San Francisco, California, July 31, 2017: Car manufacturers across the globe are focusing towards excellent consumer experience via improved safety and facilities. As a result, they are increasingly developing and deploying highly efficient automotive brakes, which is positively impacting the growth of the global automotive brakes market. A report by TMR Research, titled “Automotive Brakes Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017–2025,” presents a detailed analysis of the market. Data has been derived from various paid and unpaid sources such as journals, white papers, presentations, and press releases to collate this study, which provides a 360-degree view of the global automotive brakes market.
The increasing number and length of trips for both intercity and intra-city applications are leading to reduced vehicle maintenance lifecycle. The continual decline in automobile maintenance lifecycle coupled with the rising concerns regarding vehicle and passenger safety is providing a significant push to the global automotive brakes market. The influx of commercial vehicles and passenger automobiles is allowing the market to gain impetus. Moreover, stringent government regulations and policies pertaining to vehicle safety and emissions are playing a vital role in the growth of the market.
On the flip side, the upward climb of the market is marred by the protean prices of raw materials required for manufacturing automotive brakes. The high maintenance required for electronically assisted brakes and excessive carbon emissions from heavy braking systems are also hampering the growth of the market. Nevertheless, the increasing adoption of compact, light-weight, and regenerative braking systems is likely to escalate the growth of the market in the near future. Besides this, rapid technological advancements and booming e-commerce sector are expected to shape the future of the global automotive brakes market.
On the basis of geography, the global automotive brakes market can be classified into North America, Asia Pacific, Latin America, Europe, and the Middle East and Africa. North America will continue to account for a substantial share in the global market, thanks to the rising penetration of automobiles. Asia Pacific is anticipated to exhibit strong growth during the review period, owing to the abundant availability of cheap manpower.
Some of the prominent companies operating in the global automotive brakes market are Robert Bosch GmbH, Akebono Brake Industry Co. Ltd., Hyundai Mobis Co. Ltd., Accuride Corporation, Automotive Components Europe S.A., Knorr – Bremse AG, Aisin Seiki Co., Continental AG, Nissin Kogyo Co. Ltd., Zhejiang Asia-Pacific Mechanical & Electronic Co. Ltd., TMD Friction Group S.A, Halla Mando Corporation, and Federal-Mogul Corporation.