Press Release

Rising Safety Concerns Fuels Two Wheeler Brake Components Market Through 2028

The Global Two Wheeler Brake Components Market is projected to grow at a CAGR of 8.0% in the forecast period of 2023-28, cites MarkNtel Advisors in the recent research report. The market growth is attributed to the rising penetration of electronic components in the two-wheeler market, with government regulations mandating advanced emergency brake systems, and surging sales of two-wheelers in emerging countries. Moreover, the lower manufacturing prices of drum type breaks with along with their longer life span and smaller-sized disc brakes with larger braking power are collectively expected to accelerate industrial expansion, further states the research report, “Global Two Wheeler Brake Components Market Analysis, 2023.”

Segmentation

The market is highly fragmented based on Type, Vehicle, Sales Channel, and Product Type. On the basis of Type, the market is segmented into Disc Brakes and Drum Brakes. Additionally, based on Vehicle, the market is divided into Motorcycles and Moped/scooters. Depending on Sales Channel, the market is segmented between OEM and Replacement. Finally, on the basis of Product Type, the market is fragmented into Brale CAliper, Brake Show, and Brake Pad.

Disc Brakes and Drum Brakes compete for the highest market share

Among the two, drum brakes account for the highest market share and are expected to dominate the market, attributed to the cheaper cost of manufacturing and longer life. Additionally, due to their manufacturing, drum brakes require lesser force to apply the brakes and also it is easier to recondition the wheel cylinder than to recondition callipers on a disc brake, collectively adding further value to Drum brakes.  Meanwhile, disc brakes are also expected to grow significantly due to consumer preference as disc brakes are small-sized and offer larger braking power, and can stop high-speed vehicles better than a drum brake.

Higher Adoption of Two Wheelers Fuels Asia-Pacific Market Growth

Asia-Pacific region is expected to continue to dominate the Two Wheeler Brake Components Market during the forecasting years following its trend in the historical period. The market growth in the region is attributed to the rising demand for two-wheelers in countries like China, India, and the Philippines due to significantly smaller commutation routes coupled with the affordability of two-wheeler vehicles among the major middle-class population. Besides, the rising numbers of road accidents have further encouraged the incorporation of safety features and emergency brakes in vehicles, fueling the market.

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including 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 are looking forward to strengthening their market position.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends that have shaped the industry to its current form?
3. What key factors would propel and impede the two Wheeler Brake Component industry across the region?
4. How has the industry been evolving in terms of geography & product adoption?
5. How has the competition shaped across various countries, followed by their comparative factorial indexing?
6. How have buying behavior, customer inclination, and expectations from Two Wheeler Brake Component manufacturers evolved during 2018-28?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?