Asia-Oceania is Estimated to Dominate the Brake System Market for Automotive

Date: 2015-10-09

Asia-Oceania is estimated to dominate the brake system market for automotive. The growth can be majorly attributed to the increasing demand of vehicles across the region. As of 2015, China and Japan are estimated to lead the brake system market for automotive in the region, whereas the Indian brake system market for automotive is projected to be one of the fastest growing markets. This growth can be attributed to various factors such as growing economy of the country, increasing disposable income, increasing urbanization, industrialization, and rise in demand of automobiles in the country.

Rising safety concerns and regulations have resulted in a boom in the electronically assisted brake market. These factors have increased the penetration of electronic stability control and anti-lock braking systems across the globe. These technologies are estimated to account for over 75% of the market in 2015 and are projected to acquire majority of the market in the next few years. 

With advancements in automotive brakes, the braking system in off-highway vehicles, locomotive and rolling stock too is witnessing a growth curve. Both the markets, in terms of volume, are projected to grow at promising CAGRs during from 2015 to 2020. 

The report includes profiles of key players active in the brake system market. The report also provides market dynamics including market drivers, restraints, opportunities, challenges, and key concerns in the brake market. The report covers quantitative analysis as well as qualitative aspects such as Porter’s Five Forces analysis, value chain analysis, and PEST analysis, for the brake system market. This report also provides qualitative data about brake systems.

This report classifies and defines the brake system market size, in terms of volume and value. Market size, in terms of volume, is provided in thousand units (‘000 units) from 2013 to 2020, whereas the market size, in terms of value, is provided USD Million. 

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