Indian Automotive Braking System Market reached US $XX Mn in 2018 and is expected to reach US $XX Mn by 2026 at a CAGR of XX%. 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.
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.
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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.
Brake System Market, by regionIndian 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, 2019. 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.
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Scope of the Indian Automotive Braking System Market
Brake System Market, By Brake Type
• Disc Brake
• Drum Brake
Brake System Market, By Vehicle Type
• Passenger Vehicles
• Heavy Commercial Vehicle
• Light Commercial Vehicle
Brake System Market, By Technology
• Anti-Lock Braking System (ABS)
• Electronic Stability Control (ESC)
• Traction Control System (TCS)
• Electronic Brake-Force Distribution (EBD)
Brake System Market, by region
• North America
• Asia pacific
• Middle East & Africa
• Latin America.
Key Players in Indian Automotive Braking System Market
Aisin Automotive Haryana Private Limited
TRW Automotive Holdings Corp
Sarbestos Auto Spares Pvt Ltd
ZF India Pvt Ltd
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