Press release
Automotive Drum Brake Market is expected to reach US$ 9.1 billion by 2031 | AISIN CORPORATION (Hosei Brake Industry Co., Ltd.) [Japan], Akebono Brake Industry Co., Ltd. (Japan), Brembo S.p.A. (Italy)
Automotive Drum Brake Market
Read more about Automotive Drum Brake Market here: https://www.globalinsightservices.com/reports/automotive-drum-brake-market/
The global automotive drum brake market was valued at US$ 5.6 billion in 2021 and it is anticipated to grow up to US$ 9.1 billion by 2031, at a CAGR of 4.9% during the forecast period.
A drum brake is a system consisting of a set of brake shoes that are forced on the outer drum-shaped cover to stop the vehicle. It is a cost-effective type of brake system used in automobiles. A drum brake has two main parts, such as the lining and the shoes.
Market Drivers and Trends:
As the demand for automobiles are surging, the regulatory mandates for making the automobiles safer are also increasing, thereby leading to a surging in demand for drum brakes. Several governments of countries such as India have taken steps in regulating safety-critical components within commercial vehicles and passenger vehicles, which has resulted in a rising demand for automotive drum brakes. For instance, as per Ministry of Road Transport and Highways (Government of India) website, the Government of India is deeply concerned about the growth in the number of road accidents, injuries and fatalities in 2020, 2021, and 2022.
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Global Automotive Drum Brake Market Segmentation:
By Product Type
Leading Trailing Shoe Brake
Two Leading Shoe Brake
Servo Brake
By Braking Type
Normal Braking
Automatic Self-adjustment
Emergency Braking
Key Players:
AISIN CORPORATION (Hosei Brake Industry Co., Ltd.) [Japan]
Akebono Brake Industry Co., Ltd. (Japan)
Brembo S.p.A. (Italy)
Continental AG (Germany)
Haldex Group (Sweden)
HELLA GmbH & Co. KGaA (Germany)
Hyundai Mobis (South Korea)
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