Pune, India, September, 2018 /press release/- Market Research Future Published a Half-Cooked Research Report on Automotive Disc Brake Market Research Report.
Market Research Future (MRFR)’s latest report predicts a healthy growth of the global automotive disc brake market thriving at a CAGR of 6.5% during the forecast period 2017 to 2023. The market is projected to reach a value of USD 15.6 Bn by the end of 2023. The growth witnessed in the automotive industry is likely to continue in the foreseeable future and reflects positively in the automotive disc brake market growth.
The rising adoption of carbon ceramic brake pads coupled with adoption of disc brakes in motorcycles is poised to drive the expansion of the automotive disc brake market in the forthcoming years. Additionally, the rising count of road accidents has intensified the need for developments in advanced braking solutions. Safety is the key area of focus for the players of the automotive disc brake market. It has opened new avenues of growth opportunities in the market.
Some of the factors responsible for driving the growth of the automotive disc brake market include minimization of the stopping distance, self-adjusting nature, etc. Additionally, relaxed government regulations in favor of disc brake production and adoption are projected to have a positive influence on the expansion of the automotive disc brake market across the review period.
By type, the global automotive disc brake market is segmented into fixed caliper, floating caliper, and, sliding caliper.
By application, the automotive disc brake market has been segmented into commercial vehicle, passenger vehicle, and others.
By region, the global automotive disc brake market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World. Asia Pacific is the largest market for automotive disc brakes. It is likely to retain a substantial share of the market towards the end of the forecast period. The factors responsible for the growth of the market include increased production of automobiles, the establishment of manufacturing units, development of inexpensive disc brakes, increase in traveling speed, poor quality roads, etc.
Europe is the second largest regional market for automotive disc brakes. The highly developed automotive sector in the region is estimated to maximize profit for the market players. Additionally, the presence of advanced economies and increasing per capita income is expected to impact the automotive disc brake market proliferation positively during the forecast period. North America is an vital growth pocket and is prognosticated to remain highly lucrative throughout the assessment period.
Some of the key players profiled in the report include EBC Brakes (U.K.), Federal-Mogul Motorparts LLC. (U.S.), Knorr-Bremse AG (India), Mando Automotive India Private Limited (India), TRW Automotive (U.S.), Nissin Kogyo Co., Ltd (Japan), Haldex AB (Sweden), Akebono Brake Corporation (Japan), and Aisin Seiki Co., Ltd (Japan) and Brembo S.p.A. (Italy)
In September 2018, Meritor, Inc., a global supplier of mobility, braking, and aftermarket solutions for automobiles, announced a hydraulic option for all the ELSA disc brakes.
In September 2018, Meritor, an automobile company, announced its plan of launching new single-piston air disc brake for the U.S. and Europe market.