Source: Reportlinker.com announcement
NEW YORK – The global brake system market was estimated at $22.98 billion in 2021; is expected to reach $24.60 billion in 2022, and is projected to grow at a compound annual growth rate (CAGR) of 7. 33 percent, reaching $35.14 billion by 2027, according to a new study released by Reportlinker.com.
The market analysis is presented in the report Brake System Market Research Report by Product, Technology, Actuation, Distribution Channel, Vehicle, Region – Global Forecast to 2027 – Cumulative Impact of COVID-19.
The report provides market sizing and forecast across seven major currencies – USD, EUR, JPY, GBP, AUD, CAD, and CHF.
It helps organization leaders make better decisions when currency exchange data is readily available.
In this report, the years 2018 and 2020 are considered as historical years, 2021 as the base year, 2022 as the estimated year, and years from 2023 to 2027 are considered as the forecast period.
Market Segmentation & Coverage:
This research report categorizes the brake system to forecast the revenues and analyze the trends in each of the following sub-markets:
Based on technology, the market was studied across antilock braking systems (ABS), electronic brakeforce distribution (EBD), electronic stability control (ESC), and traction stability control (TCS).
Based on actuation, the market was studied across hydraulic and pneumatic.
Based on distribution channel, the market was studied across aftermarket and original equipment manufacturers (OEMs).
Based on vehicle, the market was studied across HCV, LCV, off-highway, and passenger car.
Based on region, the market was studied across Americas, Asia-Pacific, and Europe, Middle East & Africa.
The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas.
The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam.
The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom.
Cumulative Impact of COVID-19:
COVID-19 is an incomparable global public health emergency that has affected almost every industry, and the long-term effects are projected to impact the industry growth during the forecast period. Our ongoing research amplifies our research framework to ensure the inclusion of underlying COVID-19 issues and potential paths forward.
The report delivers insights on COVID-19 considering the changes in consumer behavior and demand, purchasing patterns, re-routing of the supply chain, dynamics of current market forces, and the significant interventions of governments. The updated study provides insights, analysis, estimations, and forecasts, considering the COVID-19 impact on the market.
Cumulative Impact of 2022 Russia Ukraine Conflict:
We continuously monitor and update reports on political and economic uncertainty due to the Russian invasion of Ukraine. Negative impacts are significantly foreseen globally, especially across Eastern Europe, European Union, Eastern & Central Asia, and the United States.
This contention has severely affected lives and livelihoods and represents far-reaching disruptions in trade dynamics. The potential effects of ongoing war and uncertainty in Eastern Europe are expected to have an adverse impact on the world economy, with especially long-term harsh effects on Russia. This report uncovers the impact of demand and supply, pricing variants, strategic uptake of vendors, and recommendations for Brake System market considering the current update on the conflict and its global response.
To view the entire announcement, click HERE.