What is Brake System - Global Market?
The Brake System - Global Market is a comprehensive study of the worldwide market for brake systems. This market encompasses all types of braking systems used in vehicles, including disc brakes and drum brakes. Disc brakes are a type of brake that uses calipers to squeeze pairs of pads against a disc or "rotor" to create friction. This action slows the rotation of a shaft, such as a vehicle axle, either to reduce its rotational speed or to hold it stationary. On the other hand, drum brakes work on the same principle of creating friction to slow down or stop the rotation of a vehicle's wheels, but they do this by pressing brake shoes against the inside of a rotating drum. The global market for these brake systems is vast and varied, with different regions and vehicle types having different demands and preferences.
Disc Brakes, Drum Brakes in the Brake System - Global Market:
The Brake System - Global Market is not just about the types of brakes, but also about where and how they are used. The market is segmented into different vehicle types, mainly passenger vehicles and commercial vehicles. Passenger vehicles are the most common type of vehicles on the roads, and they include cars, SUVs, and minivans. These vehicles typically use disc brakes due to their superior stopping power and heat dissipation. Commercial vehicles, on the other hand, include trucks, buses, and other heavy-duty vehicles. These vehicles often use drum brakes because they are more durable and cheaper to maintain. The use of brake systems in these vehicles is crucial for safety, and the global market reflects this importance.
Passenger Vehicle, Commercial Vehicle in the Brake System - Global Market:
The outlook for the Brake System - Global Market is promising. In 2022, the market was valued at US$ 12210 million, and it is expected to grow to US$ 15050 million by 2029. This represents a compound annual growth rate (CAGR) of 3.0% during the forecast period from 2023 to 2029. The market is dominated by a few key players, including Knorr-Bremse, Wabco, Haldex, Nabtesco-Automotive, and Sorl Auto Parts. These companies collectively hold about 60% of the market share. The Asia-Pacific region is the largest market for brake systems, accounting for about 57% of the global market share. This is likely due to the high number of vehicles in this region, both passenger and commercial.
Brake System - Global Market Outlook:
In conclusion, the Brake System - Global Market is a dynamic and growing market. It encompasses a wide range of products and applications, from disc brakes for passenger vehicles to drum brakes for commercial vehicles. The market is expected to grow steadily over the forecast period, driven by the ongoing need for safe and effective braking systems in vehicles. The market is dominated by a few key players, but there is room for other companies to make their mark. The Asia-Pacific region is the largest market, but other regions also hold significant market shares.
| Report Metric | Details |
| Report Name | Brake System - Market |
| Forecasted market size in 2029 | US$ 15050 million |
| CAGR | 3.0% |
| Forecasted years | 2023 - 2029 |
| Global Brake System market, by region: |
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| Global Brake System market, Segment by Type: |
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| Global Brake System market, by Application |
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| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
