Segments - by Types (1Piston, 2piston, and Multi-Piston), Applications (Sedan and Hatchback, SUV, and Others) and Regions (North America, Latin America, Europe, Asia Pacific and, Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2020 – 2027
Segments - by Types (1Piston, 2piston, and Multi-Piston), Applications (Sedan and Hatchback, SUV, and Others) and Regions (North America, Latin America, Europe, Asia Pacific and, Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2020 – 2027
The global automotive disc brake market size was valued at USD 12,138.2 Million in 2019 and is expected to expand with a CAGR of about 7.5% during the forecast period, 2020-2027. The market is expected to grow owing to an increase in consumer spending on travel and fun activities, a rise in the number of new-age vehicles along with the increasing disposable income of people in developing economies, and a surge in road tourism.
Disc brakes are required to be efficient and cost-effective and should be compatible to various types of vehicles. The main objective of the disc brakes is to provide efficient and safe breaking. A disc brake is another type of automotive brake that consists of a disc rotor that rotates along with the wheel and the stationary brake caliper assemble which is equipped with brake pads.
Disc brakes bid profits such as ideal operation without the need for additional expenditures for adjustment and cleaning, less cooling time, and overall capacity. In comparison to drum brakes, disc brakes provide better-breaking performance, as the disc is cooled instantly.
Consequently, disc brakes are less prone to brake fade caused by overheating of brake components and they recover quickly from immersion. Thus, auto manufacturers are increasingly deploying disc brakes in vehicles owing to enhanced riding experience and surging demand for safety. Disc brakes offer more controlled and shorter braking distance irrespective of the road conditions, thereby ensuring the safety of the occupants.
Automotive Disc Brake Market Dynamics
The market is driven by the factor such as increase in disposable income of consumers, rise in spending on vehicles, the surge in the manufacture of high-speed vehicles due to the increase in the popularity of road trips, and the rising young population who demand technologically updated vehicles.
However, fluctuation in the world economy is hampering the global automobile industry. Labor-related and environmental concerns in the automobile industry are restraining the growth of the global recreational automobile industry. This has hampered the global automotive disc brake market.
Whereas, the rise in demand for SUVs and Sedans are expected to drive market growth during the forecast period. This, in turn, is anticipated to create opportunities for the Global Automotive Disc Brake market. Improvements in the economy are fueling the demand for automobiles, thus creating opportunities for the automotive disc brake market.
Automotive Disc Brake Market Segmental Outlook
Based on types, the market has been segmented into 1 piston caliper, 2 piston caliper, and multi-piston caliper. The 1 piston caliper segment is projected to hold the highest market share and is expected to grow at XX% substantial CAGR during the forecast period. The twin pistons push the brake pads to apply the brake. The brake pads fit on the caliper which holds the brake system parts together. When the driver presses the brake pedal, the oil in the brake master cylinder multiplies the hydraulic force sent to the calipers; causing its piston to contract. Which makes it highly durable, safe, and popular.
In terms of applications, the Global Automotive Disc Brake Market is segmented into Sedan & Hatchback, SUV, and others. The Sedan & Hatchback segment accounts for a major market share in terms of revenue as compared to other sub-segments. As the name suggests SUV is a sports and utility vehicle it deals with the speed on open highways and also the city traffic. The increasing demand for SUV is leading to rising production and ultimately boosting demand for automotive disc brakes.
Based on regions, the global automotive disc brake market has been divided into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Europe is expected to grow with a considerable CAGR of over 7% during the forecast period. The growth in the region can be attributed to the increase in the demand for vehicles from the growing young population in the region. Additionally, the growing popularity of disc brakes due to longer lifespan and easy access to the caliper for cleaning and maintenance is propelling the demand for the new age vehicles. This, in turn, is expected to boost the demand for Automotive Disc Brake.
The Asia Pacific region is dominating the global automotive disc brake market and is expected to continue its dominance during the forecast period. An increase in the demand for technologically advanced vehicles in various countries such as China, Indonesia, India, and, others is estimated to propel the growth of the market in the region. Besides, the strong presence of disc brake manufacturers in the Asia Pacific is another factor responsible for the market condition in the region. The market in North America is expected to flourish with a substantial CAGR owing to the popularity of technologically updated high-end vehicles in young population.
Key Benefits for Industry Participants & Stakeholders
In-depth Analysis of the Global Disc Brake Market
Historical, Current and Projected Market Size in terms of Value and Volume
Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
Industry Drivers, Restraints, and Opportunities Covered in the Study
Recent Industry Trends and Developments
Competitive Landscape & Strategies of Key Players
Neutral Perspective on Global Automotive Disc Brake Market Performance
Key players in the market include ZF TRW, Continental AG, Akebono, Brembo, Aisin, Bosch, Mando, APG, Nissin Kogyo, Knorr-Bremse, and Others. They are considered as key manufacturers of the market based on different varieties of product availability, regional presence, supply chain management system, and the increasing demand for the products.
The players are adopting key strategies such as product development, geographical expansion, mergers and acquisitions, and many other strategies to increase the demand for their respective products.
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The base year considered for the global Automotive Disc Brake Market report is 2019. The complete analysis period is 2017 to 2027, wherein, 2017 & 2018 are the historic years and the forecast is provided from 2020 to 2027.
The market is expected to witness a downtrend during 2019-2020 owing to the negative impact of the COVID-19 pandemic on the Automotive Disc Brake market.
In addition to market size (in USD Million) and Market Volume (Units) Company Market Share (in % for the base year 2019), other data such as Macro-economic factors, COVID-19 Impact on the Disc Brake is available in the final report.
According to this report by Growth Market Reports, the market from Disc Brake is likely to register a CAGR of 7.5% during the forecast period 2020-2027, with an anticipated valuation of USD 21,249.8 million by the end of 2027.
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