Comprehensive Report on Global Automotive Braking System Market by Knowledge Sourcing Intelligence
The automotive braking system is projected to grow at a CAGR of XX% to reach US$ XX billion by 2024 from US$ XX billion in 2018. A braking system is an arrangement of combined linkages and components such as brake lines, drums/discs, master cylinder etc. that are arranged in such a manner that converts a running vehicles kinetic energy to heat energy which in turn deaccelerates or stops the running vehicle. Rapid growing demand for automobiles owing to increase in disposable income is expected to drive the demand for braking systems. Furthermore, the 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 anticipate the market growth opportunities during the forecast period. Impact of Increasing Number of Road Accidents: In an automobile, a braking system is an arrangement of various compon