Automotive Brake Components Market Business Strategies and Massive Demand by 2028
Jun 17, 2023
A recent study published by MarkNtel Advisors on the Global Automotive Brake Components Market Share, Size, Analysis, Trends, Growth, Analysis, Report and Forecast 2023-28 brings together an in-depth understanding of all aspects influencing the industry’s expansion both in the present and during the historical period 2018-21 across different geographies.
This analysis comprises unbiased, accurate, & reliable market intelligence, shedding light on key parameters like the market growth drivers, challenges, restraints, and opportunities, among others. The stakeholders can attain data on the key trends, recent developments, investments & strategies, among other elements shaping the market dynamics.
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“Automotive Brake Components Market Analysis, 2023” research report entails a detail-oriented analysis of aspects like the Covid-19 impact, segmentation analysis, country/regional landscape, recent developments, demand & supply chain, and product/service pricing, among others, driving the market expansion across different segments & geographies. This section aims solely to enlighten the stakeholders & the leading players to plan & lay out new strategies for expanding their visibility, product portfolio, & customer base and generating significant revenues in the coming years.
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.
Growth Restraint: Significant Costs associated with the Maintenance of Advanced Braking Systems
Repair & maintenance of an automotive braking system is expensive in general, which involves the replacement of brake fluid, brake shoes, brake pads, and resurfacing rotors, along with cleaning, adjusting, & lubricating other components. In another instance, the replacement of ABS, which involves sensors on each wheel, is highly expensive. Moreover, critical mechanisms, such as rotors, master cylinders, drums, calipers, & pads, among others, also incur high replacement costs. Hence, these aspects are projected to hamper the global automotive brake components market in the coming years, especially in cost-sensitive countries, where the penetration of advanced braking systems is restricted mainly to high-end cars.
Read Full Report: Automotive Brake Components Market Report
The advent of Covid-19 in 2023 had a consequential effect on most industries worldwide that instigated our analysts to rigorously examine the ground reality of situations in the Automotive Brake Components Market by constantly interacting with the industry experts. The Covid-19 impact analysis section compiles all attributes of relevant events that happened during & after the outbreak, alongside the strategies adopted by the industry players to overcome the damages & sustain amidst the crisis.
The Automotive Brake Components Market bifurcates into the following -By Category
By Vehicle Type
-Medium and Heavy Commercial Vehicles
-Light Commercial Vehicles
By Sales Channel
By Product Type
On the geographical front, the market expands across:
The study on Automotive Brake Components Market brings together extensive research on the prominent companies participating in the industry by rigorously profiling their operations, product/service portfolio, mergers & acquisitions, expansion plans, recent developments, key strategies, and opportunities to attain higher profit margins. The leading industry players, as profiled in the report, include the following:
-Hitachi automotive Systems Limited.
-Akebono Brake Industry Co., Ltd.
-Wabco holdings Inc.
-Robert Bosch GmbH
-Aisin Seiko Co. Ltd.
-Delphi Automotive Plc
-Federal Mogul Holdings Corporations
Prominent Reasons to Buy the Report
MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.
Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.
Using such information, our clients can identify attractive investment opportunities & strategize their moves to yield higher ROI (Return of Interest) through an early mover advantage with top-management approaches.
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United StatesAutomotive Brake Components Market Request for Free Sample Report: Automotive Brake Components Market Sample ReportAutomotive Brake Components Market Dynamics“”Key Driver: Stringent Government Regulations for Enhanced Safety in VehiclesGrowth Restraint: Significant Costs associated with the Maintenance of Advanced Braking SystemsRead Full Report: Automotive Brake Components Market ReportImpact of Covid-19 on the Automotive Brake Components MarketAutomotive Brake ComponentsAutomotive Brake Components Market Segmentation AnalysisBy Vehicle Type-Medium and Heavy Commercial Vehicles-Light Commercial Vehicles-Passenger Cars-OthersBy Sales Channel-OEMs-AftermarketBy Product Type-Brake Caliper–Floating Caliper–Fixed Caliper-Brake Pad–Metal–Ceramic–Organic-Brake Rotor-Brake Shoe-Brake LineGeographical LandscapeBy Regions-North America-South America-Europe-Middle East-Africa-Asia-PacificCompetitive AnalysisProminent Reasons to Buy the ReportABOUT US:Media RepresentativeMarkNtel AdvisorSend Email