WITH ADAPTIVE CRUISE CONTROL 68
FIGURE 26 ANALYSIS OF ELECTRONIC BRAKING SYSTEMS FOR DIFFERENT VEHICLE CLASSES 68
5.2.1.3 Impact of New Car Assessment Program (NCAP) 69
TABLE 2 LOCAL NEW CAR ASSESSMENT PROGRAMS (NCAP) 70
TABLE 3 FACTORS & WEIGHTAGE FOR EURO NCAP RATING 70
5.2.2 RESTRAINTS 71
5.2.2.1 High development and maintenance costs of advanced braking technology 71
TABLE 4 ABS CONTROL MODULE REPAIR COSTS (USD) 71
5.2.3 OPPORTUNITIES 72
5.2.3.1 Adoption of brake-by-wire systems 72
FIGURE 27 BRAKE-BY-WIRE MARKET, BY REGION, 2021 VS. 2025 (USD MILLION) 72
TABLE 5 VEHICLE MODELS WITH BRAKE-BY-WIRE SYSTEMS 73
5.2.3.2 Government regulations to make advanced emergency braking systems mandatory 73
5.2.3.3 Increased use of regenerative braking in EV ecosystem 74
FIGURE 28 ELECTRIC VEHICLE SALES, BY REGION, 2022 VS. 2030 (‘000 UNITS) 74
5.2.4 CHALLENGES 75
5.2.4.1 Malfunctioning of electronic braking systems 75
5.2.4.2 Air brake freeze-ups 75
5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMER’S BUSINESS 76
FIGURE 29 REVENUE SHIFT FOR BRAKE SYSTEM MARKET 76
5.4 BRAKE SYSTEM MARKET, SCENARIOS (2018–2027) 77
5.5 MARKET ECOSYSTEM 77
TABLE 6 BRAKE SYSTEM MARKET: ECOSYSTEM 77
5.6 TECHNOLOGY ANALYSIS 78
5.7 CASE STUDY ANALYSIS 79
5.7.1 CASE STUDY 1 79
5.7.2 CASE STUDY 2 79
5.8 PATENT ANALYSIS 80
5.9 AVERAGE SELLING PRICE ANALYSIS 81
5.9.1 BY BRAKE TYPE 81
TABLE 7 AVERAGE SELLING PRICE, BY BRAKE TYPE, 2022 (USD) 81
5.9.2 BY VEHICLE TYPE 81
TABLE 8 AVERAGE SELLING PRICE, BY VEHICLE TYPE, 2022 (USD) 81
5.9.3 BY TECHNOLOGY 81
TABLE 9 AVERAGE SELLING PRICE, BY TECHNOLOGY, 2022 (USD) 81
5.10 VALUE CHAIN ANALYSIS 82
FIGURE 30 VALUE CHAIN ANALYSIS: BRAKE SYSTEM MARKET 83
5.11 PORTER’S FIVE FORCES ANALYSIS 84
FIGURE 31 PORTER’S FIVE FORCES ANALYSIS 84
5.11.1 THREAT OF NEW ENTRANTS 84
5.11.2 THREAT OF SUBSTITUTES 85
5.11.3 BARGAINING POWER OF SUPPLIERS 85
5.11.4 BARGAINING POWER OF BUYERS 85
5.11.5 INTENSITY OF COMPETITIVE RIVALRY 85
5.12 TRADE ANALYSIS 86
TABLE 10 TRADE ANALYSIS, VEHICLE PARTS; BRAKES, SERVO-BRAKES, AND PARTS THEREOF 86
5.13 REGULATORY LANDSCAPE 87
5.13.1 US: FEDERAL MOTOR SAFETY STANDARDS FOR BRAKE SYSTEM PARTS 88
TABLE 11 US: FEDERAL MOTOR VEHICLE SAFETY STANDARDS 88
5.13.2 VEHICLE SAFETY STANDARDS, BY COUNTRY/REGION 88
TABLE 12 VEHICLE SAFETY STANDARDS, BY REGION 88
5.13.3 ELECTRONIC BRAKE SYSTEM MANDATES, BY REGION 89
TABLE 13 ELECTRONIC BRAKE SYSTEM MANDATES, BY REGION 89
5.14 KEY STAKEHOLDERS IN BUYING PROCESS & BUYING CRITERIA 90
FIGURE 32 KEY BUYING CRITERIA FOR TOP 2 BRAKE TYPES 90
TABLE 14 KEY BUYING CRITERIA FOR TOP 2 BRAKE TYPES 90
5.14.1 KEY STAKEHOLDERS IN BUYING PROCESS 91
TABLE 15 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR ON-HIGHWAY VEHICLE APPLICATIONS (%) 91
5.15 KEY CONFERENCES 91
5.15.1 BRAKE SYSTEM MARKET: DETAILED LIST OF UPCOMING CONFERENCES AND EVENTS 91
6 BRAKE SYSTEM MARKET, BY BRAKE TYPE 92
6.1 INTRODUCTION 93
6.1.1 RESEARCH METHODOLOGY 93
6.1.2 ASSUMPTIONS/LIMITATIONS 93
6.1.3 INDUSTRY INSIGHTS 94
FIGURE 33 BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022 VS. 2027 (USD MILLION) 94
TABLE 16 BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (‘000 UNITS) 94
TABLE 17 BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (‘000 UNITS) 94
TABLE 18 BRAKE SYSTEM MARKET BY BRAKE TYPE, 2018–2021 (USD MILLION) 95
TABLE 19 BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (USD MILLION) 95
6.2 DISC BRAKE 95
6.2.1 BETTER HEAT DISSIPATION AND SELF-ADJUSTING FRICTION MATERIAL TO DRIVE DEMAND 95
TABLE 20 DISC BRAKE MARKET, BY REGION, 2018–2021 (‘000 UNITS) 96
TABLE 21 DISC BRAKE MARKET, BY REGION, 2022–2027 (‘000 UNITS) 96
TABLE 22 DISC BRAKE SYSTEM MARKET, BY REGION, 2018–2021 (USD MILLION) 96
TABLE 23 DISC BRAKE SYSTEM MARKET, BY REGION, 2022–2027 (USD MILLION) 96
6.3 DRUM BRAKE 97
6.3.1 COST-SENSITIVE NATURE OF EMERGING MARKETS EXPECTED TO DRIVE DEMAND 97
TABLE 24 DRUM BRAKE SYSTEM MARKET, BY REGION, 2018–2021 (‘000 UNITS) 97
TABLE 25 DRUM BRAKE SYSTEM MARKET, BY REGION, 2022–2027 (‘000 UNITS) 97
TABLE 26 DRUM BRAKE SYSTEM MARKET, BY REGION, 2018–2021 (USD MILLION) 98
TABLE 27 DRUM BRAKE SYSTEM MARKET, BY REGION, 2022–2027 (USD MILLION) 98
7 BRAKE SYSTEM MARKET, BY TECHNOLOGY 99
7.1 INTRODUCTION 100
7.1.1 RESEARCH METHODOLOGY 100
7.1.2 ASSUMPTIONS/LIMITATIONS 100
7.1.3 INDUSTRY INSIGHTS 100
FIGURE 34 BRAKE SYSTEM MARKET, BY TECHNOLOGY, 2022 VS. 2027 (‘000 UNITS) 101
TABLE 28 BRAKE SYSTEM MARKET, BY TECHNOLOGY, 2018–2021 (‘000 UNITS) 101
TABLE 29 BRAKE SYSTEM MARKET, BY TECHNOLOGY, 2022–2027 (‘000 UNITS) 101
7.2 ANTI-LOCK BRAKE SYSTEM (ABS) 102
7.2.1 REGULATIONS TO MANDATE ABS EXPECTED TO DRIVE SEGMENT 102
TABLE 30 ABS MARKET, BY REGION, 2018–2021 (‘000 UNITS) 102
TABLE 31 ABS MARKET, BY REGION, 2022–2027 (‘000 UNITS) 102
7.3 ELECTRONIC STABILITY CONTROL (ESC) 103
7.3.1 REDUCTION OF FATALITIES AND TECHNICAL BENEFITS EXPECTED TO DRIVE SEGMENT 103
TABLE 32 ESC MARKET, BY REGION, 2018–2021 (‘000 UNITS) 103
TABLE 33 ESC MARKET, BY REGION, 2022–2027 (‘000 UNITS) 103
7.4 TRACTION CONTROL SYSTEM (TCS) 104
7.4.1 BETTER TRACTION CONTROL AND LIMITED WHEEL SLIPPAGE EXPECTED TO DRIVE SEGMENT 104
TABLE 34 TCS MARKET, BY REGION, 2018–2021 (‘000 UNITS) 104
TABLE 35 TCS MARKET, BY REGION, 2022–2027 (‘000 UNITS) 104
7.5 ELECTRONIC BRAKE FORCE DISTRIBUTION (EBD) 105
7.5.1 STRINGENCY IN SAFETY REGULATIONS EXPECTED TO DRIVE SEGMENT 105
TABLE 36 EBD MARKET, BY REGION, 2018–2021 (‘000 UNITS) 105
TABLE 37 EBD MARKET, BY REGION, 2022–2027 (‘000 UNITS) 105
8 BRAKE SYSTEM MARKET, BY VEHICLE TYPE 106
8.1 INTRODUCTION 107
8.1.1 RESEARCH METHODOLOGY 107
8.1.2 ASSUMPTIONS/LIMITATIONS 107
8.1.3 INDUSTRY INSIGHTS 108
FIGURE 35 BRAKE SYSTEM MARKET, BY VEHICLE TYPE, 2022 VS. 2027 (USD MILLION) 108
TABLE 38 BRAKE SYSTEM MARKET, BY VEHICLE TYPE, 2018–2021 (‘000 UNITS) 108
TABLE 39 BRAKE SYSTEM MARKET, BY VEHICLE TYPE, 2022–2027 (‘000 UNITS) 109
TABLE 40 BRAKE SYSTEM MARKET, BY VEHICLE TYPE, 2018–2021 (USD MILLION) 109
TABLE 41 BRAKE SYSTEM MARKET, BY VEHICLE TYPE, 2022–2027 (USD MILLION) 109
8.2 PASSENGER CAR 110
8.2.1 STRINGENT SAFETY STANDARDS EXPECTED TO DRIVE SEGMENT 110
TABLE 42 PASSENGER CAR BRAKE SYSTEM MARKET, BY REGION, 2018–2021 (‘000 UNITS) 110
TABLE 43 PASSENGER CAR BRAKE SYSTEM MARKET, BY REGION, 2022–2027 (‘000 UNITS) 110
TABLE 44 PASSENGER CAR BRAKE SYSTEM MARKET, BY REGION, 2018–2021 (USD MILLION) 111
TABLE 45 PASSENGER CAR BRAKE SYSTEM MARKET, BY REGION, 2022–2027 (USD MILLION) 111
8.3 LIGHT COMMERCIAL VEHICLE (LCV) 111
8.3.1 GROWING DEMAND FOR ADVANCED BRAKING SYSTEMS EXPECTED TO DRIVE SEGMENT 111
TABLE 46 LCV BRAKE SYSTEM MARKET, BY REGION, 2018–2021 (‘000 UNITS) 112
TABLE 47 LCV BRAKE SYSTEM MARKET, BY REGION, 2022–2027 (‘000 UNITS) 112
TABLE 48 LCV BRAKE SYSTEM MARKET, BY REGION, 2018–2021 (USD MILLION) 112
TABLE 49 LCV BRAKE SYSTEM MARKET, BY REGION, 2022–2027 (USD MILLION) 112
8.4 TRUCK 113
8.4.1 INTRODUCTION OF ELECTRONIC BRAKE SYSTEMS EXPECTED TO DRIVE SEGMENT 113
TABLE 50 TRUCK BRAKE SYSTEM MARKET, BY REGION, 2018–2021 (‘000 UNITS) 113
TABLE 51 TRUCK BRAKE SYSTEM MARKET, BY REGION, 2022–2027 (‘000 UNITS) 114
TABLE 52 TRUCK BRAKE SYSTEM MARKET, BY REGION, 2018–2021 (USD MILLION) 114
TABLE 53 TRUCK BRAKE SYSTEM MARKET, BY REGION, 2022–2027 (USD MILLION) 114
8.5 BUS 115
8.5.1 ADOPTION OF EFFICIENT BRAKE SYSTEMS EXPECTED TO DRIVE SEGMENT 115
TABLE 54 BUS BRAKE SYSTEM MARKET, BY REGION, 2018–2021 (‘000 UNITS) 115
TABLE 55 BUS BRAKE SYSTEM MARKET, BY REGION, 2022–2027 (‘000 UNITS) 115
TABLE 56 BUS BRAKE SYSTEM MARKET, BY REGION, 2018–2021 (USD MILLION) 116
TABLE 57 BUS BRAKE SYSTEM MARKET, BY REGION, 2022–2027 (USD MILLION) 116
9 BRAKE SYSTEM MARKET, BY ACTUATION 117
9.1 INTRODUCTION 118
9.1.1 RESEARCH METHODOLOGY 118
9.1.2 ASSUMPTIONS/LIMITATIONS 118
9.1.3 INDUSTRY INSIGHTS 118
FIGURE 36 BRAKE SYSTEM MARKET, BY ACTUATION, 2022 VS. 2027 (‘000 UNITS) 119
TABLE 58 BRAKE SYSTEM MARKET, BY ACTUATION, 2018–2021 (‘000 UNITS) 119
TABLE 59 BRAKE SYSTEM MARKET, BY ACTUATION, 2022–2027 (‘000 UNITS) 119
9.2 HYDRAULIC BRAKE 120
9.2.1 LIGHT CONSTRUCTION AND LOW OVERALL WEIGHT TO DRIVE DEMAND 120
TABLE 60 HYDRAULIC BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (‘000 UNITS) 120
TABLE 61 HYDRAULIC BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (‘000 UNITS) 120
9.3 PNEUMATIC BRAKE 121
9.3.1 SAFETY REGULATIONS FOR HEAVY COMMERCIAL VEHICLES TO DRIVE DEMAND 121
TABLE 62 PNEUMATIC BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (‘000 UNITS) 121
