October 15, 2019
According to the latest study titled ‘Global Automotive Disc Brake Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024’ available with Market Study Report LLC, the automotive disc brake market is estimated to accumulate US $14900 million by the year 2024.
Disk brake is the automobile brake utilizing calipers to press pairs of pads against a disc to build friction. This friction reduces the rotation of a shaft or vehicle axle to lessen the rotational speed or to keep it stationary. These brakes are generally made of steel, aluminum, or cast iron, and they are used in motor vehicles. Increasing need for maintaining road safety, strict traffic regulations, and development of advanced vehicles are boosting the growth of automotive disc brake market.
According to the study, the automotive disc brake market was valued at US $12600 million in 2019 and is expected to register a growth rate of 2.9% over the predicted time period. The study details the production and consumption graphs, alongside the revenue contribution and growth patterns for each segment. Furthermore, it provides an exhaustive understanding of trends, challenges, marketing strategies, distribution channels, consumer spectrum, and drivers influencing the market growth.
Based on type, the market is segmented as floating caliper type and opposed piston type. While based on application spectrum, the automotive disc brake market is categorized as SUV, sedan and others.
Considering the geographical landscape, automotive disc brake market is fragmented into five major regions; Middle East & Africa comprise of UAE, Saudi Arabia, South Africa, Egypt, and Nigeria; North America consist of the United States, Mexico, and Canada; Germany, Russia, France, UK, and Italy fall under Europe; Korea, China, Southeast Asia, Japan, and India come under Asia Pacific; and Brazil, Argentina, and Colombia form South America.
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Moreover, the report cites that majority of consumption share of automotive disc brake market is held by North America, Europe, and China. The growth is attributed to the economic development and presence of major automotive manufacturers across these geographies.
Some of the vendors operating in the global automotive disc brake market are Continental, Akebono Brake, ZF TRW, Aisin Seiki, Brembo, Nissin Kogyo, Mando, Knorr-Bremse, Haldex, and Wabco.