Press release
Automotive Pneumatic Disc Brakes Market Estimated to Rise Profitably during the Foreseeable Future
Expansion of logistics and construction industries across the globe is likely to increase the demand for commercial vehicles across the globe. Moreover, continuous research & development in pneumatic disc brakes and growing demand for passenger safety are likely to drive the automotive pneumatic disc brakes market during the forecast period. However, high initial cost and maintenance cost is likely to hamper the automotive pneumatic disc brakes market during forecast period.
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The automotive pneumatic disc brakes market can be segmented based on material, vehicle type, sales channel, and region. Based on material, the market can be classified into cast iron and others. The cast iron segment is likely to dominate the market during forecast period owing to its advantages such as availability at low cost, easy machinability, and longer lifespan.
Based on vehicle type, the automotive pneumatic disc brakes market can be segregated into passenger vehicles and commercial vehicles. There has been an increase in demand for commercial vehicles across the globe. Countries in North America, Europe, and Asia Pacific witness stable economic conditions, high percentage of urbanization, increase in per capita income, and expansion of construction and logistics industries. These factor are anticipated to drive the commercial vehicle market across the globe.
Based on components, the automotive pneumatic disc brakes market can be segmented into actuators, brake calipers, and others. Actuators and calipers are highly important components of the pneumatics disc brake system as they are vital components of the pneumatic disc brake system.
Based on sales channel, the automotive pneumatic disc brakes market can be classified into OEMs and aftermarket. The OEMs segment is likely to dominate the automotive pneumatic disc brakes market during the forecast period owing to the benefits of pneumatic brake such as highly reliable system, low maintenance, greater lifespan, and continuous investment in research and development activities for better braking effect.
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Based on region, the automotive pneumatic disc brakes market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America holds a major share of the global automotive pneumatic disc brakes market. Asia Pacific follows North America in terms of share of the global automotive pneumatic disk brakes market. Higher number of commercial vehicles and high rate of adoption of latest technology are likely to propel the automotive pneumatic disc brakes market during forecast period.
Key players operating in the global automotive pneumatic disc brakes market include WABCO, AISIN SEIKI Co., Ltd., and Continental AG.
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