TABLE 63 PNEUMATIC BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (‘000 UNITS) 121
10 OFF-HIGHWAY EQUIPMENT BRAKE SYSTEM MARKET, BY APPLICATION 122
10.1 INTRODUCTION 123
10.1.1 RESEARCH METHODOLOGY 123
10.1.2 ASSUMPTIONS/LIMITATIONS 123
10.1.3 INDUSTRY INSIGHTS 124
FIGURE 37 OFF-HIGHWAY EQUIPMENT BRAKE SYSTEM MARKET, BY APPLICATION, 2022 VS. 2027 (USD MILLION) 124
TABLE 64 OFF-HIGHWAY EQUIPMENT BRAKE SYSTEM MARKET, BY APPLICATION, 2018–2021 (‘000 UNITS) 124
TABLE 65 OFF-HIGHWAY EQUIPMENT BRAKE SYSTEM MARKET, BY APPLICATION, 2022–2027 (‘000 UNITS) 125
TABLE 66 OFF-HIGHWAY EQUIPMENT BRAKE SYSTEM MARKET, BY APPLICATION, 2018–2021 (USD MILLION) 125
TABLE 67 OFF-HIGHWAY EQUIPMENT BRAKE SYSTEM MARKET, BY APPLICATION, 2022–2027 (USD MILLION) 125
10.2 AGRICULTURAL EQUIPMENT 126
10.2.1 GROWING DEMAND FOR HIGH-POWERED TRACTORS TO DRIVE DEMAND FOR OIL-IMMERSED DISC BRAKES 126
TABLE 68 AGRICULTURAL EQUIPMENT BRAKE SYSTEM MARKET, BY REGION, 2018–2021 (‘000 UNITS) 126
TABLE 69 AGRICULTURAL EQUIPMENT BRAKE SYSTEM MARKET, BY REGION, 2022–2027 (‘000 UNITS) 126
TABLE 70 AGRICULTURAL EQUIPMENT BRAKE SYSTEM MARKET, BY REGION, 2018–2021 (USD MILLION) 127
TABLE 71 AGRICULTURAL EQUIPMENT BRAKE SYSTEM MARKET, BY REGION, 2022–2027 (USD MILLION) 127
10.3 CONSTRUCTION EQUIPMENT 128
TABLE 72 CONSTRUCTION EQUIPMENT BRAKE SYSTEM MARKET, BY REGION, 2018–2021 (‘000 UNITS) 128
TABLE 73 CONSTRUCTION EQUIPMENT BRAKE SYSTEM MARKET, BY REGION, 2022–2027 (‘000 UNITS) 128
TABLE 74 CONSTRUCTION EQUIPMENT BRAKE SYSTEM MARKET, BY REGION, 2018–2021 (USD MILLION) 129
TABLE 75 CONSTRUCTION EQUIPMENT BRAKE SYSTEM MARKET, BY REGION, 2022–2027 (USD MILLION) 129
10.4 MINING EQUIPMENT 129
TABLE 76 MINING EQUIPMENT BRAKE SYSTEM MARKET, BY REGION, 2018–2021 (‘000 UNITS) 130
TABLE 77 MINING EQUIPMENT BRAKE SYSTEM MARKET, BY REGION, 2022–2027 (‘000 UNITS) 130
TABLE 78 MINING EQUIPMENT BRAKE SYSTEM MARKET, BY REGION, 2018–2021 (USD MILLION) 130
TABLE 79 MINING EQUIPMENT BRAKE SYSTEM MARKET, BY REGION, 2022–2027 (USD MILLION) 131
11 OFF-HIGHWAY EQUIPMENT BRAKE SYSTEM MARKET, BY BRAKE TYPE 132
11.1 INTRODUCTION 133
11.1.1 RESEARCH METHODOLOGY 133
11.1.2 ASSUMPTIONS/LIMITATIONS 133
11.1.3 INDUSTRY INSIGHTS 134
FIGURE 38 OFF-HIGHWAY EQUIPMENT BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022 VS. 2027 (USD MILLION) 134
TABLE 80 OFF-HIGHWAY EQUIPMENT BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (‘000 UNITS) 134
TABLE 81 OFF-HIGHWAY EQUIPMENT BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (‘000 UNITS) 135
TABLE 82 OFF-HIGHWAY EQUIPMENT BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (USD MILLION) 135
TABLE 83 OFF-HIGHWAY EQUIPMENT BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (USD MILLION) 135
11.2 HYDROSTATIC BRAKE 136
11.2.1 INCREASING DEPLOYMENT OF MINING EQUIPMENT WITH HYDROSTATIC BRAKING EXPECTED TO DRIVE SEGMENT 136
TABLE 84 OFF-HIGHWAY EQUIPMENT HYDROSTATIC BRAKE SYSTEM MARKET, BY REGION, 2018–2021 (‘000 UNITS) 136
TABLE 85 OFF-HIGHWAY EQUIPMENT HYDROSTATIC BRAKE SYSTEM MARKET, BY REGION, 2022–2027 (‘000 UNITS) 136
TABLE 86 OFF-HIGHWAY EQUIPMENT HYDROSTATIC BRAKE SYSTEM MARKET, BY REGION, 2018–2021 (USD MILLION) 137
TABLE 87 OFF-HIGHWAY EQUIPMENT HYDROSTATIC BRAKE SYSTEM MARKET, BY REGION, 2022–2027 (USD MILLION) 137
11.3 HYDRAULIC WET BRAKE 137
11.3.1 SAFETY REGULATIONS FOR HEAVY COMMERCIAL VEHICLES EXPECTED TO DRIVE SEGMENT 137
TABLE 88 OFF-HIGHWAY EQUIPMENT HYDRAULIC WET BRAKE SYSTEM MARKET, BY REGION, 2018–2021 (‘000 UNITS) 138
TABLE 89 OFF-HIGHWAY EQUIPMENT HYDRAULIC WET BRAKE SYSTEM MARKET, BY REGION, 2022–2027 (‘000 UNITS) 138
TABLE 90 OFF-HIGHWAY EQUIPMENT HYDRAULIC WET BRAKE SYSTEM MARKET, BY REGION, 2018–2021 (USD MILLION) 138
TABLE 91 OFF-HIGHWAY EQUIPMENT HYDRAULIC WET BRAKE SYSTEM MARKET, BY REGION, 2022–2027 (USD MILLION) 139
11.4 DYNAMIC BRAKE 139
11.4.1 STRINGENCY IN SAFETY STANDARDS EXPECTED TO DRIVE SEGMENT 139
TABLE 92 OFF-HIGHWAY EQUIPMENT DYNAMIC BRAKE SYSTEM MARKET, BY REGION, 2018–2021 (‘000 UNITS) 139
TABLE 93 OFF-HIGHWAY EQUIPMENT DYNAMIC BRAKE SYSTEM MARKET, BY REGION, 2022–2027 (‘000 UNITS) 140
TABLE 94 OFF-HIGHWAY EQUIPMENT DYNAMIC BRAKE SYSTEM MARKET, BY REGION, 2018–2021 (USD MILLION) 140
TABLE 95 OFF-HIGHWAY EQUIPMENT DYNAMIC BRAKE SYSTEM MARKET, BY REGION, 2022–2027 (USD MILLION) 140
11.5 OTHERS 141
TABLE 96 OFF-HIGHWAY EQUIPMENT OTHER BRAKE SYSTEMS MARKET, BY REGION, 2018–2021 (‘000 UNITS) 141
TABLE 97 OFF-HIGHWAY EQUIPMENT OTHER BRAKE SYSTEMS MARKET, BY REGION, 2022–2027 (‘000 UNITS) 141
TABLE 98 OFF-HIGHWAY EQUIPMENT OTHER BRAKE SYSTEMS MARKET, BY REGION, 2018–2021 (USD MILLION) 141
TABLE 99 OFF-HIGHWAY EQUIPMENT OTHER BRAKE SYSTEMS MARKET, BY REGION, 2022–2027 (USD MILLION) 142
12 NORTH AMERICA BRAKE FRICTION PRODUCTS AFTERMARKET, BY PRODUCT 143
12.1 INTRODUCTION 144
12.1.1 RESEARCH METHODOLOGY 144
12.1.2 ASSUMPTIONS/LIMITATIONS 144
12.1.3 INDUSTRY INSIGHTS 145
FIGURE 39 NORTH AMERICA BRAKE FRICTION PRODUCTS AFTERMARKET, BY PRODUCT, 2022 VS. 2027 (USD MILLION) 145
TABLE 100 NORTH AMERICA BRAKE FRICTION PRODUCTS AFTERMARKET, BY PRODUCT, 2018–2021 (MILLION UNITS) 146
TABLE 101 NORTH AMERICA BRAKE FRICTION PRODUCTS AFTERMARKET, BY PRODUCT, 2022–2027 (MILLION UNITS) 146
TABLE 102 NORTH AMERICA BRAKE FRICTION PRODUCTS AFTERMARKET, BY PRODUCT, 2018–2021 (USD MILLION) 146
TABLE 103 NORTH AMERICA BRAKE FRICTION PRODUCTS AFTERMARKET, BY PRODUCT, 2022–2027 (USD MILLION) 147
13 ALL-TERRAIN VEHICLE BRAKE SYSTEM MARKET, BY REGION 149
13.1 INTRODUCTION 150
13.1.1 RESEARCH METHODOLOGY 150
13.1.2 ASSUMPTIONS/LIMITATIONS 150
13.1.3 INDUSTRY INSIGHTS 151
FIGURE 40 ALL-TERRAIN VEHICLE BRAKE SYSTEM MARKET, BY REGION, 2022 VS. 2027 (USD MILLION) 151
TABLE 104 ALL-TERRAIN VEHICLE BRAKE SYSTEM MARKET, BY REGION, 2018–2021 (‘000 UNITS) 151
TABLE 105 ALL-TERRAIN VEHICLE BRAKE SYSTEM MARKET, BY REGION, 2022–2027 (‘000 UNITS) 152
TABLE 106 ALL-TERRAIN VEHICLE BRAKE SYSTEM MARKET, BY REGION, 2018–2021 (USD MILLION) 152
TABLE 107 ALL-TERRAIN VEHICLE BRAKE SYSTEM MARKET, BY REGION, 2022–2027( USD MILLION) 152
14 REGENERATIVE BRAKING SYSTEM MARKET, BY ELECTRIC VEHICLE TYPE 154
14.1 INTRODUCTION 155
14.1.1 RESEARCH METHODOLOGY 155
14.1.2 ASSUMPTIONS/LIMITATIONS 155
14.1.3 INDUSTRY INSIGHTS 155
FIGURE 41 REGENERATIVE BRAKING SYSTEM MARKET, BY ELECTRIC VEHICLE TYPE, 2022 VS. 2027 (USD MILLION) 156
TABLE 108 REGENERATIVE BRAKING SYSTEM MARKET, BY ELECTRIC VEHICLE TYPE, 2018–2021 (‘000 UNITS) 156
TABLE 109 REGENERATIVE BRAKING SYSTEM MARKET, BY ELECTRIC VEHICLE TYPE, 2022–2027 (‘000 UNITS) 156
TABLE 110 REGENERATIVE BRAKING SYSTEM MARKET, BY ELECTRIC VEHICLE TYPE, 2018–2021 (USD MILLION) 157
TABLE 111 REGENERATIVE BRAKING SYSTEM MARKET, BY ELECTRIC VEHICLE TYPE, 2022–2027 (USD MILLION) 157
14.2 BEV 157
14.2.1 ATTRACTIVE GOVERNMENT INITIATIVES AND STRINGENT EMISSION STANDARDS TO DRIVE BEV SALES 157
TABLE 112 BEV REGENERATIVE BRAKING SYSTEM MARKET, BY REGION, 2018–2021 (‘000 UNITS) 157
TABLE 113 BEV REGENERATIVE BRAKING SYSTEM MARKET, BY REGION, 2022–2027 (‘000 UNITS) 158
TABLE 114 BEV REGENERATIVE BRAKING SYSTEM MARKET, BY REGION, 2018–2021 (USD MILLION) 158
TABLE 115 BEV REGENERATIVE BRAKING SYSTEM MARKET, BY REGION, 2022–2027 (USD MILLION) 158
14.3 PHEV 159
14.3.1 GROWING SALES DUE TO STRINGENT EMISSION STANDARDS TO DRIVE DEMAND 159
TABLE 116 PHEV REGENERATIVE BRAKING SYSTEM MARKET, BY REGION, 2018–2021 (‘000 UNITS) 159
TABLE 117 PHEV REGENERATIVE BRAKING SYSTEM MARKET, BY REGION, 2022–2027 (‘000 UNITS) 159
TABLE 118 PHEV REGENERATIVE BRAKING SYSTEM MARKET, BY REGION, 2018–2021 (USD MILLION) 159
TABLE 119 PHEV REGENERATIVE BRAKING SYSTEM MARKET, BY REGION, 2022–2027 (USD MILLION) 160
15 BRAKE SYSTEM MARKET, BY REGION 161
15.1 INTRODUCTION 162
15.1.1 RESEARCH METHODOLOGY 162
15.1.2 ASSUMPTIONS/LIMITATIONS 163
15.1.3 INDUSTRY INSIGHTS 163
FIGURE 42 BRAKE SYSTEM MARKET, BY REGION, 2022 VS. 2027 (USD MILLION) 163
TABLE 120 BRAKE SYSTEM MARKET, BY REGION, 2018–2021 (‘000 UNITS) 164
TABLE 121 BRAKE SYSTEM MARKET, BY REGION, 2022–2027 (‘000 UNITS) 164
TABLE 122 BRAKE SYSTEM MARKET, BY REGION, 2018–2021 (USD MILLION) 164
TABLE 123 BRAKE SYSTEM MARKET, BY REGION, 2022–2027 (USD MILLION) 165
15.2 ASIA PACIFIC 165
FIGURE 43 ASIA PACIFIC BRAKE SYSTEM MARKET SNAPSHOT 166
TABLE 124 ASIA PACIFIC: BRAKE SYSTEM MARKET, BY COUNTRY, 2018–2021 (‘000 UNITS) 166
TABLE 125 ASIA PACIFIC: BRAKE SYSTEM MARKET, BY COUNTRY, 2022–2027 (‘000 UNITS) 167
TABLE 126 ASIA PACIFIC: BRAKE SYSTEM MARKET, BY COUNTRY, 2018–2021 (USD MILLION) 167
