Europe automotive disc brake market size is expected to witness considerable growth in coming years owing to healthy economic recovery, presence of large automobile production facilities and huge demand for high performance vehicles. Due to these factors, Europe held the second largest market share in 2015. Germany and France automotive disc brake market share are the highest contributing countries in the region. Growing economic trade activities has led to increased demand for heavy weight commercial vehicles (HCV) in the region.
Asia Pacific held the largest automotive disc brake market share is expected to continue its dominance over the forecast timeframe. Regional growth can be attributed to presence of large automobile manufacturers number in the region and rising demand for passenger and commercial vehicles with enhanced features. China, Japan, and India are the major growth contributing countries in the region. China dominates the regional industry share owing to its dominance in automobile production and large customer base. Along with healthy economic growth, the region offers economical labor force and better working conditions that enables cost saving production for manufacturers. Due to this manufactures are increasingly installing production facilities in the region is expected to positively impact the automotive disc brake market growth.
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North America automotive disc brake market size is projected to surpass Europe over the forecast timeframe owing to high demand growth rates of luxury and high performance vehicles. Moreover, U.S. and Canada are featured with favorable government initiatives developing dedicated corridors to boost trade of automobile parts.
Automobile manufacturers are increasingly deploying automotive disc brake system in vehicles owing to increasing demand for safety along with enhanced riding experience. These components provide shorter and more controlled braking distance irrespective of rough terrain or slippery roads to ensure safety and enhanced riding experience. Ever increasing demand for commercial, passenger vehicles, and motorcycles along with government mandates for improving vehicle safety have significantly influenced automotive disc brake market growth.
Advancements such as good thermal conductivity, low noise, long durability, low wear rate, and steady friction disc braking systems offer a good price/benefit ratio to end users contributing to overall industry development. Moreover, automotive disc brake market is witnessing advent of advenced technological developments such as boosters and electric-mechanical systems. These advancements are expected to present potential growth avenues over the forecast timeline. For instance, Bosch and Continental introduced brake boosters that offer short activation time, around 120 milliseconds. Electric mechanical brake systems are expected to work without vacuum as the conventional energy source. Perfectly tuned software which can work with automobile assembly are required for the efficient working of electric mechanical brake systems.
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Based on applications, automotive disc brake market is segmented into passenger and commercial vehicle. Commercial vehicles can be further segmented as Light Weight Vehicle (LCV) and Heavy Weight Vehicle (HCV). Passenger vehicle segment accounted for the highest industry share is expected to dominated through 2024. LCV segment is anticipated to witness highest growth rate owing to increasing economic trade activities and emphasis on safety measures.
Key market players are focusing on new product development and to maintain their position and sustain in competitive automotive disc brake market. For instance, in September 2016, Knorr-Bremse is announced its plans to invest in R&D activities for the development of next generation brakes for heavy-duty commercial vehicles. In February 2017, Federal-Mogul and NUCAP industries formed strategic alliance to develop solutions in friction category specifically aimed for increasing demands in North America. The joint venture was to develop a product with improved performance and safety.
Key vendors in global automotive disc brake market include EBC Brakes, TRW Automotive, Hyundai Mobis, Nissin Kogyo, Haldex, Federal Mogul, Knorr-Bremse, Halla Mando, Akebono, NUCAP, and Aisin Seiki among others.
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