The Asia Pacific Brake System Market would witness market growth of 5.3% CAGR during the forecast period (2022-2028).
The common mechanism involved in breaks is the cutting of fuel supply and the motions of gears. In order to halt the fuel supply and increase the engine's ability to drive the vehicle, the acceleration must be released before using the brakes. This causes the wheels to stop rotating, bringing the car to a complete stop. Meanwhile, the clutch is disengaged, which separates the engine from the transmission. As a result, the engine is still operating at idle when the car is standing still.
While the majority of vehicles on the road today have four-wheel disc braking systems, some older cars and trucks still have drum brakes. Drum brakes have a hollow cylinder attached to the axle that rotates with the wheel and is typically used on the back wheels. Instead of pressing on the exterior of a rotor when the brakes are applied, a set of brake shoes makes contact with the interior of the drum. In comparison to disc brakes of the same size, drum brakes can deliver higher braking power.
The biggest markets for brake systems in the Asia Pacific region are China and India. The market for braking systems in China and India is driven by the countries' rising vehicle production rates as well as regulatory adherence to the UN agreement on approval and recognition for motor vehicle equipment and parts. Due to local laws that adhere to the advanced braking system requirements outlined in the US FMVSS105 and European ECE R13-H rules, electronic braking systems are already widely used in Japan and South Korea.
The China market dominated the Asia Pacific Brake System Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $2,891.3 million by 2028. The Japan market is exhibiting a CAGR of 4.6% during (2022 - 2028). Additionally, The India market is poised to grow a CAGR of 5.9% during (2022 - 2028).
Based on Technology, the market is segmented into Antilock Braking Systems (ABS), Electronic Stability Control (ESC), Traction Stability Control (TCS) and Electronic Brakeforce Distribution (EBD) & Others. Based on Actuation, the market is segmented into Hydraulic and Pneumatic. Based on Brake Type, the market is segmented into Disc and Drum. Based on Vehicle Type, the market is segmented into Passenger Car, Light-commercial Vehicles (LCV), Truck and Bus. Based on countries, the market is segmented into China, Japan, India, South Korea, Australia, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Brake System Market is Projected to reach USD 29 Billion by 2028, at a CAGR of 4.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Robert Bosch GmbH, Knorr-Bremse AG, Brembo S.p.A., Continental AG, Hitachi, Ltd. (Hitachi Astemo, Ltd.), Denso Corporation, ZF Friedrichshafen AG, Aisin Corporation, Haldex AB and Mando Corporation (Halla Group).
By Technology
By Actuation
By Brake Type
By Vehicle Type
By Country
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