TABLE 127 ASIA PACIFIC: BRAKE SYSTEM MARKET, BY COUNTRY, 2022–2027 (USD MILLION) 167
15.2.1 CHINA 168
15.2.1.1 Growing vehicle production to drive market 168
TABLE 128 CHINA: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (‘000 UNITS) 168
TABLE 129 CHINA: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (‘000 UNITS) 168
TABLE 130 CHINA: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (USD MILLION) 168
TABLE 131 CHINA: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (USD MILLION) 169
15.2.2 INDIA 169
15.2.2.1 Stringency in safety standards to drive market 169
TABLE 132 INDIA: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (‘000 UNITS) 169
TABLE 133 INDIA: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (‘000 UNITS) 170
TABLE 134 INDIA: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (USD MILLION) 170
TABLE 135 INDIA: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (USD MILLION) 170
15.2.3 JAPAN 170
15.2.3.1 Rising penetration of automatic braking systems to drive market 170
TABLE 136 JAPAN: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (‘000 UNITS) 171
TABLE 137 JAPAN: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (‘000 UNITS) 171
TABLE 138 JAPAN: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (USD MILLION) 171
TABLE 139 JAPAN: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (USD MILLION) 171
15.2.4 SOUTH KOREA 172
15.2.4.1 Government mandates for implementation of advanced brake systems to drive market 172
TABLE 140 SOUTH KOREA: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (‘000 UNITS) 172
TABLE 141 SOUTH KOREA: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (‘000 UNITS) 172
TABLE 142 SOUTH KOREA: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (USD MILLION) 172
TABLE 143 SOUTH KOREA: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (USD MILLION) 172
15.2.5 REST OF ASIA PACIFIC 173
TABLE 144 REST OF ASIA PACIFIC: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (‘000 UNITS) 173
TABLE 145 REST OF ASIA PACIFIC: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (‘000 UNITS) 173
TABLE 146 REST OF ASIA PACIFIC: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (USD MILLION) 174
TABLE 147 REST OF ASIA PACIFIC: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (USD MILLION) 174
15.3 EUROPE 174
FIGURE 44 EUROPE: BRAKE SYSTEM MARKET, BY COUNTRY, 2022 VS. 2027 175
TABLE 148 EUROPE: BRAKE SYSTEM MARKET, BY COUNTRY, 2018–2021 (‘000 UNITS) 175
TABLE 149 EUROPE: BRAKE SYSTEM MARKET, BY COUNTRY, 2022–2027 (‘000 UNITS) 175
TABLE 150 EUROPE: BRAKE SYSTEM MARKET, BY COUNTRY, 2018–2021 (USD MILLION) 176
TABLE 151 EUROPE: BRAKE SYSTEM MARKET, BY COUNTRY, 2022–2027 (USD MILLION) 176
15.3.1 GERMANY 176
15.3.1.1 Implementation of advanced emergency braking systems as standard fitment to drive market 176
TABLE 152 GERMANY: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (‘000 UNITS) 177
TABLE 153 GERMANY: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (‘000 UNITS) 177
TABLE 154 GERMANY: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (USD MILLION) 177
TABLE 155 GERMANY: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (USD MILLION) 177
15.3.2 FRANCE 178
15.3.2.1 Increasing penetration of disc brakes to drive market 178
TABLE 156 FRANCE: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (‘000 UNITS) 178
TABLE 157 FRANCE: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (‘000 UNITS) 178
TABLE 158 FRANCE: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (USD MILLION) 178
TABLE 159 FRANCE: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (USD MILLION) 178
15.3.3 SPAIN 179
15.3.3.1 Implementation of AEB in passenger cars to drive market 179
TABLE 160 SPAIN: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (‘000 UNITS) 179
TABLE 161 SPAIN: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (‘000 UNITS) 179
TABLE 162 SPAIN: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (USD MILLION) 179
TABLE 163 SPAIN: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (USD MILLION) 180
15.3.4 ITALY 180
15.3.4.1 Regulations mandating AEB to drive market 180
TABLE 164 ITALY: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (‘000 UNITS) 180
TABLE 165 ITALY: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (‘000 UNITS) 180
TABLE 166 ITALY: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (USD MILLION) 180
TABLE 167 ITALY: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (USD MILLION) 181
15.3.5 UK 181
15.3.5.1 Increasing adoption of ABS and ESC to drive market 181
TABLE 168 UK: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (‘000 UNITS) 181
TABLE 169 UK: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (‘000 UNITS) 181
TABLE 170 UK: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (USD MILLION) 182
TABLE 171 UK: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (USD MILLION) 182
15.3.6 REST OF EUROPE 182
TABLE 172 REST OF EUROPE: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (‘000 UNITS) 182
TABLE 173 REST OF EUROPE: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (‘000 UNITS) 182
TABLE 174 REST OF EUROPE: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (USD MILLION) 183
TABLE 175 REST OF EUROPE: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (USD MILLION) 183
15.4 NORTH AMERICA 183
FIGURE 45 NORTH AMERICA: BRAKE SYSTEM MARKET SNAPSHOT 184
TABLE 176 NORTH AMERICA: BRAKE SYSTEM MARKET, BY COUNTRY, 2018–2021 (‘000 UNITS) 184
TABLE 177 NORTH AMERICA: BRAKE SYSTEM MARKET, BY COUNTRY, 2022–2027 (‘000 UNITS) 185
TABLE 178 NORTH AMERICA: BRAKE SYSTEM MARKET, BY COUNTRY, 2018–2021 (USD MILLION) 185
TABLE 179 NORTH AMERICA: BRAKE SYSTEM MARKET, BY COUNTRY, 2022–2027 (USD MILLION) 185
15.4.1 US 185
15.4.1.1 Regulations to reduce stopping distance in commercial vehicles to drive market 185
TABLE 180 US: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (‘000 UNITS) 186
TABLE 181 US: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (‘000 UNITS) 186
TABLE 182 US: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (USD MILLION) 186
TABLE 183 US: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (USD MILLION) 186
15.4.2 CANADA 187
15.4.2.1 Mandatory features such as ABS and ESC to drive market 187
TABLE 184 CANADA: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (‘000 UNITS) 187
TABLE 185 CANADA: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (‘000 UNITS) 187
TABLE 186 CANADA: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (USD MILLION) 187
TABLE 187 CANADA: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (USD MILLION) 188
15.4.3 MEXICO 188
15.4.3.1 Free trade agreements promoting domestic production of brake system components to drive market 188
TABLE 188 MEXICO: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (‘000 UNITS) 188
TABLE 189 MEXICO: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (‘000 UNITS) 188
TABLE 190 MEXICO: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (USD MILLION) 189
TABLE 191 MEXICO: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (USD MILLION) 189
15.5 REST OF THE WORLD (ROW) 189
FIGURE 46 ROW: BRAKE SYSTEM MARKET, BY COUNTRY, 2022 VS. 2027 (USD MILLION) 190
TABLE 192 REST OF THE WORLD: BRAKE SYSTEM MARKET, BY COUNTRY, 2018–2021 (‘000 UNITS) 190
TABLE 193 REST OF THE WORLD: BRAKE SYSTEM MARKET, BY COUNTRY, 2022–2027 (‘000 UNITS) 190
TABLE 194 REST OF THE WORLD: BRAKE SYSTEM MARKET, BY COUNTRY, 2018–2021 (USD MILLION) 191
TABLE 195 REST OF THE WORLD: BRAKE SYSTEM MARKET, BY COUNTRY, 2022–2027 (USD MILLION) 191
15.5.1 BRAZIL 191
15.5.1.1 Setting up of local plants for brake system components to drive market 191
TABLE 196 BRAZIL: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (‘000 UNITS) 191
TABLE 197 BRAZIL: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (‘000 UNITS) 192
TABLE 198 BRAZIL: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (USD MILLION) 192
TABLE 199 BRAZIL: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (USD MILLION) 192
15.5.2 TURKEY 192
15.5.2.1 Lower manufacturing and labor costs to drive market 192
TABLE 200 TURKEY: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (‘000 UNITS) 193
TABLE 201 TURKEY: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (‘000 UNITS) 193
TABLE 202 TURKEY: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (USD MILLION) 193
TABLE 203 TURKEY: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (USD MILLION) 193
15.5.3 RUSSIA 194
