Automotive Supportive Brake Components Market by Size, Share, Demand, Regional Analysis by 2027

• The braking system is an important part of the vehicle. Every modern vehicle is fitted with a brake on all four wheels, which are operated by the hydraulic system. The brakes are primarily of two types: Disc brake and drum brake. The front brakes offer more advantage than the rear brake system while braking the vehicle as it is likely to cause the passenger to move forward and hence, more amount of braking is required on the front side. Consequently, the front wheels are fitted with the disc brake, while the rear wheels are equipped with the drum brake.
• The supportive brake components comprise the brake caliper, brake pads, brake liner, and brake shoes. These components constitute the brake system, which helps to stop the vehicle or reduce vehicle speed. Currently, the electronic brake system, which includes the anti-lock brake system and electronic traction control, are being incorporated in vehicles. This controls the speed of the vehicle with the help of electronic control unit and speed sensors.

Key drivers of automotive supportive brake components market

• Every vehicle manufacturer’s primary aim is to provide safety in the vehicle, which is expected to be a key factor that drives the automotive supportive brake components market. Rise in demand for vehicles across the globe is also likely to fuel the automotive supportive brake components market. Governments across the globe have compelled automakers to fit anti-lock braking system in every vehicle manufactured after 2017.

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Increase in number of passenger cars is projected to boost the adoption of the disc brake, which in turn is likely to propel the automotive supportive brake components market. Demand for advance braking system, including electronic stability control system, is significantly high, as the electronic stability control system applies brakes on the individual wheel and helps reduce the power of the engine and subsequently help to control the vehicle speed.

• In February 2017, ZF Friedrichshafen AG with the Brakes India Limited jointly developed the electronic parking brake system, which is driven by a motor that applies brakes to the rear wheel. Demand for such systems is rising and every vehicle manufacturer is focused on the development of such advance safety system, which in turn is estimated to propel the automotive supportive brake components market.

Asia Pacific & Europe to hold prominent share of global automotive supportive brake components market

• Rise in production of vehicle in Asia Pacific is attributed to the dominant position held by the region in the global automotive supportive components market. The Government of India has prompted manufacturers to integrate anti-lock brake system in every vehicle from April 2019. This regulation is projected to boost the automotive supportive brake components market in the country. Demand for vehicles in China is high due to economic stability and a rise in disposable income of people, which in turn is likely to propel the automotive supportive brake components market in China.

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• Following Asia Pacific, Europe held a significant share of the global automotive supportive brake components market. Vehicle manufacturers of various countries are compelling automakers to increase integration of safety features in their vehicles. Major Tier-1 suppliers who manufacture brake components are based in Europe including Robert Bosch, Continental AG, and BREMBO S.p.A. The factors mentioned above are likely to boost the automotive supportive brake components market in Europe.