Rockville, Md. The global automotive brake components market is set to grow from more than US$ 62 Bn in 2017 to nearly US$ 78 Bn by 2022, a 4.6% CAGR, according to Fact.MR. Manufacturers are refining the design and durability of brake hardware to lift vehicle performance, and while OEMs contend with high replacement rates, aftermarket demand keeps climbing.
Disc brakes dominate the product mix, passenger cars generate most of the revenue, and the aftermarket carries more than half of value. Europe leads by region, while Asia Pacific excluding Japan grows fastest on the strength of its manufacturing base.
Products, Vehicles and Channels
Disc brake components account for more than US$ 51 Bn of 2017 sales and keep gaining on drum brakes, helped by lower replacement rates and cost-effective maintenance. Passenger cars generate close to three-fourths of revenue through 2022, while heavy commercial vehicles see the least demand. On distribution, the aftermarket holds more than half of value as vehicle customization trends pull volume away from OEM, which is expected to lose its lead as the largest channel.
Europe stays the dominant region with more than a quarter of global revenue, North America grows steadily on demand for performance cars and hydraulic braking, and Asia Pacific excluding Japan expands fastest at a 6% CAGR, aided by low-cost production hubs in China, South Korea and India.
Design and Aftermarket Drive Demand
The market's growth rests on two threads. Continuous improvement in brake design and durability keeps replacement and upgrade demand healthy, particularly through the aftermarket. Working against that, the rise of new sensing technologies that reduce the need for instinctive braking could temper component sales over the longer run.
Suppliers and Their Playbook
The field brings together large braking system and tier-one automotive suppliers.
- Wabco Holdings Inc., Mando Corporation, Knorr Bremse AG, Aisin Seiki Co. Ltd., Akebono Brake Industry Co., Ltd., Daimler AG, Brembo S.P.A., ZF Friedrichshafen AG, Robert Bosch GmbH, DAKO-CZ, Continental AG, and ASK Automotive Pvt. Ltd. are among the key players in the report.
Reading the Market for Decisions
For suppliers, growth favours disc brake products and a strong aftermarket presence. Investors get a large market with steady demand set against a longer-term question from driver-assist braking. Procurement teams can plan around the aftermarket leading value, passenger cars carrying volume, and Europe holding the largest share while Asia Pacific grows quickest through 2022.
About the Report
Fact.MR's study covers the global automotive brake components market for the 2017 to 2022 forecast period, with segmentation by product, vehicle type, sales channel and region. It sizes each segment, maps the competitive field, and weighs the technology and aftermarket forces shaping demand. Further detail is available in the automotive brake components market report.
About Fact.MR
Fact.MR is a market research and consulting agency with deep expertise in emerging market intelligence. The firm is known for its syndicated research, custom research and consulting solutions, helping clients make decisions on demand, competition, investment, procurement and future growth.