Global Automotive Braking Component Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027
“Global Automotive Braking Component Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2027” is a recent report generated by MarketResearch.biz. The global automotive braking component market report has been segmented on the basis of brake caliper, brake shoe, brake line, brake pad, brake rotor material, sales channel, vehicle type, and region.
Automotive Braking Component Market: Overview
Automotive braking components are integral parts used in braking system of vehicles. These components are brake shoes, brake disc, calipers, disc rotors, etc.
Automotive Braking Component Market: Dynamics
Increasing reliability of brake component with new labelling initiatives to minimize the threats from counterfeit products is expected to boost demand for braking components and drive growth for the global automotive brake components market over the forecast period. Urbanization, increasing purchasing power, and rising standard of living in emerging countries are contributing to growth of the automotive industry which subsequently propel growth of the global market over the long run. In addition, factors such as, increasing research and development activities, and rising concerns about vehicle safety triggered by the government regulations are also anticipated to bolster growth of the target market.
Increasing government initiatives and stringent rules and regulations regarding vehicle safety standards promotes importance of brake system in automobiles, which is expected to create lucrative opportunity for growth of the target market over the forecast period.
Moreover, introduction of new braking technology such as Antilock Braking System (ABS), Electronic Stability Control (ESC), Traction Control System (TCS), and Electronic Brake-Force Distribution (EBD), etc. driving market towards growth. New automatic braking technologies combines sensors and brake controls to help prevent high-speed collisions.
Automotive Braking Component Market: Segment Analysis
On the basis of brake caliper, floating calipers segment is expected to hold significant share in the market over the forecast period. Floating caliper is a leading caliper type segment of the automotive braking component market owing to lighter and more cost-effective nature as compared to fixed caliper.
On the basis of break shoe, the market is segmented into leading and semi-trailing. The leading brake shoe segment accounts for a major share to the global automotive braking component market.
On the basis of break line, the target market is classified into rubber and stainless steel. The growing vehicle production and the rising demand for improved vehicle aspects are expected to drive the target segment in the global market.
On the basis of vehicle type of the market segmented into passenger vehicles and commercial vehicles. The passenger vehicle segment is projected to grow at a faster pace owing to increasing demand for automobiles equipped with advanced safety features in the developing countries.
On the basis of sales channel, the target market is segmented into OEM and aftermarket. OEM segment is expected to lead the global market over the long run.
Automotive Braking Component Market: Region Analysis
North America accounts for significant share in the global market in terms of revenue and is expected to maintain its dominance over the forecast period. Heavy investment for research and development activities and existence of major manufacturers in countries in the region plays an important role in growth of the market. The Europe market accounts for moderate revenue share in the global market and is expected to witness considerable growth over the next 10 years. Moreover, the market in Middle East & Africa are also expected to register moderate growth rate over the forecast period.
Global Automotive Braking Component Market Segmentation:
Segmentation by Brake Caliper
- Floating Calipers
- Fixed Calipers
Segmentation by Brake Shoe
Segmentation by Brake Line
- Stainless Steel
Segmentation by Brake Pad
Segmentation by Brake Rotor Material
- Cast Iron
- Carbon Ceramic
Segmentation by Sales Channel
- Original Equipment Manufacturer (OEM)
Segmentation by Vehicle Type
- Passenger Vehicles
- Light Commercial Vehicles
Segmentation by Region
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Estimated Year 2020 Actual Year 2021 Forecast Period 2021–2030 Revenue in US$
- ZF Friedrichshafen AG
- Brembo S.p.A
- Continental AG
- Robert Bosch GmbH
- AISIN SEIKI
- Borg Warner
- Hyundai Mobis
- Hitachi Ltd.
- Fujitsu Ten Ltd.
- Sumitomo Riko Company Ltd.
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