Global Automotive Hydraulic Brake Market size was valued at US$ XX Mn in 2019 and expected to reach US$ XX Mn by 2019 at a CAGR of 10.2% during the forecast period.
The Global Automotive Hydraulic Brake market report is a comprehensive analysis of the industry, market, and key players. The report has covered the market by demand and supply-side by segments. The Global Automotive Hydraulic Brake report also provides trends by market segments, technology, and investment with a competitive landscape.
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Global Automotive Hydraulic Brake Market Overview:
Automotive Hydraulic Brakes are an important part of the automotive braking system used in cars and two-wheelers. Brakes pedal force applied by the driver is transmitted to the wheel brakes with the help of pressurized fluid in the calipers is the simple mechanism behind the automotive hydraulic braking. As the name suggests, conversion of fluid or hydraulic pressure into useful work is the key function of the hydraulic brakes. Moreover, the master cylinder piston compresses the brake fluid with the help of brake pedal force; the generated fluid pressure is equally transferred into front disc caliper pistons and rear pistons. This mechanism helps the wheels to stop all at once when brakes are applied.
Governments have made automotive manufacturers mandatory to install separate parking brakes in case of emergency or failure. In addition, better safety ensured by hydraulic brakes to the passengers and increasing investment of prominent players in the market is the factors considered to drive the automotive hydraulic brake market. Recently Continental acquires Rico Auto by owning 50% shares in the company. The main reason behind the acquisition is the installation of Rico’s hydraulic braking system into Continental cars and other vehicles. The continental shares press release says that the acquisition is made keeping the Indian automotive market in mind and to invest in the development of the lucrative market of APAC.
Global Automotive Hydraulic Brake Market Dynamics:
Increasing demand for compact vehicle designs across the globe and rising demand for ergonomic comfort of drivers are the key factors considered to drive the Automotive Hydraulic Brake market growth. Moreover, rising safety awareness among the consumers is the key supporting factor considered to drive the automotive hydraulic brake market growth. Increasing demand for passenger vehicles and commercial vehicles across the globe and thereby increasing demand for brakes system installation is the key factor attributing the growth to the market. According to the Organization of Motor Vehicles Manufacturers (OICA), more than 82 million cars are sold worldwide and the market is expected to rise during the forecast period as technological advancements in automation is increasing worldwide.
Increasing raw material prices for manufacturing of brake calipers and master cylinder and high operational risk of hydraulic fluid which is toxic in nature are the key factors considered to restrain the automotive hydraulic brake market.
The emergence of new hydraulic brakes with extended pipes system is the new technology in the market and expected to create opportunities for prominent players in the market. Furthermore, increasing adoption of electric brakes in the market is the key challenge considered to hamper the market growth.
Global Automotive Hydraulic Brake Market Segment Analysis:
Disc brakes are dominating the Automotive Hydraulic Brake Market:
Increasing demand for effective braking mechanisms and increasing safety standard norms for road safety are the key factors considered to drive the disc brakes segment in the market. Disc brakes overcome the rim heating factor which is considered common in drum brakes. In addition, disc brakes allow great stopping power and hence used in the sports cars segment also. The disc brakes segment was accounted for approximately 80% market share in 2019 owing to the dynamic standards of disc brakes and the high proportional braking maneuver mechanism in the system. According to Auto Executive Survey conducted by KPMG International in 2019, more than 446 million units of disc brakes are sold worldwide with a growing CAGR of approximately 4.1% from the past 3 years.
Passenger Cars Segment is boosting the Automotive Hydraulic Brake Market Sales:
Increasing demand for passenger cars and ultimately, increasing adoption of the hydraulic braking systems in the automotive manufacturing sector is the key factor considered to drive the passenger cars segment in the market. Moreover, increasing the disposable income of the population is the key factor boosting the growth of the passenger cars segment in the market. According to European Automotive Manufacturers Association, 52 million passenger cars are sold worldwide in the year 2020 which is a dip of approximately 11.7% from last year’s sales of 2019. But manufacturers are expecting a high economic boom during the forecast period as many manufacturing activities are reopening and reemerging from the COVID pandemic situation.
