Automotive Braking Component Market Size - By Component (Brake Caliper, Brake Shoe, Brake Line, Brake Pad, Brake Rotor Material), By Sales Channel (OEM, Aftermarket), By Vehicle (Passenger Vehicles, Light Commercial Vehicles) & Forecast, 2024 - 2032

Automotive Braking Component Market Size

Automotive Braking Component Market size was valued at USD 48.2 billion in 2023 and is estimated to register a CAGR of over 4% between 2024 and 2032. The increasing emphasis on vehicle safety features driven by stringent regulatory requirements and heightened consumer awareness is a significant growth driver for the market, fostering demand for advanced braking systems & components worldwide.
 

For instance, in December 2023, Mintex launched new braking components including brake pads MDB3518, MDB3521, and MDB3522 designed for various models including Citroen, Fiat, and Audi. This launch expanded Mintex's product lines to cover a wider range of vehicles, enabling the company to capitalize on the increasing demand for safety-focused braking systems.
 

The steady rise in vehicle production worldwide serves as a significant growth driver for the automotive braking component market. With increasing demand for vehicles globally, particularly in emerging markets, there is a corresponding need for high-quality braking systems. As automotive manufacturers ramp up production to meet this demand, the requirement for braking components such as brake pads, rotors, and calipers also surges, creating opportunities for suppliers to expand their market presence and capitalize on the growing automotive industry.
 

High research & development costs pose a significant challenge for companies operating in the automotive braking component market. Developing innovative braking technologies and meeting stringent regulatory standards require substantial R&D investments. These costs can strain the financial resources of companies, especially smaller players, and may hinder their ability to compete effectively in the market. Moreover, failure to allocate sufficient funds to R&D efforts may result in outdated product offerings, reducing competitiveness and market share in the increasingly dynamic industry.
 

Automotive Braking Component Market Trends

An emerging market trend in the automotive braking component industry is the increasing adoption of Advanced Driver Assistance Systems (ADAS) integrated with braking systems. This trend reflects a growing focus on vehicle safety and autonomous driving technologies, driving demand for innovative braking solutions that seamlessly integrate with ADAS functionalities for enhanced performance & safety.
 

For instance, in October 2023, Continental partnered with DeepDrive to develop core technologies for electric vehicles, focusing on a wheel hub drive with an integrated braking solution. This collaboration aims to create innovative EV drive-brake units that not only provide high torque & power density but also seamlessly integrate with ADAS functionalities, thereby contributing to enhanced performance, safety, and the adoption of electric vehicles.
 

Another trend in the automotive braking components market is the increasing influence of government regulations, driving the adoption of upgraded components. Stricter safety and emissions standards imposed by regulatory bodies worldwide compel automotive manufacturers to integrate advanced braking technologies into their vehicles. This trend fosters demand for braking components that meet or exceed regulatory requirements, stimulating innovation & investment in upgraded braking systems across the market.
 

Automotive Braking Component Market Analysis

Based on sales channel, the market is categorized into OEM and aftermarket. The OEM segment recorded around 67% of the market share in 2023. An evolving pattern in the OEM segment is the integration of advanced braking technologies into new vehicle models. OEMs are increasingly incorporating innovative braking systems to enhance safety, performance, and overall driving experience for consumers.
 

For instance, in August 2023, Bosch Automotive Aftermarket unveiled the Blue Line Brake Pads designed as a substitute for OE brake pads, boasting exceptional friction stability, shearing attributes, minimal noise, and a formula devoid of asbestos. Moreover, Bosch also introduced the ENV6 brake fluid, distinguished by its low viscosity, elevated boiling point & effective lubrication, ensuring compatibility across a broad spectrum of vehicles. These offerings deliver enhanced performance, safety, and environmental adherence, catering to the growing need for enhanced braking solutions in modern vehicles to satisfy regulatory requirements & consumer demands.
 

Based on component, the market is divided into brake caliper, brake shoe, brake line, brake pad, and brake rotor material. The brake pad segment accounted for 29% of the automotive braking component market share in 2023. An emerging development in the brake pads segment is the shift toward eco-friendly materials. Manufacturers are increasingly focusing on developing brake pads with reduced environmental impact, such as low-copper or copper-free formulations, to meet regulatory standards and consumer preferences.
 

