Owing to the growing number of demand for passenger cars especially luxury cars and mid-sized cars is anticipated to surge the global automotive sales. However, in the automotive industry is witnessed a temporary slowdown in 2019 on account of geopolitical issues but will undergo revitalization from the declining phase in 2020 and forthcoming years. With the increase in the motorization rate of the emerging countries such as India and China, steady growth is expected in the future in turn, augmenting the sales in the brake components market.
The United States has the highest motorization rate around 82% in 2019. Most of the demand is generated by Asia-Pacific and North America regions. Within some years the government has taken initiatives to grab the attention of the vehicle owners towards driving safely and following the safety measures. Due to the strict government rules and regulations for taking safety measures while driving, the demand for the braking components has increased for the manufacturing of the brakes with smart technology and avoid the vehicle to skid.
According to MarkNtel Advisors’ research report “Global Automotive Brake Component Market Analysis, 2020”, the CAGR of the global automotive braking system is expected to reach approximately 6% during 2020-2025. Total sales for the braking components are increasing in the Asia-Pacific due to the increasing demand for the high-performance vehicles which includes the antilock braking system and combined braking system. Additionally, global light commercial vehicle sales estimated at around 20.63 million.
Moreover, total sales of vehicles in 2018 were approximately 95.05 million including light weighted vehicles and, heavy trucks, buses and coaches which enhances the need for auto braking components
Mergers and Acquisitions for Improving the Braking System Technology
According to MarkNtel Advisors’, Brake components are merging and acquiring other businesses for improving their technology. For Instance: Hitachi Automotive Systems Ltd. plans to acquire KPS Capital Partners created Chassis Brakes Company in 2019. Chassis Brakes invested in the research and development for manufacturing innovative smart braking technology. Continental AG introduced a new braking technology especially for Electric Vehicles to avoid the bad performance of the wheel. The company uses aluminum brake disks for solving the problem of the corrosion of the brake disk while stopping the car in 2017. Continental AG would launch MK-C1 cutting edge braking technology for highly automated driving uses Hydraulic Braking Systems (HBE) at the end of 2020.
Passenger Car Segment to Boost in Future
Due to the growing demand for luxury cars specially Sedans and SUVs and Mid-sized cars rise the number of OEMs and aftermarket sales channels. The demand for the passenger car is estimated to boost the most during 2020-25. The total passenger car sales of the vehicles in 2018 were around 70.56 million. Emerging countries such as China, India, Mexico and, Japan contribute the most to the sales of passenger cars in the forecast period.
According to MarkNtel Advisors’ research report “Global Automotive Brake Components Market Analysis, 2020”, major leading players in the 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 among others.
“Global Auto Components Market Industry Analysis, 2020”, provides comprehensive qualitative and quantitative insights on the industry potential, key factors such as trends, drivers, hotspots and opportunities and challenges available for automotive ventilation seat providers across the globe. Moreover, the report also encompasses the key leading players in the industry, along with competitive benchmarking and competition matrix and company profiling.
1. By Vehicle Type (Passenger cars, Light Commercial Vehicles, and Heavy Commercial Vehicles)
2. By Component Type (Brake Caliper, Brake Shoe, Brake Line, Brake Pad and Brake Rotor)
3. By Sales Channel (OEMs and Aftermarket)
4. By Region (North America, South America, Europe, Middle East, Africa, and Asia-Pacific)
5. By Countries (Canada, United States, Mexico, Colombia, Brazil, Argentina, France, Germany, United Kingdom, Italy, Spain, Saudi Arabia, UAE, Iran, South Africa, Morocco, China, India, Japan, Australia, and South Korea)
6. By Competitors (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)
Key questions answered in the study:
1. What are the current and future trends of the Global Automotive 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 Automotive Brake component industry?
6. What are the customer orientation, purchase behavior, and expectations from the Global Automotive Brake component suppliers across various regions?