Indian Automotive Braking System Market – Industry Analysis and Forecast 2020-2027

Indian Automotive Braking System Market reached US $32.14Bn in 2020 and is expected to reach US $39.63 Bn by 2026 at a CAGR of 3.18%. Automotive braking system in a vehicle can be regarded as energy conversion device, which transfers the kinetic energy of a vehicle into heat to stop the vehicle.



 

To know about the Research Methodology:-Request Free Sample Report

As compared to European countries which include France, Germany and Spain, in India, the proportion of deaths due to road accidents is around three to four times. In a report from the transport ministry released in September last year, the stats showed as many as 17 people died in 55 road accidents per hour on an average in 2017, with more than 50 per cent of the victims from the 18-35 age group. The report also stated one major fact - the overall number of accidents declined by 4.1 per cent from last year, but fatalities went up by 3.2 per cent. Indian automotive safety standards are rightfully condemned for being insufficient and ineffective. The World Health Organization data reveals that more than 1.25 million people are killed in road accidents every year and about 50 million people get injured worldwide and India has a lion’s share in it. Though India can boast about having world's sixth-largest car market, it is still the only country among the global top ten car markets without a testing program that measures the safety of vehicles. This emphasises the need for efficient braking system. Failure of braking system is one of the key reasons for road accidents.

The growing demand for safety and security in the automobiles is the main factor playing a vital role for the growth of this market. Growing proportion of India middle class, rising disposable income, stringent government regulations, increasing vehicle electrification and rising deaths due to failure of braking system are some of the key driving forces for the future growth of Indian Automotive Braking System Market. The complexity and the high cost of new features are the key restraints for the growth of this market.

The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.

Indian Automotive Braking System Market is segmented into brake type, vehicle type and technology. In terms of Brake, Disc brakes are the fastest growing brake segment globally with respect to volume and value. This growth can be attributed to better efficiency and performance offered by disc brakes, when compared with drum brakes. Disc brakes are known to dissipate heat more effectively than drum brakes, reduce brake fade, offer better performance on descending slopes and, most importantly, have better stopping power than drum brakes. However, drum brakes still dominate the commercial vehicle segment. Brake system manufacturers are working on making cost-effective disc brakes, which will increase their adoption. Disc brakes offer an advantage of internal self-adjustment, which meet the CSA regulations. Additionally, disc brakes are easier to integrate with active safety technologies, which will drive their demand in the coming years.

Anti-lock braking system (ABS) is going to be the fastest growing braking technology used in vehicles in India as government of India is determined to implement the regulation regarding this technology. According to the Government, it is mandatory for the manufacturer to equip all bike models above 125 cc in their portfolio with ABS, for the launches planned on or after April 1, 2018 & the same must be done for existing 125cc and above bikes by April 1, 2020. For bikes below 125 cc, manufacturer has an option to equip either ABS or combined braking system (CBS) to meet the norms.

The objective of the report is to present comprehensive analysis of Indian Automotive Braking System Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with analysis of complicated data in simple language. The report covers all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on 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 clear futuristic view of the industry to the decision makers.

The report also helps in understanding Indian Automotive Braking System Market dynamics, structure by analyzing the market segments, and project the Indian Automotive Braking System Market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Indian Automotive Braking System Market make the report investor’s guide.
Scope of the Indian Automotive Braking System Market: Inquire before buying



Indian Automotive Braking System Market


Report Coverage
Details


Base Year:
2020
Forecast Period:
2021-2027


Historical Data:
2016 to 2020
Market Size in 2020:
US $ 32.14 Bn.


Forecast Period 2021 to 2027 CAGR:
3.18%
Market Size in 2027:
US $ 39.63 Bn.


 Segments Covered:
By Brake Type
•Disc Brake
•Drum Brake


By Vehicle Type
•Passenger Vehicles
•Heavy Commercial Vehicle
•Light Commercial Vehicle


By Technology
•Anti-Lock Braking System (ABS)
•Electronic Stability Control (ESC)
•Traction Control System (TCS)
•Electronic Brake-Force Distribution (EBD)



Indian Automotive Braking System Market, by region
• North India
• South India
• East India
• West India
Key Players in Indian Automotive Braking System Market
Valeo
Continental A.G.
Aisin Automotive Haryana Private Limited
Knorr-Bremse
TRW Automotive Holdings Corp
WABCO
Mando India
Sarbestos Auto Spares Pvt Ltd
Bosch
ZF India Pvt Ltd
Brembo S.P.A
Autolive Inc
Haldex
Endurance Technologies Limited
Rico Auto Industries Ltd.
ASK Automotive Ltd.
Brembo Brake India Pvt. Ltd.
Nissin Brake India Pvt. Ltd.
Allied Nippon Ltd.
Masu Brakes Private Limited
Kiran Udyog Pvt. Ltd.