Automotive Disc Brake Market to grow at 6.5% CAGR and Expected to Reach at Market Size Of $15.6 Billion during 2019 to 2023 due to favorable Government Regulations to Drive Automotive Disc Brake Market. Adoption of Disc Brakes In Motorcycles to Propel Market Growth.
Key Players
Some of the prominent market players, as profiled by Market Research Future, include EBC Brakes (U.K.), Federal-Mogul Motorparts LLC (U.S.), Knorr-Bremse AG (India), Mando Automotive India Private Limited (India), TRW Automotive (U.S.), Nissin Kogyo Co. Ltd. (Japan), Haldex AB (Sweden), Akebono Brake Corporation (Japan), and Aisin Seiki Co. Ltd. (Japan), and Brembo S.p.A. (Italy).
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Automotive Disc Brake Market Overview:
A brake system is primarily used to either reduce the speed of a vehicle that is in motion or to bring the vehicle to a halt. However, when a vehicle is in action, it is susceptible to various uncertainties — advanced brake technologies aid in the reduction of such risks, providing a safer driving experience and hence, contribute to notable market growth. A disc brake uses calipers to squeeze pairs of pads against a disc or ‘rotor’ to create friction. Such friction slows down the rotation of the shaft and reduces the rotational speed of the wheel, either slowing it down or bringing it to a stationary position.
According to the latest report published by Market Research Future (MRFR), the automotive disc brake market is projected to garner a market share of $15.6 billion, resulting in a thriving CAGR of 6.5% during the forecast period. Rising adoption of carbon ceramic brake pads and increased adoption of disc brakes in motorcycles are expected to drive profitable growth to the automotive disc brake market. Also, due to a rise in the number of road accidents, the need for advancements in braking systems has intensified, driving significant growth to the market. Other factors responsible for prominent demand for automotive disc brakes in the automobile industry include the minimization of stopping distance, self- adjusting nature of the disc brakes, and favorable government regulations.
Increased use of electronic components is prognosticated to drive significant growth to the global automotive disc brake market. Development of braking technologies like Antilock Braking System (ABS), Traction Control System (TCS), Electronic Stability Control (ESC), and Electronic Brake-Force Distribution (EBD) is anticipated to be responsible for skyrocketed demand for disc brakes in latest automobiles. Further, growing awareness towards driving safety among the end consumers are contributing to substantial growth of the global automotive disc brake market.
Segmental Analysis
Market Research Future has segmented the global automotive disc brake market by type and application. By type, the automotive disc brake market is segmented into fixed caliper, floating caliper, and sliding caliper. By application, the market has been segmented into commercial vehicle and passenger vehicle.
Detailed Regional Analysis
The global automotive disc brake market has been regionally segmented into North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW). The Asia Pacific currently holds the most significant market share for automotive disc brakes and is likely to continue doing so during the forecast timeline. Factors contributing to such market growth include increased production of automobiles, the establishment of new manufacturing units, and the development of inexpensive disc brakes. Further, increased travel speed is also estimated to be responsible for significant market growth.
Europe is predicted to follow the Asia Pacific in terms of market share for automotive disc brakes. The developed automotive sector in the region is anticipated to drive notable profitability for existing market players. Also, the presence of advanced economies, rising per capita income of the end users is prophesied to positively impact the automotive disc brake market growth in the region. North America is expected to remain highly lucrative during the assessment period.
Industry Update
September 2018: Meritor Inc. announced a hydraulic option for all the ELSA disc brakes. Meritor Inc. is a global supplier of mobility, braking, and aftermarket solutions for automobiles. Meritor Inc. further announced its plan to launch the new-single piston disc brake for the U.S. and Europe market.
Table Of Contents:
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Definition
2.2.2 Research Objective
2.2.3 Assumptions
2.2.4 Limitations
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porters Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Threat Of Substitutes
3.1.4 Segment Rivalry
3.1.5 Bargaining Power Of Buyers
3.2 Value Chain/Supply Chain Analysis
4 Automotive Disc Brake Market Dynamics
4.1 Introduction
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
Continued…
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