Automotive Disc Brake Industry - Regional Synopsis
North American Market Forecast
The North American automotive disc brake market is predicted to hold majority revenue share by the end of 2037, propelled by rising incidences of vehicle crashes. According to the National Highway Traffic Safety Administration, in 2022, 38,824 people lost their life due to motor vehicle crashes in the United States. Moreover, rising preference to road travelling will boost the market growth. According to a 2,000-person survey, around 67% of men and women desire to go on a road trip after spending a year locked up at home. Furthermore, the number of Americans who have taken a road trip in the past year has increased to nine out of ten, with the majority around 75% taking more than four road trips.
APAC Market Statistics
The Asia Pacific automotive disc brake market is expected to witness lucrative growth till 2037. The market growth in the region is fueled by rising automotive sector in the region and rising sales of vehicle. India overtook Japan in auto sales last year, moving up to third place globally. At least around 5 million new cars were sold in the nation, surpassing Japan's nearly 4 million sales.
