Automotive Disc Brake Market Worth US$ 20,016.3 Million by 2028 at a CAGR of 3.7% Globally, COVID-19 Impact and Analysis by The Insight Partners

NEW YORK, Aug. 30, 2021 /PRNewswire/ -- According to new research study on "Automotive Disc Brake Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Material Type, Vehicle Type, and Geography," Floating Caliper Type Disc Brake Dominated the Market in 2020. The market is projected to reach US$ 20,016.3 million by 2028 from US$ 15,485.2 million in 2021; it is expected to grow at a CAGR of 3.7% during 2021–2028.

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Auto manufacturers and tech companies are involved in the development of sophisticated technologies for self-driving vehicles. In the race of testing self-driving vehicles, Google is leading, followed by Audi, Toyota, and Mercedes-Benz. Moreover, it has been observed that self-driving vehicles will account for ~75% of vehicles on the road by 2040. The self-driving car industry is anticipated to benefit from the development cycle of braking technologies. In addition to the rising emergence of self-driving vehicles, changing government regulations and collaborations are among the major trends that would support transforming the automotive industry. Due to government regulations for the safety of drivers and passengers, there are at least 47 cities globally that are piloting self-driving cars in the current scenario. With the emergence of self-driving/autonomous vehicles, the market for braking systems is expected to continue to evolve.

The APAC held the largest share in the automotive disc brake market, followed by Europe and North America. The automotive disc brakes market in APAC is expected to grow, owing to growing population, rapid urbanization, and heavy investments in automotive industries. Countries such as China, India, South Korea, Malaysia, the Philippines, and Taiwan help in making APAC a technologically advanced region. Stable economies and technological advancements support the growth of diversified industries and markets in APAC. As a global producer of automotive disc brakes, APAC is expected to be one of the fastest-growing markets.

In APAC, South Korea is anticipated to grow at the fastest CAGR during the forecast period. The country has the presence of a few largest passenger car manufacturers, such as Kia and Hyundai. This highlights the strength of the automotive sector in South Korea. The country produced a total of 350,6774 vehicles in 2020. In addition to production of automotive disc brakes, strategic alliance is another factor contributing toward the market growth. For instance, in July 2018, WABCO Holdings Inc. signed a contract with Hyundai Motor Company. Under this contract, WABCO provides their breakthrough MAXX single-piston air disc brake technology for production on Hyundai's new medium-duty trucks.

Strategic Insights

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Emergence of Self-Driving/Autonomous Vehicles to Propel Automotive Disc Brake Market Growth in Coming Years

Irrespective of constant technological developments, the foundation of any vehicle, be it autonomous or traditional cars, starts with brakes, and more explicitly with air disc brakes. Anti-locking braking systems are witnessing a rise in their share in the commercial vehicle market. Nearly 20% of commercial vehicles and 15% of trailers are integrated with ADBs. This share is projected to grow and reach 30% of trucks and 25% of trailers in the coming few years.

Moreover, with the advent of next-generation vehicles in the global market, the evolution of electronic brake systems is prevailing. In countries such as the US, the need to enhance the overall capability, safety, and performance of a truck is gaining popularity, which is contributing toward advancement in electronic brake systems. Furthermore, the evolution of electronic brake systems would assist the next-generation technologies such as automation and electrification. In March 2021, ZF Friedrichshafen AG introduced 100 International LT Series trucks integrated with fifth-generation Wabco Maxxus L2.0 air disc brakes. These disc brakes are manufactured at Charleston, S.C., plant. With the integration of advanced disc brakes in vehicles, the scope of the market will continue to expand.

Automotive Disc Brake Market: Vehicle Type Overview

Based on vehicle type, the automotive disc brake market is segmented into passenger vehicles, light commercial vehicles, and heavy commercial vehicles. The passenger car segment heavily dominated the market in 2020. The rise in disposable income among the global population is positively influencing the demand for passenger cars across the globe. For instance, according to the Association des Constructeurs Européens d'Automobiles (ACEA) data, in May 2021, passenger car registrations in the European Union (EU) rose by 53.4% compared to last year, totaling 891,665 units. The European markets saw strong volume gains, with Spain posting the biggest increase (77.8%). The EU's three other key car markets, i.e., France, Italy, and Germany, did well in May, posting an increase of 46.4%, 43%, and 37.2% respectively. Thus, the rising demand for passenger cars across the globe is expected to boost the demand for automotive disc brakes in the coming years.

Automotive Disc Brake Market: Competitive Landscape and Key Developments

Brembo S.p.A.; Continental AG; Delphi Technologies (BorgWarner Inc.); EBC Brakes; Haldex Group; Hitachi Automotive Systems Americas, Inc.; Knorr-Bremse AG; Robert Bosch GmbH; WABCO Holdings Inc.; and ZF Friedrichshafen AG are among the key market players in the global automotive disc brake market. The leading companies are focusing on the expansion and diversification of their market presence, and acquisition of new customer base, thereby tapping prevailing business opportunities.

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In 2021, EBC Brakes introduced a two-piece fully floating brake disc range, 380x30mm SG2F012 (rear) discs and the 380x34mm SG2F016 (front) discs for 'Turbo' and 'Turbo S' 991-generation Porsche 911s and the 981 Cayman GT4.

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