Increase in demand for safety features in automobiles, technological advancements in safety features.

Automotive Brake System Market by Type (Disc and Drum), Technology (Antilock Braking System (ABS), Traction Control System (TCS), Electronic Stability Control (ESC), and Electronic Brake Force Distribution (EBD)), Vehicle Type (Passenger ICE Vehicle, Commercial ICE Vehicle, and Electric Vehicle), and Sales Channel (OEM and Aftermarket): Global Opportunity Analysis and Industry Forecast, 2019–2026.” According to the report, the global automotive brake system industry was estimated at $22.03 billion in 2018, and is expected to hit $38.48 billion by 2026, registering a CAGR of 7.5% from 2019 to 2026.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐍𝐨𝐰: www.alliedmarketresearch.com/request…ple/A06012

Rise in demand for safety features in automobiles, technological advancements in safety features, and stringent government mandates for vehicle safety are the factors that significantly impact the market growth. However, according to the automotive brake system market analysis, high installation and maintenance costs restrain the growth of the market. In addition, development of advanced braking systems for two wheelers and expansion in untapped markets of developing countries possess remarkable growth opportunities for the global market players.

Based on type, the drum segment contributed to nearly three-fifths of the global automotive brake system marketrevenue in 2018, and is expected to retain its dominance by the end of 2026. In addition, the segment would register the fastest CAGR of 8.2% throughout the forecast period. Drum brake provides more braking force and have increased friction contact area than disc brakes which drives the growth of the market.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰: www.alliedmarketresearch.com/automot…se-options

Expansion in the untapped market of developing countries like India, Indonesia, and Brazil can bring further opportunities to the players in the automotive brake system market. According to India Today Magazine, in India, over 147,913 people were killed in road accidents in 2017 alone, which made it mandatory for the Indian government to implement safety measures for vehicles. Safety systems like anti-lock braking system (ABS) and electronic stability control (ESC) are in urgent demand in these countries, owing to growing accident rate. India and Indonesia have the highest number of two wheelers in the world after China. These regions offer potential growth opportunities for market players for innovations in automotive brake system for automobiles.

𝐏𝐫𝐨𝐦𝐢𝐧𝐞𝐧𝐭 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬

The key players analyzed in this report are Aisin Seiki Co., Ltd., Autoliv Inc., Continental AG, Delphi Technologies, Denso Corporation, Nissin Kogyo Co., Ltd, Robert Bosch GmbH, WABCO, ZF Friedrichshafen AG, and others.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: www.alliedmarketresearch.com/purchas…iry/A06012

Based on sales channel, the aftermarket segment accounted for more than half of the global automotive brake system market share in 2018, and is anticipated to rule the roost during the study period. In addition, the segment is anticipated to manifest the fastest CAGR of 8.0% from 2019 to 2026. The continuous improvement and innovation in the automotive end user attracts a wide range of customers which in turn augments the growth of the segment.

𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘

• By type, the drum segment is anticipated to grow at a lucrative growth rate.
• By technology, the traction control system (TCS) segment was the highest revenue contributor in 2018.
• By region, Asia-Pacific is anticipated to exhibit the highest CAGR during the forecast period of automotive brake system industry.
• By region, Asia-Pacific contributed highest market revenue in 2018, and is anticipated to maintain its lead during the automotive brake system market forecast period.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

Based on region, Asia-Pacific held the largest share in 2018, garnering more than half of the global automotive brake system market. Furthermore, the region is projected to manifest the fastest CAGR of 8.1% by 2026. Growing demand for safety features, government mandates for safety features makes Asia-Pacific the fastest growing region. On the other hand, North America is anticipated to manifest the CAGR of 6.2% by 2026.