Modular Brake System Market - Global Industry Analysis, Size, Share, Growth Opportunities, Future Trends, Covid-19 Impact, SWOT Analysis, Competition and Forecasts 2022 to 2030
The Global Modular Braking System Market Is Projected To Grow At A CAGR Of 6.5% During The Forecast Period From 2022 To 2030.
Modular Brake System Market Overview:
A modular braking system is one that uses multiple smaller braking systems to brake a vehicle. This type of system is typically used in larger vehicles such as trucks, buses and trailers. Modular brake system allows different sized brakes to be used on each axle for better stopping power and performance. Additionally, this brake system is easy to maintain and repair; if one component of the brake fails, only that component needs to be replaced rather than the entire brake system.
Modular Brake System market size, estimates, and forecasts are provided in terms of sales volume (K Units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Modular Brake System market in detail. Regional market sizes related to products by type, by application, and by the player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and the Russian-Ukraine war.
Key Market Updates:
- In July 2019, Continental and Knorr-Bremse entered into a partnership to enable highly automated commercial vehicle driving for autonomous platooning (i.e. platooning). The partners showed this Platooning Demonstrator which driving features they could co-develop with automakers for use in autonomous driving. This includes formation, driving together, emergency braking functions, individual vehicle exits, and the safe splitting of entire platoons.
- In March 2020, ZF introduced the industry's first front electric parking brake, extending the range of electric parking brake (EPB) systems to a wider range of vehicles. With this solution, automakers can now equip small vehicles with advanced braking systems and design their interiors without the classic handbrake lever or parking brake pedal.
- In November 2020, the product portfolio of TRW (ZF's aftermarket brand) for the independent aftermarket was further expanded in the area of two-piece brake discs. These brake discs are now also available for various Mercedes-Benz C-Class and E-Class models. Further references to the S-Class and GLC models from the Stuttgart-based premium manufacturer will follow in mid-2021.
- In June 2018, Sugon Brake Industry Co., Ltd. developed the world's first "new structure brake caliper". The new brake caliper is based on the structure of the existing product AD-type disc brake, which has been extensively modified to meet the specific requirements of cars using electric power and to be more environmentally friendly.
- In March 2021, Brembo introduces the new Brembo Sport | T3 brake discs. The new Brembo Sport | T3 rotors are direct replacements for the originals and are distinguished from the previous version by two easily identifiable elements - the use of Type3 slots and the Brembo logo engraved on the braking surface. These new technologies and design features are firsts for road disc brakes.
Major Segments Covered in the Global Modular Brake System Market:
Market Key Players:
WABCO, Knorr-Bremse, Parker Hannifin, Hilliard Corporation, SAE International, Twiflex Limited, MICO, Inc., And Others.
Modular Brake System Market by Types:
- Hydraulic Brake Systems
- Disc Brake Systems
Modular Brake System Market by Applications:
- Passenger Vehicle
- Light Commercial Vehicle
- Heavy Commercial Vehicle
Modular Brake System Market by Regions:
The report estimates revenue growth at the worldwide, regional, and country levels and delivers an analysis of the recent industry trends in each sub-segment from 2017 to 2030.
The Asia Pacific region dominated the global market in terms of revenue, with a share of over 40.0% in 2019. This is attributed to rising sales of passenger cars and commercial vehicles, especially in developing countries such as India and China. Moreover, growing demand for luxury vehicles has led to increased production levels of these vehicles, which is also driving the demand for modular brakes in the region.
Europe is estimated to be the second largest regional market by 2019 owing to high demand in countries such as Germany, France, Italy, and Spain, where automotive manufacturing is a prominent industry, coupled with increased focus on vehicle safety regulations Strict regulation is the growth driver across this region. North America accounted for a large share due to increasing emphasis on fuel economy and emission control standards enacted in the United States.
- North America
- Rest of North America
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia-Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
Significant Market Dynamics:
Increasing Demand for Lighter Vehicles: The global trend towards vehicle miniaturization and weight reduction is expected to drive the demand for modular braking systems as they are lighter and more compact than conventional braking systems.
Rising popularity of electric vehicles: Electric vehicles require a different type of braking system that is compatible with the high voltage electrical components used in these vehicles. Modular braking systems are well suited for this application and are expected to become popular in the EV market.
Proliferation of autonomous driving technology: As autonomous driving technology becomes more common, there will be an increasing need for reliable braking systems that can handle the complex task of stopping safely without human intervention. Modular braking systems are well suited for this application and are expected to witness rapid growth in the coming years.
Increased Safety Regulations: Governments around the world are increasingly implementing safety regulations that require specific features or technologies to be included in new vehicles sold in their countries. One of these requirements is advanced braking technology, which is perfectly met by the modular brake system with its flexibility and scalability. This growing regulatory pressure is expected to drive the demand for modular brakes in the coming years.
Report Scope of Global Modular Brake System Market:
CAGR of 6.5% from 2022 to 2030.
Hydraulic Brake Systems, Disc Brake Systems
Passenger Vehicle, Light Commercial Vehicle, Heavy Commercial Vehicle
WABCO, Knorr-Bremse, Parker Hannifin, Hilliard Corporation, SAE International, Twiflex Limited, MICO, Inc.
Regions and Countries Covered
2017 to 2022
2023 to 2030
Points Covered in the Report
- The points that are discussed within the report are the major market players that are involved in the Market such as Market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
- The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analyzed 12 years of data history and forecast.
- The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.
- Data and information by market player, region, type, application and etc., and custom research can be added according to specific requirements.
- The report contains a SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.
Frequently Asked Questions-
What is the CAGR of Modular Brake System market?
The Modular Brake System Market is growing at a CAGR of 6.5% During Forecast Period.
What are the key types and applications of Modular Brake System market?
- Hydraulic Brake Systems, Disc Brake Systems
- Passenger Vehicle, Light Commercial Vehicle, Heavy Commercial Vehicle
Who are the key players in Modular Brake System market?
WABCO, Knorr-Bremse, Parker Hannifin, Hilliard Corporation, SAE International, Twiflex Limited, MICO, Inc., And others.
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Note – In order to provide a more accurate market forecast, all our reports will be updated before delivery by considering the impact of COVID-19 and the Russia-Ukraine war.