Automakers are transitioning from electrohydraulic to brake-by-wire tech. Many emerging countries are adopting ABS as a standard, mirroring richer nations. Consequently, the APAC automotive braking market is projected to grow at a 2.8% CAGR from 2023-2028, per GlobalData.
The rise in hybrid and electric vehicle sales drives demand for brake-by-wire technology and other advanced automotive brake systems. Consequently, manufacturers are transitioning from electrohydraulic technology to brake-by-wire. Several emerging countries are now setting anti-lock braking systems (ABS) as the default in new passenger vehicles, emulating wealthier nations. In this context, the automotive braking systems market in Asia-Pacific (APAC) is projected to grow at a 2.8% CAGR from 2023 to 2028, as reported by GlobalData, a top data and analytics firm.
GlobalData’s recent report titled “Global Sector Overview & Forecast – Braking Systems” states that the APAC braking systems market could touch 302.8 million units by 2028, further rising to 348.2 million units.
Lucy Tripathi, a Senior Automotive Analyst at GlobalData, feels that auto manufacturers are always innovating for safer driving experiences. Features such as electronic stability control (ESC) and ABS prevent skidding and maintain vehicle control. These advancements in vehicle safety tech could boost the automotive brake systems market growth.
The growth in APAC’s automotive braking systems market over the coming years will be fueled by increased road safety awareness and the rise of wealthy households. The evolution of braking systems in this region has benefited from stringent safety regulations by governments and regulatory bodies. These new technologies reduce accident risks by preventing vehicle skidding. Tripathi also noted the anticipated significant growth in the APAC automotive braking systems market offers numerous opportunities for stakeholders. This is especially true as battery electric and hybrid vehicle sales are expected to surge.
With modern high-tech cars, braking is increasingly automated, and this trend will strengthen with advancements in autonomous tech. Regulatory mandates are also impactful. Major APAC nations are pushing for a requirement where vehicles must have some form of autonomous braking to enhance road safety.
Tripathi further highlighted that as global road infrastructure improves and passenger vehicles attain higher speeds, safe braking systems become paramount. The rise in accidents has prompted automakers to incorporate advanced braking systems like ABS and advanced driver-assistance systems (ADAS). Manufacturers emphasize these features as selling points to differentiate their offerings from competitors.