15.5.3.1 Increasing adoption of disc brakes in LCVs to drive market 194
TABLE 204 RUSSIA: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (‘000 UNITS) 194
TABLE 205 RUSSIA: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (‘000 UNITS) 194
TABLE 206 RUSSIA: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (USD MILLION) 194
TABLE 207 RUSSIA: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (USD MILLION) 194
15.5.4 OTHERS 195
TABLE 208 OTHERS: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (‘000 UNITS) 195
TABLE 209 OTHERS: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (‘000 UNITS) 195
TABLE 210 OTHERS: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (USD MILLION) 195
TABLE 211 OTHERS: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (USD MILLION) 195
16 COMPETITIVE LANDSCAPE 196
16.1 OVERVIEW 196
16.2 KEY PLAYER STRATEGIES/RIGHT TO WIN 196
TABLE 212 COMPANIES ADOPTED NEW PRODUCT DEVELOPMENT AS KEY GROWTH STRATEGY, 2019–2021 196
16.3 REVENUE ANALYSIS OF TOP FIVE PLAYERS, 2019–2021 198
16.4 MARKET SHARE ANALYSIS 199
TABLE 213 MARKET STRUCTURE, 2021 199
FIGURE 47 BRAKE SYSTEM MARKET SHARE ANALYSIS, 2021 199
16.5 COMPETITIVE LEADERSHIP MAPPING 200
16.5.1 STARS 200
16.5.2 EMERGING LEADERS 200
16.5.3 PERVASIVE PLAYERS 200
16.5.4 PARTICIPANTS 200
FIGURE 48 COMPETITIVE LEADERSHIP MAPPING: BRAKE SYSTEM MANUFACTURERS 201
TABLE 214 BRAKE SYSTEM MARKET: COMPANY FOOTPRINT 202
TABLE 215 COMPANY TECHNOLOGY FOOTPRINT 203
TABLE 216 COMPANY REGION FOOTPRINT (19 COMPANIES) 204
16.6 COMPETITIVE LEADERSHIP MAPPING: OFF-HIGHWAY EQUIPMENT BRAKE SYSTEM MANUFACTURERS 205
16.6.1 STARS 205
16.6.2 EMERGING LEADERS 205
16.6.3 PERVASIVE PLAYERS 205
16.6.4 PARTICIPANTS 205
FIGURE 49 COMPETITIVE LEADERSHIP MAPPING: OFF-HIGHWAY EQUIPMENT BRAKE SYSTEM MANUFACTURERS 206
TABLE 217 OFF-HIGHWAY EQUIPMENT BRAKE SYSTEM MARKET: COMPANY FOOTPRINT 207
TABLE 218 COMPANY INDUSTRY FOOTPRINT (OFF-HIGHWAY EQUIPMENT) (12 COMPANIES) 208
TABLE 219 COMPANY REGION FOOTPRINT (OFF-HIGHWAY EQUIPMENT) (12 COMPANIES) 209
16.7 COMPETITIVE SCENARIO 209
16.8 NEW PRODUCT LAUNCHES 210
TABLE 220 NEW PRODUCT DEVELOPMENT, 2018–2022 210
16.9 DEALS, AGREEMENTS, PARTNERSHIPS, COLLABORATIONS, EXPANSION, AND JOINT VENTURES 213
TABLE 221 AGREEMENTS, PARTNERSHIPS, COLLABORATIONS, AND JOINT VENTURES, 2018–2022 213
Countries such as India, China, Brazil, Mexico, and Argentina focus on enhanced automotive safety standards. However, the high maintenance and repair costs can hinder market growth, especially in developing countries.
“The hydraulic brake is expected to be the largest market, by actuation.”
The growth in the production of passenger cars and light commercial vehicles (LCV) is driving the growth of hydraulic brake systems. Advantages such as better heat dissipation than mechanical brakes, better braking power transmission, compact size, and ease of repair due to the readily available brake parts in the aftermarket are instrumental in increasing the penetration of hydraulic brake systems. As the hydraulic brake market is directly linked to the production of passenger cars and LCVs, China, Japan and India are the largest markets for hydraulic brakes. Also, North America and Europe have a significant presence in hydraulic brakes. Still, as the local automobile OEMs outsource their manufacturing to developing countries, the brake products aftermarket is expected to showcase promising growth in these developing regions.
“Passenger Car, brake systems market, would be the fastest-growing market.”
Passenger cars contribute to more than 60% of global vehicle production; hence, the segment has the leading demand for brakes. Passenger cars employ two braking systems: service brakes and parking brakes. The market for passenger car brakes is mainly driven by increased production owing to increased personal use cars and ride sharing and government safety mandates. Although advanced brakes are popular in Europe and North America, the increasing penetration of such brakes in Asia Pacific is expected to boost the brake system market.
Many countries in Asia Pacific are adopting regulations that requires use of electronic brake system to be compulsorily installed on new vehicles. In April 2019, the Ministry of Road Transport & Highways of India under Bharat NCAP, announced that India will have safety braking features such as electronic stability control and autonomous braking as mandatory features on passenger cars by 2023. The stringency in passenger vehicle safety regulations is projected to increase the adoption of advanced brake systems. Passenger cars in Europe and North America already have significant penetration of advanced brake systems, and this penetration rate is expected to increase in the coming years.
“North America will continue to lead the ATV brake system market in coming years.”
The growing popularity of sports/recreational activities, increasing use in farms, and rising number of off-road sports events/championships would drive the global ATV market. This growth in ATVs globally would create opportunities for the ATV brake system market. Australia is the leading market for ATVs in the Asia Pacific; Utility ATVs are the most used ATVs in the Asia Pacific. As most ATVs in Asia Pacific uses drum brakes, the market for ATV drum brake system would be the largest in Asia Pacific.
On the other hand, North America contributes to more than 60% of the global ATV brake system market as it it is the largest ATV market in the world. Factors such as large forests, the prevalence of recreational sports, and use in military and agriculture are instrumental in higher market share of North America in ATV Market. Hence, North America would remain a major ATV brake system market in the forecast period.
“Asia Pacific would register the highest growth in on adoption of electronic advanced brake system during the forecast period”
Asia Pacific has emerged as the largest hub for vehicle production in recent years due to growth in favorable incentives by local governments, growing domestic market, and cost advantages for local automobile OEMs. Manufacturers such as BMW Motors (Germany) and Volkswagen AG (Germany) have already set up their manufacturing units in these countries on a large scale. The rise in automotive production is driving the automotive brake systems market in the region. As of 2022, drum-drum and disc-disc combination is popular with the automobile manufacturers in the region. But with changing preferences of customers in the region, the market for luxury and sports vehicles is growing which is projected to contribute in growth of disc-disc brake combination.
Companies such as Aisin Seiki Co., Ltd. (Japan), Akebono Brake Corporation (Japan), Mando Corporation (South Korea), and Hitachi Automotive Systems Ltd. (Japan) have a strong presence in the region. Further, China and India are the largest brake system markets in the Asia Pacific region. In China and India, the market for brake systems is driven by the increasing vehicle production in these two countries coupled with regulatory compliance with the UN agreement on approval and recognition for motor vehicle equipment and parts (ECE-R-13). Japan and South Korea also have a significant penetration of electronic braking systems due to their local regulations which comply with advanced braking system regulations stipulated in the US FMVSS105 and European ECE R13-H guidelines. Thus, with the implementation of stringent safety standards, the demand for brake systems is expected to grow further in the coming years.
In-depth interviews were conducted with Vice-presidents, marketing directors, innovation and technology directors, and executives from various key organizations operating in this market.
•By Company Type: Supply Side- 60%, Demand Side- 40%
•By Designation: C Level - 30%, D Level – 30%, and Others - 40%
•By Region: Asia Pacific- 60%, Europe - 20%, North America - 20%
The brake system market is led by globally established players such as Robert Bosch GmbH (Germany), ZF Friedrichshafen AG (Germany), Continental AG (Germany), Aisin Seiki Co, Ltd. (Japan), Knorr-Bremse AG (Germany), and Brembo S.p.A (Italy), Hitachi Astemo Ltd. (Japan), Mando Corporation (South Korea), Haldex AB (Sweden). The study includes an in-depth competitive analysis of these key players in the brake system market with their company profiles, MnM view of the top five companies, recent developments, and key market strategies.
