PUBLISHER: The Business Research Company | PRODUCT CODE: 1455186
PUBLISHER: The Business Research Company | PRODUCT CODE: 1455186
Brake lines play a crucial role in an automobile's braking system by facilitating the transport of brake fluid from the master cylinder to the brake calipers or wheel cylinders, allowing hydraulic pressure to be applied to the brakes for vehicle stopping. These lines are typically constructed from materials such as metal, rubber, or a combination of rubber and synthetic materials.
The primary materials used in brake lines include steel, aluminum, rubber, and others. Steel, recognized for its strength as an alloy of iron and carbon with additional elements, is valued for its durability and versatility. These brake lines, composed of steel, are utilized across various vehicle types, including passenger cars and commercial vehicles, and are distributed through various sales channels, including OEM (original equipment manufacturer) and aftermarket.
The brake lines market research report is one of a series of new reports from The Business Research Company that provides brake lines market statistics, including brake lines industry global market size, regional shares, competitors with a brake lines market share, detailed brake lines market segments, market trends and opportunities, and any further data you may need to thrive in the brake lines industry. This brake lines market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The brake lines market size has grown strongly in recent years. It will grow from $29.3 billion in 2023 to $30.83 billion in 2024 at a compound annual growth rate (CAGR) of 5.2%. The growth observed in the historical period can be attributed to the expansion of the automotive industry, the implementation of stringent safety regulations, increasing consumer demand for vehicle safety, a focus on weight reduction in vehicles, the global expansion of automotive production, and the popularity of aftermarket brake system upgrades.
The brake lines market size is expected to see steady growth in the next few years. It will grow to $36.27 billion in 2028 at a compound annual growth rate (CAGR) of 4.1%. The anticipated growth in the forecast period can be attributed to the transition to electric and hybrid vehicles, a global emphasis on vehicle safety standards, the shift towards autonomous vehicles, increased focus on environmental sustainability, and the expansion of the electric and autonomous vehicle aftermarket. Major trends expected in the forecast period include the adoption of advanced coating technologies, a focus on the integration of brake line sensors, a shift towards electro-hydraulic brake systems, the development of flex brake lines for electric vehicles, an increasing emphasis on environmental sustainability, and the adoption of 3D printing technology for brake line components.
The brake lines market is poised for growth due to the increasing demand for automobiles. Automobiles, which are self-propelled vehicles designed for personal transportation, rely on brake lines to transmit hydraulic pressure from the brake pedal to the wheel brakes, ensuring precise control of braking force for safe and effective stopping. In August 2023, sales of passenger cars in the US surged by 12.7%, reaching 280,223 units compared to 248,704 units in August 2022. Additionally, light truck sales increased by 17.2%, rising from 905,069 units in August 2022 to 1,060,946 units in August 2023. This surge in automobile demand is a key driver behind the growth of the brake lines market.
The growth of the brake line market is further fueled by the increasing number of road accidents. Brake lines play a crucial role in preventing accidents by enabling effective braking, potentially averting collisions. In May 2023, the Insurance Institute for Highway Safety reported an increase in road crashes in the United States from 35,935 in 2020 to 39,508 in 2021, with fatalities rising from 39,007 in 2020 to 42,939 in 2021. The surge in road accidents emphasizes the importance of effective brake lines in ensuring road safety.
The brake lines market faces challenges due to the development of alternative braking systems. Innovations such as energy recovery systems, regenerative braking, and frictionless braking are being explored to meet the demand for fuel-saving technologies. For instance, ZF Friedrichshafen AG enabled Tevva, a British electric truck maker, to develop a regenerative braking system up to four times more efficient than conventional systems. These alternative braking systems, driven by the pursuit of fuel efficiency and autonomous driving, present a restraint on the traditional brake lines market.
Major companies in the brake lines market are strategically focused on developing aerodynamically advanced brake lines to enhance profitability. Orbis Brakes Inc., a US-based brake manufacturer, introduced the Periodic Wave disc brake line in July 2022. This brake line incorporates advanced aerodynamics, improving efficiency by reducing drag and enhancing braking responsiveness. Developed in collaboration with NASA, the brake line's patented design creates periodic waves on the rotor's surface, promoting airflow and reducing heat buildup. This innovative approach aims to deliver high-performance braking at an affordable price.
In October 2022, AGS Automotive Solutions, a US-based aftermarket manufacturer of brake, fuel, and transmission lines, acquired BrakeQuip LLC to strengthen its product lines. BrakeQuip LLC, also based in the US, is a manufacturer of brake lines. The acquisition aligns with AGS Automotive Solutions' strategy to expand its offerings in brake, fuel, and transmission products.
Major companies operating in the brake lines market report are Stellantis N.V., General Motors Company, Robert Bosch GmbH, Continental AG, Valeo SA, BorgWarner Inc., Yokohama Rubber Company Limited, Sumitomo Riko Company Limited, Cooper Standard Automotive Inc., Dorman Products Inc., Nichirin Co. Ltd., Hitachi Astemo Ltd., Hutchinson SA, StopTech Performance LLC, Wilwood Engineering Inc., Tectran Mfg. Inc., Markin Tubing LP, AGS Company Automotive Solutions LLC, Magnum Shielding Corporation, MZW Motor, Classic Auto Tubes Limited, Earl's Performance Products (UK) Limited, Rubicon Express Co., Russel Performance, Spiegler Brake Systems USA LLC, Stainless Steel Brakes Corporation, Techna-Fit Corporation
Asia-Pacific was the largest region in the brake lines market in 2023. The regions covered in the brake lines market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the brake lines market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The brake lines market consists of sales of brake line kits, brake line flaring tools, brake line fittings, brake line clips and clamps, brake line repair kits, and ABS (anti-lock braking system) brake lines. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Brake Lines Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on brake lines market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for brake lines ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The brake lines market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.