Published on : Dec 19, 2017
Albany, New York, December 19, 2017: A new research report highlighting the future growth prospects of the automotive brake components market has been added to the vast database of Market Research Hub (MRH). The report offers detailed analysis, insights, and forecast on the global automotive brake components market during the forecast period 2017-2027. The report titled “Automotive Brake System & Components Market: Global Industry Analysis and Opportunity Assessment, 2017-2027” is a valuable source of information for stakeholders in the market.
According to the report, the US$ 61 Bn automotive brake component market is likely to grow at 4.1% CAGR during the forecast period 2017-2022, and surpass a valuation of US$ 92 Bn by 2027. The market will be continue to be influenced by broader trends in the automotive landscape. Steady automotive sales in the US, Europe, and Asian markets are likely to provide growth opportunities to brake component manufacturers and suppliers. The gradual shift towards electric and automated vehicles is also likely to spur innovation and adjustment in the automotive brake component landscape.
To offer readers detailed and comprehensive insights, the report has segmented the market on the basis of sales channel, vehicle type, and region. On the basis of sales channel, the key segments include OEM and aftermarket. The report analyzes the sales of drum brakes, disc brakes, brake booster, master cylinder, brake shoe, wheel cylinder, rotor, caliper, and brake pad through these sales channels. According to the report, OEM and aftermarket channels have approximately equal revenue share of the market currently; however, by the end of the forecast period, aftermarket segment is likely to reach a revenue share of nearly 54%.
The key vehicle types analyzed in the report include passenger vehicle, light commercial vehicle, and heavy commercial vehicle. Among these, demand for brake components is highest from the passenger vehicle segment, and the revenue share of this segment is likely to reach nearly 74% by the end of forecast period. Disc brake is quickly gaining traction as the standard brake system, even in entry-level vehicles, which is likely to create a shift in the supply chain.
North America and Asia Pacific excluding Japan (APEJ) are among the lucrative markets for automotive brake components globally. Strong automotive sales in the US in 2017 and 2016 have provided a momentum to the market, whereas growing middle class population in APEJ is likely to create further opportunities during the forecast period.
Some of the leading players in the global automotive brake component market include ZF Friedrichshaf en AG, Continental AG, Federal Mogul Holdings Corporation, Delphi Automotive PLC, Valeo S.A, Robert Bosch GmbH, Mando Corporation, and Akebono Brake Industry Co Ltd.
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