Automotive Disc Brake Market Trends

Growth Drivers

• Growing Sales of Automobiles– Higher demand for vehicles is expected to drive the automotive disc brake market. Global auto sales increased to an expected 66.1 million vehicles in 2022, however, it is lower that from roughly 66.7 million vehicles in 2021. Moreover, the sales of car are expected to reach around 70 million by the end of 2023.

• Rising Cases of Road Fatalities – In contrast to something like a drum brake, disc brakes offer a really strong stopping power that aids in slowing down a speeding car or assisting a car to stop as soon as possible.  Fatal traffic accidents are the leading cause of mortality for children and young adults between the ages of 5 and 29. Also, an estimated 1.3 million people perish in car accidents annually.

• Increasing Adoption of Luxury Automobiles – the combination of disc brakes and hydraulic brakes are highly used in all types of high-end cars.  Sales of luxury vehicles reached a height of over 2,000 units in 2022, and by 2026, it is anticipated that they will be close to 202, 000 units.

• Rising Implementation of Safety Standards – Owing to strict rules and regulations for automotive safety systems, the demand for disc brakes is expected to grow at it is provide better control of the braking system of the automotives. European Commission introduced the new Vehicle General Safety Regulation in to improve vehicle and road safety. The general safety rules include automated braking, lane-keeping systems, speed assistance, and reversing detection with cameras and sensors.  The rules first applied on July, 2022 and are to be followed till July 2024.

• Rising Interest in Road Travelling – In a post-pandemic world, road trips continue to be one of the most well-liked modes of transportation. Almost 206 million Americans are among the tourists who indicated that they would take a road trip. Moreover, around 47 million Americans, or over 20% of them, are likely to drive more than 500 miles from home.

Challenges

• High Cost of disc brakes and its maintenance- Disc brakes are a more expensive alternative, both initially and in terms of maintenance. Disc brake pads can cost up to three times as much to replace as equivalent rim pads. Moreover, disc brakes frequently may require "bleeding" if an air bubble becomes stuck in the system, this is a tedious process especially when fixing a caliper rim brake.
• Lack of skilled workers
• Disc Brakes are heavier than other brakes