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.
Automotive Disc Brake Market Analysis
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
Automotive Disc Brake Market Overview
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.
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Automotive Disc Brake Market: Strategic Insights
Market Size Value in US$ 15,485.3 Million in 2021 Market Size Value by US$ 20,016.4 Million by 2028 Growth rate CAGR of 3.7% from 2021-2028 Forecast Period 2021-2028 Base Year 2021
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Automotive Disc Brake Market: Strategic Insights
| Market Size Value in | US$ 15,485.3 Million in 2021 |
| Market Size Value by | US$ 20,016.4 Million by 2028 |
| Growth rate | CAGR of 3.7% from 2021-2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
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Automotive Disc Brake Market Drivers and Opportunities
Growing Norms for Reducing Fatalities Caused due to Vehicle Accidents
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.
Emergence of Self-Driving/Autonomous Vehicles
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.
Automotive Disc Brake Market Report Segmentation Analysis
Key segments that contributed to the derivation of the automotive disc brake market analysis are type, material type, and vehicle type.
- Based on type, the market is opposed piston type disc brake, and floating caliper type disc brake. Among these, floating caliper type disc brake has a largest share in 2023, owing to increased adoption in the passenger cars.
- Depending upon the material type, the market is divided into cast iron, aluminium, stainless steel, and others. Among these, aluminium is expected to have largest share in 2023, this is owing to its lightweight and higher reliability.
- Based on vehicle type, the market is divided into passenger vehicles, light commercial vehicles (LCVs), and heavy commercial vehicles (HCVs). Among these, passenger vehicles has a largest share in 2023, this is owing to increased passenger cars sale across the globe. According to the International Energy Agency, the passenger cars sale reached to 65.27 million in 2023, increased from 58.2 million units in 2022. Such, rapid growth in the sale of the passenger cars have created massive demand for the automotive disc brake market during the forecast period.
Automotive Disc Brake Market Share Analysis by Geography
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.
Automotive Disc Brake Market Report Scope
Automotive Disc Brake Market News and Recent Developments
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:
- ADVICS, the leader in advanced braking technology and member of the AISIN Group of companies, is expanding its brake rotor product line by adding approximately 28 million to its vehicle in operation (VIO) axle coverage. Each of the 67 brake rotors are certified high-carbon and fully coated, offering premium protection against rust and corrosion. (Source ADVICS News-letter, October 2022)
- ZF Aftermarket continues its expansion in India and the country becomes a hub for TRW's shock absorber manufacturing expertise through its manufacturing facility in the region. ZF Aftermarket made significant strides in expanding its product and solutions range for the Indian market by introducing TRW shock absorbers, brake pads, and brake discs. In line with its ‘Make in India’ for India commitment, ZF is now focused on fortifying its TRW shock absorber manufacturing capabilities in India, with a focus on cultivating a highly skilled talent pool to not only manufacture but also research, develop, and design in the country. (Source: ZF Friedrichshafen AG Newsletter, February 2024)
Automotive Disc Brake Market Report Coverage and Deliverables
The “Automotive Disc Brake Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Automotive disc brake market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Automotive disc brake market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST and SWOT analysis
- Automotive disc brake market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the automotive disc brake market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type , and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, South Africa, South Korea, United Kingdom, United States
Frequently Asked Questions
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.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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