(MENAFN - America News Hour)Research Nester published a report titled “Automotive Disc Brake Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global automotive disc brake market in terms of market segmentation by vehicle, material, brake type, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
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 market is segmented on the basis of material, into cast iron, aluminum, stainless steel, and others, out of which, the stainless-steel segment is projected to garner the largest revenue in the market during the forecast period owing to the high strength of steel. Moreover, it is more durable, and affordable, as compared to other materials.
The global automotive disc brake market is estimated to grow on the back of increasing demand for safer vehicles to curb the cases of road crashes. The growing concerns for the safety of drivers, especially in two-wheelers, is expected to boost the market growth. Moreover, increasing cases of road accidents, and government regulations to reduce the deaths caused by these accidents is estimated to further boost the market growth. According to the data by the World Health Organization, on an average, road accidents cause a loss of 3% for any country's GDP, which is why governments are paying utmost attention towards the safety standards of the vehicles.
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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 the North America is foreseen to witness the largest share for the market during the forecast period on the back of growing automotive sector, increased production of automobiles, and high incidences of road accidents. According to the report by the Association for Safe International Road Travel (ASIRT) around 38,000 deaths are caused every year by road crashes in the United States.
Rising Cases of Road Accidents and Growing Safety Concerns for Drivers to boost the Market Growth
According to the other report by the WHO, approximately 1.35 million people die each year due to road accidents.
Road accidents are a major cause of fatality globally, which is why governments are concerned for the safety standards of vehicles. Increasing mortality rate of road accidents, and rising cases of vehicle crashes, is the major growth driver for the market. Moreover, disc brakes are efficient in controlling the vehicle, even at a reasonably high speed, which is expected to further boost the market growth.
However, high production cost of disc brakes is expected to operate as key restraint to the growth of the market over the forecast period.
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This report also provides the existing competitive scenario of some of the key players of the global automotive disc brake market which includes company profiling of Accuride Corporation, Aisin Corporation, Haldex Brake Products Corp., Continental AG, Brembo S.p.A., EBC Brakes, Knorr-Bremse AG, Nissin Kogyo Co., Ltd., Robert Bosch GmbH, and ZF Friedrichshafen AG. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global automotive disc brake market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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