Automotive Disc Brake Market: By Product Type (Opposed Piston Type Disc Brake, Floating Caliper Type Disc Brake), By Material Type (Cast Iron, Aluminum, Stainless Steel, Others), By End Use (Passenger Vehicles, Light Commercial Vehicles, Heavy Commercial Vehicles), And Region - Global Analysis of Market Size, Share & Trends For 2021-2022 And Forecasts To 2031
[ 170 + Pages Research Report ] Automotive Disc Brake Market to surpass USD 25.7 billion by 2031 from USD 14.7 billion in 2021 at a CAGR of 5.7% in the coming years, i.e., 2021-31.
Disc brake consists of brake pads, a caliper, and a rotor. The brake pads use the calipers against the rotor at pace of the wheel to stop or slow down the vehicle. These types of brakes are used mostly in cars and motorcycles. Disc brakes take less cooling time, therefore are safer as they are less prone to brake fade in case of overheating and provide better control over the brakes.
Automotive Disc Brake Market is expected to project a notable CAGR of 5.7% in 2031.
The growing demand for safety regulations in automotive and increasing consumer awareness are the major factors driving the Automotive Disc Brake Market growth. Advancements in technology and increasing research and development activities in the automotive industry are further fueling the growth of the Automotive Disc Brake Market.
The Floating Caliper Type Disc Brake segment to grow with the highest CAGR during 2021-31
Based on Product Type, the Automotive Disc Brake market is classified into Opposed Piston Type Disc Brake and Floating Caliper Type Disc Brake. During the forecast period, the Floating Caliper Type Disc Brake segment is projected to grow with the highest CAGR. The growth is attributed to the increasing use of caliper in passenger vehicles due to the low weight and simplistic features which helps in attaining low costs of manufacturing.
The Passenger Vehicles segment to grow with the highest CAGR during 2021-31
The Automotive Disc Brake market is fragmented on the basis of End Use into Passenger Vehicles, Light Commercial Vehicles, and Heavy Commercial Vehicles. During the forecast period, the Passenger Vehicles segment is expected to grow with the highest CAGR. The growth is attributed to the increasing demand for passenger cars owing to the rise in the disposable income of consumers. Rising sales of cars is accelerating the demand for disc brakes, thereby driving the growth of the market.
Increasing Sales of Automotive and Rising Safety Awareness
Increasing demand for passenger vehicles by consumers owing to the increase in disposable income is driving the market growth. The increasing global population has also induced the demand for high-performance vehicles with disc brake systems. Also, increasing traffic and road accidents have increased awareness regarding the safety of passengers. Therefore demand for efficient brakes and strict regulations on vehicle safety by government is further accelerating the growth of the Automotive Disc Brake market.
Technological Advancements and Research & Development Activities
Rapid industrialization across the world has resulted in technological advancements in the automotive industry. Rising demand for modernization and enhanced technologies in the braking system has induced the growth of disc brake market. Also, increasing research and development activities along with increasing sales of motorcycles are driving market growth.
Lack of Skilled Professionals and High Costs
Lack of skilled professionals in the industry is major factor restraining the growth of the Automotive Disc Brake market. Additionally, high costs in the manufacturing of disc brakes is further impeding the market growth.
The Automotive Disc Brake market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. Asia Pacific is anticipated to hold the larger market share during the forecast period. The growth is attributed to the increasing sales of automobiles owing to the rising population and increase in disposable income of the consumers. Rising investments in the industry and technological advancements are driving the growth of Automotive Disc Brake market in the region.
The global outbreak of coronavirus has adversely affected the economic growth of several countries. The strict imposition of lockdowns and travel bans have led to the shutdown of many businesses. There has been a huge imbalance in the supply and demand of goods and services. Covid-19 has hampered the procurement of raw materials and has caused a huge disruption in the supply chain management. Automotive Disc Brake market is negatively affected due to Covid-19. However, with the world recovering from the unprecedented effects of Covid-19, the Automotive Disc Brake Market is expected to grow at a significant rate.
Automotive Disc Brake is further segmented by region into:
Automotive Disc Brake Segments:
|Market size value in 2021||USD 14.7 billion|
|Revenue forecast in 2031||USD 25.7 billion|
|Growth Rate||CAGR of 5.7% from 2021 to 2031|
|Base year for estimation||2021|
|Quantitative units||Revenue in USD million and CAGR from 2021 to 2031|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments covered||Product Type, Material Type, End Use, and Region|
|Regional scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)|
|Key companies profiled||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, and Other Prominent Players.|
Automotive Disc Brake market size was estimated at USD 14.7 billion in 2021 and is expected to reach USD 25.7 billion in 2031.
The popularity of automobile disc brakes has increased due to the latest developments in the automotive industry. Using vehicle disc brakes, brake pads can slow or halt the spinning of the wheels, which ultimately improves safety and efficiency.
The Floating Caliper Type Disc Brake segment accounted for the largest Automotive Disc Brake market share.
Key players in the Automotive Disc Brake market include 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, and Other Prominent Players.
Increasing sales of automotive, rising safety awareness, technological advancements, and increasing research and development activities are the factors driving the Automotive Disc Brake market.
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