The automotive brake components market is expected to register a CAGR of 4.5% during 2023–2031. The market is witnessing a focus on future technology trends and upcoming technologies in the automotive brake system industry, including advancements in autonomous vehicle brake systems such as a focus on redundancy, fail-safe mechanisms, and ensuring reliable braking performance for autonomous vehicles.
The automotive brake components market has an aftermarket that also includes supplies of components for replacements and upgrades for routine or regular vehicle maintenance, modifications, remodeling, and specific upgrades. The aftermarket has established itself as a key and growing entity in the automotive brake components market. The dynamic market for automotive brake components evolves in line with the development of new vehicle technologies and safety standards.
The automotive brake components market includes the manufacturing, distribution, and sale of brake components and parts of braking systems in vehicles – they include brake pads or linings, brake shoes, brake calipers, brake rotors, brake drums, brake fluid, braking system sensors, etc for passenger cars, commercial vehicles, and off-highway vehicles. The market is characterized by continuous technological innovations and developments for better and upgraded brake components that provide better carrying and stopping capacity for vehicles.
The increasing concern for vehicle safety and the growing need for sophisticated braking systems are driving the automotive brake components market. The surge in road traffic and vehicle ownership across the world has led to a greater awareness of the requirement for advanced forceful braking systems. Regulatory enforcement leading to the installation of certain high-end safety features mandated by the government has also added impetus to the size of this market. Increasing production of EVs and hybrids has further broadened this market since these vehicles also require parts and components specific to them. Technological advancements in vehicle design aided by the use of lightweight and strong brake materials that enhance the performance of the hitherto simple parts, also propel this market.
The automotive brake components market offers enormous prospects for growth and innovation. Owing to the growth in the production of vehicles and the increasing trend towards the manufacturing of electric and hybrid vehicles, there is demand for advanced brake components that not only provide better efficiency but also help in making vehicles more environment-friendly. Furthermore, the focus on vehicular safety and the integrity of modern vehicles with the proliferation of advanced driver assistance systems (ADAS) offers opportunities for the integration of smart braking technologies such as regenerative braking and autonomous emergency braking systems. The aftermarket segment of the automotive brake components market also offers immense opportunities given the demand for the replacement and overhauling of brake components in existing vehicles. The development of high-performance materials and advanced manufacturing processes will open up great opportunities for providing the automotive industry with high-quality and low-cost brake components with requisite performance.
Key segments that contributed to the derivation of the automotive brake components market analysis are product and vehicle type.
The Automotive Brake Components Market Report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America. Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering automotive brake components market dynamics such as drivers, trends, and opportunities that are impacting the markets at the regional level. Also, the report covers PEST analysis, which involves the study of major factors that influence the automotive brake components market in these regions.
The regional trends and factors influencing the Automotive Brake Components Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Automotive Brake Components Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2024 | US$ XX million |
| Market Size by 2031 | US$ XX Million |
| Global CAGR (2025 - 2031) | 4.5% |
| Historical Data | 2021-2023 |
| Forecast period | 2025-2031 |
| Segments Covered |
By Product
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Automotive Brake Components Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Automotive Brake Components Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The automotive brake components market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the automotive brake components market are listed below:
The “Automotive Brake Components Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
The List of Companies
1. Aisin Seiki Co., Ltd.
2. Akebono Brake Corporation
3. Brembo S.p.A.
4. Hella Pagid GmbH
5. Hitachi, Ltd.
6. Hyundai Mobis
7. Nisshinbo Holdings Inc.
8. Robert Bosch GmbH
9. Valeo
10. ZF Friedrichshafen AG
The market is witnessing a focus on future technology trends and upcoming technologies in the automotive brake system industry.
The global automotive brake components market is expected to grow at a CAGR of 4.5% during the forecast period 2023 - 2031.
The market is witnessing a focus on future technology trends and upcoming technologies in the automotive brake system industry.
The leading players operating in the automotive brake components market are Aisin Seiki Co., Ltd. (Japan), Akebono Brake Corporation (Japan), Mando Corporation (South Korea), and Hitachi Automotive Systems Ltd. (Japan).
Some of the customization options available based on request are additional 3–5 company profiles and country-specific analysis of 3–5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
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