The worldwide automobile brake system market is flooded with advanced, modern and cost effective brake system technologies. Canada (21.73%), Mexico (19.22%), Japan (16.33%), China (13.56%) and Brazil (6.54%) are the largest manufacturing countries of automobile brake systems in the world. The braking system constitutes an integral part of an automobile. Failure of the automobile brake system at the time of emergency can lead to accidents, property damage or even death of an individual. In recent years, braking systems have undergone tremendous changes in terms of performance, technology, design and safety. Today, the brake system market is bombarded with so many new and innovative technologies such as electronic brakes, anti lock brakes, cooling brakes, disc brakes, drum brakes, hand brakes, power brakes, servo brakes and brake by wire. Anti lock brake systems are the most sought after these days, which are now used in almost all the vehicles.