Albany, NY -- (SBWire) -- 11/06/2017 --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.
The automotive brake system market is predicted to record substantial growth over the course of the forecast period because the automotive industry has a bright future ahead of it in both developed and emerging economies. Increasing safety concerns have led to governmental mandates that lay down the guidelines pertaining to vehicular safety norms. The growth in the automotive brake system market is directly linked to that of the demand for passenger cars as well as commercial vehicles. Furthermore, new technological innovations such as ABS and regenerative braking have become prominent in the last decade. The automotive brake system market is anticipated to be worth more than US$ 25 billion by the end of 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.
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.
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.
Report Overview with TOC @ https://www.persistencemarketresearch.com/market-research/automotive-brake-system-market/toc
Automotive Brake System Market Is Projected to Reflect 5.7% CAGR Throughout 2017-2022
The automotive brake system market is predicted to record substantial growth over the course of the forecast period because the automotive industry has a bright future ahead of it in both developed and emerging economies.