Research Coverage:
The brake system market is segmented by region (Asia Pacific, Europe, North America, and RoW), vehicle type (passenger car, LCV, truck and bus), brake type (disc brake and drum brake), technology (anti-lock braking system, traction control system, electronic stability control, and electronic brake-force distribution), off-highway application (agricultural tractor, construction equipment and mining equipment), off-highway brake type (hydrostatic brake, hydraulic wet brake, dynamic brake and others), ,actuation (hydraulic and pneumatic), regenerative brake market(BEV and PHEV), and ATV brake system market( Asia Pacific, Europe, North America and RoW)
The study also includes an in-depth competitive analysis of the key players in the market along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market with the information on the closest approximations of the revenue numbers for the overall brake system market and the sub-segments. This report will help stakeholders understand the competitive landscape and gain insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
1 INTRODUCTION 34 1.1 STUDY OBJECTIVES 34 1.2 MARKET DEFINITION 35 1.2.1 INCLUSIONS & EXCLUSIONS 36 1.3 STUDY SCOPE 37 FIGURE 1 BRAKE SYSTEM MARKET: MARKET SEGMENTATION 37 FIGURE 2 BRAKE SYSTEM MARKET: BY REGION 38 1.4 SUMMARY OF CHANGES 38 2 RESEARCH METHODOLOGY 40 2.1 RESEARCH DATA 40 FIGURE 3 RESEARCH DESIGN 40 FIGURE 4 RESEARCH METHODOLOGY MODEL 41 2.1.1 SECONDARY DATA 41 2.1.1.1 List of key secondary sources 42 2.1.1.2 Key data from secondary sources 43 2.1.2 PRIMARY DATA 44 FIGURE 5 BREAKDOWN OF PRIMARY INTERVIEWS: BY STAKEHOLDER, DESIGNATION, & REGION 44 2.1.2.1 List of primary participants 45 2.2 MARKET ESTIMATION METHODOLOGY 45 FIGURE 6 RESEARCH METHODOLOGY: HYPOTHESIS BUILDING 46 2.2.1 BOTTOM-UP APPROACH 46 FIGURE 7 BRAKE SYSTEM MARKET SIZE: BOTTOM-UP APPROACH (ON- & OFF-HIGHWAY EQUIPMENT AND REGION) 47 2.2.2 TOP-DOWN APPROACH 47 FIGURE 8 BRAKE SYSTEM MARKET SIZE: TOP-DOWN APPROACH (BY ACTUATION) 47 2.3 DATA TRIANGULATION 48 FIGURE 9 DATA TRIANGULATION METHODOLOGY 48 2.4 RESEARCH ASSUMPTIONS 49 2.4.1 GLOBAL ASSUMPTIONS 49 2.4.2 MARKET ASSUMPTIONS 50 2.5 FACTOR ANALYSIS FOR MARKET SIZING: DEMAND AND SUPPLY SIDES 52 2.6 FACTOR ANALYSIS 53 2.7 RESEARCH LIMITATIONS 53 3 EXECUTIVE SUMMARY 54 3.1 MARKET SCENARIO 54 3.2 REPORT SUMMARY 55 FIGURE 10 BRAKE SYSTEM MARKET: MARKET OUTLOOK 55 FIGURE 11 BRAKE SYSTEM MARKET, BY REGION, 2022 VS. 2027 (USD MILLION) 56 4 PREMIUM INSIGHTS 58 4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN BRAKE SYSTEM MARKET 58 FIGURE 12 STRINGENT SAFETY STANDARDS AND GROWING POPULARITY OF DISC BRAKES TO DRIVE MARKET 58 4.2 BRAKE SYSTEM MARKET, BY REGION 59 FIGURE 13 ASIA PACIFIC TO DOMINATE MARKET DURING FORECAST PERIOD 59 4.3 BRAKE SYSTEM MARKET, BY TECHNOLOGY 59 FIGURE 14 ABS SEGMENT ESTIMATED TO HOLD LARGEST MARKET SHARE IN 2022 59 4.4 BRAKE SYSTEM MARKET, BY VEHICLE TYPE 60 FIGURE 15 PASSENGER CAR SEGMENT PROJECTED TO LEAD MARKET DURING FORECAST PERIOD 60 4.5 BRAKE SYSTEM MARKET, BY BRAKE TYPE 60 FIGURE 16 DISC BRAKE SEGMENT PROJECTED TO REGISTER HIGHER CAGR DURING FORECAST PERIOD 60 4.6 OFF-HIGHWAY EQUIPMENT BRAKE SYSTEM MARKET, BY APPLICATION 61 FIGURE 17 AGRICULTURAL EQUIPMENT SEGMENT PROJECTED TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD 61 4.7 OFF-HIGHWAY EQUIPMENT BRAKE SYSTEM MARKET, BY TYPE 61 FIGURE 18 HYDRAULIC WET BRAKE SEGMENT PROJECTED TO LEAD MARKET DURING FORECAST PERIOD 61 4.8 BRAKE SYSTEM MARKET, BY ACTUATION 62 FIGURE 19 PNEUMATIC BRAKE SEGMENT PROJECTED TO REGISTER HIGHER CAGR DURING FORECAST PERIOD 62 4.9 ALL-TERRAIN VEHICLE BRAKE SYSTEM MARKET, BY REGION 62 FIGURE 20 ASIA PACIFIC PROJECTED TO BE FASTEST-GROWING MARKET DURING FORECAST PERIOD 62 4.10 NORTH AMERICA BRAKE FRICTION PRODUCTS AFTERMARKET, BY PRODUCT 63 FIGURE 21 BRAKE DRUM SEGMENT TO WITNESS FASTEST GROWTH DURING FORECAST PERIOD 63 5 MARKET OVERVIEW 64 5.1 INTRODUCTION 64 5.2 MARKET DYNAMICS 65 FIGURE 22 BRAKE SYSTEM MARKET: MARKET DYNAMICS 65 5.2.1 DRIVERS 65 5.2.1.1 Stringent safety regulations 65 5.2.1.1.1 Reduction of required stopping distance for light and heavy-duty vehicles through regulations 65 FIGURE 23 COMPARISON OF STOPPING DISTANCES AT 65 MPH FOR PASSENGER CARS AND TRUCKS IN US 66 FIGURE 24 TOTAL STOPPING DISTANCES FOR PASSENGER CARS AND TRUCKS 66 5.2.1.1.2 Inclusion of advanced brake systems such as ABS and EBD to enhance vehicle safety 66 FIGURE 25 EFFECT OF EBD 67 5.2.1.2 Integration of ACC in electronic braking systems to enhance vehicle handling 67 TABLE 1 VEHICLES WITH ADAPTIVE CRUISE CONTROL 68 FIGURE 26 ANALYSIS OF ELECTRONIC BRAKING SYSTEMS FOR DIFFERENT VEHICLE CLASSES 68 5.2.1.3 Impact of New Car Assessment Program (NCAP) 69 TABLE 2 LOCAL NEW CAR ASSESSMENT PROGRAMS (NCAP) 70 TABLE 3 FACTORS & WEIGHTAGE FOR EURO NCAP RATING 70 5.2.2 RESTRAINTS 71 5.2.2.1 High development and maintenance costs of advanced braking technology 71 TABLE 4 ABS CONTROL MODULE REPAIR COSTS (USD) 71 5.2.3 OPPORTUNITIES 72 5.2.3.1 Adoption of brake-by-wire systems 72 FIGURE 27 BRAKE-BY-WIRE MARKET, BY REGION, 2021 VS. 2025 (USD MILLION) 72 TABLE 5 VEHICLE MODELS WITH BRAKE-BY-WIRE SYSTEMS 73 5.2.3.2 Government regulations to make advanced emergency braking systems mandatory 73 5.2.3.3 Increased use of regenerative braking in EV ecosystem 74 FIGURE 28 ELECTRIC VEHICLE SALES, BY REGION, 2022 VS. 2030 (‘000 UNITS) 74 5.2.4 CHALLENGES 75 5.2.4.1 Malfunctioning of electronic braking systems 75 5.2.4.2 Air brake freeze-ups 75 5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMER’S BUSINESS 76 FIGURE 29 REVENUE SHIFT FOR BRAKE SYSTEM MARKET 76 5.4 BRAKE SYSTEM MARKET, SCENARIOS (2018–2027) 77 5.5 MARKET ECOSYSTEM 77 TABLE 6 BRAKE SYSTEM MARKET: ECOSYSTEM 77 5.6 TECHNOLOGY ANALYSIS 78 5.7 CASE STUDY ANALYSIS 79 5.7.1 CASE STUDY 1 79 5.7.2 CASE STUDY 2 79 5.8 PATENT ANALYSIS 80 5.9 AVERAGE SELLING PRICE ANALYSIS 81 5.9.1 BY BRAKE TYPE 81 TABLE 7 AVERAGE SELLING PRICE, BY BRAKE TYPE, 2022 (USD) 81 5.9.2 BY VEHICLE TYPE 81 TABLE 8 AVERAGE SELLING PRICE, BY VEHICLE TYPE, 2022 (USD) 81 5.9.3 BY TECHNOLOGY 81 TABLE 9 AVERAGE SELLING PRICE, BY TECHNOLOGY, 2022 (USD) 81 5.10 VALUE CHAIN ANALYSIS 82 FIGURE 30 VALUE CHAIN ANALYSIS: BRAKE SYSTEM MARKET 83 5.11 PORTER’S FIVE FORCES ANALYSIS 84 FIGURE 31 PORTER’S FIVE FORCES ANALYSIS 84 5.11.1 THREAT OF NEW ENTRANTS 84 5.11.2 THREAT OF SUBSTITUTES 85 5.11.3 BARGAINING POWER OF SUPPLIERS 85 5.11.4 BARGAINING POWER OF BUYERS 85 5.11.5 INTENSITY OF COMPETITIVE RIVALRY 85 5.12 TRADE ANALYSIS 86 TABLE 10 TRADE ANALYSIS, VEHICLE PARTS; BRAKES, SERVO-BRAKES, AND PARTS THEREOF 86 5.13 REGULATORY LANDSCAPE 87 5.13.1 US: FEDERAL MOTOR SAFETY STANDARDS FOR BRAKE SYSTEM PARTS 88 TABLE 11 US: FEDERAL MOTOR VEHICLE SAFETY STANDARDS 88 5.13.2 VEHICLE SAFETY STANDARDS, BY COUNTRY/REGION 88 TABLE 12 VEHICLE SAFETY STANDARDS, BY REGION 88 5.13.3 ELECTRONIC BRAKE SYSTEM MANDATES, BY REGION 89 TABLE 13 ELECTRONIC BRAKE SYSTEM MANDATES, BY REGION 89 5.14 KEY STAKEHOLDERS IN BUYING PROCESS & BUYING CRITERIA 90 FIGURE 32 KEY BUYING CRITERIA FOR TOP 2 BRAKE TYPES 90 TABLE 14 KEY BUYING CRITERIA FOR TOP 2 BRAKE TYPES 90 5.14.1 KEY STAKEHOLDERS IN BUYING PROCESS 91 TABLE 15 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR ON-HIGHWAY VEHICLE APPLICATIONS (%) 91 5.15 KEY CONFERENCES 91 5.15.1 BRAKE SYSTEM MARKET: DETAILED LIST OF UPCOMING CONFERENCES AND EVENTS 91 6 BRAKE SYSTEM MARKET, BY BRAKE TYPE 92 6.1 INTRODUCTION 93 6.1.1 RESEARCH METHODOLOGY 93 6.1.2 ASSUMPTIONS/LIMITATIONS 93 6.1.3 INDUSTRY INSIGHTS 94 FIGURE 33 BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022 VS. 2027 (USD MILLION) 94 TABLE 16 BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (‘000 UNITS) 94 TABLE 17 BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (‘000 UNITS) 94 TABLE 18 BRAKE SYSTEM MARKET BY BRAKE TYPE, 2018–2021 (USD MILLION) 95 TABLE 19 BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (USD MILLION) 95 6.2 DISC BRAKE 95 6.2.1 BETTER HEAT DISSIPATION AND SELF-ADJUSTING FRICTION MATERIAL TO