Categories: Market Research

Brake Lines Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Brake Lines Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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https://www.thebusinessresearchcompany.com/report/brake-lines-global-market-report

According to The Business Research Company’s Brake Lines Global Market Report 2024, 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 in the historic period can be attributed to automotive industry growth, stringent safety regulations, consumer demand for vehicle safety, focus on weight reduction in vehicles, expansion of global automotive production, 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 growth in the forecast period can be attributed to transition to electric and hybrid vehicles, global emphasis on vehicle safety standards, shift towards autonomous vehicles, increased focus on environmental sustainability, expansion of electric and autonomous vehicle aftermarket.. Major trends in the forecast period include adoption of advanced coating technologies, focus on integration of brake line sensors, shift towards electro-hydraulic brake systems, development of flex brake lines for electric vehicles, increasing emphasis on environmental sustainability, adoption of 3d printing technology for brake line components..

Increasing demand for automobiles is expected to propel the growth of the brake lines market going forward. Automobiles are self-propelled vehicles designed for personal transportation, typically powered by internal combustion engines or electric motors. Brake lines in automobiles are crucial for transmitting hydraulic pressure from the brake pedal to the wheel brakes, enabling precise control of braking force and ensuring safe and effective vehicle stopping. For instance, in August 2023, according to MarkLines Co. Ltd., a Japan-based automotive industry portal, sales of passenger cars in the US increased by 12.7% from 248,704 units in August 2022 to 280,223 units in August 2023. Sales of light trucks increased by 17.2%, from 905,069 units in August 2022 to 1,060,946 units in August 2023. Therefore, the increasing demand for automobiles is driving the growth of the brake lines market.

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The brake lines market covered in this report is segmented –

1) By Materials: Steel, Aluminum, Rubber, Other Materials

2) By Vehicle Types: Passenger Cars, Commercial Vehicles

3) By Sales Channels: OEM (Original Equipment Manufacturer), Aftermarket

Major companies operating in the brake lines market are focused on developing brake lines with advanced aerodynamics to improve their profitability in the market. Incorporating advanced aerodynamics into brake line design enhances efficiency and performance by reducing drag and improving braking responsiveness. For instance, in July 2022, Orbis Brakes Inc., a US-based manufacturer of motor vehicle brakes, launched the Periodic Wave disc brake line, which uses advanced aerodynamics to provide superior surface cooling and reduce brake fade. This is achieved through a patented design that creates periodic waves on the brake rotor’s surface, which increases airflow and reduces heat buildup. The brake line has been developed in collaboration with the National Aeronautics and Space Administration (NASA), a US-based independent agency of the federal government. Also, it is expected to provide supercar performance at an affordable price.

The brake lines market report table of contents includes: