Portland, OR, July 14, 2020 (GLOBE NEWSWIRE) — Based on the report revealed by Allied Market Analysis, the worldwide automotive brake system market generated $22.03 billion in 2018, and is estimated to succeed in $38.48 billion by 2026, registering a CAGR of seven.5% from 2019 to 2026. The report provides an in depth evaluation of adjusting market dynamics, pricing, enterprise efficiency of market gamers, main segments, and trade roadmap.
Rise in demand for security options in vehicles, technological developments in security options, and stringent authorities mandates for car security drive the expansion of the worldwide automotive brake system market. Nonetheless, excessive set up and upkeep prices of automotive brake system hinder the market progress. However, growth of superior braking programs for 2 wheelers and enlargement in untapped markets of growing international locations create new alternatives within the coming years.
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• The demand and manufacturing of automotive brake system has been hampered because of the international lockdown throughout coronavirus pandemic.
• The international locations that are main producers of automotive brake programs, together with China, India, and South Korea have been severely affected by coronavirus. The manufacturing actions in these international locations have been stopped because of the migrations of expert professionals within the lockdown to keep away from the virus transmission.
• Furthermore, transportation and travelling have been banned throughout coronavirus pandemic throughout the globe, which is accountable to impacts the automotive trade enormously.
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The report provides detailed segmentation of the worldwide automotive brake system market based mostly on kind, know-how, car kind, gross sales channel, and area.
Based mostly on know-how, the traction management system (TCS) section contributed to the most important share in 2018, accounting for almost one-third of the entire share, and is estimated to take care of its dominant place through the forecast interval. Nonetheless, the antilock braking system (ABS) section is anticipated to register the best CAGR of 9.3% from 2019 to 2026.
Based mostly on car kind, the passenger ICE car section accounted for the most important share in 2018, holding greater than half of the entire share, and is anticipated to take care of the most important share all through the forecast interval. Nonetheless, the electrical car section is estimated to painting the best CAGR of 9.7% through the forecast interval.
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Based mostly on area, Asia-Pacific contributed the best share, accounting for greater than half of the entire market share in 2018, and can preserve its dominance all through the forecast interval. As well as, this section is estimated to painting the best CAGR of 8.1% from 2019 to 2026. Nonetheless, Europe is anticipated to develop on the CAGR of seven.2% through the forecast interval.
Main market gamers analyzed within the automotive brake system market analysis embody Aisin Seiki Co., Ltd., Autoliv Inc., Continental AG, Delphi Applied sciences, Denso Company, Nissin Kogyo Co., Ltd, Robert Bosch GmbH, WABCO, ZF Friedrichshafen AG, and Hyundai Mobis Co., Ltd.
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