New York, Oct. 13, 2017 (GLOBE NEWSWIRE) — A population explosion, higher standards of living in the middle class coupled with a vast array of financial options have made it relatively easy to access personal forms of mobility in emerging economies. A greater demand for passenger cars naturally benefits the automotive brake system market. Furthermore, safety concerns amongst both consumers and the government have forced the latter to implement stringent safety norms and mandates to improve vehicular safety. New technological innovations such as regenerative braking and ABS also benefits the automotive brake system market that is poised to record a robust CAGR of 5.7% from 2017 to 2022.
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- The anti-lock braking segment is anticipated to account for a revenue share approaching one third by technology in the automotive brake system market and it may even gain market share going forward. Europe has the largest contribution in the anti-lock braking system market and is predicted to cross a value of US$ 2 billion by the end of 2022. A similar opportunity exists in the electronic stability control automotive brake system segment and key stakeholders are recommended to take this into account. Nonetheless, the electronic stability control segment could potentially lose share during the forecast period
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- Heavy commercial vehicles are a niche segment in the automotive brake system market by vehicle type and are unlikely to grow substantially during the five-year study. The light commercial vehicles automotive brake segment is nearly thrice the size of the heavy commercial vehicle segment and is on track to grow with a robust CAGR of more than 6% from 2017 to 2022. Companies would do well to focus on the Europe and North America light commercial vehicles segment as both regions are substantially larger than all others in the automotive brake system market in terms of market potential.
- A similar opportunity exists in both the luxury and premium passenger car segments in the automotive brake system market. However, a slightly higher CAGR is projected in the premium passenger car segment as mid-sized customers typically gravitate towards premium cars. The premium passenger car automotive brake system market could easily cross a value of US$ 3 billion at the end of 2022. Europe is home to a number of premium and luxury car manufacturers as several of them have a long-standing heritage and are globally renowned.
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- The OEM channel holds the lion’s share of the automotive brake system market by sales channel segment in the year 2017 and is estimated to remain dominant for the foreseeable future. The OEM channel may generate an absolute dollar opportunity of over US$ 5 billion from 2017 to 2022
- The companies profiled in the automotive brake system market report are ZF Friedrichshafen AG, Wabco Holdings Inc, Robert Bosch GmbH, Mando Corporation, Knorr-Bremse AG, Continental AG, Brembo SpA, Akebono Brake Industry Co., and Aisin Seiki
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