DRIVE DEMAND 95 TABLE 20 DISC BRAKE MARKET, BY REGION, 2018–2021 (‘000 UNITS) 96 TABLE 21 DISC BRAKE MARKET, BY REGION, 2022–2027 (‘000 UNITS) 96 TABLE 22 DISC BRAKE SYSTEM MARKET, BY REGION, 2018–2021 (USD MILLION) 96 TABLE 23 DISC BRAKE SYSTEM MARKET, BY REGION, 2022–2027 (USD MILLION) 96 6.3 DRUM BRAKE 97 6.3.1 COST-SENSITIVE NATURE OF EMERGING MARKETS EXPECTED TO DRIVE DEMAND 97 TABLE 24 DRUM BRAKE SYSTEM MARKET, BY REGION, 2018–2021 (‘000 UNITS) 97 TABLE 25 DRUM BRAKE SYSTEM MARKET, BY REGION, 2022–2027 (‘000 UNITS) 97 TABLE 26 DRUM BRAKE SYSTEM MARKET, BY REGION, 2018–2021 (USD MILLION) 98 TABLE 27 DRUM BRAKE SYSTEM MARKET, BY REGION, 2022–2027 (USD MILLION) 98 7 BRAKE SYSTEM MARKET, BY TECHNOLOGY 99 7.1 INTRODUCTION 100 7.1.1 RESEARCH METHODOLOGY 100 7.1.2 ASSUMPTIONS/LIMITATIONS 100 7.1.3 INDUSTRY INSIGHTS 100 FIGURE 34 BRAKE SYSTEM MARKET, BY TECHNOLOGY, 2022 VS. 2027 (‘000 UNITS) 101 TABLE 28 BRAKE SYSTEM MARKET, BY TECHNOLOGY, 2018–2021 (‘000 UNITS) 101 TABLE 29 BRAKE SYSTEM MARKET, BY TECHNOLOGY, 2022–2027 (‘000 UNITS) 101 7.2 ANTI-LOCK BRAKE SYSTEM (ABS) 102 7.2.1 REGULATIONS TO MANDATE ABS EXPECTED TO DRIVE SEGMENT 102 TABLE 30 ABS MARKET, BY REGION, 2018–2021 (‘000 UNITS) 102 TABLE 31 ABS MARKET, BY REGION, 2022–2027 (‘000 UNITS) 102 7.3 ELECTRONIC STABILITY CONTROL (ESC) 103 7.3.1 REDUCTION OF FATALITIES AND TECHNICAL BENEFITS EXPECTED TO DRIVE SEGMENT 103 TABLE 32 ESC MARKET, BY REGION, 2018–2021 (‘000 UNITS) 103 TABLE 33 ESC MARKET, BY REGION, 2022–2027 (‘000 UNITS) 103 7.4 TRACTION CONTROL SYSTEM (TCS) 104 7.4.1 BETTER TRACTION CONTROL AND LIMITED WHEEL SLIPPAGE EXPECTED TO DRIVE SEGMENT 104 TABLE 34 TCS MARKET, BY REGION, 2018–2021 (‘000 UNITS) 104 TABLE 35 TCS MARKET, BY REGION, 2022–2027 (‘000 UNITS) 104 7.5 ELECTRONIC BRAKE FORCE DISTRIBUTION (EBD) 105 7.5.1 STRINGENCY IN SAFETY REGULATIONS EXPECTED TO DRIVE SEGMENT 105 TABLE 36 EBD MARKET, BY REGION, 2018–2021 (‘000 UNITS) 105 TABLE 37 EBD MARKET, BY REGION, 2022–2027 (‘000 UNITS) 105 8 BRAKE SYSTEM MARKET, BY VEHICLE TYPE 106 8.1 INTRODUCTION 107 8.1.1 RESEARCH METHODOLOGY 107 8.1.2 ASSUMPTIONS/LIMITATIONS 107 8.1.3 INDUSTRY INSIGHTS 108 FIGURE 35 BRAKE SYSTEM MARKET, BY VEHICLE TYPE, 2022 VS. 2027 (USD MILLION) 108 TABLE 38 BRAKE SYSTEM MARKET, BY VEHICLE TYPE, 2018–2021 (‘000 UNITS) 108 TABLE 39 BRAKE SYSTEM MARKET, BY VEHICLE TYPE, 2022–2027 (‘000 UNITS) 109 TABLE 40 BRAKE SYSTEM MARKET, BY VEHICLE TYPE, 2018–2021 (USD MILLION) 109 TABLE 41 BRAKE SYSTEM MARKET, BY VEHICLE TYPE, 2022–2027 (USD MILLION) 109 8.2 PASSENGER CAR 110 8.2.1 STRINGENT SAFETY STANDARDS EXPECTED TO DRIVE SEGMENT 110 TABLE 42 PASSENGER CAR BRAKE SYSTEM MARKET, BY REGION, 2018–2021 (‘000 UNITS) 110 TABLE 43 PASSENGER CAR BRAKE SYSTEM MARKET, BY REGION, 2022–2027 (‘000 UNITS) 110 TABLE 44 PASSENGER CAR BRAKE SYSTEM MARKET, BY REGION, 2018–2021 (USD MILLION) 111 TABLE 45 PASSENGER CAR BRAKE SYSTEM MARKET, BY REGION, 2022–2027 (USD MILLION) 111 8.3 LIGHT COMMERCIAL VEHICLE (LCV) 111 8.3.1 GROWING DEMAND FOR ADVANCED BRAKING SYSTEMS EXPECTED TO DRIVE SEGMENT 111 TABLE 46 LCV BRAKE SYSTEM MARKET, BY REGION, 2018–2021 (‘000 UNITS) 112 TABLE 47 LCV BRAKE SYSTEM MARKET, BY REGION, 2022–2027 (‘000 UNITS) 112 TABLE 48 LCV BRAKE SYSTEM MARKET, BY REGION, 2018–2021 (USD MILLION) 112 TABLE 49 LCV BRAKE SYSTEM MARKET, BY REGION, 2022–2027 (USD MILLION) 112 8.4 TRUCK 113 8.4.1 INTRODUCTION OF ELECTRONIC BRAKE SYSTEMS EXPECTED TO DRIVE SEGMENT 113 TABLE 50 TRUCK BRAKE SYSTEM MARKET, BY REGION, 2018–2021 (‘000 UNITS) 113 TABLE 51 TRUCK BRAKE SYSTEM MARKET, BY REGION, 2022–2027 (‘000 UNITS) 114 TABLE 52 TRUCK BRAKE SYSTEM MARKET, BY REGION, 2018–2021 (USD MILLION) 114 TABLE 53 TRUCK BRAKE SYSTEM MARKET, BY REGION, 2022–2027 (USD MILLION) 114 8.5 BUS 115 8.5.1 ADOPTION OF EFFICIENT BRAKE SYSTEMS EXPECTED TO DRIVE SEGMENT 115 TABLE 54 BUS BRAKE SYSTEM MARKET, BY REGION, 2018–2021 (‘000 UNITS) 115 TABLE 55 BUS BRAKE SYSTEM MARKET, BY REGION, 2022–2027 (‘000 UNITS) 115 TABLE 56 BUS BRAKE SYSTEM MARKET, BY REGION, 2018–2021 (USD MILLION) 116 TABLE 57 BUS BRAKE SYSTEM MARKET, BY REGION, 2022–2027 (USD MILLION) 116 9 BRAKE SYSTEM MARKET, BY ACTUATION 117 9.1 INTRODUCTION 118 9.1.1 RESEARCH METHODOLOGY 118 9.1.2 ASSUMPTIONS/LIMITATIONS 118 9.1.3 INDUSTRY INSIGHTS 118 FIGURE 36 BRAKE SYSTEM MARKET, BY ACTUATION, 2022 VS. 2027 (‘000 UNITS) 119 TABLE 58 BRAKE SYSTEM MARKET, BY ACTUATION, 2018–2021 (‘000 UNITS) 119 TABLE 59 BRAKE SYSTEM MARKET, BY ACTUATION, 2022–2027 (‘000 UNITS) 119 9.2 HYDRAULIC BRAKE 120 9.2.1 LIGHT CONSTRUCTION AND LOW OVERALL WEIGHT TO DRIVE DEMAND 120 TABLE 60 HYDRAULIC BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (‘000 UNITS) 120 TABLE 61 HYDRAULIC BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (‘000 UNITS) 120 9.3 PNEUMATIC BRAKE 121 9.3.1 SAFETY REGULATIONS FOR HEAVY COMMERCIAL VEHICLES TO DRIVE DEMAND 121 TABLE 62 PNEUMATIC BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (‘000 UNITS) 121 TABLE 63 PNEUMATIC BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (‘000 UNITS) 121 10 OFF-HIGHWAY EQUIPMENT BRAKE SYSTEM MARKET, BY APPLICATION 122 10.1 INTRODUCTION 123 10.1.1 RESEARCH METHODOLOGY 123 10.1.2 ASSUMPTIONS/LIMITATIONS 123 10.1.3 INDUSTRY INSIGHTS 124 FIGURE 37 OFF-HIGHWAY EQUIPMENT BRAKE SYSTEM MARKET, BY APPLICATION, 2022 VS. 2027 (USD MILLION) 124 TABLE 64 OFF-HIGHWAY EQUIPMENT BRAKE SYSTEM MARKET, BY APPLICATION, 2018–2021 (‘000 UNITS) 124 TABLE 65 OFF-HIGHWAY EQUIPMENT BRAKE SYSTEM MARKET, BY APPLICATION, 2022–2027 (‘000 UNITS) 125 TABLE 66 OFF-HIGHWAY EQUIPMENT BRAKE SYSTEM MARKET, BY APPLICATION, 2018–2021 (USD MILLION) 125 TABLE 67 OFF-HIGHWAY EQUIPMENT BRAKE SYSTEM MARKET, BY APPLICATION, 2022–2027 (USD MILLION) 125 10.2 AGRICULTURAL EQUIPMENT 126 10.2.1 GROWING DEMAND FOR HIGH-POWERED TRACTORS TO DRIVE DEMAND FOR OIL-IMMERSED DISC BRAKES 126 TABLE 68 AGRICULTURAL EQUIPMENT BRAKE SYSTEM MARKET, BY REGION, 2018–2021 (‘000 UNITS) 126 TABLE 69 AGRICULTURAL EQUIPMENT BRAKE SYSTEM MARKET, BY REGION, 2022–2027 (‘000 UNITS) 126 TABLE 70 AGRICULTURAL EQUIPMENT BRAKE SYSTEM MARKET, BY REGION, 2018–2021 (USD MILLION) 127 TABLE 71 AGRICULTURAL EQUIPMENT BRAKE SYSTEM MARKET, BY REGION, 2022–2027 (USD MILLION) 127 10.3 CONSTRUCTION EQUIPMENT 128 TABLE 72 CONSTRUCTION EQUIPMENT BRAKE SYSTEM MARKET, BY REGION, 2018–2021 (‘000 UNITS) 128 TABLE 73 CONSTRUCTION EQUIPMENT BRAKE SYSTEM MARKET, BY REGION, 2022–2027 (‘000 UNITS) 128 TABLE 74 CONSTRUCTION EQUIPMENT BRAKE SYSTEM MARKET, BY REGION, 2018–2021 (USD MILLION) 129 TABLE 75 CONSTRUCTION EQUIPMENT BRAKE SYSTEM MARKET, BY REGION, 2022–2027 (USD MILLION) 129 10.4 MINING EQUIPMENT 129 TABLE 76 MINING EQUIPMENT BRAKE SYSTEM MARKET, BY REGION, 2018–2021 (‘000 UNITS) 130 TABLE 77 MINING EQUIPMENT BRAKE SYSTEM MARKET, BY REGION, 2022–2027 (‘000 UNITS) 130 TABLE 78 MINING EQUIPMENT BRAKE SYSTEM MARKET, BY REGION, 2018–2021 (USD MILLION) 130 TABLE 79 MINING EQUIPMENT BRAKE SYSTEM MARKET, BY REGION, 2022–2027 (USD MILLION) 131 11 OFF-HIGHWAY EQUIPMENT BRAKE SYSTEM MARKET, BY BRAKE TYPE 132 11.1 INTRODUCTION 133 11.1.1 RESEARCH METHODOLOGY 133 11.1.2 ASSUMPTIONS/LIMITATIONS 133 11.1.3 INDUSTRY INSIGHTS 134 FIGURE 38 OFF-HIGHWAY EQUIPMENT BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022 VS. 2027 (USD MILLION) 134 TABLE 80 OFF-HIGHWAY EQUIPMENT BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (‘000 UNITS) 134 TABLE 81 OFF-HIGHWAY EQUIPMENT BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (‘000 UNITS) 135 TABLE 82 OFF-HIGHWAY EQUIPMENT BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (USD MILLION) 135 TABLE 83 OFF-HIGHWAY EQUIPMENT BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (USD MILLION) 135 11.2 HYDROSTATIC BRAKE 136 11.2.1 INCREASING DEPLOYMENT OF MINING EQUIPMENT WITH HYDROSTATIC BRAKING EXPECTED TO DRIVE SEGMENT 136 TABLE 84 OFF-HIGHWAY EQUIPMENT HYDROSTATIC BRAKE SYSTEM MARKET, BY REGION, 2018–2021 (‘000 UNITS) 136 TABLE 85 OFF-HIGHWAY EQUIPMENT HYDROSTATIC BRAKE SYSTEM MARKET, BY REGION, 2022–2027 (‘000 UNITS) 136 TABLE 86 OFF-HIGHWAY EQUIPMENT HYDROSTATIC BRAKE SYSTEM