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
Dallas, TX -- (SBWIRE) -- 12/08/2014 -- 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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EBS: gaining market share in the brake industry
Considering automotive brakes demand by technology, (electronic brake system and non-electronic brake system vehicles), the vehicles with electronic brake assistance systems (EBS vehicles) are estimated to constitute gain the market share over vehicles with no electronic brake assistance in the next five years. The reasons such as increasing safety regulations, changing buyer preferences towards more safe and luxurious cars, zest to provide more advanced features in an automobile due to inter-company competition of automobile manufacturers etc. are influencing the demand for electronically assisted brakes.
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Disc brakes to go beyond drum brakes market in next few years
The growing concerns over vehicle & passenger safety, stringent environmental & safety regulations and advantages of disc brakes over drum brakes have made the companies to consider disc brakes in all vehicle segments. Disc brake technology has better heat dissipation efficacy, light weight, more effective in all-weather conditions and lesser stopping distance hence they are considered more reliable than drum brakes and all these benefits can be availed with not much additional cost. Due to all aforesaid reasons disc brakes have already started gaining a significant market share over drum brakes across the regions. However, penetration of disc brakes in the commercial vehicle segments is limited in the European region only, whereas other regions prefer disc brakes in passenger vehicle segment only.
Passenger cars prominent market for automotive brakes
Due to increasing population, improved lifestyle, and standard of living, the demand for passenger cars has increased significantly in past few years. Mass production techniques & lower manufacturing costs, cheap labor available in developing countries and greater benefits offered by vehicle manufacturers due to increasing inter-company competitions; have boosted this demand for passenger cars on a larger scale. Many of the vehicle manufacturers and thereby OEM providers are shifting their focus towards developing regions of the world. This has helped the automotive brakes market to grow in developing countries. On the contrary, the demand for light or heavy commercial vehicles is limited and hence the demand for brakes used in commercial vehicles would grow at a slower rate.
The report also touches on various other important aspects of the automotive brakes market. It includes an analysis of the value chain, Porters five forces analysis, and the competitive landscape. In addition, 20 key players of this market have also been profiled.
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