Automotive brake systems are used to control speed and skidding of a vehicle. It includes two major types, namely disk brakes and drum brakes and are used widely in various commercial vehicles and passenger cars. Advanced technologies in the automotive brake systems are Electronic Brake-Force Distribution (EBD), Antilock Braking System (ABS), Traction Control System (TCS), and Electronic Stability Control (ESC).
TCS to Register the Highest Growth Rate Due to Technological Innovations
The ABS segment was the largest technology segment in the past. The ESC segment is likely to show a rapid growth over the forecast period (from 2017 to 2025). This growth is attributed to its increasing adoption as it provides greater vehicle control during emergencies; while the TCS technology is expected to grow at the maximum CAGR from 2017 to 2025. The TCS technology provides safety and ensures better grip in adverse road conditions. In addition, the technology can be implemented using the same settings that can be designed for ABS, which is likely to boost the segment demand.
The companies in this field emphasize on R&D to introduce novel products and technologies. For instance, WABCO India, recently launched an ESC system called ESCsmart in India. The system can be applied in commercial vehicles such as trucks and buses to reduce accidents. The system can monitor vehicle conditions and can autonomously apply brakes in case of an emergency. Tata Motors is their first Original equipment Manufacturer (OEM) customer who has integrated the system in its Prima range of medium and heavy-duty trucks.
Market Overview
According to a report by Grand View Research, Inc., the worldwide automotive brake systems market is expected to attain USD 31.11 billion by 2025. Technological innovations, and implementation of vehicle safety norms are expected to be the key market growth drivers In addition, growing automobile manufacturing sector across the globe as a result of rising demand for vehicles due to increased disposable income and enhanced lifestyles is also likely to drive the market expansion. Region-wise, Asia Pacific is expected to witness rapid development on account of growing automobile production and consumer awareness regarding vehicle safety. Some of the top companies operating in the market include Continental AG, Brembo S.p.A., Robert Bosch GmbH, Aisin Seiki Co., Ltd., and ZF Friedrichshafen AG.
Read more at:
Read more at:
No comments:
Post a Comment