Global Automotive Braking Component Market size was valued at US$ 91.19 Bn. in 2021 and the total revenue is expected to grow at a CAGR of 5.65% through 2022 to 2029, reaching nearly US$ 141.71 Bn.
Automotive Braking Component Market Overview: The Automotive Braking Component market research provides a full competition picture, including market share and company profiles of the major players in the worldwide industry. The scope of the research covers a complete examination of the Automotive Braking Component Market, as well as the causes for variances in the industry's growth in different areas.
Market Scope: To locate and collect material appropriate for this study, this research study makes considerable use of secondary sources, directories, and databases such as annual reports, press releases, journals, corporate websites, and databases.
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Segmentation:
The Aftermarket segment is anticipated to develop at the quickest rate in terms of Sales Channel throughout the forecast period. Automotive aftermarket trends are forcing OEMs to adopt thinner, lighter brake parts that require more frequent replacement. The market for automobile brake components will see an increase in demand due to the ready availability of less priced imports that make it more cheap to replace rotors and drums rather than resurface them and increases in raw materials.
Asia Pacific is anticipated to experience the greatest CAGR of 5.66% across all regions over the projection period. More opportunities will arise in this region as a result of the region's developing economies and the rapid growth of manufacturers in countries like China, South Korea, Japan, and India.
by Vehicle Type
• Primary Radar
• Secondary Radar
by Sales Channel
• Civil Airports
• Military Airports
by Product Type
• Electronic Stability Control
• Adaptive Cruise Control
• Anti-lock Braking System
• Differential Slip Control
• Traction Control System Civil Airports
Key Players: The entire approach involves a review of the financial reports of the major market participants. Following the determination of the overall market size, the complete market was divided into many segments and sub-segments and checked with key industry professionals such as CEOs, VPs, directors, and marketing executives. The major players in the Automotive Braking Component market are
• Akebono Brake Industry
• Brake Parts
• Brembo
• CARDONE Industries
• Continental
• Halla Mando Corp
• CWD
• Centric Parts
• Delphi Automotive Plc
• Honeywell International Inc
• Nisshinbo Industries
• AC Delco
• EBC Brakes
• Robert Bosch GmbH
• Federal-Mogul
• Japan Brake Industrial Co. Ltd.
• MAT Holdings
• Power Stop
• TMD Friction Holdings GmbH
• ZF TRW
Regional Analysis: The region portion of the Automotive Braking Component market study also includes individual market affecting elements and changes in legislation in the market that affect present and future market trends. Current and future trends are discussed in order to estimate the entire market potential and to highlight profitable trends in order to obtain a firmer footing. Geographic market assessment is based on the existing scenario and predicted developments.
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COVID-19 Impact Analysis on Automotive Braking Component Market:
Following the outbreak of the pandemic, end-user sectors where Automotive Braking Component are used had a fall in growth from January to May in a variety of countries, including China, Italy, Germany, the United Kingdom, the United States, Spain, France, and India, due to a suspension in operations. This resulted in a major decrease in the revenues of firms operating in these industries and, as a consequence, in demand for Automotive Braking Component manufacturers, influencing the growth of the Automotive Braking Component market in 2020. With lockdowns and a rising number of COVID-19 cases throughout the world, the demand for Automotive Braking Component from end-user businesses has decreased significantly.
Key Questions answered in the Automotive Braking Component Market Report are:
- Which are the major companies in the Automotive Braking Component market?
- Which is the potential market for Automotive Braking Component in terms of the region?
- What are the opportunities for new market entrants?
- What is expected to drive the growth of the market in the next seven years?
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