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The global automotive brake system market is expected to reach a valuation of US$ 29,548.6 Million by 2032, with sales growing at a stellar CAGR of 16.9% from 2022 to 2032. Scaling up from an estimated value of US$ 6,113.2 Million in 2022, the target market is likely propelled by the surge in consumer demand and the heightened spending on automobiles.

All braking systems apply the force of friction in order to function. Friction resists the relative movement of the bodies that are in touch with each other. The force of friction relies upon the properties of surface materials in contact as the friction force pushes them together to attain a braking impact. Owing to the escalation in road traffic accidents, this braking motion is crucial in automobiles.

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Thus, the automotive brake system market is expected to register considerable growth over this observation period. The automotive industry will experience bright market prospects in both developed and developing economies as governments across the world are implementing strict regulations for vehicular safety.

Moreover, the introduction of smart braking systems in the automotive brake system market has led to a decline in the number of accidents. The latest improvements in this market protect vehicles from skidding which lessens the risk of accidents. The swift rise in the production and sales of vehicles along with the implementation of strict mandates regarding stopping distances and other vehicular safety rules will likely be major contributors to the growth of the target market during the forecast period.

The automotive brake system market in Europe is predicted to demonstrate impressive growth, accounting for about 29.7% of the total market share. The strong presence of key market players along with the elevated popularity of commercial vehicles in European countries propels the target market growth in this region. The Asia Pacific, too, will undergo considerable growth in the automotive brake system market. This growth can be attributed to the expanding automobile sector in this region. Countries like China, Japan, India, and South Korea will present significant growth during the forecast period.

The market for automotive brake systems is expanding as a result of the region's adoption of electric vehicles and their rapid expansion in terms of technology. The market for automobile brake systems in this region is also growing as a result of government incentives for R&D projects. For instance, in February 2020, the technology corporation Continental announced plans to build a new facility in the US state of Texas' New Braunfels.

“Increasing emphasis on road safety coupled with increased consumer spending on automobiles will likely spur the global growth of the automotive brake system market over the forecast period,” says an FMI analyst.

For more information: https://www.futuremarketinsigh....ts.com/reports/autom

Key Takeaways:

Low awareness and price volatility of the raw materials may impede the market growth.
Increasing traffic accidents stimulate the market growth during 2022-2032.
The automotive brake system market in Europe will account for 29.7% of the market share.
North America’s automotive brake system market holds 24.8% share of the global market.
Competitive Landscape

TRW Automotive Holdings Corp., Aisin-Seiki Co. Ltd., Continental AG, Akebono Brake Industry Co. Ltd., Brembo S.P.A., Halla Mando Corp., and others are some of the major players in the automotive brake system market profiled in the full version of the report.

Leading market players are focusing on product innovation and development so as to cater to the increasing consumer demand. These businesses are also keen on new product releases, partnerships, and collaborations to gain a competitive advantage.

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KÄSSBOHRER, TRITON INTERNATIONAL LIMITED, SCHMITZ CARGOBULL, CHEETAH CHASSIS CORPORATIO. AND FLIEGL FAHRZEUGBAU GMBH ARE AMONG THE KEY MARKET PLAYERS OPERATING IN THE 40-FOOT CONTAINER CHASSIS MARKET.

The 40-foot container chassis market is generally used by intermodal equipment providers (IEP), shipping lines, and motor carriers, which involves regional and local movement of containers by trucks. Chassis is used for moving containers from loading areas to the yard, as well as to yard storage areas, at terminals. The chassis systems are strong and sturdy and protect containers from the impact of sharp and sudden movements when in transit, thereby ensuring efficient and safe transportation.
Regulatory bodies and regulations such as the Federal Motor Carrier Safety Administration (FMCSA), container safety certificate (CSC), and the International Organization for Standardization (ISO) have a strong influence on the manufacturing and sale of container chassis. In February 2021, Federal Motor Carrier Safety Administration (FMCSA) enforced its Intermodal Chassis rule that requires intermodal equipment providers (IEPs), motor carriers, and drivers to share responsibility for the safety of intermodal equipment used on highways. Further, government investments in highway and road infrastructure to enhance the quality of roads, railroads, ports, and air transport are anticipated to trigger the demand for container chassis in the coming years. An improved transportation infrastructure would boost logistics operations in the commercial and industrial sectors, thereby aiding in the secure and timely delivery of goods and services. In March 2023, the provincial government of Newfoundland and Labrador announced an investment of ~US$ 1.4 billion to enhance road and highway transportation infrastructure over the next five years. In March 2023, the UK government announced plans of investing ~US$ 43.50 (£ 4 billion in transformational transport schemes across the country over the next two years. 40-foot container chassis are used in various commercial and industrial transportation.

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Electric Vehicle Charging Infrastructure Market: A Look at the Industry's Current Status and Future Outlook

The Global Electric Vehicle Charging Infrastructure market report presents comprehensive information covering insightful data for businesses and investors. The report studies the historical data of the Electric Vehicle Charging Infrastructure market and offers valuable information about the key segments and sub-segments, revenue generation, demand and supply scenario, trends, and other vital aspects.

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TOP SHOPIFY DEVELOPMENT COMPANIES IN SINGAPORE TO CONSIDER
Are you looking for some reliable Shopify development companies in Singapore? To maximize your success, it’s a good idea to find professional assistance from experienced developers in this particular system. In this post, we will go over some of the top Shopify development companies in Singapore. Then, you will know where to turn when your own project launches.
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A research report on the Natural (Bio-based) Resin Market has been published by Fortune Business Insights, offering an extensive analysis of the market landscape. The report covers various aspects such as current trends, growth rate (CAGR), opportunities, market risks, and key factors driving market growth. The global natural (bio-based) resin market size was USD 5.29 billion in 2022. The market is anticipated to expand from USD 5.82 billion in 2023 to USD 11.95 billion by 2030 at a CAGR of 10.8% over the study period.

Source: https://www.fortunebusinessins....ights.com/natural-bi

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