Dublin 2, Ireland, 2018-Jul-12 — The FactMR report on global automotive brake components market projects that by the end of 2017, more than US$ 62 Bn worth of automotive brake components will be sold in the world. However, automobile manufacturers are expected to adopt new-age sensing technologies that might limit the need for instinctive braking from vehicle drivers, which will impact the sales of automotive brake components in a roundabout way. Towards the end of 2022, The Global Market for Automotive Brake Components is anticipated to witness a moderate growth at 4.6% CAGR, procuring a little less than US$ 78 Bn in revenues.
Effective brake systems are of paramount importance for owners as well as manufacturers of automobiles. The demand for improved automotive brake components is deeply influenced by preventive maintenance measures adopted by vehicle owners, and increasing vehicle safety norms imposed by regulatory authorities. This report offers a comprehensive overview on the dynamics of global automotive brake components market, delivering an analytical study on the market’s growth till date and providing a forecast that projects the market’s expansion during the assessment period, 2017-2022.
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The importance of key automotive hardware continues to influence the dynamics of automobile production. Automotive brake components are among such crucial parts that are pivotal in attaining operational efficiency of a vehicle. Non-uniformity in the conditions of roadway infrastructure across developed and developing parts of the world has necessitated the adoption of effective automotive brake components.
With an increasing trend of preventive maintenance among vehicle owners, manufacturers of automotive brake components are shifting their focus towards lowering the replacement rate of such components. While this will lower the growth of brake system aftermarkets, the global market for automotive brake components will continue to expand on the verge of technological intervention that shall instigate innovation in the design & durability of automotive braking components.
Automotive brake components can be defined as independently manufactured vehicle parts that are assembled to form braking systems for automobiles. Brake pads, brake shoes, rotors, drums, calipers, braking fluids, hoses & liners, and other braking hardware are collectively identified as automotive brake components. Rubber and metal are key raw materials used in production of automotive brake components.
The Fact.MR report on global automotive brake components market predicts that the market will be valued at nearly US$ 63 Bn by 2017-end, albeit, it is expected to soar at a moderate CAGR towards the end of 2022. High replacement rate and increasing use of sensor technologies in lowering the need for instinctive braking of vehicle drivers is expected to impede the adoption of automotive brake components in the future. By 2022-end, the global market for automotive brake components is anticipated to procure a value a little less than US$ 78 Bn.
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Automotive brake components are of paramount importance in boosting the safety of passengers in vehicles. With soaring demand for compact cars and SUVs across automotive markets in the world, the adoption of automotive brake components is expected to remain high in passenger cars. By the end of 2022, over US$ 57 Bn worth of automotive brake components will be sold for their use in passenger cars. On the other hand, global sales of automotive brake components accounted by commercial vehicles will witness sluggish growth over the forecast period.
Aftermarket Sales of Automotive Brake Components to Gain Traction
The report also projects that towards the latter half of the forecast period, OEMs will lose traction in terms of sales of automotive brake components. Aftermarkets will be observed as largest sales channel for automotive brake components in the global market. Reflecting a 5.7% CAGR, the aftermarket sales of automotive brake components will procure more than half of the global market value throughout the forecast period.
Key players in the global automotive brake components market are also profiled in the report. Companies such as ASK Automotive Pvt. Ltd., Continental AG, Robert Bosch GmbH, DAKO-CZ, ZF Friedrichshafen AG, Daimler AG, Akebono Brake Industry Co., Ltd., Brembo S.P.A., Aisin Seiki Co., Ltd., Knorr Bremse AG, Mando Corporation and Wabco Holdings Inc. are expected to actively partake in the growth of global automotive brake components market through 2022.
Table of Contents
- Global Automotive Brake Component Market – Executive Summary
- Global Automotive Brake Component Market Overview
2.1.1. Global Automotive Brake Component Market Taxonomy
2.1.2. Global Automotive Brake Component Market Definition
2.2. Global Automotive Brake Component Market Size (US$ Mn) and Forecast, 2012-2022
2.2.1. Global Automotive Brake Component Market Y-o-Y Growth
2.3. Global Automotive Brake Component Market Dynamics
2.4. Supply Chain
2.5. Cost Structure
2.6. Pricing Analysis
2.7. Raw Material Sourcing Strategy and Analysis
2.8. List of Distributors
2.9. Key Participants Market Presence (Intensity Map) By Region
- Global Automotive Brake Component Market Analysis and Forecast By Product Type
3.1. Global Automotive Brake Component Market Size and Forecast By Product Type, 2012-2022
3.1.1. Disc Automotive Brake Component Market Size and Forecast, 2012-2022
188.8.131.52. Revenue (US$ Mn) Comparison, By Region
184.108.40.206. Market Share Comparison, By Region
220.127.116.11. Y-o-Y growth Comparison, By Region
3.1.2. Drum Automotive Brake Component Market Size and Forecast, 2012-2022
18.104.22.168. Revenue (US$ Mn) Comparison, By Region
22.214.171.124. Market Share Comparison, By Region
126.96.36.199. Y-o-Y growth Comparison, By Region
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