Global Automotive Brakes And Clutches Market Research 2024, Forecast To 2033
14 Feb, 2024
The market for automotive brakes and clutches has exhibited strong growth, rising from $25.7 billion in 2023 to $27.04 billion in 2024, marking a 5.2% CAGR. Historical growth is attributed to early automobile development, increased vehicle mass and speed, adoption of hydraulic brake systems, demand for improved safety features, and the evolution of automotive manufacturing processes. Future projections indicate continued strong growth, reaching $33.57 billion in 2028, with a 5.6% CAGR. Anticipated drivers include the electrification of vehicles, development of smart braking systems, focus on energy recovery systems, continued emphasis on safety, and autonomous driving.
Global Automotive Brakes And Clutches Market Key Driver
The thriving automotive industry is driving the growth of the automotive brakes and clutches market. McKinsey predicts a substantial increase in the automotive revenue pool, reaching about $5.2 trillion. This surge, representing a 50% growth from 2015, highlights the expanding opportunities within the automotive sector. The automotive industry's growth trajectory is not limited to traditional car sales but also encompasses aftermarket products and services. With a projected annual growth rate of around 2% by 2030, the global car sales surge contributes significantly to the thriving automotive brakes and clutches market.
Get A Free Sample Of The Global Automotive Brakes And Clutches Market ReportGlobal Automotive Brakes And Clutches Market Segments
The automotive brakes and clutches market covered in this report is segmented –
1) By Product: Original Equipment Manufacturer (OEM), After Market
2) By Clutch Type: Friction Clutch, Dog Clutch, Hydraulic Clutch, Other Clutch Types
3) By Transmission Type: Manual Transmission, Automatic Transmission, Automated Manual Transmission (AMT), Other Transmission Types
4) By Application: Passenger Car, Commercial Vehicle
By Geography: The regions covered in the template market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions.
North Americawas the largest region in the automotive brakes and clutches market in 2023. The regions covered in the automotive brakes and clutches market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Automotive Brakes And Clutches Industry Players
FCC Co. Ltd.; BorgWarner Inc.; NSK Ltd.; Valeo Service Group; Robert Bosch GmbH; Brembo SpA; Continental AG; ZF Friedrichshafen AG; Marelli Holdings Co. Ltd.; Exedy Corporation; Eaton Corporation; Aisin Seiki Co. Ltd.; Autoliv Inc.; Tenneco Inc.; Mando Corporation; Knorr-Bremse AG; Wabco Holdings Inc.; Haldex AB; Meritor Inc.; Hitachi Automotive Systems Ltd.; Nissin Kogyo Co. Ltd.; Advics Co. Ltd.; Federal-Mogul Motorparts LLC; Bendix Commercial Vehicle Systems LLC; TRW Automotive Holdings Corp.; Delphi Technologies plc; Charlotte Baur Formschaumtechnik GmbH; Woco Industrietechnik GmbH; Roechling Group; Erlingklinger AG
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Automotive Brakes And Clutches Market Overview
Automotive brakes and clutches help in the effective control of vehicles. A brake refers to a transmission and control device that stops a moving load and regulates movement. A clutch refers to a transmission and control device that helps with energy transfer from the driver to the driven shaft. The automotive brakes and clutches are used to change the rotational speed of rotating tires of vehicles.
Automotive Brakes And Clutches Global Market Report 2023 provides data on the global automotive brakes and clutches market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The automotive brakes and clutches market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.