Automotive Braking System

Automotive Braking System

Global Automotive Braking System Market to Reach $31.1 Billion by 2027

In the changed post COVID-19 business landscape, the global market for Automotive Braking System estimated at US$22.3 Billion in the year 2020, is projected to reach a revised size of US$31.1 Billion by 2027, growing at a CAGR of 4.9% over the analysis period 2020-2027. Antilock Braking System (ABS), one of the segments analyzed in the report, is projected to record a 4.6% CAGR and reach US$10.8 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Traction Control System (TCS) segment is readjusted to a revised 4% CAGR for the next 7-year period.

The U.S. Market is Estimated at $6.1 Billion, While China is Forecast to Grow at 7.5% CAGR

The Automotive Braking System market in the U.S. is estimated at US$6.1 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$6.3 Billion by the year 2027 trailing a CAGR of 7.4% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.7% and 4.4% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$4.1 Billion by the year 2027.

Electronic Stability Control (ESC) Segment to Record 5.6% CAGR

In the global Electronic Stability Control (ESC) segment, USA, Canada, Japan, China and Europe will drive the 5.6% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$5.4 Billion in the year 2020 will reach a projected size of US$7.7 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Latin America will expand at a 6.8% CAGR through the analysis period.

Select Competitors (Total 43 Featured) -

• Aisin Seiki Co, Ltd.
• Akebono Brake Industry Co. Ltd.
• Brembo S.P.A.
• Continental AG
• Halla Mando Corp.
• Knorr-Bremse AG
• Robert Bosch GmbH
• TRW Automotive Holdings Corp.
• Wabco Holdings, Inc.
• ZF Friedrichshafen AG

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