Major players in the market are Hyundai Mobis, Akebono, Nissin Kogyo, Aisin Seiki, and Knorr-Bremse, with market shares of 17.5%, 12%, 9%, 8%, and 5% respectively.
(PRWEB) July 01, 2014
The global disc brake market is estimated to grow at a rate of 8.1%, over the period 2013 to 2018. Increasing national and international regulations towards vehicle safety, regulations for vehicle stopping distance, and changing customer orientation in the direction of personal safety, would upsurge the overall demand of automotive disc brakes.
Disc brake technology has better heat dissipation efficacy, light-weight, more efficiency in all-weather conditions, and lesser stopping distance. Hence, they are considered more reliable than drum brakes. Due to the above mentioned reasons, disc brakes have already started gaining a significant market share. However, penetration of disc brakes in the commercial vehicle segments is limited to the European region only, whereas other regions prefer disc brakes in passenger vehicle segment only.
Due to the increasing population, improved lifestyle, and standard of living, the demand for vehicles has increased significantly in the past few years. Mass production techniques, lower manufacturing costs, and cheap labor available in developing countries, offered greater benefits to the vehicle manufacturers in the region. With the increase in the production of the vehicle and the opportunities which the region presents to the vehicle manufactures, the demand for disc brake in the region is increasing. The market for the Asia-Pacific disc brakes is anticipated to grow at a CAGR of 9.3%.
Browse through the market data tables, figures and detailed ToC on the “Asia-Pacific Disc Brake Market:”
European Disc Brake Market:
The European region is characterized by the technical advancements and the use of new technology. The region is the first one to introduce disc brakes in commercial vehicles. With the introduction of disc brakes in the commercial vehicles, the market for the disc brakes in the region has increased, which provides the vehicle manufacturers to penetrate further in the market. The disc brake market for Europe has been estimated to grow at a CAGR of 5.7%, for the given period.
North American Disc Brake Market:
The increased use of personal transport over public transport has surged the market for passenger cars. The benefits which disc brake offers are significant, and manufacturers have started using the same in passenger cars. The North American region is one such region where personal vehicles have increased over public transport. The region is one of the significant regions for the automotive industry. With more than one motor per person, the region holds a strong command on the automotive industry. Due these reasons, the market for disc brakes in North America is estimated to grow at a CAGR of 8.1%.
About MicroMarket Monitor:
MicroMarket Monitor identifies and attends to various unmet needs of different industrial verticals, which include value chain impact analysis. The company publishes about 12000 Market Research Reports on various Micro Markets across the world. The graphical nature and multidimensional analysis of these reports provide advanced Business Intelligence Tools to the clients in that particular target market.
Mr. Chandrasekhar K.
5601 Bridge Street
Fort Worth, TX 76112
Connect with us on LinkedIn at http://www.linkedin.com/company/micromarketmonitor