Automotive Brake Components Market

Automotive Brake Components Market Outlook (2022-2032)

Worldwide sales of automotive brake components are valued at US$ 49.9 billion at present. The global automotive brake components market is forecast to expand at a CAGR of 4.2% to reach a valuation US$ 75.6 billion by 2032.

Report Attributes	Details
Automotive Brake Components Market Size (2021A)	US$ 48.1 Billion
Estimated Year Value (2022E)	US$ 49.9 Billion
Projected Year Value (2032F)	US$ 75.6 Billion
Global Market Growth Rate (2022-2032)	4.2% CAGR
North America Market Share (2021)	~26%
North America Growth Rate (2022-2032)	~4.4% CAGR
Collective Value Share (U.S., China, India) 2022: Top 3 Countries	~38%
Top 5 Companies’ Market Share (2021)	~23%
Key Companies Profiled	Wabco Holdings Inc. Knorr Bremse AG Mando Corporation Aisin Seiki Co. Ltd. Akebono Brake Industry Company Ltd. Brembo S.p.A Daimler AG ZF Friedrichshafen AG DAKO-CZ Robert Bosch GmbH Continental AG ASK Automotive Pvt. Ltd.

Advancements in braking systems coupled with mandates by regulatory bodies is like to influence the adoption of advanced automotive brake components over the coming years.

Demand for automotive brake components accounted for around 20% share of the global automotive components industry in 2021.

Demand Analysis of Automotive Brake Components (2017-2021) Vs. Market Outlook (2022-2032)

Advancements in braking systems along with non-uniformity in road infrastructure is likely to influence the automotive brake components market over the coming years. Demand for efficient automotive brake components such as brake liners, brake shoes, brake pads, and brake calipers is growing owing to rising need for the active and passive safety of automobiles.

Rules by regulatory bodies are likely to drive adoption of advanced brake systems over the coming years.

• For instance, the United States Department of Transportation (DOT) and National Highway Traffic Safety Administration (NHTSA) have mandated the use of automatic emergency braking, offering dynamic braking, thereby pushing demand for efficient automotive brake components.

Fact.MR projects the automotive brake components market to witness 4.2% CAGR during 2022 and 2032 in comparison to 2.8% CAGR from 2017 and 2021.

What’s Driving High Need for Automotive Braking Systems?

“Periodic Changes Reduced by Frictionless Braking to Support Market Growth”

The gradual shift towards electric and hybrid vehicles is likely to impact the braking technology that is used in cars and light trucks. Automotive brake component manufacturers are developing products compatible with these braking systems.

Trends include autonomous driving, electrification, light weighting, and new mobility. This is estimated to support market demand by 1.2X during the forecast years of 2022-2032.

Moreover, the periodic changing of automotive brake components can be reduced with the help of frictionless braking technology. This is a potential breakthrough among OEMs.

As such, all the above factors are estimated to support demand growth by around 20% of current levels over the assessment period.

“Anodizing Brake Calipers Enhancing Functionality”

Escalating preference for aluminium automotive brake components is likely to provide additional demand for brake calipers in disc brake systems. Anodizing brake calipers are anodized for their use in high-quality vehicles. This trend of anodizing brake calipers is estimated to provide a gain of 210 BPS to the automotive brake components market.

The anodizing treatment not only provides enhanced corrosion protection but also improves appearance and wear resistance. In addition, the coloring of anodized brake calipers with paints provides for increased weather resistance.

This is estimated to support drive growth by 1.3X during the forecast years.

“New Labelling Initiative to Alleviate Threats Posed by Forged Products”

Prevalence of forged products in the automotive industry calls for labelling standards and regulations of replacing automotive brake components as original brake components, ensuring vehicle safety.

This demands the application of ECE R90 vehicle regulations, which contain several revised mandates for performance, specific designs, and construction requirements across the EU, Africa, and Asia Pacific, for the labelling of automotive brake components.

These labelling initiatives for automotive brake components ensure the same performances that is in the tolerance limits of original vehicles. This is expected to offset the impact of forged products on the market for automotive brake components, thereby supporting market growth.

This aspect is estimated to drive market growth by around 25% through 2032.

Region-wise Insights

Why Does North America Account for Highest Demand for Automotive Brake Components?

The North America automotive brake components market accounts for the largest market share of 26.1%.

The region has stricter emission norms with regards to filtration. Moreover, key manufacturers of automotive braking systems are focusing on tapping into untouched and new vehicle segments. They are also focusing on introducing advanced automotive brake components in order to gain a larger market pie, wider consumer base, and high margins.

Thus, the regional market is projected to expand at a CAGR of 4.4% over the forecast years.

Will Automotive Brake Component Suppliers Gain Profits in East Asia and South Asia & Oceania?

The East Asia and South Asia & Oceania automotive brake components markets hold 21.2% and 19.9% share, respectively.

Emerging economies in East Asia and South Asia & Oceania present significant opportunities on the back of growth in domestic automotive sectors, which is also witnessing significant increase in investments and research and development along with a massive technological shift.

Moreover, both these regions are considered as major sourcing hubs by OEMs for automotive brake components and overall auto components, and can be leveraged for opportunities. Key market players are looking for joint ventures, partnerships, and acquisitions for this purpose.

Category-wise Insights

Will There Be Higher Consumption of Disc Brakes or Disc Drums?

Automotive brake components are available under different product types, such as disc brakes and drum brakes. Among them, disc brakes contribute 56.4% to the automotive brake components market share. The segment is projected to expand at a CAGR of 4.5%.

Disc brakes use lubricants for operational efficiency and effective functioning of the components, making them more attractive than drum brake systems that have high replacement rates. Disc brakes are gaining immense traction and are impacting the adoption of conventional braking systems.

Which Sales Channel Will Account for Higher Sales of Automotive Brake Components?

Sales via OEMs account for 53.9% of the overall market share, and are projected to increase at a CAGR of 4.5% through 2032.

OEMs are investing in research and developmental activities, striving for new technologies for advanced braking components. Sales are estimated to remain high as OEMs continue their focus on offering efficient automotive brake components with designs that offer high durability, thereby driving market demand for automotive brake components.

Top Companies in Automotive Brake Components Market

The global market for automotive brake components is extremely fragmented and competitive due to the presence of numerous regional players. Mergers and acquisitions, expansions, collaborations, and partnerships are the way to move ahead.

New product development is also being adopted by major companies to expand their market presence.

• NRS Brakes Company, in 2019, launched the galvanized-based brake pads product line, which provides protection from rust to all brake parts, including the automotive brake rotors and calipers.
• ZF Friedrichshafen AG, in 2020, launched an electric park brake, wherein, car manufacturers can perform interior designing, and advanced braking system can be installed in small vehicles.
• Veoneer, in 2020, announced an agreement to divert its U.S. brake control business to ZF Friedrichshafen AG under its market expansion plan.

Fact.MR has provided detailed information about the price points of key manufacturers of automotive brake components positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Automotive Brake Components Industry Survey by Category

• Automotive Brake Components Market by Product Type :

  • Disc Brakes
  • Drum Brakes

• Automotive Brake Components Market by Vehicle :

  • Passenger Vehicles 
  • Light Commercial Vehicles 
  • Heavy Commercial Vehicles 

• Automotive Brake Components Market by Sales Channel :

  • OEM
  • Aftermarket

• Automotive Brake Components Market by Region :

  • North America
  • Latin America 
  • Europe 
  • East Asia
  • South Asia & Oceania 
  • MEA