Automotive Brake Systems Market worth US$ 27.81 billion 2019 with a CAGR of 3.70%
Global automotive brake systems market is projected to grow from US$ 27.81 billion in 2019. Rising demand for passenger automobiles is expected to foster the demand for more accurate and reliable brake system which in turn is expected to boost the market. Further, advanced technology such as electronic stability control is envisioned to bolster the global automotive brake system market over the forecast period. The growth in the sales of electric and hybrid vehicles is expected to lead to an increase in demand for the brake-by-wire system, which shall provide growth opportunities for various players in the market in the coming years.
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