Forecast of Global Automotive Brake System and Components Market 2023

The worldwide market for Automotive Brake System & Components is expected to grow at a CAGR of roughly 3.3% over the next five years, will reach 7060 million US$ in 2023, from 5820 million US$ in 2017. A brake is a mechanical device that inhibits motion by absorbing energy from a moving system. It is used for slowing or stopping a moving vehicle, wheel, axle, or to prevent its motion, most often accomplished by means of friction.