Automotive Brake System Market

The automotive brake system market is estimated to grow from USD 23.5 billion in 2023 to USD 30.1 billion by 2028, at a CAGR of 5.1% during the forecast period. The base year for the report is 2022, and the forecast period is 2023 to 2028.

The market is expected to witness rapid growth with the implementation of safety standards in developing countries, particularly China, India, Brazil, etc. Also, the popularity of disc brakes over drum brakes due to their technical benefits drives the automotive brake system market. Further, the growing implementation of country-wise new car assessment programs is anticipated to drive safety features such as electronic braking systems. Lastly, growing sales of premium and luxury vehicles are boosting the electronic braking system market.

Major Automotive Brake System Market Companies include

• Robert Bosch GmbH (Germany),
• ZF Friedrichshafen AG (Germany),
• Continental AG (Germany),
• AISIN Seiki Co, Ltd. (Japan),
• Knorr-Bremse AG (Germany),
• Brembo S.p, A (Italy),
• Akebono Brake Industry Co., Ltd. (Japan)

These companies focus on developing new products, adopting expansion strategies, and undertaking collaborations, partnerships, and mergers & acquisitions to gain traction in this growing brake system market.

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Robert Bosch GmbH (Germany)

Robert Bosch GmbH (Bosch) is a leading global supplier of technology and services. Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology are its four business sectors. The company is also a major IoT vendor, providing cutting-edge solutions for smart homes, Industry 4.0, and linked transportation. As an original equipment provider, Bosch is involved in a wide range of operations, which are arranged into six divisions. Other activities include two-wheelers, commercial and off-highway vehicles, and engineering and software services. Bosch consists of about 440 subsidiaries and regional firms in around 60 countries. With over 128 locations worldwide, the company has approximately 421,338 employees as of December 31, 2022. In 2022, the company invested 8.2% of its annual revenue in Research and Development activities. Bosch strategically emphasizes a combination of organic and inorganic advancements. The collaborative initiative with Ford to showcase automatic driving and parking capabilities in the United States is anticipated to enhance the visibility and acceptance of Bosch's cutting-edge braking system portfolio within the automotive sector, establishing a noteworthy standard. Bosch's Electronic Stability Program (ESP) has garnered significant acclaim for its technical advantages. Although introduced in 1995, Bosch has consistently refined its anti-skid system, resulting in the production of over 250 million ESP systems to date. This innovation has become a standard feature in modern cars, with 80-85% of all new vehicles worldwide being equipped with ESP in 2021.

Continental AG (Germany)

Continental AG is a German multinational corporation focusing on the production of a wide range of automotive components, including tires, brake systems, vehicle electronics, automotive safety features, powertrain elements, chassis components, tachographs, and various other components catering to the automotive and transportation sectors. Continental AG operates through four segments: Automotive, Tires, ContiTech, and Contract Manufacturing. The Automotive segment is divided into two subsegments: Autonomous Mobility & Safety and Vehicle Networking & Information. The Autonomous Mobility & Safety subsegment develops, produces, and integrates active and passive safety technologies and vehicle dynamics. This subsegment is divided into four business units: ADAS, Hydraulic Brake Systems, Passive Safety and Sensors, and Vehicle Dynamics. Continental AG is in 57 countries with 519 locations for production, research and development, and administration. Continental AG follows a strategy of partnerships and acquisitions to improve its product portfolio and strengthen its position in the market. For instance, in March 2023, Continental AG and ITT Inc. signed a 10-year strategic partnership agreement with ITT Inc. Under this agreement, ITT Inc. will supply brake pads to Continental AG. During This 10-year agreement, it is expected to generate revenue of USD 1 billion. Continental AG also has a strong presence in the European and North American regions, with a developed automotive brake system solutions market.

ZF Friedrichshafen AG (Germany)

ZF Friedrichshafen AG (ZF) is one of the leading suppliers of automotive drivelines, chassis, and active and passive safety technologies. It operates its business through nine divisions: Active Safety System, Electrified Power Technology, Car Chassis Technology, Commercial Vehicle Technology, Industrial Technology, Electronics and ADAS, Aftermarket,  and Passive Safety System, along with corporate functions. The Active Safety System segment is involved in developing, producing, and selling brake systems and components. This segment offers foundation brakes, brake controls, rack drives, and column drives. The acquisition and integration of WABCO in ZF have substantially expanded the company's commercial vehicle expertise and technical aftermarket portfolio. The company manufactures products for automobiles and non-automotive applications, including cars, buses, light commercial vehicles, trucks, motorcycles, motorsport vehicles, construction machinery, agricultural vehicles, ships, wind turbines, construction vehicles, and material handling vehicles. ZF Friedrichshafen AG has strongly focused on building supply contracts with major OEMs. For instance, in July 2023, ZF's Commercial Vehicle Solutions (CVS) division entered into a long-term partnership with Volta Trucks, a prominent and innovative manufacturer and service provider of all-electric commercial vehicles. This collaboration focuses on key systems and components for the electric Volta Zero.

Related Reports:

Automotive Brake System Market by Type (Disc, Drum), Technology (ABS, ESC, TCS, EBD, AEB), OHV Brakes (Hydraulic Wet, Hydrostatic, Dynamic), On & Off-Highway Vehicles & Electric Vehicles, Component, Actuation and Region - Global Forecast to 2028

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