The automotive sector holds majority of the share in the automotive and transportation industry. The brake system market for automotive, by type, is projected to reach USD 29.4 billion by 2020. The disc brakes segment is estimated to account for the largest share in the brake system market for automotive. This growth can be attributed to better efficiency and performance offered by disc brakes, when compared to drum brakes. However, the drum brakes segment still dominates the commercial vehicle segment.
Pune, India -- (SBWIRE) -- 10/29/2015 -- The report "Brake System - Global Forecast to 2020" classifies and defines the brake system market, in terms of value and volume. The report offers insights on the potential growth opportunities for the brake market in near future. This report also highlights market drivers, restraints, opportunities, challenges, competitive landscape, and other key aspects with regard to the brake market.
Browse 72 market data tables and 68 figures spread through 160 pages and in-depth TOC on "Brake System Market - Global Forecast to 2020"
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The brake system market for automotive, in terms of value, is projected to grow at a CAGR of 6.90% from 2015 to 2020.
Disc Brakes: Leading the brake system market for automotive
The automotive industry has witnessed rapid evolution over the past decade in terms of vehicle safety, as compared to previous stages in the history of the industry. This evolution has brought about significant changes in the industry, such as the advent of electrically assisted brake systems, and technologies such as ABS, ESC, TCS, EBD, regenerative braking, and brake-by-wire. The first key step towards the adoption of these technologies has been the widespread acceptance of disc brakes as the better option among the two main brake types. This led to an increasing penetration of disc brakes segment over that of drum brakes; the brake system market for automotive has now reached a point where the disc brake market is a dominant segment. This trend is projected to continue during the next five years, with the market presence of disc brakes expected to strengthen further, while the application of drum brakes is expected to be restricted to the lower-end of the market.
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Asia-Oceania is estimated to account for the largest share of disc brake market in 2015. This growth can be attributed to the large number of automobiles manufactured in this region as well as the improved efficiency and better performance offered by disc brakes. The global disc brake market is projected to go grow at a promising CAGR from 2015 to 2020. As of 2015, the disc brake market is estimated to dominate the passenger car vehicles followed by LCVs and HCVs.
In this report, the brake system market has been categorized into six segmentations. The report also provides a competitive landscape, value chain analysis, PEST analysis, Porter's Five Forces analysis, product life cycle, key suppliers, and their customers. It provides market overview and covers the technical aspects of brake systems. In addition to this, 10 key players in the brake system market have been profiled in the report, along with SWOT analysis.
In this report, the market size of brake system is provided in terms of volume as well as value. In terms of volume, the market size has been calculated in thousand units ('000) from 2013 to 2020, whereas the market size, in terms of value has been calculated in USD million for the same period. The report covers brake system market in key countries of Asia-Oceania, Europe, North America, and RoW (rest of the world).
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