The global two-wheeler braking component market is anticipated to rise in the coming years owing to the increasing production of two-wheelers globally. The two-wheeler braking components contain disc brakes and drum brakes. The disc braking segment is expected to outperform the drum brake market segment from 2020-25. The emergence of the Anti-lock braking system and the Combined braking system are gaining traction in the two-wheeler market. These brakes prevent contingencies and help to slow down the speed or stop the scooter or motorcycle with the better rider control. The anti-lock braking system and Combined braking system help the bike to avoid a skid. In continuation, the demand for two-wheelers brake component is propelling due to the introduction of the government’s stringent rules and regulations to ensure the rider’s safety.
Moreover, there is a growing need for the high engine capacity of two-wheelers. Asia-Pacific is witnessing a high demand for two-wheelers. China and India are the largest producer of two-wheelers as well as the two-wheeler brake component market.
According to MarkNtel Advisors’ research report, “Global Two Wheelers Brake Component Market Analysis, 2019”, the CAGR is expected to grow at a rate of around 8% during 2020-25. India and China are the major leading countries for the production of two-wheeler brake components as these countries dominate the two-wheeler production. Total domestic sales in India during 2019 estimated around 21,181,390 as compared to 20,200,117 in 2018.
As per HeroMoto Corp, the two-wheeler penetration level in Urban India is close to 40-45%. As per the HDFC Bank Investment Advisory group, India overtook China to become the world’s largest two-wheeler market, mainly due to growing disposable income, expanding the middle class and, the introduction of two-wheeler variants catering all income groups. The scooter segment grew by 19.9% YoY and the motorcycle segment grew by 13.7% YoY in 2018. The faster growth in two-wheeler sales is mainly due to rising income levels, growing infrastructure in rural areas and rising traction towards gearless scooters.
Developing Regions to Dominate the Two Wheeler Brake Component Market
Asia-Pacific is the largest region for the two-wheeler brake component market. China and India among others are focusing on the adoption of the two-wheeler vehicles with an Anti-lock braking system and combined braking system. China and India are the largest producer of two-wheeler vehicles as well as two-wheeler brake components. Other Asian companies either manufacture or import two-wheelers from China and India. Europe and North America have very little production of two-wheelers but are projected to show steady growth during 2020-25. In the Africa region, the demand for braking systems has seen a growth in the past and is expected to observe a surge in the years to come. Africa is also an importer of two-wheeler vehicles from Bajaj Auto Ltd from India.
Replacement Demand to Boost the Two Wheeler Brake Market
Owing to the rising penetration of the two-wheelers in the Asia markets the demand for the braking components also increases. This generates the need for the replacement demand for the old and tired out braking components deployed in the two-wheelers such as scooter/moped and motorcycle. The need for replacing the old components from two-wheelers generates a fresh demand for two-wheeler braking components.
According to MarkNtel Advisors’ research report, “Global Two Wheeler Brake Component Market Analysis, 2020”, some of the major leading players of the Global Two Wheeler market are Bosch Limited, Nissin Kogyo Co., Ltd, AC Delco, Brake Parts Ltd., Endurance Technologies Limited, Akebono Brake Industry Co., Ltd, Brakes India Limited, Continental AG, Sundaram Brake Lining Ltd., and Rane Holdings Limited among others. Bajaj Auto is the leading producer and exporter of two-wheelers in India among other leading players.
“Global Two Wheeler Brake Component Market Analysis, 2020”, provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting revenue and units sold, hotspots and opportunities available for automotive seats across the globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
1. By Vehicle (Moped/Scooter and Motorcycle)
2. By Sales Channel (OEM and Replacement)
3. By Product Type (Brake Caliper, Brake Pad, Brake Shoe)
4. By Region (North America, South America, Europe, Middle East, Africa and Asia-Pacific)
5. By Country (United States, Canada, Mexico, Colombia, Brazil, Argentina, Germany, Italy, France, Spain, United Kingdom, UAE, Saudi Arabia, Iran, South Africa, Morocco, China, India, Japan, Thailand, Vietnam, Indonesia and Philippines)
6. By Company (Bosch Limited, Nissin Kogyo Co., Ltd, AC Delco, Brake Parts Ltd., Endurance Technologies Limited, Akebono Brake Industry Co., Ltd, Brakes India Limited, Continental AG, Sundaram Brake Lining Ltd. and Rane Holdings Limited)
Key questions answered in the study:
1. What are the current and future trends of the Global Two Wheeler Brake Component market?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. What are the future plans and customer expectations of end-users across the globe?
4. How the competition has been shaping across the countries followed by their comparative factorial indexing?
5. What are the key growth drivers and challenges for the Global Two Wheeler Brake Component industry?
6. What are the customer orientation, purchase behavior, and expectations from the Global Two Wheeler Brake Component suppliers across various regions?