The global automotive brake system components market is anticipated to grow at a significant CAGR 2% during the forecast period (2022-2028). The growing demand for better automotive break system components to enhance safety on roads is a key factor driving the growth of the global automotive brake system components market. By regulating distance and pedestrian protection, the implementation of regulatory controls around the world in terms of safety is manufacturers are focusing on developing disc brake solutions as new rules regarding grading encourage the growth of the global automotive brake system components market. High speed and green power mean high performance for these vehicles, which is why these cars require a solid safety system. The most important factor in their safety system is the braking system. With the growth in sales of SUVs, luxury and sporty customers are not only looking at performance but want their cars equipped with state-of-the-art technology to ensure the safety of the people inside while driving. The growing demand for luxury car safety systems is driving the growth of the passenger car segment in the global automotive brake system components market.
According to the Association of Safe International Road Travel, approximately 1.3 million fatalities occurs in road accidents, each year worldwide, an estimated 3,287 fatalities a day. In addition, road accidents are considered to be the ninth leading cause of death and account for 2.2% of all deaths worldwide. People are concerned about the conditions and the need for safety features to be installed in their vehicles. Due to all these conditions, car companies are developing safety features that work in cars. The automotive system of an automotive system is driven by these factors. In addition, the urgent need for safety systems such as the antilock braking system is growing. The innovations, such as the modular braking system and the scalable antilock, are designed specifically for two-wheel brake features andmodified by models from the low power category to high-end sports bikes. The development of advanced two-wheeled braking systems could expose a wide range of important market opportunities being developed to grow in the automotive brake system component market.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Product Type
- By Vehicle Type
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape-Aisin Seiki Co. Ltd., Brembo S.p.A., Continental AG, Robert Bosch GmbH, and Wabco Holdings Inc., among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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Global Automotive Brake System Components Market Report by Segment
By Product Type
- Brake Caliper
- Brake Shoe
- Brake Line
- Others
By Vehicle Type
- Passenger Car
- Light Commercial Vehicle
- Medium & Heavy Commercial Vehicle
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