Dublin, April 26, 2019 (GLOBE NEWSWIRE) -- The "Global Automotive Brake Components Market By Product Type (Brake Caliper, Brake Shoe, Brake Line & Brake Pad), By Vehicle Type (Passenger Car, LCV & M&HCV), By Sales Channel (OEM & Replacement), By Region, Competition, Forecast & Opportunities, 2024" report has been added to ResearchAndMarkets.com's offering.
The global automotive brake components market stood at $79.5 billion in 2018 and is projected to reach $117.4 billion by 2024, growing at a CAGR of over 6% during 2019-2024, on account of the surging demand for automobiles in developing as well as developed economies.
Stringent government regulations and mandates with reference to vehicular safety norms, in addition to government initiatives in economies such as China and India aimed at boosting vehicle production, is driving the global automotive brake components market. The main objective of a brake system is to reduce the speed and stop the vehicle. Automotive braking components, such as brake caliper, brake shoe, brake line and brake pad, are responsible for producing the braking effect in vehicles. Regenerative braking, ABS and other technological advancements have gain popularity over the last decade.
The global automotive brake components market can be categorized based on vehicle type, product type and sales channel. Disc and drum are the two major brakes used in automobiles. In terms of product type, the market for automotive brake components can be segmented into brake caliper, brake shoe, brake line and brake pad. Floating calipers have high rigidness and rigid mounting, enhancing the performance of brakes. The disc brake segment is expected to grow at a significant rate due to high preference and the demand for passenger cars in which it is used. In terms of vehicle type, passenger cars are the preferred choice and the trend is likely to continue during the forecast period, on the back of high demand for SUVs and sedans.
Globally, the automotive brake components market is gaining traction and expanding to various regions including Asia-Pacific, North America, Europe, South America and the Middle East & Africa. Asia-Pacific is anticipated to dominate the global automotive brake components market during the forecast period, owing to rising vehicle production in economies such as India and China.
Major players operating in the global automotive brake components market include ZF Friedrichshafen AG, Continental AG, Federal-Mogul Holdings LLC, Hitachi Automotive Systems, Ltd., Nisshinbo Holdings, Akebono Brake Corporation, Hitachi Automotive Systems, Ltd., etc. Major companies are developing advanced technologies and launching new products in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments. In 2017, Continental AG developed an innovative brake design in which brake discs are mounted on component carrier star.
Years considered for this report:
Historical Years: 2014-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020-2024
Objective of the Study
- To analyze and forecast the global automotive brake components market size.
- To classify and forecast the global automotive brake components market based on vehicle type, sales channel, product type and regional distribution.
- To identify drivers and challenges for the global automotive brake components market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the global automotive brake components market.
- To conduct the pricing analysis for the global automotive brake components market.
- To identify and analyze the profile of leading players operating in the global automotive brake components market.
Key Topics Covered
1. Product Overview
2. Research Methodology
3. Analyst View
4. Voice of Customer
5. Global Automotive Brake Components Market Outlook
5.1. Market Size & Forecast
5.2. Market Share & Forecast
5.3. Market Attractiveness Index
6. Asia-Pacific Automotive Brake Components Market Outlook
6.1. Market Size & Forecast
6.2. Market Share & Forecast
6.3. Market Attractiveness Index
6.4. Asia-Pacific: Country Analysis
7. North America Automotive Brake Components Market Outlook
7.1. Market Size & Forecast
7.2. Market Share & Forecast
7.3. Market Attractiveness Index
7.4. North America: Country Analysis
8. Europe Automotive Brake Components Market Outlook
8.1. Market Size & Forecast
8.2. Market Share & Forecast
8.3. Market Attractiveness Index
8.4. Europe: Country Analysis
9. South America Automotive Brake Components Market Outlook
9.1. Market Size & Forecast
9.2. Market Share & Forecast
9.3. Market Attractiveness Index
9.4. South America: Country Analysis
10. Middle East & Africa Automotive Brake Components Market Outlook
10.1. Market Size & Forecast
10.2. Market Share & Forecast
10.3. Market Attractiveness Index
10.4. MEA: Country Analysis
11. Market Dynamics
11.1. Drivers
11.2. Challenges
12. Market Trends & Developments
13. Competitive Landscape
13.1. Federal-Mogul Holdings LLC
13.2. ZF Friedrichshafen AG
13.3. Hitachi Automotive Systems Ltd.
13.4. Nisshinbo Holdings
13.5. Akebono Brake Corporation
13.6. Continental AG
13.7. Robert Bosch GmbH
13.8. Wabco Holdings Inc.
13.9. Aisin Seiki Co. Ltd.
14. Strategic Recommendations
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