The automotive disc brake market size is projected to reach US$ 23,200.81 million by 2031 from US$ 16,789.44 million in 2023. The market is expected to register a CAGR of 4.1% during 2023–2031. Increasing adoption of the self-driving autonomous vehicles across the globe are likely to remain key trends in the market. The self-driving cars are gaining traction across the developed countries such as the US, Canada, Germany, and UK. Rising penetration of the connected vehicles and adoption of the self-driving cars across the globe is key driving factor in the market.
The key stakeholders in the global automotive disc brake market ecosystem include hardware/component providers, automotive disc brake manufacturers, standards & regulatory framing bodies, and end users. Component/hardware providers provide various components/parts/raw materials to disc brake manufacturers for manufacturing of the end-product. Brake pads, bleeder screw, calipers, rotors, and hardware. In addition to the key ecosystem players, there are several other peripheral stakeholders involved in the market which play a crucial role in enabling the growth and technology advancements related to automotive disc brake. The rising number of road accidents due to vehicle is creating need for safety regulations which is encouraging the need for for braking system rules and road safety. Some of these stakeholders include government agencies, industry associations, technology standards organizations, and regulatory bodies among many others growth of global automotive disc brake market. The major end-users of the automotive disc brake market include passenger cars and commercial vehicles
The disc brake is made up with cast iron, aluminum, stainless steel, and many more. Some of the key market players/manufacturers in the global automotive disc brake market includes Thermo Fisher Scientific Inc., Brembo S.P.A, Continental AG, Knorr-Bremse Group, and Robert Bosch GmbH among many others. Automotive disc brakes are majorly utilized in passenger cars, however, owing to their stable performance at resistance to brake and higher speeds, they are getting spread into a commercial vehicle segment. In commercial vehicles, drum brakes are getting replaced with disc brakes as they provide higher quality and longer service life. Companies such as Akebono also offers disc brakes.
The rising sales of both passenger cars and commercial vehicles is fostering the brakes market growth globally. The increasing demand for vehicles is positively impacting the production cycle of the same across the globe. As the demand for vehicles is increasing, the formation of regulatory mandates for making the vehicles safer is rising. This is leading to a surge in demand for brakes. The penetration of anti-lock braking system and electronic stability control is expanding. Therefore, government bodies of countries such as India, have taken a step in regulating safety critical components within commercial vehicles and passenger vehicles, which has resulted into a rise in demand for anti-lock braking systems.
Auto manufacturers and tech companies are involved in the development of sophisticated technologies that enable automobiles to drive themselves. In the race of testing self-driving vehicles, Google is leading the race, followed by Audi, Toyota, and Mercedes-Benz. Moreover, the Institute of Electrical and Electronics Engineers (IEEE) foresees that the self-driving vehicles will approximately account for up to 75% of vehicles on the road by 2040. The self-driving car industry is anticipated to benefit the development cycle of braking technologies. In addition to the rising emergence of self-driving vehicles, changing government regulations and collaborations are some of the major trends which would support transforming the automotive industry. Due to government regulations made for the safety of drivers and passengers, there are at least 47 cities globally that are piloting self-driving cars in the current scenario. With the emergence of self-driving/autonomous vehicles, the market for braking systems will continue to evolve.
Key segments that contributed to the derivation of the automotive disc brake market analysis are type, material type, and vehicle type.
The geographic scope of the automotive disc brake market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
Asia Pacific is expected ti have largest share in 2023, this is owing to increased automotive component production across China, India and Japan. These countries are investing ample amount in the automotive component production to meet growing demand for the new vehicles across the globe. According to the International Energy Agency, the Asia Pacific region’s automotive production reached to 51.8 million in 2023 increased by 10% year-on-year. The robust automotive production occurs in India, China and Japan. Such, growth in the automotive production in Asia Pacific region drives the automotive disc brake market growth during the forecast period.
The regional trends and factors influencing the Automotive Disc Brake Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Automotive Disc Brake 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 2023 | US$ 16,789.44 Million |
| Market Size by 2031 | US$ 23,200.81 Million |
| Global CAGR (2023 - 2031) | 4.1% |
| Historical Data | 2021-2022 |
| Forecast period | 2023-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Automotive Disc Brake 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 Disc Brake Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The automotive disc brake 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 disc brake market are listed below:
The “Automotive Disc Brake Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
Asia Pacific is expected to dominate the automotive disc brake market in 2023.
Growing norms for reducing fatalities caused due to vehicle accidents drives the market growth.
Rising penetration of the connected vehicles and adoption of the self-driving cars across the globe is key driving factor in the market.
Thermo Fisher Scientific Inc., Brembo S.P.A, Continental AG, Knorr-Bremse Group, and Robert Bosch GmbH among many others.
The automotive disc brake market size is projected to reach US$ 23,200.81 million by 2031 from US$ 16,789.44 million in 2023.
The market is expected to register a CAGR of 4.1% during 2023–2031.