Non-uniformity in road infrastructure coupled with advancements in braking systems continue to influence the adoption of automotive brake components. In addition, according to World Health Organization (WHO) around 1.3 million fatalities are recorded every year on account of road accidents caused by vehicles. Increasing demand for passive and active safety of automobiles on the back of growing road accidents have initiated demand for efficient automotive brake components such as brake calipers, brake pads, brake shoes and brake liners.
This factor is likely to instrumental in driving the need for efficient automotive brake components, in turn pushing their market’s growth. Fact.MR envisages that the sales of automotive brake components is estimated to cross US$ 65 Bn by end of the year of forecast. The automotive brake components market demand is projected to grow at a CAGR of around 4% in terms of value during the period of forecast, 2018-2028.
Request Free Sample Report Here:
New Labelling Initiative Mitigates Threats Posed by Counterfeit Products
Prevalence of counterfeit products in the automotive sector called for same regulations apropos to labelling standards of replacement automotive brake components as original brake components in a bid to ensure vehicle safety. This triggered the implementation of ECE R90 regulation that is applicable to vehicles sold across European Union along with 30 nations in Asia Pacific and Africa.
Browse Full report with TOC:
Emerging Markets Reveal their Revenue Potential in the Automotive Brake Components Space
Significant opportunities can be grabbed in the emerging economies of Asia Pacific on the back of growing domestic automotive sector coupled with increasing investments in research and development and massive technological shift. Automotive brake components manufacturers are planning to tap new vehicle segments in emerging economies of China and India along with introduction of advanced automotive brake components to gain high margins. Stakeholders are focusing on penetrating these emerging lands to capture major revenue funnels offered by business-environment friendly countries.
For Any Query?? Ask Our Industry Expert:
Demand for automotive brake components for disc brake systems is projected to surge at a significant pace throughout the period of forecast, says the report. While automotive brake components in disc brake systems need lubricants for effective functioning, operational efficiency of these components is higher than their drum brake counterparts that have high replacement rates.
The report on automotive brake components market offers a complete assessment on major companies involved in the manufacturing of automotive brake components. Moreover, various facets such as SWOT analysis, product portfolios, innovations in designs and developments, company mergers and alliances and key financials have been incorporated in the competitive landscape section of the report. Few of the major companies profiled in the report include Wabco Holdings Inc., Knorr Bremse AG, Mando Corporation, Aisin Seiki Co. Ltd., and Robert Bosch GmbH.
Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that’s why we publish multi-industry global, regional, and country-specific research reports.
11140 Rockville Pike
Rockville, MD 20852