LONDON--(BUSINESS WIRE)--The automotive brake linings market size is expected to post a CAGR of over 8% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
The easy availability of low-cost brake linings will be one of the major factors behind the automotive brake linings market growth. Brake linings are an integral component of the automotive disc and drum brake system. These brake linings are easily available and affordable as they are made of asbestos material which is cheaper to manufacture. Being a standard fitment in brake shoes and pads, brake linings are included in the cost of brake shoes and pads, which makes them inexpensive and cost-effective for automakers. Brake products from both domestic and foreign players are readily available through offline as well as the online distribution channel.
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As per Technavio, the emergence of brake-by-wire (BBW) system will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Automotive Brake Linings Market: Emergence of Brake-By-Wire (BBW) System
Automotive braking industry has been witnessing constant innovations and technological advancements, resulting in the formation of modern braking systems that are more effective in application compared with those in the past. Continuous changes in automotive braking have also led to the development of the brake-by-wire (BBW) system. BBW systems replace the mechanical components that are used in conventional braking systems by electro-hydraulic or electronic components such as actuators and sensors. The system gathers data from different sensors that enables quick reaction time and high braking force, leading to short stopping distances. With vendors focusing on improving the reliability and performance, BBW system will gain traction during the forecast period.
“Other factors such as the growing use of ceramic fiber in manufacture of brake linings, and the developments in the manufacture of automotive brake pads will have a significant impact on the growth of the automotive brake linings market value during the forecast period,” says a senior analyst at Technavio.
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Automotive Brake Linings Market: Segmentation Analysis
This market research report segments the automotive brake linings market by application (passenger vehicles and commercial vehicles) and geography (APAC, Europe, MEA, North America, and South America).
The APAC region led the automotive brake linings market in 2018, followed by Europe, North America, South America, and MEA respectively. The growth of the automotive brake linings market share in APAC can be attributed to several factors such as the emergence of new OEMs and the high demand for passenger and commercial vehicles in countries in the region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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