Brakes Market - Growth in the Automotive Sector Coupled with Economic Reforms Drive Growth

A brake is a mechanical device, which is used for slowing down or stopping a vehicle by absorbing the energy from the moving system. Most of the brakes used in vehicles utilize friction between two surfaces applied together to convert kinetic energy of the moving vehicle into heat.

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Regenerative braking helps in the conversion of the energy generated by the moving object into electrical energy, which can also be stored for later use. There are three major types of brakes such as frictional, pumping and electromagnetic. Frictional brakes are the most common type of brakes, which can be categorized into pad and shoe brakes.

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Increasing production of vehicles and rising demand for passenger cars are major factors driving the growth of brakes market globally. In addition, growth in the automotive sector coupled with economic reforms and increasing private equity investments in automotive brake manufacturing companies across the world is influencing the growth of this market positively.

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Moreover, high penetration of global brake manufacturing companies into the emerging markets of Asia Pacific, Middle East and Africa, and Latin America is also a key factor motivating the growth of brakes market. Increasing stringent norms set up by the government of various countries relating to the safety of vehicles is also driving the growth of brakes market globally.

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