Automotive Braking Component Market – Snapshot
Automotive braking components are integral parts of a vehicle safety system. Automotive braking components such as brake disc, calipers, and disc rotors work in unison to produce the braking effect of the vehicle.
Increase in demand for high speed vehicles has led to the development of quick responsive brakes. Rise in the number of young consumers and increase in sales of sports utility and performance vehicles are driving the global automotive braking component market. Rise in per capita income in developing countries has led to the emergence of several first-time consumers, thus boosting vehicle production. This, in turn, fuels the demand for automotive braking components. Government initiatives in India and China to boost vehicle production in their countries are driving the brake component market in Asia Pacific. Expansion of the automotive industry in ASEAN countries is projected to boost the brake component market in the sub-region. Increase in demand for occupant safety among consumers is a primary driver of the automotive brake component market. Stringent government norms pertaining to pedestrian safety and control of vehicle’s stopping distance has prompted automakers to introduce advancements in braking technology. Rise in demand for electric vehicles has created several opportunities for the brake component market. In 2017, Continental AG developed an innovative brake design for electric vehicles, in which the brake discs are mounted on a new component carrier star, instead of rim. This helps electric vehicles with regenerative braking to perform efficiently even when the battery is fully charged and the regeneration of braking force is not required.
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Increase in usage of heavy haulage vehicles and high-performance cars have fueled the demand for fixed calipers. Fixed calipers provide effective braking in heavy load conditions. Floating calipers have rigid mounting and high stiffness, thus enhancing braking performance. Floating calipers are lighter and more cost-effective, and hence, are the leading caliper type segment of the automotive braking component market.
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Extensive usage of drum brakes in rear braking applications of passenger vehicles is driving the brake shoe segment. The leading brake shoe segment accounts for a dominant share of the automotive braking component market, as it provides effective and stable braking during forward and reverse movements of the vehicle.
Rubber is a conventional material that is extensively utilized in brake lines due to its cost-effective price and high moldability. However, the stainless steel brake lines segment is expected to expand at a considerable pace. Stainless steel brake lines have high resistance to cracking and do not expand under pressure. These brake lines are durable and have less risk of failure, thus improving safety. Stainless steel brake lines offer better brake pedal feel; and hence, these are in high demand in premium and luxury vehicles. The carbon ceramic rotor segment is estimated to expand at a high growth rate. Carbon ceramic discs are lightweight and require low-maintenance; consequently, they are preferred by automakers in order to achieve vehicle light weighting and curb emissions.
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Leading players operating in the global braking component market include Continental AG, Akebono Brake Industry Co., Ltd., ZF Friedrichshafen AG, Robert Bosch GmbH, WABCO, AISIN SEIKI, Borg Warner, FTE Automotive, Hyundai Mobis, Nissin Kogya Co., Hitachi Ltd., ., Brakes India, Haldex Group, Federal Mogul LLC., Hella Pagid GmbH, Hutchinson SA, Sumitomo Riko Company Ltd., Nisshinbo Brake Inc., MAT Holdings, TMD Friction Holdings GmbH, ASK Automotive Pvt. Ltd., BNA Automotive India Pvt. Ltd., Meritor, Inc., Mando Corporation, ADVICS CO., LTD., EXEDY Corporation, and Knorr Bremse AG.
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