Press release
Automotive Disc Brake Market advanced technology, future potential, forecast 2021-2031 | Akebono Brake Industry Co., Ltd., EBC Brakes, Hitachi Astemo, Ltd., Knorr-Bremse AG
Automotive Disc Brake Market
New York, According to a new market research report published by Global Insight Services Automotive Disc Brake Market is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
An automotive disc brake is one of the types of brake that consists of a disc rotor that rotates together with the wheel and a fixed brake caliper that is equipped with brake pads. Disc brakes offer several advantages, including optimal operation without the need for additional expenses for adjustment & cleaning, overall capacity, and less cooling time.
Disc brakes offer better-stopping performance than drum brakes, as the disc is cooled readily. Further, disc brakes provide a more controlled and shorter braking distance irrespective of the road conditions, thereby ensuring the safety of the occupants.
Read more about Automotive Disc Brake Market here : https://www.globalinsightservices.com/reports/automotive-disc-brake-market
Market Drivers and Trends
As the demand for automobiles is surging, the regulatory mandates for making automobiles safer are also increasing, thereby leading to a surge in demand for disc brakes. Several countries, such as India, have regulated safety-critical components within commercial and passenger vehicles, resulting in a rising demand for automotive disc brakes. For instance, as per Ministry of Road Transport and Highways (Government of India) data, The Government of India is deeply concerned about the growth in the number of road accidents, injuries, and fatalities in recent years. It recognizes that road accidents have now become a major public health issue, and the victims are mainly the poor and vulnerable road users. Further, the government is taking steps to ensure that safety features are built-in at the stage of design, manufacture, usage, operation, and maintenance of both motorized and non-motorized vehicles in line with international standards and practices to minimize adverse safety and environmental effects of vehicle operation on road users (including pedestrians and bicyclists) and infrastructure.
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Moreover, the rise in road accidents due to brake failure compels government bodies to introduce new norms, which would help reduce fatalities. As per an article published by The Print, in January 2022, over 29,000 road accidents were reported, and 13,346 people died in these incidents in Maharashtra in 2021. And due to this, the Indian union minister for Road Transport and Highways has approved the Draft GSR Notification to introduce Bharat NCAP (New Car Assessment Program), wherein automobiles in India shall be accorded Star Ratings based upon their performance in Crash Tests.
Therefore, with all these government initiatives regarding road accident safety, the requirement for disc brakes increases due to better-stopping performance.
Market Restraints and Challenges
Compared to drum brakes, disc brakes are quite new and more advanced. They offer quite a high braking power for their size as well. Even small-size disc brakes offer quite a large braking power and can stop high-speed vehicles better than a drum brake can. As the disc brakes are open, they have good heat dissipation, ensuring they never overheat. Again, being open, they retain no unwanted material and thus don't fall to rusting or performance degradation.
Thus, with complex electronic and mechanical systems in disc brakes, the installation and maintenance of disc brakes are higher than the drum brakes. And from an automotive manufacturer's point-of-view also, there sometimes prefer drum brakes over disc brakes due to their cheap cost and easy maintenance, which can be quite a solid choice in the long run. Therefore, disc brake installation and maintenance costs can hinder market growth, especially in developing countries.
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Reasons to buy Automotive Disc Brake Market Report:
• Develop comprehensive understanding of market landscape - industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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About Global Insight Services:
Global Insight Services (GIS) is a leading multi-industry market research firm headquartered in Delaware, US. We are committed to providing our clients with highest quality data, analysis, and tools to meet all their market research needs. With GIS, you can be assured of the quality of the deliverables, robust & transparent research methodology, and superior service.
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