Dallas, TX -- (SBWIRE) -- 12/09/2013 -- The report "Automotive Brake System Market By Geography, Brake Type (Disc, Drum), Vehicle Type (Passenger Cars, Light & Heavy Commercial, Two Wheelers) & Technology (Electronically Assisted & Others)—Global Trends & Forecast to 2018";, defines and segments the automotive brakes market with analysis and forecasting of the global volume and revenue. Automotive brakes market is predicted to grow to $28,532 million by 2018, as compared to $20,210 million in 2013, with a CAGR of 7.14% from 2013 to 2018. In this, drum brakes are expected to occupy the major share when compared to disc brakes systems during the next five years. However, the demand for disc brakes is estimated to increase at a faster rate and disc brakes are forecasted to slowly surpass the drum brakes market.

Asia-Pacific: The leading market for automotive brakes

In the year 2013, Asia-Pacific region is estimated to be the largest market for automotive brakes and would remain top consumer till the year 2018. The European market would be the second largest consumer for automotive brakes in the year 2013, whereas, North America is expected to be the third largest automotive brake consumers in the same year. The demand trend is predicted to remain the same till 2018; however, demand for automotive brakes in Asia-Pacific and North American regions is estimated to grow at the faster rates than in the European region.

Browse 154 market data tables with 41 figures spread through 390 pages and in-depth TOC Automotive Brake System Market — Global Trends & Forecast to 2018

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The automotive industry has always been associated with advancements and complexity in various technologies. Technology is the backbone of the automobile industry. With increase in the demand for automobiles, the competition across automotive manufacturers has also increased. Each manufacturer, to sustain its market share, is focusing on the rapid innovations in technologies. The R&D expenditure of automotive companies has shown a significant increase in the past few years. According to the report published by European Automobile Manufacturer’s Association, aggregate amount of 4% of the automotive industry’s turnover in Europe, is spent for R&D over the past decade. This substantiates the overall spending on R&D in this industry. The R&D expenses are accompanied with advancements in the technology with increased complexity. However, the progressions in the technologies are usually associated with increased prices. At some places, while maintaining the balance between technology and cost, there is a possibility of regulation violation. Hence, offering cost-effective technology advancement, compatible with regulations is a task for automotive industry. Till date, the industry is putting its best efforts to deliver the customer-centric products which are equally accepted by regulatory authorities.

The regulations and customer preference are the two key factors which fuel the technology improvements. The need of personal transportation and improved infrastructure has raised the demand for passenger cars, whereas reason such as enhanced buying power, raised per capita income and improved standard of living has increased the demand for premium cars. Alternatively, increasing construction activities and industrialization is increasing the demand for commercial vehicles. This increase in demand for vehicle has led to increased air emissions, resulting in violation of environmental regulations for air emissions. To meet these regulation demands, the automotive manufacturers have shifted from conventional carburetors to fuel efficient fuel injection systems. The next step was to shift towards eco-friendly or green-technology, which was achieved by electric vehicles using advanced lithium-ion batteries.

The advancements in powertrain technology have significantly increased the average vehicle speed. To control these speed machines, new brake types (such as ceramic disc brakes) and brake systems (such as Electronic Stability Control (ESC), Autonomous Emergency Braking (AEB) and Anti-Lock Brakes (ABS) etc.) are introduced. The regulations concerned with safety as well as environment are introduced in terms of reduced stopping distances, mandates on ESC/ABS/AEB and most importantly use of Non-Asbestos Organic (NAO) brake pads. This has altered the brake market. With brakes, the need for lights is equally important for vehicles. The automotive lighting has evolved from simple incandescent lights to present day LED and xenon lights with long-life and minimized energy consumption. The safety regulations for automotive lighting such as Daytime Running Lamps (DRLs), positioning of lights, adaptive emergency brake lights, adaptive front lighting etc. is fuelling the growth of innovative products in this market.

There are certain technologies (such as start-stop, displacement on demand (DOD)) from the industry which did not gain the admiration, primarily due to their cost. These technologies have proved their efficiency in terms of displacement, fuel consumption, however due to certain reasons (for instance battery change and engine setup modification is required for start-stop system, or sensors and deactivation mechanism required for DOD) these technologies could not gain attention with time.

The aforementioned information propose that the cost-effective technologies which have proved their efficiency, are always been accepted by the buyers. In addition, certain regulations have encouraged the development and implementation of advanced technologies. Hence, such technologies, which while adhering to the norms and regulations, are also cost-effective and hence preferred by the buyers, will always be sustained by the automotive industry.

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