MarkNtel Advisors has recently projected that the Global Automotive Brake Components Market is anticipated to witness a Compound Annual Growth Rate (CAGR) of approximately 6.0% during the period 2023-28. The report from this distinguished market research firm delivers valuable insights into the market positioning of key players. It encompasses critical facets such as product pricing, expenses, earnings, production, capacity utilization, supply and demand dynamics, as well as industry growth rates.
- By Vehicle Type (Medium and Heavy Commercial Vehicles, Light Commercial Vehicles, Passenger Cars, Others)
Among all vehicle types, passenger cars dominate the Global Automotive Brake Components Market as the primary contributors. The global production and sales of passenger cars are experiencing significant growth, driven by increasing population levels, rising disposable incomes, and rapid urbanization. In response to heightened consumer demand for enhanced safety, automakers are actively developing more efficient braking systems with increased power, particularly tailored for diverse terrain types. The current surge in interest for cars equipped with Advanced Driver Assistance Systems (ADAS) is a key factor positively impacting the demand for automotive brake components, driven by the growing need for electromagnetic induction braking systems.
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- By Sales Channel (OEMs, Aftermarket)
Original Equipment Manufacturers (OEMs) command a significant market share, propelled by the continual rise in passenger car sales and the growing consumer insistence on enhanced vehicle control and safety. Furthermore, substantial investments made by automakers in research and development endeavors to create cutting-edge technologies for advanced brake components, along with a heightened emphasis on delivering products that are both efficient and durable, contribute prominently to the strong performance of OEM sales. Additionally, the rapid expansion of manufacturing facilities by industry players and the increasing prevalence of mergers and acquisitions among distributors and small-scale manufacturers are anticipated to further boost the OEM segment in the automotive brake components market in the future.
- By Regions (North America, South America, Europe, Middle East, Africa, Asia-Pacific)
The Asia-Pacific region stands out as a robust market for automotive brake components, primarily driven by the continuous growth in automotive production and sales, as well as the ready availability of cost-effective labor and raw materials. Over recent years, the region has established itself as a key automotive production center, propelled by shifting consumer preferences, a rise in the disposable income of the middle-class population, and cost advantages for Original Equipment Manufacturers (OEMs) that have extensively expanded their manufacturing operations. Additionally, the regional market is influenced by advancements in braking systems and manufacturers’ strategic expansions to meet the changing consumer demands, especially for disc brakes in light commercial vehicles due to the escalating number of accidents.
𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐟𝐨𝐫 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 – https://www.marknteladvisors.com/query/request-customization/global-automotive-brake-components-market.html
Market Players and Competition
This report thoroughly explores the current competitive landscape of the market, offering insightful perspectives into ongoing market dynamics and the competitive atmosphere. It provides a comprehensive understanding of the opportunities available for major market players, 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.
Note: Markntel Advisors stands firm in its commitment to delivering top-notch market research. This report is a clear demonstration of our dedication to furnishing clients with comprehensive and valuable insights. Regarding the unveiling of this report, our analysts underscore, “The Global Automotive Brake Components Market is undergoing swift transformations, and adopting a proactive approach is imperative for businesses and investors alike. Our report conducts a meticulous analysis of market players, opportunities, and insights, arming our clients with the essential knowledge to make informed decisions in this dynamic and evolving landscape.”
About Us:
MarkNtel Advisors is a leading research, consulting and data analytics firm that provides a wide range of strategic reports on diverse industry verticals to a substantial and varied client base that includes multinational corporations, financial institutions, governments, and individuals.
We specialize in niche industries and emerging geographies to support our clients in the formulation of strategies viz. Go to Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, trend analysis, etc. in around 15 industry verticals to enable our clients in identifying attractive investment opportunities and maximizing ROI through an early mover advantage.
We understand the growing need of our clients and thus focus on emerging industries to provide our services which can fulfil their need for assessing the current and future industry potential, identification of white spaces & hotspots and venturing into new geographies or business segments.
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