APAC’s Auto Braking Market To Grow 2.8% CAGR Till 2028

- Advertisement -

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.

- Advertisement -

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.

- Advertisement -

Most Popular Articles

Aryaman Raghuvanshi
Aryaman Raghuvanshi
Aryaman Raghuvanshi is a Journalist at EFY. His passion is to explore the future of mobility, which gets him to cover latest technologies shaping the future of automobiles and EVs. But, at times he writes on broader technologies too. LinkedIn: https://www.linkedin.com/in/aryaman-raghuvanshi-2431b7153

Force Motors Goes Global And Enters EV Market

0
The manufacturer of vans and utility vehicles has hired E&Y to assist with business restructuring and the digital transformation of its entire value chain....

Tessolve Acquires German Chip Firm With ₹4B To Expand Global Reach

0
Ramping up AI, automotive, and data centre chip design to lead the semiconductor race, Hero Electronix subsidiary Tessolve aims to boost its global edge...
Samsung Chip

Samsung Shifts Strategy, Set To Quit LED Business

0
Following disappointing financial results and a loss of market edge, Samsung is exiting the LED business by 2030, shifting its focus to more 'promising'...

Hero MotoCorp To Launch Vida Electric Two-Wheeler In Europe And UK

0
Hero MotoCorp revealed its intention to enter the European and UK markets with its electric vehicle line, Vida, commencing in late 2025. At the...

China Challenges EU Electric Vehicle Tariffs At WTO

0
Last month, the European bloc declared that it would impose import tariffs as high as 35% on Chinese electric vehicles, claiming that these exports...

“Adoption Of IoT-Enabled SMT Machines Is Still In Early Phases” – Pradeep Tandon, Director...

0
While electronics are becoming smarter through the Internet of Things, is electronics manufacturing following suit? Pradeep Tandon, Director for India, Middle East, and SAARC...
Dr Yashodhan P. Gokhale, Vice President for Battery Technology, JSW Energy

Charge Forward: High-Voltage Batteries And MSMEs Can Fuel India’s EV Revolution

0
A nuanced explanation of low- and high-voltage EV batteries by Dr Gokhale, Vice President for Battery Technology at JSW Energy, illuminates their advancements and...
Sanjay Gupta, CDO & Global Head of Engineering, L&T Semiconductor Technologies

Can MSMEs Contribute And Profit From The Semicon Boom?

0
Semiconductor manufacturing often requires significant investment, typically feasible only for governments or large corporations. But are there opportunities for MSMEs as well? We spoke...
N.P. Ramesh, COO and Co-Founder, Orb Energy

“We Ensured Customers’ Monthly EMI Would Be Equal To Or Less Than Their Electricity...

0
In a conversation with Nitisha from EFY, N.P. Ramesh of Orb Energy outlines the early financing challenges customers faced. He explains how Orb Energy’s...

“Government Policy Should Equitably Address All Electric Vehicles: Extend Subsidies To Retrofits Or Remove...

0
Aryaman Raghuvanshi from EFY engages with Pramod Narendra, Head of Brand Management and Retail Network at Starya Mobility, to explore the overlooked potential of...

Wireless Light-Based Communication With Velmenni’s Technology

0
Velmenni is at the forefront of wireless communication innovation with its pioneering light-based technologies, Li-Fi and LC Link. Founded by Deepak Solanki in October 2014...

Harnessing AI Technology For Efficient Pest Management

0
AI-Genix, an agri-tech startup, is transforming pest management for farmers through advanced AI-enabled systems that precisely target harmful pests. In an industry where pesticides and...

One Charger To Charge All Your Devices

0
Now, there is no need to carry different chargers for different products. This Bhubaneswar startup has launched a universal 65W charger using GaN technology...

Karnataka Government Initiative Promises ₹5M To Tech Startups

0
Boosting innovation and entrepreneurship across the state’s vibrant ecosystem, Karnataka launched Elevate 2024 and KAN, offering grants up to ₹5 million for startups. On Tuesday,...

CastNX Tech Startup Secures ₹232M For Power Electronics Growth

0
Eyeing to boost R&D and produce 100,000 variable frequency drives by 2026, Indian power electronics startup CastNX has secured ₹232.2 million from Plutus Investments. CastNX...

Industry's Buzz

Learn From Leaders

Startups