Global Automotive Braking System Market 2017-2021
About Automotive Braking System
An automotive braking system is a group of hydraulic, electronic, and mechanical components actively used to stop a moving vehicle. The braking system in a vehicle converts the kinetic energy of the wheels into thermal energy produced by the brake thus stopping the vehicle. The speed of a vehicle is inversely proportional to the friction applied on the vehicle, which in turn is directly proportional to the braking of the vehicle.
Technavio’s analysts forecast the global automotive braking system market to grow at a CAGR of 2.88% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global automotive braking system market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Automotive Braking System Market 2017-2021
Technavio recognizes the following companies as the key players in the global automotive braking system market: Bosch, Continental, ZF Friedrichshafen, WABCO, and Brembo.
Other Prominent Vendors in the market are: DENSO, Bendix, Jiaozuo Brake, Nissin Brake, and Federal-Mogul Motorparts.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is integration of air disc brakes in commercial vehicles. The commercial vehicle mostly prefers pneumatic systems as they help in proper braking with heavy loads and carriages compared to conventional hydraulic systems. Air disc brakes are the innovation in the global automotive braking system market capturing the commercial vehicle segment.”
According to the report, one driver in the market is increasing demand for safety measures to reduce accidental injuries. Rising number of road accidents in middle and low-income countries continue to demand highly efficient vehicle safety systems. Globally NCAP ratings and crash tests have become very stringent in terms of vehicle safety features. Hence the automotive manufacturers are facing a high demand from government agencies for safer braking systems for the vehicles. This has led to innovations and increased demand in the market.
Further, the report states that one challenge in the market is high dependency on advanced systems leading toward unreliability over these systems. With advancements in technology, its complexity and design faults have also increased. Although with the electrification of braking technologies, the automotive industry is taking a leap, the durability and reliability of such systems often become causes of concern. For instance, in 2015, the Japanese automaker, Subaru, called back more than 70,000 vehicles from the US. This recall was done to fix a faulty braking system.
Bosch, Continental, ZF Friedrichshafen, WABCO, Brembo, DENSO, Bendix, Jiaozuo Brake, Nissin Brake, and Federal-Mogul Motorparts.