North America Brake System Market Size, Share & Industry Trends Analysis Report By Technology, By Actuation, By Brake Type, By Vehicle Type (Passenger Car, Light-commercial Vehicles (LCV), Truck and Bus, By Country and Growth Forecast, 2022 - 2028
The North America Brake System Market would witness market growth of 4.5% CAGR during the forecast period (2022-2028).
The mechanical brake, which is operated by hand or foot in the majority of passenger cars, is used for parking and emergency brakes. These brakes either work on the back wheels, the transmission, or the shaft of the propeller. To the left of the driver, the brake lever is mounted beneath the instrument panel. A ratchet locks the lever into position when the brake is applied.
To stop a car, the brake system needs to work in many different ways. These components include the emergency brake, brake pedal, brake booster, master cylinder, brake pads, wheel speed sensors, and ABS control module. Four of the most prevalent types of breaks are created by these components working together. These include anti-lock brakes, emergency brakes, disc brakes, and drum brakes.
In this region, the National Highway Traffic Safety Administration (NHTSA) and the U.S. Environmental Protection Agency are the two government organizations in charge of overseeing the regulation of autos and auto parts (EPA). The NHTSA is in charge of car safety matters. Vehicle emissions are regulated by the EPA. As long as they do not clash with a federal requirement, states and local governments are free to create their own safety laws and regulations. Tougher car emissions rules may be established by the California Air Resources Board (CARB), which other states may subsequently adopt.
The US market dominated the North America Brake System Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $5,689.4 million by 2028. The Canada market is experiencing a CAGR of 6.9% during (2022 - 2028). Additionally, The Mexico market is exhibiting a CAGR of 5.9% during (2022 - 2028).
Based on Technology, the market is segmented into Antilock Braking Systems (ABS), Electronic Stability Control (ESC), Traction Stability Control (TCS) and Electronic Brakeforce Distribution (EBD) & Others. Based on Actuation, the market is segmented into Hydraulic and Pneumatic. Based on Brake Type, the market is segmented into Disc and Drum. Based on Vehicle Type, the market is segmented into Passenger Car, Light-commercial Vehicles (LCV), Truck and Bus. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Robert Bosch GmbH, Knorr-Bremse AG, Brembo S.p.A., Continental AG, Hitachi, Ltd. (Hitachi Astemo, Ltd.), Denso Corporation, ZF Friedrichshafen AG, Aisin Corporation, Haldex AB and Mando Corporation (Halla Group).
Scope of the Study
Market Segments covered in the Report:
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