DUBLIN--(BUSINESS WIRE)--The "Automotive Disc Brake Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Type, Material Type, and Vehicle Type" report has been added to ResearchAndMarkets.com's offering.
Automotive Disc Brake Market is expected to reach US$ 20,016.4 billion by 2028, registering a CAGR of 3.7% during 2021-2028.
APAC Automotive Disc Brake Market to Grow at Highest CAGR During Forecast Period
In APAC, India, China, South Korea, and Japan are among the world's leading vehicle manufacturers. The robust performance of automotive industry and an increasing number of automotive manufacturers are the major factors propelling the growth of the automotive disc brake market in the region.
The rapid growth of the automotive sector in APAC is attributed to expanding Indian and Chinese economies, as well as the high disposable incomes among the populace in South Korea, Japan, and other countries. To retain a broad customer base and garner more sales, car manufacturers tend to integrate cutting-edge braking solutions in their cars. As a result, the automotive disc brake market in APAC is growing owing to a strong automotive sector and rising safety concerns.
The countries in APAC region are in the process of accepting electric and environmentally friendly vehicles as a prominent means of transportation in the upcoming years. With the increase in the adoption of electric vehicles, the demand for regenerative brakes is expected to grow exponentially, which would play an influential role in boosting the production cycle of automotive disc brakes.
The COVID-19 impact on the automotive sector has led to the shutting down of assembly plants, slowdown in manufacturing processes, and disruptions in the supply chain. This has resulted in a significant drop in vehicle sales in early 2020, fueled by oil price fluctuations and economic slowdown in various regions. Despite the significant impact of COVID-19 on the automotive industry, commencement of production and product launch of new cars in several countries is driving the automotive disc brake market growth.
Key Findings of Study:
With the continuity in the market growth, the rise in the sales of passenger cars is accelerating the development phase of the brakes market in Asia.
At the same time, the regulatory mandates for making vehicles safer is another factor leading to the requirement of advanced braking systems such as anti-lock braking systems and electronic stability control. Poor braking system, along with factors such as carrying more than the permitted load, overspeeding of vehicle, and slippage, can cause accidents.
This factor is creating the need for efficient brakes to ensure the safety of both occupant/s and vehicle. Due to the increase in road accidents in countries such as India and China, the demand for disc brakes is becoming more prevalent.
Key Topics Covered:
2. Key Takeaways
3. Research Methodology
4. Automotive Disc Brake Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. Automotive Disc Brake Market - Key Market Dynamics
5.1 Key Market Drivers
5.1.1 Booming Production of Cars and Commercial Vehicles
5.1.2 Growing norms for reducing fatalities caused due to vehicle accidents
5.2 Key Market Restraint
5.2.1 Use of iron cast material for manufacturing disc brakes
5.3 Key Market Opportunities
5.3.1 Rising adoption of electric vehicles
5.4 Future Trends
5.4.1 Emergence of self-driving/autonomous vehicles
5.5 Impact Analysis of Drivers and Restraints
6. Automotive Disc Brake Market - Global Analysis
6.1 Automotive Disc Brake Market Global Overview
6.2 Automotive Disc Brake Market - Global Revenue and Forecast to 2028 (US$ Million)
6.3 Market Positioning - Five Key Players
7. Automotive Disc Brake Market Analysis - By Type
7.2 Automotive Disc Brake Market Breakdown, By Type (2020 and 2028)
7.3 Opposed Piston Type Disc Brake
7.4 Floating Caliper Type Disc Brake
8. Automotive Disc Brake Market Analysis - By Material Type
8.2 Automotive Disc Brake Market Breakdown, By Material Type (2020 and 2028)
8.3 Cast Iron
8.5 Stainless Steel
9. Automotive Disc Brake Market Analysis - By Vehicle Type
9.2 Automotive Disc Brake Market Breakdown, By Vehicle Type (2020 and 2028)
9.3 Passenger Vehicles
9.4 Light Commercial Vehicles (LCVs)
9.5 Heavy Commercial Vehicles (HCVs)
10. Automotive Disc Brake Market - Geographic Analysis
11. Impact of COVID-19 Pandemic on Global Automotive Disc Brake Market
12. Industry Landscape
12.1 Market Initiative
12.2 Merger and Acquisition
12.3 New Development
13. Company Profiles
- Akebono Brake Industry Co., Ltd
- Nissin Kogyo Co., Ltd.
- EBC Brakes
- Hitachi Astemo Americas, Inc.
- Knorr-Bremse AG
- Haldex Group
- Mando Corporation
- Brembo S.p.A.
- ADVICS Aftermarket North America
- Hyundai Mobis
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