Automotive Brake System Market is Poised for Steady Growth Driven by Developments in Vehicle Braking Technology
The automotive brake system market is poised to experience steady growth in demand driven by developments in vehicle braking technologies that enhance safety and driving experience. Brake systems allow controlled deceleration and stopping of vehicles and consist of various components like disks, drums, calipers, actuators, pumps, valves, electronic brake force distribution and anti-lock braking systems. Rising vehicle production and the need for improved braking performance have driven adoption of advanced brake systems. The Global automotive brake system market is estimated to be valued at US$29.9 million in 2024 and is expected to exhibit a CAGR of 4.2% over the forecast period 2024 to 2031. Key Takeaways Key players operating in the automotive brake system are ZF TRW Co., Akebono Brake Industry Co., TVS Brake Linings Co., Brembo SpA, Performance Friction Corporation (PFC) Brakes, Robert Bosch GmbH, Hella Pagid GmbH, Continental AG, Federal-Mogul Holding Co., Disc Brakes Austr