MARKET, BY REGION, 2018–2021 (USD MILLION) 137 TABLE 87 OFF-HIGHWAY EQUIPMENT HYDROSTATIC BRAKE SYSTEM MARKET, BY REGION, 2022–2027 (USD MILLION) 137 11.3 HYDRAULIC WET BRAKE 137 11.3.1 SAFETY REGULATIONS FOR HEAVY COMMERCIAL VEHICLES EXPECTED TO DRIVE SEGMENT 137 TABLE 88 OFF-HIGHWAY EQUIPMENT HYDRAULIC WET BRAKE SYSTEM MARKET, BY REGION, 2018–2021 (‘000 UNITS) 138 TABLE 89 OFF-HIGHWAY EQUIPMENT HYDRAULIC WET BRAKE SYSTEM MARKET, BY REGION, 2022–2027 (‘000 UNITS) 138 TABLE 90 OFF-HIGHWAY EQUIPMENT HYDRAULIC WET BRAKE SYSTEM MARKET, BY REGION, 2018–2021 (USD MILLION) 138 TABLE 91 OFF-HIGHWAY EQUIPMENT HYDRAULIC WET BRAKE SYSTEM MARKET, BY REGION, 2022–2027 (USD MILLION) 139 11.4 DYNAMIC BRAKE 139 11.4.1 STRINGENCY IN SAFETY STANDARDS EXPECTED TO DRIVE SEGMENT 139 TABLE 92 OFF-HIGHWAY EQUIPMENT DYNAMIC BRAKE SYSTEM MARKET, BY REGION, 2018–2021 (‘000 UNITS) 139 TABLE 93 OFF-HIGHWAY EQUIPMENT DYNAMIC BRAKE SYSTEM MARKET, BY REGION, 2022–2027 (‘000 UNITS) 140 TABLE 94 OFF-HIGHWAY EQUIPMENT DYNAMIC BRAKE SYSTEM MARKET, BY REGION, 2018–2021 (USD MILLION) 140 TABLE 95 OFF-HIGHWAY EQUIPMENT DYNAMIC BRAKE SYSTEM MARKET, BY REGION, 2022–2027 (USD MILLION) 140 11.5 OTHERS 141 TABLE 96 OFF-HIGHWAY EQUIPMENT OTHER BRAKE SYSTEMS MARKET, BY REGION, 2018–2021 (‘000 UNITS) 141 TABLE 97 OFF-HIGHWAY EQUIPMENT OTHER BRAKE SYSTEMS MARKET, BY REGION, 2022–2027 (‘000 UNITS) 141 TABLE 98 OFF-HIGHWAY EQUIPMENT OTHER BRAKE SYSTEMS MARKET, BY REGION, 2018–2021 (USD MILLION) 141 TABLE 99 OFF-HIGHWAY EQUIPMENT OTHER BRAKE SYSTEMS MARKET, BY REGION, 2022–2027 (USD MILLION) 142 12 NORTH AMERICA BRAKE FRICTION PRODUCTS AFTERMARKET, BY PRODUCT 143 12.1 INTRODUCTION 144 12.1.1 RESEARCH METHODOLOGY 144 12.1.2 ASSUMPTIONS/LIMITATIONS 144 12.1.3 INDUSTRY INSIGHTS 145 FIGURE 39 NORTH AMERICA BRAKE FRICTION PRODUCTS AFTERMARKET, BY PRODUCT, 2022 VS. 2027 (USD MILLION) 145 TABLE 100 NORTH AMERICA BRAKE FRICTION PRODUCTS AFTERMARKET, BY PRODUCT, 2018–2021 (MILLION UNITS) 146 TABLE 101 NORTH AMERICA BRAKE FRICTION PRODUCTS AFTERMARKET, BY PRODUCT, 2022–2027 (MILLION UNITS) 146 TABLE 102 NORTH AMERICA BRAKE FRICTION PRODUCTS AFTERMARKET, BY PRODUCT, 2018–2021 (USD MILLION) 146 TABLE 103 NORTH AMERICA BRAKE FRICTION PRODUCTS AFTERMARKET, BY PRODUCT, 2022–2027 (USD MILLION) 147 13 ALL-TERRAIN VEHICLE BRAKE SYSTEM MARKET, BY REGION 149 13.1 INTRODUCTION 150 13.1.1 RESEARCH METHODOLOGY 150 13.1.2 ASSUMPTIONS/LIMITATIONS 150 13.1.3 INDUSTRY INSIGHTS 151 FIGURE 40 ALL-TERRAIN VEHICLE BRAKE SYSTEM MARKET, BY REGION, 2022 VS. 2027 (USD MILLION) 151 TABLE 104 ALL-TERRAIN VEHICLE BRAKE SYSTEM MARKET, BY REGION, 2018–2021 (‘000 UNITS) 151 TABLE 105 ALL-TERRAIN VEHICLE BRAKE SYSTEM MARKET, BY REGION, 2022–2027 (‘000 UNITS) 152 TABLE 106 ALL-TERRAIN VEHICLE BRAKE SYSTEM MARKET, BY REGION, 2018–2021 (USD MILLION) 152 TABLE 107 ALL-TERRAIN VEHICLE BRAKE SYSTEM MARKET, BY REGION, 2022–2027( USD MILLION) 152 14 REGENERATIVE BRAKING SYSTEM MARKET, BY ELECTRIC VEHICLE TYPE 154 14.1 INTRODUCTION 155 14.1.1 RESEARCH METHODOLOGY 155 14.1.2 ASSUMPTIONS/LIMITATIONS 155 14.1.3 INDUSTRY INSIGHTS 155 FIGURE 41 REGENERATIVE BRAKING SYSTEM MARKET, BY ELECTRIC VEHICLE TYPE, 2022 VS. 2027 (USD MILLION) 156 TABLE 108 REGENERATIVE BRAKING SYSTEM MARKET, BY ELECTRIC VEHICLE TYPE, 2018–2021 (‘000 UNITS) 156 TABLE 109 REGENERATIVE BRAKING SYSTEM MARKET, BY ELECTRIC VEHICLE TYPE, 2022–2027 (‘000 UNITS) 156 TABLE 110 REGENERATIVE BRAKING SYSTEM MARKET, BY ELECTRIC VEHICLE TYPE, 2018–2021 (USD MILLION) 157 TABLE 111 REGENERATIVE BRAKING SYSTEM MARKET, BY ELECTRIC VEHICLE TYPE, 2022–2027 (USD MILLION) 157 14.2 BEV 157 14.2.1 ATTRACTIVE GOVERNMENT INITIATIVES AND STRINGENT EMISSION STANDARDS TO DRIVE BEV SALES 157 TABLE 112 BEV REGENERATIVE BRAKING SYSTEM MARKET, BY REGION, 2018–2021 (‘000 UNITS) 157 TABLE 113 BEV REGENERATIVE BRAKING SYSTEM MARKET, BY REGION, 2022–2027 (‘000 UNITS) 158 TABLE 114 BEV REGENERATIVE BRAKING SYSTEM MARKET, BY REGION, 2018–2021 (USD MILLION) 158 TABLE 115 BEV REGENERATIVE BRAKING SYSTEM MARKET, BY REGION, 2022–2027 (USD MILLION) 158 14.3 PHEV 159 14.3.1 GROWING SALES DUE TO STRINGENT EMISSION STANDARDS TO DRIVE DEMAND 159 TABLE 116 PHEV REGENERATIVE BRAKING SYSTEM MARKET, BY REGION, 2018–2021 (‘000 UNITS) 159 TABLE 117 PHEV REGENERATIVE BRAKING SYSTEM MARKET, BY REGION, 2022–2027 (‘000 UNITS) 159 TABLE 118 PHEV REGENERATIVE BRAKING SYSTEM MARKET, BY REGION, 2018–2021 (USD MILLION) 159 TABLE 119 PHEV REGENERATIVE BRAKING SYSTEM MARKET, BY REGION, 2022–2027 (USD MILLION) 160 15 BRAKE SYSTEM MARKET, BY REGION 161 15.1 INTRODUCTION 162 15.1.1 RESEARCH METHODOLOGY 162 15.1.2 ASSUMPTIONS/LIMITATIONS 163 15.1.3 INDUSTRY INSIGHTS 163 FIGURE 42 BRAKE SYSTEM MARKET, BY REGION, 2022 VS. 2027 (USD MILLION) 163 TABLE 120 BRAKE SYSTEM MARKET, BY REGION, 2018–2021 (‘000 UNITS) 164 TABLE 121 BRAKE SYSTEM MARKET, BY REGION, 2022–2027 (‘000 UNITS) 164 TABLE 122 BRAKE SYSTEM MARKET, BY REGION, 2018–2021 (USD MILLION) 164 TABLE 123 BRAKE SYSTEM MARKET, BY REGION, 2022–2027 (USD MILLION) 165 15.2 ASIA PACIFIC 165 FIGURE 43 ASIA PACIFIC BRAKE SYSTEM MARKET SNAPSHOT 166 TABLE 124 ASIA PACIFIC: BRAKE SYSTEM MARKET, BY COUNTRY, 2018–2021 (‘000 UNITS) 166 TABLE 125 ASIA PACIFIC: BRAKE SYSTEM MARKET, BY COUNTRY, 2022–2027 (‘000 UNITS) 167 TABLE 126 ASIA PACIFIC: BRAKE SYSTEM MARKET, BY COUNTRY, 2018–2021 (USD MILLION) 167 TABLE 127 ASIA PACIFIC: BRAKE SYSTEM MARKET, BY COUNTRY, 2022–2027 (USD MILLION) 167 15.2.1 CHINA 168 15.2.1.1 Growing vehicle production to drive market 168 TABLE 128 CHINA: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (‘000 UNITS) 168 TABLE 129 CHINA: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (‘000 UNITS) 168 TABLE 130 CHINA: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (USD MILLION) 168 TABLE 131 CHINA: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (USD MILLION) 169 15.2.2 INDIA 169 15.2.2.1 Stringency in safety standards to drive market 169 TABLE 132 INDIA: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (‘000 UNITS) 169 TABLE 133 INDIA: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (‘000 UNITS) 170 TABLE 134 INDIA: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (USD MILLION) 170 TABLE 135 INDIA: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (USD MILLION) 170 15.2.3 JAPAN 170 15.2.3.1 Rising penetration of automatic braking systems to drive market 170 TABLE 136 JAPAN: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (‘000 UNITS) 171 TABLE 137 JAPAN: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (‘000 UNITS) 171 TABLE 138 JAPAN: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (USD MILLION) 171 TABLE 139 JAPAN: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (USD MILLION) 171 15.2.4 SOUTH KOREA 172 15.2.4.1 Government mandates for implementation of advanced brake systems to drive market 172 TABLE 140 SOUTH KOREA: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (‘000 UNITS) 172 TABLE 141 SOUTH KOREA: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (‘000 UNITS) 172 TABLE 142 SOUTH KOREA: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (USD MILLION) 172 TABLE 143 SOUTH KOREA: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (USD MILLION) 172 15.2.5 REST OF ASIA PACIFIC 173 TABLE 144 REST OF ASIA PACIFIC: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (‘000 UNITS) 173 TABLE 145 REST OF ASIA PACIFIC: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (‘000 UNITS) 173 TABLE 146 REST OF ASIA PACIFIC: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (USD MILLION) 174 TABLE 147 REST OF ASIA PACIFIC: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (USD MILLION) 174 15.3 EUROPE 174 FIGURE 44 EUROPE: BRAKE SYSTEM MARKET, BY COUNTRY, 2022 VS. 2027 175 TABLE 148 EUROPE: BRAKE SYSTEM MARKET, BY COUNTRY, 2018–2021 (‘000 UNITS) 175 TABLE 149 EUROPE: BRAKE SYSTEM MARKET, BY COUNTRY, 2022–2027 (‘000 UNITS) 175 TABLE 150 EUROPE: BRAKE SYSTEM MARKET, BY COUNTRY, 2018–2021 (USD MILLION) 176 TABLE 151 EUROPE: BRAKE SYSTEM MARKET, BY COUNTRY, 2022–2027 (USD MILLION) 176 15.3.1 GERMANY 176 15.3.1.1 