The global automotive disc brake market will touch USD 18 billion at a 7% CAGR by 2025, states the latest Market Research Future report.
New York, United States - January 19, 2022 /MarketersMedia/ —
Market Analysis
The global automotive disc brake market will touch USD 18 billion at a 7% CAGR by 2025, states the latest Market Research Future report.
Drivers
Growing Norms to Reduce Road Fatalities to Boost Market Growth
As the need for cars is surging, the regulatory mandates to make the cars safer is also on the rise, thus leading to an increase in demand for brakes. Different government bodies especially in India have taken steps to regulate safety-critical components within passenger and commercial vehicles that has led to a burgeoning need for automotive disc brakes. Besides, the increase in road accidents for the brake failure is compelling government bodies in introducing new norms that will help to reduce fatalities. This will boost market growth over the forecast period.
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Opportunities
Emergence of Autonomous Vehicles to offer Robust Opportunities
The emergence of autonomous/self-driving vehicles will offer robust opportunities for the market over the forecast period.
Market Challenges
Dearth of Skilled Workers to act as Market Challenge
The dearth of skilled workers may act as a market challenge over the forecast period.
Market Segmentation
The automotive disc brake market is bifurcated based on vehicle type and type.
By type, the fixed caliper segment will lead the market over the forecast period
By vehicle type, passenger cars segment will dominate the market over the forecast period.
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COVID-19 Analysis
The COVID-19 outbreak possessed a negative effect on several industries. The tremendous rise in the spread of this deadly virus has compelled governments across the globe in spreading the deadly virus has forced governments across the globe in imposing strict movement restrictions. Owing to travel bans, business shutdowns, and mass lockdowns, the outbreak has impacted the economies and several industries in different countries. The government imposed lockdown has led to a drastic fall in service activities and production. Aviation, mining, oil and gas, semiconductor and electronics, automotive, manufacturing and others have faced a decline in their operations for the shutdown of activities on a temporary basis. The pandemic has also affected the auto sector. This led to the shutting down of assembly plants, disruptions in supply chain, and slowdown in manufacturing processes.
Key Players:
Eminent players profiled in the automotive disc brake market report include
EBC Brakes (UK)
TRW Automotive (US)
Nissin Kogyo Co.
Ltd (Japan)
and Aisin Seiki Co.
Ltd (Japan)
Mando Automotive India Private Limited (India)
Haldex AB (Sweden)
Federal-Mogul Motorparts LLC. (US)
Knorr-Bremse AG (India)
Akebono Brake Corporation (Japan)
and Brembo SpA (Italy).
Intended Audience:
Automotive disc brake manufacturers
Distributor & Supplier companies
End Users
Consultants and Investment bankers
Government as well as Independent Regulatory Authorities
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Segmentation: Global Automotive Disc Brake Market
MRFR segments the global automotive disc brake market based on type, vehicle type, and region. By type, the global disc brake market has been segmented into fixed caliper, floating caliper, and sliding caliper. The factors such as good thermal conductivity, low noise, and long durability drive the growth of the fixed caliper segment in the global market. By vehicle type, the global disc brake market has been segmented into passenger car (PC), light commercial vehicle (LCV), and heavy commercial vehicle (HCV). The passenger car segment is likely to lead the market during the forecast period due to the increasing demand for floating caliper design in passenger cars due to its low weight and high-performance SUVs.
Among all the region, in 2018, the global automotive disc brake market was dominated by the Asia-Pacific, followed by Europe and North America. The market in Asia-Pacific is projected to grow at a rapid pace over the forecast period due to high sales of automobiles across the region. Furthermore, expansion of automotive OEMs in developing economies such as China and India are driving the market for automotive disc brake.
The European market is expected to register significant growth during the forecast period due to stringent vehicle safety norms, presence of large automobile production facilities, and huge demand for environment-friendly and high-performance vehicles. However, the market in North America is projected to register significant growth over the forecast period due to favorable government initiatives for the safety of vehicle and passenger. Furthermore, a stable economy, advanced technology, and a rise in demand for autonomous and environment-friendly vehicles from the US and Canada are factors likely to further boost the market growth in North America.
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Source URL: https://marketersmedia.com/automotive-disc-brake-market-to-touch-usd-18-billion-at-7-cagr-by-2025/89060724
Source: MarketersMedia
Release ID: 89060724