For instance, in October 2023, Brembo launched an aftermarket pad, the Copper Free XTRA brake pads, at AAPEX. These pads include the XTRA Low Met line, offering top performance and stopping power, and the XTRA Ceramic line, delivering superior performance with minimal dust for cleaner wheels. These pads meet stricter environmental standards by eliminating copper, appealing to regulations aimed at reducing environmental impact. Additionally, the XTRA Low Met and XTRA Ceramic lines cater to diverse consumer preferences for performance & cleanliness, reflecting industry efforts to offer upgraded braking solutions to meet the evolving regulatory and consumer demands.
 

Asia Pacific automotive braking component market held over 34% of the revenue share in 2023. An emerging market trend in the market is the rapid growth of Electric Vehicles (EVs) and hybrid vehicles. This trend is driving the demand for braking components tailored to the unique requirements of these vehicles including regenerative braking systems and lightweight materials to enhance efficiency & performance.
 

For instance, in March 2023, Brakes India launched ZAP brake pads specifically designed for EVs. These brake pads are formulated with enhanced corrosion protection and quiet braking features to meet the unique requirements of EVs. The pads aim to provide consistent stopping power, reduce noise during braking, and improve the durability of electric cars.
 

Automotive Braking Component Market Share

Aisin Seiki Co., Ltd.  and Continental AG hold a significant market share of over 15% in the automotive braking component industry. Companies in the automotive braking component industry employ several key strategies to enhance their market foothold. Aisin Seiki Co., Ltd. is a global leader in automotive braking components, offering a comprehensive range of products including brake calipers, master cylinders, brake boosters, and brake pads.
 

With a strong focus on research & development, Aisin Seiki continually innovates to meet the evolving industry standards and customer needs. The company's reputation for high-quality and reliable braking solutions has solidified its position as a preferred supplier to major automakers worldwide, contributing to its significant presence in the competitive market.
 

Continental AG is a key player in the automotive braking component market, renowned for its cutting-edge technologies and innovative solutions. The company's extensive portfolio includes brake systems, brake pads, brake discs, and electronic braking systems (ABS and ESC). Continental has also established strong partnerships with leading automakers globally. By leveraging its expertise in engineering & manufacturing, Continental provides advanced braking solutions tailored to the evolving needs of the automotive industry.
 

Automotive Braking Components Market Companies

Major companies operating in the automotive braking component industry are:

• Aisin Seiki Co, Ltd.
• Akebono Brake Corporation
• Continental AG
• Hitachi Astemo, Ltd.
• LavaCast
• LMB Euroseals (PTY) LTD
• Robert Bosch GmbH
• Schaeffler AG
• Valeo Service
• ZF Friedrichshafen AG
   

Automotive Braking Components Industry News

• In October 2023, Continental partnered with DeepDrive to develop a wheel hub drive with an integrated brake system for electric vehicles. This collaboration aims to combine DeepDrive's innovative dual-rotor, radial-flux motor technology with Continental's expertise in brake systems to create a compact & efficient drive-brake unit that can be mounted directly on the vehicle wheel. The integrated unit will enhance efficiency in both driving & braking, reduce complexity through modularization, and streamline the manufacturing process.
   
• In April 2023, ZF introduced TRW shock absorbers, brake pads, and brake discs in the automotive aftermarket. These products aim to support car brake repair with a focus on customer-centricity. They also offer wide coverage, easy installation, and improved braking performance with the brake pads capable of reducing stopping distances by 7 meters (23 feet).
   

The automotive braking component market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Billion) and shipments (Units) from 2018 to 2032, for the following segments:

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Market, By Component

• Brake Caliper
  • Floating Calipers
  • Fixed Calipers 
• Brake Shoe
  • Leading
  • Semi-trailing
• Brake Line
  • Rubber
  • Stainless Steel
• Brake Pad
  • Metal
  • Ceramic
  • Organic
• Brake Rotor Material
  • Cast Iron
  • Carbon Ceramic
• Others

Market, By Sales Channel

• OEM
• Aftermarket

Market, By Vehicle

• Passenger Vehicles
• Light Commercial Vehicles

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Spain
  • Italy
  • Russia
  • Nordics
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Southeast Asia
  • Rest of Asia Pacific 
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America 
• MEA
  • UAE
  • South Africa
  • Saudi Arabia
  • Rest of MEA