Implementation of advanced emergency braking systems as standard fitment to drive market 176 TABLE 152 GERMANY: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (‘000 UNITS) 177 TABLE 153 GERMANY: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (‘000 UNITS) 177 TABLE 154 GERMANY: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (USD MILLION) 177 TABLE 155 GERMANY: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (USD MILLION) 177 15.3.2 FRANCE 178 15.3.2.1 Increasing penetration of disc brakes to drive market 178 TABLE 156 FRANCE: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (‘000 UNITS) 178 TABLE 157 FRANCE: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (‘000 UNITS) 178 TABLE 158 FRANCE: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (USD MILLION) 178 TABLE 159 FRANCE: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (USD MILLION) 178 15.3.3 SPAIN 179 15.3.3.1 Implementation of AEB in passenger cars to drive market 179 TABLE 160 SPAIN: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (‘000 UNITS) 179 TABLE 161 SPAIN: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (‘000 UNITS) 179 TABLE 162 SPAIN: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (USD MILLION) 179 TABLE 163 SPAIN: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (USD MILLION) 180 15.3.4 ITALY 180 15.3.4.1 Regulations mandating AEB to drive market 180 TABLE 164 ITALY: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (‘000 UNITS) 180 TABLE 165 ITALY: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (‘000 UNITS) 180 TABLE 166 ITALY: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (USD MILLION) 180 TABLE 167 ITALY: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (USD MILLION) 181 15.3.5 UK 181 15.3.5.1 Increasing adoption of ABS and ESC to drive market 181 TABLE 168 UK: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (‘000 UNITS) 181 TABLE 169 UK: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (‘000 UNITS) 181 TABLE 170 UK: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (USD MILLION) 182 TABLE 171 UK: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (USD MILLION) 182 15.3.6 REST OF EUROPE 182 TABLE 172 REST OF EUROPE: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (‘000 UNITS) 182 TABLE 173 REST OF EUROPE: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (‘000 UNITS) 182 TABLE 174 REST OF EUROPE: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (USD MILLION) 183 TABLE 175 REST OF EUROPE: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (USD MILLION) 183 15.4 NORTH AMERICA 183 FIGURE 45 NORTH AMERICA: BRAKE SYSTEM MARKET SNAPSHOT 184 TABLE 176 NORTH AMERICA: BRAKE SYSTEM MARKET, BY COUNTRY, 2018–2021 (‘000 UNITS) 184 TABLE 177 NORTH AMERICA: BRAKE SYSTEM MARKET, BY COUNTRY, 2022–2027 (‘000 UNITS) 185 TABLE 178 NORTH AMERICA: BRAKE SYSTEM MARKET, BY COUNTRY, 2018–2021 (USD MILLION) 185 TABLE 179 NORTH AMERICA: BRAKE SYSTEM MARKET, BY COUNTRY, 2022–2027 (USD MILLION) 185 15.4.1 US 185 15.4.1.1 Regulations to reduce stopping distance in commercial vehicles to drive market 185 TABLE 180 US: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (‘000 UNITS) 186 TABLE 181 US: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (‘000 UNITS) 186 TABLE 182 US: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (USD MILLION) 186 TABLE 183 US: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (USD MILLION) 186 15.4.2 CANADA 187 15.4.2.1 Mandatory features such as ABS and ESC to drive market 187 TABLE 184 CANADA: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (‘000 UNITS) 187 TABLE 185 CANADA: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (‘000 UNITS) 187 TABLE 186 CANADA: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (USD MILLION) 187 TABLE 187 CANADA: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (USD MILLION) 188 15.4.3 MEXICO 188 15.4.3.1 Free trade agreements promoting domestic production of brake system components to drive market 188 TABLE 188 MEXICO: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (‘000 UNITS) 188 TABLE 189 MEXICO: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (‘000 UNITS) 188 TABLE 190 MEXICO: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (USD MILLION) 189 TABLE 191 MEXICO: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (USD MILLION) 189 15.5 REST OF THE WORLD (ROW) 189 FIGURE 46 ROW: BRAKE SYSTEM MARKET, BY COUNTRY, 2022 VS. 2027 (USD MILLION) 190 TABLE 192 REST OF THE WORLD: BRAKE SYSTEM MARKET, BY COUNTRY, 2018–2021 (‘000 UNITS) 190 TABLE 193 REST OF THE WORLD: BRAKE SYSTEM MARKET, BY COUNTRY, 2022–2027 (‘000 UNITS) 190 TABLE 194 REST OF THE WORLD: BRAKE SYSTEM MARKET, BY COUNTRY, 2018–2021 (USD MILLION) 191 TABLE 195 REST OF THE WORLD: BRAKE SYSTEM MARKET, BY COUNTRY, 2022–2027 (USD MILLION) 191 15.5.1 BRAZIL 191 15.5.1.1 Setting up of local plants for brake system components to drive market 191 TABLE 196 BRAZIL: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (‘000 UNITS) 191 TABLE 197 BRAZIL: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (‘000 UNITS) 192 TABLE 198 BRAZIL: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (USD MILLION) 192 TABLE 199 BRAZIL: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (USD MILLION) 192 15.5.2 TURKEY 192 15.5.2.1 Lower manufacturing and labor costs to drive market 192 TABLE 200 TURKEY: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (‘000 UNITS) 193 TABLE 201 TURKEY: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (‘000 UNITS) 193 TABLE 202 TURKEY: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (USD MILLION) 193 TABLE 203 TURKEY: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (USD MILLION) 193 15.5.3 RUSSIA 194 15.5.3.1 Increasing adoption of disc brakes in LCVs to drive market 194 TABLE 204 RUSSIA: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (‘000 UNITS) 194 TABLE 205 RUSSIA: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (‘000 UNITS) 194 TABLE 206 RUSSIA: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (USD MILLION) 194 TABLE 207 RUSSIA: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (USD MILLION) 194 15.5.4 OTHERS 195 TABLE 208 OTHERS: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (‘000 UNITS) 195 TABLE 209 OTHERS: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (‘000 UNITS) 195 TABLE 210 OTHERS: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2018–2021 (USD MILLION) 195 TABLE 211 OTHERS: BRAKE SYSTEM MARKET, BY BRAKE TYPE, 2022–2027 (USD MILLION) 195 16 COMPETITIVE LANDSCAPE 196 16.1 OVERVIEW 196 16.2 KEY PLAYER STRATEGIES/RIGHT TO WIN 196 TABLE 212 COMPANIES ADOPTED NEW PRODUCT DEVELOPMENT AS KEY GROWTH STRATEGY, 2019–2021 196 16.3 REVENUE ANALYSIS OF TOP FIVE PLAYERS, 2019–2021 198 16.4 MARKET SHARE ANALYSIS 199 TABLE 213 MARKET STRUCTURE, 2021 199 FIGURE 47 BRAKE SYSTEM MARKET SHARE ANALYSIS, 2021 199 16.5 COMPETITIVE LEADERSHIP MAPPING 200 16.5.1 STARS 200 16.5.2 EMERGING LEADERS 200 16.5.3 PERVASIVE PLAYERS 200 16.5.4 PARTICIPANTS 200 FIGURE 48 COMPETITIVE LEADERSHIP MAPPING: BRAKE SYSTEM MANUFACTURERS 201 TABLE 214 BRAKE SYSTEM MARKET: COMPANY FOOTPRINT 202 TABLE 215 COMPANY TECHNOLOGY FOOTPRINT 203 TABLE 216 COMPANY REGION FOOTPRINT (19 COMPANIES) 204 16.6 COMPETITIVE LEADERSHIP MAPPING: OFF-HIGHWAY EQUIPMENT BRAKE SYSTEM MANUFACTURERS 205 16.6.1 STARS 205 16.6.2 EMERGING LEADERS 205 16.6.3 PERVASIVE PLAYERS 205 16.6.4 PARTICIPANTS 205 FIGURE 49 COMPETITIVE LEADERSHIP MAPPING: OFF-HIGHWAY EQUIPMENT BRAKE SYSTEM MANUFACTURERS 206 TABLE 217 OFF-HIGHWAY EQUIPMENT BRAKE SYSTEM MARKET: COMPANY FOOTPRINT 207 TABLE 218 COMPANY INDUSTRY FOOTPRINT (OFF-HIGHWAY EQUIPMENT) (12 COMPANIES) 208 TABLE 219 COMPANY REGION FOOTPRINT (OFF-HIGHWAY EQUIPMENT) (12 COMPANIES) 209 16.7 COMPETITIVE SCENARIO 209 16.8 NEW PRODUCT LAUNCHES 210 TABLE 220 NEW PRODUCT DEVELOPMENT, 2018–2022 210 16.9 DEALS, AGREEMENTS, PARTNERSHIPS, COLLABORATIONS, EXPANSION, AND JOINT VENTURES 213 TABLE 221 AGREEMENTS, PARTNERSHIPS, COLLABORATIONS, AND JOINT VENTURES, 2018–2022 213
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