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Automotive Brake Components Market Analysis and Insights:
The Automotive Brake Components Market size is estimated to grow at a CAGR of around 6% during the forecast period, i.e., 2023-28.
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Automotive Brake Components Market Dynamics
Key Driver: Stringent Government Regulations for Enhanced Safety in Vehicles
Governments of various countries worldwide are laying out strict regulations for automakers to include enhanced safety features in vehicles, owing to which technologies like ABS (Anti-lock Brake Systems), BA (Brake Assist), EBD (Electronic Brakeforce Distribution), & AEB (Advanced Emergency Braking) have gained traction in the past few years, in order to reduce road accidents. ABS provides enhanced vehicle stability & directional control and aids in minimizing stopping distance when hard brakes are applied. On the other hand, BA is based on ABS technology & is used usually in combination with ABS to reduce the stopping distance by around 45%. Next is EBD, i.e., the extended version of ABS that helps distribute equal force to each wheel and offers benefits like improved traction, better stability, & enhanced braking efficiency. Hence, the burgeoning adoption of these technologies by automakers to comply with stringent government regulations is projected to drive the Global Automotive Brake Components Market during 2023-28.
Automotive Brake Components Market Report Segmentation:
The report has segmented the market into the following categories:
By Vehicle Type
-Medium and Heavy Commercial Vehicles
-Light Commercial Vehicles
-Passenger Cars
-Others
By Sales Channel
-OEMs
-Aftermarket
By Product Type
-Brake Caliper
–Floating Caliper
–Fixed Caliper
-Brake Pad
–Metal
–Ceramic
–Organic
-Brake Rotor
-Brake Shoe
-Brake Line
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Market Divided by Region/Country:
By Regions
-North America
-South America
-Europe
-Middle East
-Africa
-Asia-Pacific
Who are the top Companies in the Automotive Brake Components Market?
Philips, ResMed, Medtronic, Becton Dickinson, GEHealthcare, Getinge, Air Liquide, Hamilton Medical, Smith’s Group, Drager, Fisher and Paykel, Others
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