Showing posts with the label automotive braking system market share

The Definitive Study of Automotive Braking System Market

Introduction It is expected that in 2024, the automotive braking system market size is going to grow at a CAGR of 1.62% with a market size of US$38.738 billion from US$35.180 billion in 2018. Swift growing demand for automobiles owing to an increase in disposable income in the major developing economies around the globe is expected to drive the demand for braking systems. Furthermore, an increasing number of road accidents has led the manufacturers to spend heavily in R&D to bring out the state-of-art technology for advanced and safe braking systems which is also expected to augment the demand and thus drive the automotive braking system market growth during the forecast period.                                                                                                                          Automotive braking system Market by Vehicle Type By vehicle type, the automotive braking system market is segmented as passenger vehicles and commercial vehicles. The