Press release
Gradual Shift Toward Hybrid and Electric Vehicles is Expected to Increase Growth of Automotive Brake Boosters - Fact.MR Study
Latest industry analysis by Fact MR, predicts sales of Automotive Brake Boosters to swell at propelled CAGR through 2031, as automotive sales gradually recover across the world. The report is intended at presenting insights into hidden growth opportunities and challenges. It also offers recommendations to help businesses to prep for unforeseen challenges.The market intelligence study therefore includes demographics analysis so market players can plan their product and marketing strategy. It offers sales outlook in 20+ countries. It identifies the most lucrative segments to assist companies in creating winning strategies for future.
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The report offers actionable and valuable market insights of Automotive Brake Boosters. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Automotive Brake Boosters Market across various industries and regions.
The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Automotive Brake Boosters market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Automotive Brake Boosters
This newly published and insightful report sheds light on Market Insights of Automotive Brake Boosters, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Automotive Brake Boosters Market.
Through technological intervention, manufacturers of automobile braking systems are enhancing the design and durability of automotive brake components in order to boost the vehicle’s overall performance. While OEMs continue to struggle with high replacement rate of automotive brake components, aftermarket presence of such key automotive hardware continues to surges.
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The Fact.MR report on global automotive brake components market projects that by the end of 2017, more than US$ 62 Bn worth of automotive brake components will be sold in the world. However, automobile manufacturers are expected to adopt new-age sensing technologies that might limit the need for instinctive braking from vehicle drivers, which will impact the sales of automotive brake components in a roundabout way. Towards the end of 2022, the global market for automotive brake components is anticipated to witness a moderate growth at 4.6% CAGR, procuring a little less than US$ 78 Bn in revenues.
Key Insights from the Fact.MR Report
In 2017, more than US$ 51 Bn worth of automotive brake components sold in the world will be disc brake products. The demand for disc brake components over drum brake components is slated to gain traction, owing to low replacement rate and cost-effective maintenance.
Rapid urbanization and soaring production of automobiles in the Asia-Pacific excluding Japan (APEJ) region are likely to factor the growth in production of automobile brake components. Procurement of raw materials such as rubber is relatively more feasible in the APEJ region, against other parts of the world.
Considering the cost of other automobile parts, automotive brake components are expected to remain low-priced, which is why manufacturers are focusing towards setting up their production units in low-wage countries such as China, South Korea and India. The report anticipates that automotive brake component market in the APEJ region will expand at 6% CAGR through 2022.
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In North America, the demand for automotive brake components is connected with the choices of vehicle owners. Performance cars are expected to witness higher demand for hydraulic braking systems, and with it, OEMs in the US and Canada are expected to focus on offering advanced automotive brake components. According to the report, the automotive brake component market in North America will reflect a steady growth throughout the forecast period.
The automotive brake components market in Europe is also expected to remain at the forefront of global expansion. In 2017 and beyond, Europe is expected to remain the dominant region in global automotive brake component market, procuring more than one-fourth share on global revenues.
Close to three-fourth of revenues procured in the global automotive brake components market through 2022 will be accounted by passenger cars. On the other hand, the demand for automotive brake components is expected to be the lowest among heavy commercial vehicles.
The report also projects that over half of the value of global automotive brake component market will be procured from aftermarket sales. OEMs are expected to lose their traction as largest sales channels for automotive brake components as vehicle customization trends are expected to instrument the boost the aftermarket sales.
The report has profiled leading manufacturers of automotive brake components, which are expected to remain active in the expansion of global market. Companies such as Wabco Holdings Inc., Mando Corporation, Knorr Bremse AG, Aisin Seiki Co. Ltd., Akebono Brake Industry Co., Ltd., Daimler AG, Brembo S.P.A., ZF Friedrichshafen AG, Robert Bosch GmbH, DAKO-CZ, Continental AG, and ASK Automotive Pvt. Ltd. are observed to remain key players in the global automotive brake components market through 2022.
Few of the major companies profiled in the report include
Wabco Holdings Inc.
Knorr Bremse AG
Mando Corporation
Aisin Seiki Co. Ltd.
Robert Bosch GmbH.
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Report Benefits & Key Questions Answered
Automotive Brake Boosters Company & brand share analysis: The report offers in-depth Automotive Brake Boosters brand share analysis to estimate percentage of the market covered by Tier 1, Tier 2, and Tier 3 companies
Automotive Brake Boosters Historical volume analysis: The report offers a comparative analysis between historic sales of Automotive Brake Boosters and projected sales performance for 2021-2031
Automotive Brake Boosters Category & segment level analysis: Fact MR presents a comprehensive analysis of factors enabling sales growth across key segments. It underscores chief growth drivers and offers valuable information to identify sales prospects a local and regional levels
Automotive Brake Boosters Consumption by demographics: To offer informed recommendation, the report studies behavior and consumption pattern of consumers. The demographics analysis is intended at helping business better understand consumer preference and design their product and market strategies around it
Post COVID consumer spending on Automotive Brake Boosters: The Fact MR market survey carefully studies consumer spending behavior post COVID-19. It gauges how prevailing trends have influenced their behavior, subsequently impacting their spending power
More Valuable Insights on Automotive Brake Boosters Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Automotive Brake Boosters, Sales and Demand of Automotive Brake Boosters, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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Automotive Steering Shaft Market – https://www.factmr.com/report/automotive-steering-shaft-market
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