According to Future Market Insights (FMI), the automotive brake valve market is poised to reach US$ 12,109 Million by the end of 2032. The automotive brake valve market is projected to exhibit a CAGR of 5.9% over the forecast period (2022-2032).
Growth in the market is underpinned by rising demand for high-speed racing cars, stringent regulations to mandate fitment of anti-lock brake systems (ABS) in passenger cars and commercial vehicles. Also, integrated electronic braking systems, and growing adoption of electrohydraulic brake valves in brake systems are driving the demand in the market.
Further, with expansion of automotive industry and growing sales of SUVs and LCVs , especially in East Asia and Europe, the market is predicted to witness positive growth outlook over the assessment period. As governments across the globe mandates safety regulations for drivers and passengers, leading auto-companies are using advanced technologies to adhere to the stringent regulations. This is predicted to improve the demand in the market.
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Key Takeaways from Market Study
- During the forecast period, the automotive brake valve market will expand at a CAGR of 9% (2022-2032).
- By material type, steel is estimated to account for the highest share of more than 33% under the material segment in terms of value in 2022.
- On the basis of vehicle type, the LCVs will dominate the market creating an incremental opportunity of nearly US$ 1,603.9 Million from 2022 to 2032.
- By sales channel, OEM is set to account for more than 2% of the global automotive brake valve market.
- Based on product type, the ABS modular valves held the largest market share and are projected to lead over the forecast period.
“With increased safety regulations for drivers and passengers, key companies are deploying their advanced and safest technology to ensure the automotive brake system. Some of the key players are capitalizing on surging sales of SUVs and LCVs in emerging nations to increase their revenue”: says a Future Market Insights analyst.
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Market Landscape
The automotive brake valve market is identified to be consolidated, comprising market players such as Wabtec Corporation, Master Power Brakes, and Parker Hannifin Corp. Market players forming supply contracts with local and regional automotive ancillaries are expected to drive market growth. Furthermore, tie-ups between ABS and brake valve manufacturers are fueling automotive brake valve market growth. Moreover, the continual dependency of local automotive OEMs on aftermarket sales will surge demand for automotive brake valves during the forecast period.
Key Segments Covered in Automotive Brake Valve Industry Analysis
Product Type:
- Combination Valves
- Quick Release Valves
- Metering Valves
- ABS Modular Valves
- Foot & Hand Valves
- Parking Brake Valve Valves
- Emergency Valves
- Check Valves
- Spring valves
- Proportional valves
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Vehicle Type:
- Compact Cars
- Mid-Sized
- Luxury Cars
- SUVs
- HCVs
- LCVs
Material Type:
- Steel
- Copper
- Brass
- Alloys
Sales Channel:
- OEM
- Aftermarket
Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa
Know More About Automotive Brake Valve Market!
The research report analyses the market demand trend for the automotive sunroof. The global automotive brake valve market is based on macroeconomic factors, market trends & market background. As per Future Market Insights’ research scope, the automotive brake valve market report is studied and analyzed in the following segments such as by product type, vehicle type, material type, sales channel, and regions. The automotive brake valve market report gives us qualitative and quantitative information about the leading companies, incumbents, and their strategic moves to gain competitive edge.
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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