Press release
Automotive Brake Components Market Is Poised To Expand At A CAGR Of 4.2% By 2031
Worldwide sales of automotive brake components are valued at US$ 49.9 billion at present. The global automotive brake components market is forecast to expand at a CAGR of 4.2% to reach a valuation US$ 75.6 billion by 2032.Download FREE Sample Copy of This Report: https://www.factmr.com/connectus/sample?flag=S&rep_id=24
The syndicated market report on the Automotive Brake Components Market not only described the present situation but also gave a future market outlook for the industry. This industry study is based on distinct segments such as regions, applications, end users, and product types. The study further briefs on the market drivers, present market status, size, and growth rate. Additionally, insights on the manufacturers and competitive strategies applied by these players in the direction to create an advantage over others are useful for business expansion in the industry.
Market research analysis and estimations carried out by Fact.MR in this credible report aid businesses in gaining knowledge about what is already there in the market, what the market looks forward to, the competitive background, and steps to be followed for outdoing the rivals.
Effortlessness maintained in research method and application of best tools and techniques makes the large-scale Automotive Brake Components Market report exceptional. The regional outlook brings value addition to this study as it covers wider geographical marketplaces including North America, South America, and Middle East &Africa. This regional outlook is intended to increase investment in the market as per possibilities in new markets for new products and helps in recognizing potential market share in the forecast period.
Government in numerous countries are implementing stringent standards and regulations for enhancing passenger and vehicle safety to curb the rising incidence of road accidents.
For instance, the National Highway Traffic Safety Administration (NHTSA) and the U.S. Department of Transportation (DOT) have implemented a set of standards mandating the use of automatic emergency braking for providing dynamic braking. A multiplicity of such regulations are estimated to bolster the sales of automotive brake components by 1.2X between 2022 and 2032.
Key Takeaways:
• The U.S. is anticipated to exhibit robust growth in North America, assisting the region to expand at a CAGR of 4.4% during the assessment period.
• Germany is expected to account for a significant share in the Europe market, owing to the accelerating sales of automotive vehicles in the country.
• China is estimated to emerge as a highly remunerative market, assisting the East Asia market to account for around 21.2% overall sales by 2022.
• Based on product type, the disc brake segment is forecast to exhibit growth at 4.5% CAGR, accounting for 56.4% of the total demand through 2032.
• In terms of sales channel, the Original Equipment Manufacturers (OEMs) segment is projected to account for the maximum revenue share in the market, accounting for 53.9% of global sales by 2022.
Growth Drivers:
• Growing concerns regarding driver's safety, rising advancement in braking systems, and increasing non-uniformity in road infrastructure are factors surging the demand for high-performance automotive brake components in the market.
• Rising construction & transportation activities and growing number of small & medium size enterprises across the emerging economies are estimated to augment the sales of light commercial vehicles, thereby, favouring the demand in the segment.
Restraints:
• Excessive heating, vibration during braking, and unusual brake pedal feel, of drum brakes in impeding the sales of automotive brake components across the drum brake segment.
• Extravagant cost of heavy commercial vehicles and high maintenance costs are hindering the sales of these automobiles, which is in turn, restraining the growth in the heavy commercial vehicles segment.
Ask An Analyst: https://www.factmr.com/connectus/sample?flag=AE&rep_id=24
Competitive Landscape:
Leading manufacturers in the global automotive brake components market are focusing on developing and introducing novel high performance brake components to enhance their product portfolio. Some of the players are aiming at entering into collaboration, agreement, & partnership to increase their market share.
• In March 2020, ZF Friedrichshafen AG, a German automotive parts manufacturer announced launching the first front electric park brake. This product launch will assist the company to extend the range of Electric Park Brake (EPB) systems for a wider range of vehicles.
• in 2019, NRS Brakes Company, a Canadian manufacturer of brakes announced introducing new product line of galvanized-based brake pads, providing protection from rust to all brake parts, including the automotive brake calipers and rotors
Key Companies Profiled by Fact.MR
• Wabco Holdings Inc.
• Knorr Bremse AG
• Mando Corporation
• Aisin Seiki Co. Ltd.
• Akebono Brake Industry Company Ltd.
• Brembo S.p.A
• Daimler AG
• ZF Friedrichshafen AG
• DAKO-CZ
• Robert Bosch GmbH
• Continental AG
• ASK Automotive Pvt. Ltd.
More Valuable Insights on Automotive Brake Components Market
Fact.MR in its latest study offers a comprehensive analysis on the global op automotive brake components market. It also provides key information such as latest trends, drivers, and challenges factors that are expected to influence sales of automotive brake components during the forecast period of 2022 to 2032. It also uncovers critical forecast data for the automotive brake components market through detailed
segmentation as follows:
Product Type:
• Disc Brakes
• Drum Brakes
Vehicle:
• Passenger Vehicles
• Light Commercial Vehicles
• Heavy Commercial Vehicles
Sales Channel:
• OEM
• Aftermarket
Region:
• North America
• Latin America
• Europe
• East Asia
• South Asia & Oceania
• MEA
Get Full Access of Complete Report: https://www.factmr.com/checkout/24
Key Questions Covered in the Automotive Brake Components Market Report
• What will be the demand outlook of automotive brake components market in 2022?
• What will be the growth rate of the global automotive brake components market during 2022-2032?
• Which are key drivers bolstering the growth in automotive brake components market?
• Which are the factors hindering the growth in automotive brake components market?
• Which region is expected to exhibit the fastest growth in the global automotive brake components market during 2022-2032?
US Sales Office :
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
E-Mail: sales@factmr.com
We are a trusted research partner of 80% of fortune 1000 companies across the globe. We are consistently growing in the field of market research with more than 1000 reports published every year. The dedicated team of 400-plus analysts and consultants is committed to achieving the utmost level of our client's satisfaction.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Automotive Brake Components Market Is Poised To Expand At A CAGR Of 4.2% By 2031 here
News-ID: 2844081 • Views: …
More Releases from Fact.MR
Liquid Biopsy Market to Hit USD 24.70 Billion by 2033 | Key Players Covered: Bio …
The global liquid biopsy market size is estimated at US$ 4.72 billion in 2023 and is forecasted to expand rapidly at a CAGR of 18% to reach a valuation of US$ 24.70 billion by 2033, according to a newly released market study of liquid biopsy by Fact.MR, a market research and competitive intelligence provider. This growth is driven by the increasing demand for non-invasive cancer diagnostics, advancements in next-generation sequencing…
Artificial Kidney Market is Growing at a CAGR of 13% by 2033 | Key Players: Kawa …
Artificial Kidney Market is valued at USD 1.5 billion in 2023 and is projected to surge ahead at a CAGR of 13% to reach a market size of USD 5.3 billion by the end of 2033. This robust growth is driven by the increasing prevalence of chronic kidney disease (CKD) and end-stage renal disease (ESRD), affecting millions worldwide, and the limitations of current dialysis treatments. Artificial kidneys, including wearable and…
Artificial Intelligence (AI) in Retail Market is Projected to Reach USD 138.3 Bi …
The global artificial intelligence (AI) in retail market is forecast to reach USD 138.3 billion by 2035, up from USD 9.8 billion in 2025. During the forecast period, the industry is projected to register at a CAGR of 30.3%. AI-driven personalization enhances customer engagement through tailored recommendations and experiences. AI-powered demand forecasting optimizes inventory management and reduces operational inefficiencies. This rapid expansion is fueled by the increasing adoption of AI…
Mining Automation Market is Expected to Reach USD 8.4 Billion by 2035 | Fact.MR …
The global mining automation market is forecast to reach USD 8.4 billion by 2035, up from USD 4.5 billion in 2025. During the forecast period, the industry is projected to register at a CAGR of 6.4%. This growth is driven by the increasing demand for minerals, the need for sustainable and low-emission operations, labor shortages, and enhanced safety in hazardous environments. Technological advancements in AI, IoT, robotics, and digital twins…
More Releases for Brake
Brake Repair Service: A Reliable Solution for Mobile Brake Services
When it comes to maintaining the performance and safety of your vehicle, brake systems are among the most critical components. Whether you're a truck driver or a fleet manager, ensuring your brakes are in optimal condition is a priority. Fortunately, finding a reliable Brake Repair Service [https://mobilebrakerepairtn.com/#:~:text=Brake%20Repair%20Service] provider has never been easier, thanks to mobile brake services that bring convenience and professionalism right to your location.
Mobile Brake Services: Convenient, Efficient,…
Brake System Market : Disc Brake, Drum Brake, Hydrostatic Brake 2020-2027
The global brake system industry was valued at $41.62 billion in 2019, and is projected to reach $61.20 billion by 2027, registering a CAGR of 7.0%. The report provides a detailed analysis of changing market dynamics, top investment pockets, major winning strategies, key segments, and competitive scenarios.
Growth in production & sales of commercial vehicles and off-highway trucks, rise in stringency of automotive active safety regulations, and initiatives of new car…
Aircraft Brake System : Power Brake, Boosted Brake, and Independent Brake 2021-2 …
The global aircraft brake system market was valued at $10.52 billion in 2020, and is projected to reach $16.95 billion in 2030, registering a CAGR of 5.2%. The report offers an in-depth analysis of the market size, emerging and current trends, future estimations, and key players.
Increase in air passenger traffic in the world and rise in operations in the commercial aviation sector are expected to fuel the global aircraft brake…
Aircraft Brake System Market : Power Brake, Boosted Brake, and Independent Brake …
The global aircraft brake system market generated $10.52 billion in 2020, and is anticipated to reach $16.95 billion in 2030, manifesting a CAGR of 5.2%.
Increase in air passenger traffic in the world and rise in operations in the commercial aviation sector are expected to fuel the global aircraft brake system market. On the other hand, strict regulatory conditions create hindrances to market growth. On the contrary, usage of advanced…
Brake System Market : Disc Brake, Drum Brake, Hydrostatic Brake, Hydraulic Wet B …
The global Brake System Industry estimated $41.62 billion in 2019, and is expected to hit $61.20 billion by 2027, witnessing a CAGR of 7.0% from 2020 to 2027.
Download Report Sample at https://www.alliedmarketresearch.com/request-sample/1024
Covid-19 Scenario-
The covid-19 outbreak has immensely affected the industry, as most of the original equipment manufacturers (OEM) have kept the production of brake systems on hold.
The supply chain management has been disrupted resulting in shortage of raw materials. The…
Brake System Market : Disc Brake, Drum Brake, Hydrostatic Brake, Hydraulic Wet B …
The global brake system industry was valued at $41.62 billion in 2019, and is projected to reach $61.20 billion by 2027, registering a CAGR of 7.0%. The report provides a detailed analysis of changing market dynamics, top investment pockets, major winning strategies, key segments, and competitive scenarios.
Download Report Sample at https://www.alliedmarketresearch.com/request-sample/1024
Growth in production & sales of commercial vehicles and off-highway trucks, rise in stringency of automotive active safety regulations, and…
