By Product Type (Brake Pads, Brake Shoes, Brake Rotors, Brake Drums, Brake Calipers), By Vehicle Type (Passenger Vehicle, Commercial Vehicle), By Sales Channel (Original Equipment......Services (OES), Independent Aftermarket (IAM)), By Countries (Mexico, Brazil, Argentina, Colombia, Others), By Competitors (Akebono Brake Industry, Raybestos, Brembo S.p.A., CARDONE Industries, Continental AG, ZF Friedrichshafen AG, Federal-Mogul Motorparts LLC, MAT Holding, Inc., Power Stop LLC., Others) Read more
- Automotive
- Aug 2021
- 189
- PDF, Excel, PPT
Aftermarket is a secondary market of the automotive industry that concerns repairs, replacements, distribution, retailing, installation, and other similar services of all vehicle parts. The Brakes Aftermarkets deals primarily with the brake system of the vehicle.
The Latin America Brakes Aftermarket Market is likely to grow at a CAGR of around 1.20% during the forecast period, i.e., 2021-26, says MarkNtel Advisors. The most prominent factor supporting the market growth is the shift toward producing lightweight & composite vehicles and installing advanced brakes to ensure the utmost safety.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2016-19 |
| Base Year: 2020 | |
| Forecast Period: 2021-26 | |
| CAGR | 1.20% |
| Key Companies Profiled | Akebono Brake Industry, Raybestos, Brembo S.p.A., CARDONE Industries, Continental AG, ZF Friedrichshafen AG, Federal-Mogul Motorparts LLC, MAT Holding, Inc., Power Stop LLC., Others |
| Unit Denominations | USD Million/Billion |
Additionally, the rising penetration for the adoption of electric vehicles shall also support the dynamics of the brakes aftermarkets in the forecast period. The constant technological advancements to avoid skidding or slipping at sudden braking are other crucial aspects expected to propel the market growth during 2021-26.
Covid-19 Outbreak Severely Impacted the Latin America Brakes Aftermarket Market
The Covid-19 pandemic affected almost all industries, where the Automotive sector was no exception & observed the worst effect, and directly impacted the Latin America Brakes Aftermarket Market. Due to the sudden imposition of lockdown & strict movement restrictions, the market underwent significant disruptions in manufacturing & shipping procedures.
In addition, the market also observed issues in transportation & logistics, which produced abrupt changes in consumer purchase behavior. However, with the gradual upliftment of restrictions, the aftermarkets across Latin America are expected to regain their usual pace & liquidity in operations and recover from losses in the coming years.
- Introduction
- Market Segmentation
- Product Definition
- Research Process
- Assumptions
- Executive Summary
- Expert Verbatim- What our Experts Say?
- Impact of COVID-19 on the Latin America Brakes Aftermarket Market
- Latin America Brakes Aftermarket Market Policies, Regulations, Product Standards
- Latin America Brakes Aftermarket Value Chain Analysis
- Latin America Brakes Aftermarket Market Trends & Insights
- Latin America Brakes Aftermarket Market Dynamics
- Growth Drivers
- Challenges
- Impact Analysis
- Latin America Brakes Aftermarket Market Hotspot & Opportunities
- Latin America Brakes Aftermarket Market Key Strategic Imperatives for Success & Growth
- Latin America Brakes Aftermarket Market Analysis, 2016-2026F
- Market Size & Analysis
- By Revenue (USD Million)
- By Unit Sold (Thousand Units)
- Market Share & Analysis
- By Product Type
- Brake Pads
- Brake Shoes
- Brake Rotors
- Brake Drums
- Brake Callipers
- By Vehicle Type
- Passenger Vehicle
- Commercial Vehicle
- By Sales Channel
- Original Equipment Services (OES)
- Independent Aftermarket (IAM)
- By Country
- Mexico
- Brazil
- Argentina
- Colombia
- Others
- By Company
- Competition Characteristics
- Market Share & Analysis
- Competitive Matrix
- By Product Type
- Market Size & Analysis
- Mexico Brakes Aftermarket Market Outlook, 2016-2026F
- Market Size & Analysis
- By Revenue (USD Million)
- By Unit Sold (Thousand Units)
- Market Share & Analysis
- By Product Type
- By Vehicle Type
- By Sales Channel
- Market Size & Analysis
- Brazil Brakes Aftermarket Market Outlook, 2016-2026F
- Market Size & Analysis
- By Revenue (USD Million)
- By Unit Sold (Thousand Units)
- Market Share & Analysis
- By Product Type
- By Vehicle Type
- By Sales Channel
- Market Size & Analysis
- Argentina Brakes Aftermarket Market Outlook, 2016-2026F
- Market Size & Analysis
- By Revenue (USD Million)
- By Unit Sold (Thousand Units)
- Market Share & Analysis
- By Product Type
- By Vehicle Type
- By Sales Channel
- Market Size & Analysis
- Colombia Brakes Aftermarket Market Outlook, 2016-2026F
- Market Size & Analysis
- By Revenue (USD Million)
- By Unit Sold (Thousand Units)
- Market Share & Analysis
- By Product Type
- By Vehicle Type
- By Sales Channel
- Market Size & Analysis
- Competition Outlook
- Competition Matrix
- Product Portfolio
- Target Markets
- Target End Users
- Manufacturing Units
- Research & Development
- Strategic Alliances
- Strategic Initiatives
- Company Profiles (Business Description, Product Offering, Strategic Alliances or Partnerships, etc.)
- Akebono Brake Industry
- Raybestos
- Brembo S.p.A.
- CARDONE Industries
- Continental AG
- ZF Friedrichshafen AG
- Federal-Mogul Motorparts LLC
- MAT Holding, Inc.
- Power Stop LLC.
- Others
- Competition Matrix
- Disclaimer
MarkNtel Advisors follows a robust and iterative research methodology designed to ensure maximum accuracy and minimize deviation in market estimates and forecasts. Our approach combines both bottom-up and top-down techniques to effectively segment and quantify various aspects of the market. A consistent feature across all our research reports is data triangulation, which examines the market from three distinct perspectives to validate findings. Key components of our research process include:
1. Scope & Research Design At the outset, MarkNtel Advisors define the research objectives and formulate pertinent questions. This phase involves determining the type of research—qualitative or quantitative—and designing a methodology that outlines data collection methods, target demographics, and analytical tools. They also establish timelines and budgets to ensure the research aligns with client goals.
2. Sample Selection and Data Collection In this stage, the firm identifies the target audience and determines the appropriate sample size to ensure representativeness. They employ various sampling methods, such as random or stratified sampling, based on the research objectives. Data collection is carried out using tools like surveys, interviews, and observations, ensuring the gathered data is reliable and relevant.
3. Data Analysis and Validation Once data is collected, MarkNtel Advisors undertake a rigorous analysis process. This includes cleaning the data to remove inconsistencies, employing statistical software for quantitative analysis, and thematic analysis for qualitative data. Validation steps are taken to ensure the accuracy and reliability of the findings, minimizing biases and errors.
4. Data Forecast and FinalizationThe final phase involves forecasting future market trends based on the analyzed data. MarkNtel Advisors utilize predictive modeling and time series analysis to anticipate market behaviors. The insights are then compiled into comprehensive reports, featuring visual aids like charts and graphs, and include strategic recommendations to inform client decision-making
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