Market Insights
As per recent research by MarkNtel Advisors, The Global Automotive Brake Components Market is projected to grow at a CAGR of around 6% during the forecast period, i.e., 2023-28.
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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.
Market Segmentation and Consumer Behavior:
By Vehicle Type
- Medium and Heavy Commercial Vehicles
- Light Commercial Vehicles
- Passenger Cars
- Others
By Sales Channel
- OEMs
- Aftermarket
By Product Type
- Brake Caliper
- Floating Caliper
- Fixed Caliper
- Brake Pad
- Metal
- Ceramic
- Organic
- Brake Rotor
- Brake Shoe
- Brake Line
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Automotive Brake Components Market Geographical Analysis:
By Region:
- North America
- South America
- Europe
- Middle East
- Africa
- Asia-Pacific
Key Players and Competitive Strategies in the Automotive Brake Components Market
Several prominent players dominate the Automotive Brake Components Market, including:
- 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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Questions Addressed in this Study
1.What factors are driving the Automotive Brake Components Market growth?
2.How is the Automotive Brake Components Market expected to grow over the next five years?
3.What are the key insights into the current trends in the Automotive Brake Components Market?
4.What is the current size of the Automotive Brake Components Market, and how is it projected to change in the future?
5.What is the future outlook for the Automotive Brake Components Market in terms of technological advancements and market expansion?
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