OEM holds the largest share in the Automotive Hydraulic Brake Market:
OEM segment holds the largest share in the Automotive Hydraulic Brake market with approximately 75% market share owing to increasing adoption of passenger cars and increasing need for vehicle safety and better vehicle control. Moreover, increasing sales and manufacturing facilities for the automotive segment are the key supporting factors considered to drive the OEM segment in the market. In addition, increasing mergers and acquisition of distributers and small manufacturers with prominent players in the market are the key factor attributing the growth of the OEM segment in the market.
Impact of Covid pandemic on the Automotive Hydraulic Brake market:
Covid pandemic posed a negative impact on Automotive Hydraulic Brake market owing to delayed manufacturing activities and halting of shipments for passenger cars and commercial vehicles due to disruptions in supply chains for manufacturers across the globe. Moreover, changes in dealer inventories and sudden closing of manufacturing activities in factories across the globe has induced a drop in the Automotive Hydraulic Brake market. Furthermore, the unavailability of workforce owing to stringent rules and regulations of social distancing have expected to hamper the market growth by approximately 31%.
Steady demand for Automotive Hydraulic Brake and growing manufacturing activities across the automotive industries especially in passenger cars and commercial vehicles segment are the factors expected to create a positive atmosphere in the market. Moreover, manufacturers are also seeing the pandemic as a new way to incorporate their supply chains and integrate their operational demands and dive for cost-cutting solutions for hydraulic brakes to adhere to the market growth during the forecast period.
Global Automotive Hydraulic Brake Market Regional Insights:
Europe holds the major share in the Automotive Hydraulic Brake Market with approximately 46% of total market share in the year 2019 owing to increasing infrastructure development for the automotive sector in the region due to booming economic growth. Furthermore, increasing safety awareness among the population of the region is the key supporting factor considered to drive the market growth. Germany is the dominating market in the region in terms of volume share of approximately 60% as Germany is the largest industrial components manufacturer across the globe. The UK is expected to pose a relatively high share in the market as the abundance of key players in the market are investing dominantly in the region. For instance, Alcon Components Ltd. of UK has produced approximately 10 million units of hydraulic brakes in the year 2019 and more than 3.5 million brakes are exported worldwide.
The Asia Pacific is expected to pose as the fastest-growing region in the Automotive Hydraulic Brake Market with approximately 31% market share. The abundance of domestic manufacturers and the investment of key players in the highly untapped APAC market are the key factors attributing to growth in the region. China holds a prominent share in the market as China is emerging as the manufacturing hub across the globe. India and Japan hold prominent shares in the market as increasing export and import activities in the region are creating lucrative opportunities for distributors and manufacturers across the globe.
North America holds the dominant share in the market owing to highly increasing precautionary measures for road safety in the region and increasing sales of passenger and commercial vehicles in the region. According to Volkswagen, more than 18 million cars have been sold in the year 2019 in North American region owing to increasing popularity for premium vehicles and dominance of luxury cars over the regional market.
The objective of the report is to present a comprehensive analysis of the Global Automotive Hydraulic Brake Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.
PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding the Global Automotive Hydraulic Brake Market dynamics, structure by analyzing the market segments and project the Global Automotive Hydraulic Brake Market size. Clear representation of competitive analysis of key players by Type, price, financial position, Type portfolio, growth strategies, and regional presence in the Global Automotive Hydraulic Brake Market make the report investor’s guide
Global Automotive Hydraulic Brake Market Scope: Inquire before buying
Global Automotive Hydraulic Brake Market, by Region
• North America
o CIS Countries
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
• Middle East and Africa
o South Africa
o GCC Countries
o Rest of ME&A
• South America
o Rest of South America
Global Automotive Hydraulic Brake Market Key Players
• Continental AG
• BorgWarner Inc.
• EBC Brakes
• MICO, Inc.
• Federal Mogul Motor parts LLC
• Brembo S.p.A.
• Coremo Ocmea S.p.A.
• Knorr-Bremse AG
• Robert Bosch GmbH
• Svendborg Brakes
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