Automotive Brake Components Market Share, Size and Future Projections 2023-2028FY

Markntel Advisors’ report, Automotive Brake Components Research Report: Trend, Business Growth, Size, Future Scope, Segmentation, Dynamics, and Forecast to 2028, offers a comprehensive guide for the growing industry. The expert team of analysts dedicated significant effort to gathering and evaluating the latest market data, resulting in a detailed and up-to-date report that offers valuable insights for individuals who rely on data-driven decisions, including business owners and analysts. The research report on the Automotive Brake Components presents well-researched facts and figures pertinent to the industry, whether the goal is to explore new markets, launch a new product, or maintain a competitive advantage.

Automotive Brake Components Market Research Report Market Summary:

The Global Automotive Brake Components Market is expected to grow at a CAGR of around 6% during the forecast period, i.e., 2023-28. Most of the market growth would be propelled by the ever-increased demand for passenger commercial vehicles worldwide owing to improving disposable incomes of people and rising construction activities, respectively. Besides, stringent vehicle safety standards set by governments, the mounting consumer interest in luxury vehicles, and the growing demand for disc brakes in commercial vehicles are other prominent aspects projected to drive the market in the coming years.

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Automotive Brake Components Market Dynamics:

Key Driver-

Stringent Government Regulations for Enhanced Safety in Vehicles - Governments of various countries worldwide are laying out strict regulations for automakers to include enhanced safety features in vehicles, owing to which technologies like ABS (Anti-lock Brake Systems), BA (Brake Assist), EBD (Electronic Brakeforce Distribution), AEB (Advanced Emergency Braking) have gained traction in the past few years, in order to reduce road accidents. ABS provides enhanced vehicle stability directional control and aids in minimizing stopping distance when hard brakes are applied. On the other hand, BA is based on ABS technology is used usually in combination with ABS to reduce the stopping distance by around 45%. Next is EBD, i.e., the extended version of ABS that helps distribute equal force to each wheel and offers benefits like improved traction, better stability, enhanced braking efficiency. Hence, the burgeoning adoption of these technologies by automakers to comply with stringent government regulations is projected to drive the Global Automotive Brake Components Market during 2023-28.

Automotive Brake Components Market Segmentation Analysis:

According to MarkNtel study the market is segmented into the following categories:

By Vehicle Type

Medium and Heavy Commercial Vehicles
Light Commercial Vehicles
Passenger Cars
Others

Among all, passenger cars are the prime shareholders of the Global Automotive Brake Components Market. The production sales of passenger cars are tremendously increasing worldwide owing to growing population levels, improving disposable incomes, and rapid urbanization.

By Sales Channel

OEMs
Aftermarket

Here, OEMs hold a prominent market share owing to the continuously growing sales of passenger cars and the ever-increasing consumer demand for improved vehicle control safety. Moreover, massive investments by automakers in RD activities toward making advanced innovative technologies for advanced brake components, coupled with their mounting focus on offering efficient products with high durability, are other prominent aspects driving OEM sales.

By Product Type

Brake Caliper
- Floating Caliper
- Fixed Caliper
Brake Pad
- Metal
- Ceramic
- Organic
Brake Rotor
Brake Shoe
Brake Line

By Regions

North America
South America
Europe
Middle East
Africa
Asia-Pacific.

Of all regions globally, Asia-Pacific is a strong market for automotive brake components, owing mainly to the ever-growing automotive production sales and the easy availability of low-cost labor raw materials. In the past few years, the region has emerged as an automotive production hub owing to changing consumer preferences, increasing disposable income of the middle-class population, and cost advantages for OEMs, which have already set up their manufacturing units on an extensive scale.

As indicated in the latest market research report published by Markntel Advisors, “Automotive Brake Components Research Report: Forecast (2023-2028)”, this report offers a detailed analysis of the industry, featuring insights into the Automotive Brake Components industry. It encompasses competitor and geographical analyses, as well as recent advancements in the market.

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Top Companies Operating in the Automotive Brake Components Market:

Nisshinbo Holdings.
Hitachi automotive Systems Limited.
Akebono Brake Industry Co., Ltd.
Continental AG
Wabco holdings Inc.
Robert Bosch GmbH
Aisin Seiko Co. Ltd.
Valeo SA
Delphi Automotive Plc
Federal Mogul Holdings Corporations
Others.

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Key Report Highlights:

Market Dimensions Projections
Pricing Evaluation,
Recent Strategic Moves by Companies,
Primary Stakeholders,
Analysis of Import and Export Trends,
Competitive Landscape Assessment,
Emerging Opportunities,
Market Trends and Indicators

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