Overview
The automotive braking system market will witness a healthy growth from 2018 to 2025, a research report suggests. Growing at a CAGR of 5.55%, the market is projected to reach US$35.9 billion by 2025. Rising demand for safety features in automobiles is expected to support the market growth along with the demand for safety features such as the anti-lock braking system (ABS). As predicted by analysts, the high cost of product and maintenance will negatively affect the market’s performance from 2018 to 2025. During the forecast period, the market will be supported by traction control and tire pressure monitors.
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The lack of skilled professionals on the other hand will challenge modern vehicles sector based organizations functioning in the global automotive braking system market. Analysts have split the market into brake system, component, vehicle type, and brake type segments based on products and services. Modern vehicles based companies have been profiled. The shifting preference for cheaper alternatives is set to affect the global market during the forecast period 2018 to 2025. The report also provides the market’s performance forecasts till 2025. Analysts have studied the strategy of modern vehicles segment based organizations to help new entrants and established businesses. The modern vehicles sector itself is supported by electronic stability control as well as technological advancements in safety features. During the forecast period 2018 to 2025, the automotive braking system market is set to witness a health growth across brake system, component, vehicle type, and brake type segments as well as regional markets.
Market Segmentation
The modern vehicles sector has seen growth across the brake system, component, vehicle type, and brake type segments owing to new and improved products for comfortable and safe driving and technical developments in vehicle safety features. To study the market, analysts have further segmented the brake system, component, vehicle type, and brake type into disc brake and drum brake on the basis of brake type. The market is further segmented into component sub segments which is split into brake drums, brake pad, calipers, disc, master cylinder, vacuum servo brake, and others. Additionally, the automotive braking system market on the basis of vehicle type is segmented into PCV, LCV, and HCV. The market is further segmented into the brake system sub segment which is split into ABS, ESC, TCS and others.
The segmental analysis presented in the report provides modern vehicles field based organizations insights into key growth factors such as the rising demand from different industry verticals as well as challenges such as unfavorable corporate policies the market will face from 2018 to 2025. The presence of untapped market opportunities and the presence of many untapped opportunities across the market are some of the key factors having an influence on modern vehicles industry based companies, suggest analysts as per the automotive braking system market report. But the report also identifies an undeveloped infrastructure and high initial investments as major threats companies in modern vehicles will face till 2025.
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Regional Overview
Modern vehicles market based companies in the automotive braking system market are functioning across North America, Europe, Asia Pacific, the Middle East, and Africa including the rest of the world. The rise in distribution channels will be a key growth driver for regional markets. However, the dearth of professional services will turn out to be a threat. For the forecast period 2018 to 2025 each of these regional markets are studied in the report. Starting from North America, the regional market and modern vehicles vertical based companies are spread across the United States, Canada, and Mexico. The slow demand from certain areas will turn out to be a major challenge from 2018 to 2025. Parts of the European market covered in the report are regional markets spread across the United Kingdom, France, Italy, and Germany. The market in the region will be benefitted by the rising developments in industrialization as well as the rising demand from different industry verticals, suggests the report. Similarly, the modern vehicles sector’s segmental analysis for the Asia Pacific region covers India, Japan, China, and others. For the rest of the world, the research report for the automotive braking system market covers the Middle East and Africa. Forecast based on the report’s findings are presented for the forecast period till 2025.
Competitive Landscape
The global automotive braking system market research report brings a comprehensive study of brake system, component, vehicle type, and brake type market segments, regional analysis, and modern vehicles vertical based company details of key players. As the forecast period 2018 to 2025 will bring new opportunities for the market owing to shifting trends in the consumer market and automation in industries, the market is set to grow at a compound annual growth rate of 5.55% and is predicted to reach a value of US$35.9 billion by 2025. With SWOT analysis of modern vehicles sector based companies and Porter’s Five Force model analysis based findings, and understanding challenges such as the lack of effective communication and dynamic policies and regulations, companies in the modern vehicles sector can change the way business is done.
Industry News
Hitachi Automotive Systems, Ltd. announced that KPS Capital Partners, LP has been granted a put-option contract to acquire 100% of Chassis Brakes International B.V. The proposed acquisition would not only improve Hitachi Automotive Systems' chassis as well as security systems technologies, as well as its motion control functionality across the entire vehicle, enabling the company to continue developing and integrating modernization, AD/ADAS innovations, and applications that lead to an environmentally sustainable society
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