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IN THE NEWS· March 03, 2020: Accuride Corporation to launches the lightest weight trailer steel wheels for the Europe market.
· June 09, 2021: Continental AG and Censtar announced a strategic collaboration for the automotive market in China.
The global automotive disc brake market is estimated to garner a sizeable revenue by growing at a CAGR of ~8.5% over the forecast period, i.e., 2022–2030. The growth of the market can be attributed to the increasing concerns for safety for drivers, backed by growing cases of road accidents. According to the statistics by the World Health Organization (WHO), approximately 1.35 million people die each year as a result of road accidents. Road traffic crashes cost most countries 3% of their GDP. Moreover, governments across the world are getting more apprehensive regarding the road safety measures, which in turn is estimated to generate opportunities for the market growth.
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The global automotive disc brake market is segmented by material into cast iron, aluminum, stainless steel, and others, out of which, the stainless-steel segment is anticipated to hold the largest revenue share in the market during the forecast period on account of the strength and durability of this metal, as compared to others. The market is further segmented by brake type into fixed, floating, and sliding caliper, out of which, the floating brake segment is anticipated to garner a significant share over the forecast period owing to its low weight, simple functioning process, and lower manufacturing costs.
Regionally, the global automotive disc brake market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America region is estimated to garner largest share over the forecast period on the back of growing automotive sector, along with the high number of road accidents. According to the data by the Association for Safe International Road Travel, (ASIRT) more than 38,000 people are killed in road crashes in the U.S. every year. The U.S. traffic fatality rate is 12.4 deaths per 100,000 individuals.
The market in the Asia Pacific region is estimated to witness highest CAGR over the forecast period owing to the increasing manufacturing of automobiles in countries, such as, Japan and Taiwan.
The global automotive disc brake market is further classified on the basis of region as follows:
Our in-depth analysis of the global automotive disc brake market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Growing demand for safe vehicles and increasing initiatives by government to curb road accidents are the major factors driving the market growth.
The market is anticipated to attain CAGR of ~8.5% over the forecast period, i.e., 2022-2030.
High production costs of disc brakes is a major factor estimated to hamper the market growth.
The market in the North America will provide the highest growth opportunities for the market during the forecast period on the back of increasing automotive sector and high incidences of road accidents.
The major players in the market are Aisin Corporation, Haldex Brake Products Corp., Continental AG, Brembo S.p.A., EBC Brakes, Knorr-Bremse AG, Nissin Kogyo Co., Ltd., Robert Bosch GmbH, ZF Friedrichshafen AG, and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by vehicle, material, brake type, and by region.
The floating brake segment is anticipated to hold the largest market size during the forecast period on the back of its low production cost.
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