The Automotive Brake Valve Market is set for significant growth, projected to achieve a compound annual growth rate (CAGR) of 5.9% during the forecast period. According to FMI’s analysis, the market is expected to expand from USD 12,738.7 million in 2023 to USD 22,598.7 million by 2033.
Key Drivers of Growth:
- Rising Demand for Efficient Braking Systems: The increasing focus on highly efficient and effective braking systems, combined with efforts to reduce emissions, is a primary driver of market growth. Automotive brake valves play a vital role in enabling precise application and control of braking force, minimizing energy wastage.
- Shift Towards Smaller, Lighter Components: The trend toward smaller and lighter automotive brake valves is enhancing fuel efficiency in vehicles, making them more attractive to consumers and manufacturers alike.
- High-Performance Racing Cars: The growing demand for high-performance racing cars and stringent regulations mandating anti-lock braking systems (ABS) in both commercial and passenger vehicles are contributing to the expansion of the market.
- Adoption of Advanced Technologies: The increasing use of electrohydraulic brake valves and integrated electronic braking systems is expected to further drive market growth.
- Emerging Markets and Technological Advancements: The rise of emerging markets, rapid technological advancements, and shifting consumer ownership preferences are significant contributors to the market’s expansion. Supportive environmental policies are also encouraging the development of more efficient braking systems.
Trends Transforming the Market:
- Changing Transportation Dynamics: Trends such as the growth of online delivery services, on-demand mobility solutions, and varying travel patterns (including solo travel and family outings) are reshaping the transportation landscape. Over the past two decades, the surge in car demand has intensified competition among automakers.
- Focus on Innovative Technologies: To strengthen their market position, companies are investing in innovative technologies to attract customers. Advanced braking systems that enhance passenger security and safety are anticipated to drive substantial market growth in the coming years.
Request Your Product Sample Now!
Top Highlights from the FMI’s Analysis of the Automotive Brake Valve Market:
- The United States automotive brake valve industry is projected to attain a 15.3% market share in 2023.
- The German automotive brake valve industry is anticipated to account for a 7.9% value share in 2023.
- The Japan automotive brake valve industry is expected to represent a 3.2% market share in the current year.
- The Australian automotive brake valve industry is estimated to record a 1.5% value share in the present year.
- The China automotive brake valve industry is expected to account for 6.1% CAGR over the forecast period.
- The India automotive brake valve industry is projected to register a CAGR of 5.8% during the review period.
- The United Kingdom automotive brake valve industry is projected to propel at a CAGR of 5.6% in the upcoming years.
- Under the product type category, the check valves segment is projected to attain a value share of 21.3% over the forthcoming years.
- Based on vehicle type, the mid-sized segment is assessed to gain a market share of 23.4% over the forecast period.
Competitive Landscape
Leading players operating in the market are forming partnerships and aiming for mergers among distributors and suppliers to increase their product offerings. They are also focusing on establishing partnerships and joint ventures with foreign local companies to guarantee proper local marketing of the products and gain a competitive edge over rivals.
Key Players of Automotive Brake Valve Market
- Wabtec Corporation
- Master Power Brake Valves
- PARKER HANNIFIN CORP
- Poclain
- Continental AG
- Hitachi Ltd
- Denso Corporation
- Delphi Automotive
- Sundoz Co. Ltd
- Alfmeier Precision SE
- MAHLE Gmbh
- Brake Valve Systems Inc
- Qingdao MABCC International Trade Co., Ltd
- Haldex
- Mico Inc. (a Wabco Company)
- Knorr-Bremse AG
Latest News Depicting Current Market Scenario
- Nisshinbo Holdings of Continental and Japan set up a new joint venture in March 2022 to localize valve block machinery for Electronic Brake Systems (EBS) of Continental in India. Within the EBS portfolio, Electronic Stability Control (ESC) and Anti-lock Brake Systems (ABS) are included for passenger cars and two-wheelers.
- In October 2019, Hitachi Ltd. and Honda Motor Co. agreed to unite four of their automotive parts businesses to conjure up a component supplier with nearly USD 17 Billion in yearly sales.
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 Valves
- Emergency Valves
- Check Valves
- Spring valves
- Proportional valves
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 (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube