Press release
Global Brake Lines Market 2024 Opportunity Assessment, Size, Growth Rate And Forecast To 2033
Brake Lines Market
The Business Research Company offers in-depth market insights through Brake Lines Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The brake lines market size has grown strongly in recent years. It will grow from $29.3 billion in 2023 to $30.83 billion in 2024 at a compound annual growth rate (CAGR) of 5.2%. The growth in the historic period can be attributed to automotive industry growth, stringent safety regulations, consumer demand for vehicle safety, focus on weight reduction in vehicles, expansion of global automotive production, aftermarket brake system upgrades..
The brake lines market size is expected to see steady growth in the next few years. It will grow to $36.27 billion in 2028 at a compound annual growth rate (CAGR) of 4.1%. The growth in the forecast period can be attributed to transition to electric and hybrid vehicles, global emphasis on vehicle safety standards, shift towards autonomous vehicles, increased focus on environmental sustainability, expansion of electric and autonomous vehicle aftermarket.. Major trends in the forecast period include adoption of advanced coating technologies, focus on integration of brake line sensors, shift towards electro-hydraulic brake systems, development of flex brake lines for electric vehicles, increasing emphasis on environmental sustainability, adoption of 3d printing technology for brake line components..
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Market Segmentation:
The brake lines market covered in this report is segmented -
1) By Materials: Steel, Aluminum, Rubber, Other Materials
2) By Vehicle Types: Passenger Cars, Commercial Vehicles
3) By Sales Channels: OEM (Original Equipment Manufacturer), Aftermarket
Major Driver - Rising Automotive Demand Fuels Brake Lines Market Growth
Increasing demand for automobiles is expected to propel the growth of the brake lines market going forward. Automobiles are self-propelled vehicles designed for personal transportation, typically powered by internal combustion engines or electric motors. Brake lines in automobiles are crucial for transmitting hydraulic pressure from the brake pedal to the wheel brakes, enabling precise control of braking force and ensuring safe and effective vehicle stopping. For instance, in August 2023, according to MarkLines Co. Ltd., a Japan-based automotive industry portal, sales of passenger cars in the US increased by 12.7% from 248,704 units in August 2022 to 280,223 units in August 2023. Sales of light trucks increased by 17.2%, from 905,069 units in August 2022 to 1,060,946 units in August 2023. Therefore, the increasing demand for automobiles is driving the growth of the brake lines market.
Competitive Landscape:
Major companies operating in the brake lines market report are Stellantis N.V., General Motors Company, Robert Bosch GmbH, Continental AG, Valeo SA, BorgWarner Inc., Yokohama Rubber Company Limited, Sumitomo Riko Company Limited, Cooper Standard Automotive Inc., Dorman Products Inc., Nichirin Co. Ltd., Hitachi Astemo Ltd., Hutchinson SA, StopTech Performance LLC, Wilwood Engineering Inc., Tectran Mfg. Inc., Markin Tubing LP, AGS Company Automotive Solutions LLC, Magnum Shielding Corporation, MZW Motor, Classic Auto Tubes Limited, Earl's Performance Products (UK) Limited, Rubicon Express Co., Russel Performance, Spiegler Brake Systems USA LLC, Stainless Steel Brakes Corporation, Techna-Fit Corporation
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Top Trend - Increasing Focus On The Development Of Brake Lines With Advanced Aerodynamics To Improve Profitability
Major companies operating in the brake lines market are focused on developing brake lines with advanced aerodynamics to improve their profitability in the market. Incorporating advanced aerodynamics into brake line design enhances efficiency and performance by reducing drag and improving braking responsiveness. For instance, in July 2022, Orbis Brakes Inc., a US-based manufacturer of motor vehicle brakes, launched the Periodic Wave disc brake line, which uses advanced aerodynamics to provide superior surface cooling and reduce brake fade. This is achieved through a patented design that creates periodic waves on the brake rotor's surface, which increases airflow and reduces heat buildup. The brake line has been developed in collaboration with the National Aeronautics and Space Administration (NASA), a US-based independent agency of the federal government. Also, it is expected to provide supercar performance at an affordable price.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Brake Lines Market Characteristics
3. Brake Lines Market Trends And Strategies
4. Brake Lines Market - Macro Economic Scenario
5. Brake Lines Market Size And Growth
…..
27. Brake Lines Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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