Latin America Brakes Aftermarket Market Size, Share, Demand, Trends, Growth and Forecast Report to 2021-26

According to the MarkNtel Advisors research report, "Latin America Brakes Aftermarket Market Analysis, 2021," the market is likely to grow at a CAGR of 1.20% in the forecast period of 2021-26. The prime factor supporting the market growth is the rapidly increasing sales of lightweight vehicles owing to the extensive connectivity and enhanced logistics across Latin America.

Lightweight vehicles require lighter brake parts installations & replacements more frequently, thereby surging the demand for brakes aftermarkets across the region. Moreover, the easy availability of affordable imported brakes at aftermarkets shall incline customers toward replacement rather than resurfacing them and, in turn, fuel the overall market growth in the forecast period.

Get the report sample: https://www.marknteladvisors.com/query/request-sample/latin-america-brakes-aftermarket.html

Key Questions Answered in the Study
1. What are the current and future trends in the Latin America Brakes Aftermarket Market?
2. How has the industry been evolving in terms of geography and services adoption?
3. How has the competition been shaping across various countries, followed by their comparative factorial indexing?
4. What are the key growth drivers & challenges for the Latin America Brakes Aftermarket Market?
5. What are the customer orientation, purchase behavior, and expectations from the Latin America Brakes Aftermarket Market service providers?

Severe Impact of Covid-19 on Latin America Brakes Aftermarket Market

The Covid-19 pandemic adversely affected almost all industries, and the automotive sector observed the worst effects, which directly impacted the Latin America Brakes Aftermarket Market. The imposition of lockdown and movement restriction led to significant disruptions in manufacturing & shipping procedures of various vehicle components, including breaks.

For detailed analysis: https://www.marknteladvisors.com/research-library/latin-america-brakes-aftermarket.html

Besides, the market also observed logistic issues, which further introduced abrupt changes in consumer purchase behavior. However, with the gradual upliftment of restrictions, the aftermarkets shall regain their usual pace & liquidity in operations and recover from losses in the forecast period.

Passenger Vehicles to Dominate the Latin America Brakes Aftermarket Market with the Largest Share

Based on the Type of Vehicle, the Latin America Brakes Aftermarket Market segments into Passenger Vehicles & Commercial Vehicles. Of both, Passenger Vehicles are likely to dominate the market with the largest share in the forecast period. The dominance attributes to the increasing consumer awareness about the importance of timely maintenance & replacement of brakes to ensure safety, which surges the demand for more brake components purchased through aftermarkets.

Share your requirements: https://www.marknteladvisors.com/query/request-customization/latin-america-brakes-aftermarket.html

Additionally, the various initiatives by the governments toward alternative fuel mobility, coupled with the effects of global warming, shall incline customers toward Electric Vehicles and propel the demand for passenger vehicles, which would also fuel the demand for aftermarket products, and subsequently boost the market during 2021-26.

Key Market Competitors
According to MarkNtel Advisors, the leading players in the Latin America Brakes Aftermarket Market are Akebono Brake Industry, Raybestos, Brembo S.p.A., CARDONE Industries, Continental AG, ZF Friedrichshafen AG, Federal-Mogul Motorparts LLC, MAT Holding, Inc., Power Stop LLC., Others.

Market Segmentation:
1. By Product Type (Brake Pads, Brake Shoes, Brake Rotors, Brake Drums, Brake Calipers)
2. By Vehicle Type (Passenger Vehicle, Commercial Vehicle)
3. By Sales Channel (Original Equipment Services (OES), Independent Aftermarket (IAM))
4. By Countries (Mexico, Brazil, Argentina, Colombia, Others)
5. By Competitors (Akebono Brake Industry, Raybestos, Brembo S.p.A., CARDONE Industries, Continental AG, ZF Friedrichshafen AG, Federal-Mogul Motorparts LLC, MAT Holding, Inc., Power Stop LLC., Others)

MarkNtel Advisors
1147 88AVE, Delta, British Columbia, BC,V4C,3B8, CANADA
Email: sales@marknteladvisors.com
Tel: +1 604 800 2671
Website: https://www.marknteladvisors.com

About us:
MarkNtel Advisors is a leading research, consulting and data analytics firm that provides a wide range of strategic reports on diverse industry verticals to a substantial and varied client base that includes multinational corporations, financial institutions, governments, and individuals.

We specialize in niche industries and emerging geographies to support our clients in the formulation of strategies viz. Go to Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, trend analysis, etc. in around 15 industry verticals to enable our clients in identifying attractive investment opportunities and maximizing ROI through an early mover advantage.

This release was published on openPR.