The global automotive brake shoes market is anticipated to grow at a CAGR of 6.6% during the forecast period (2022-2028). Consumers’ increasing disposable income levels, as well as government assistance through norms and regulations, are expected to drive demand for automobile brake shoes over the forecast period. Due to the resistance of braking systems to wear and tear, as well as expanding aftermarket sales, the use of automobile brake shoes has been seen to gain traction in emerging countries. Hence, attributed to it automotive brake shoe market is expected to propel the growth across the globe.
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The automotive industry has seen substantial expansion in recent years all across the globe. Increases in a passenger cars, two-wheeler, and light commercial vehicle (LCV) sales are all contributing to the brake shoe market’s rise. Furthermore, ongoing economic growth, urbanization or residential sector development, and a variety of supportive government policies are all contributing to the manufacture and use of automobiles in both emerged and emerging countries across the globe.
From a regional perspective, the brake shoe market is primarily driven by rising vehicle production and sales in emerging economies across the globe. The Asia Pacific brake shoe market is expected to have the largest proportion of the global market. Furthermore, many global automobile businesses outsource parts and components to the Asia Pacific region since it is less expensive than other regions. The presence of firms like ASK Automotive Pvt. Ltd., Robert Bosch GmbH, Brakes India Pvt ltd, and Makino auto industries Pvt. Ltd., in the brake shoe industry, as well as their increased emphasis on both domestic and global vehicle markets, is likely to increase market competition. Additionally, initiatives by the government are boosting market growth. For instance, The Automotive Mission Plan 2016-26 is a joint endeavour of the Indian Government and the Indian Automobile Industry to lay out a path for the industry’s development.
Automobile manufacturers are continually developing new and improved products to make driving more comfortable and safer. Players routinely design anti-lock braking systems, electronic stability control, and anti-collision gadgets in order to create safer and better vehicles. For instance, in 2018, Continental AG has developed a third-generation anti-lock braking system (ABS) that responds to vehicle speeds while also providing safer, more controlled, and optimal braking performance.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Type
- By Vehicle Type
- By Sales Channel
- By Material
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- ASK Automotive Pvt. Ltd., BNA Automotive India Pvt. Ltd., MAT Holding, Inc, Meritor, Inc., Robert Bosch LLC, among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Automotive Brake Shoes Market Report by Segment
By Type
- Leading/Trailing
- Twin Leading
- Duo-Servo Type
By Vehicle Type
- Passenger Vehicles
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- Two-Wheelers
By Sales Channel
- OEM
- Aftermarket
By Material
- Semi-Metallic
- Non-Asbestos Organic (NAO)
- Low-Metallic Ceramic
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