Automotive Braking System Market Overview:
The Automotive Braking System market study gives a complete picture of the competition, including the market share and company profiles of the key competitors in the global industry. The scope of the research includes a thorough investigation of the Automotive Braking System Market, as well as the reasons for variations in the industry's growth in various locations.
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Indian Automotive Braking System Market reached US $32.14Bn in 2020 and is expected to reach US $39.63 Bn by 2026 at a CAGR of 3.18%. Automotive braking system in a vehicle can be regarded as energy conversion device, which transfers the kinetic energy of a vehicle into heat to stop the vehicle.
Post completion of market engineering, which included calculations for market statistics, market size estimations, market forecasts, market breakdown, and data triangulation, thorough primary research was done to acquire information and verify and validate important numbers. To perform market estimating and forecasting for the overall market segments and sub-segments described in this research, both top-down and bottom-up methodologies, as well as multiple data triangulation methods, were widely employed throughout the whole market engineering process. Extensive qualitative and quantitative analysis is also performed on all of the figures obtained during the whole market engineering process in order to provide essential information throughout the report.
The primary factor driving this market's expansion is the rising demand for safety and security in automobiles. Rising disposable income, strict government regulations, an increase in vehicle electrification, and an increase in deaths from braking system failure are some of the major factors influencing the future development of the Indian automotive braking system market. The main barriers to this market's expansion are its complexity and the high price of new features.
The Indian Automotive Braking System Market is divided into three categories: technology, brake type, and vehicle type. With regard to volume and value, disc brakes are the brake segment that is expanding the fastest globally. This expansion can be attributed to the disc brake's superior performance and efficiency over drum brakes. Disc brakes are known to reduce brake fade, dissipate heat more efficiently than drum brakes, perform better on descending slopes, and, most importantly, have greater stopping power. The commercial vehicle market is still dominated by drum brakes, though. Cost-effective disc brakes are being developed by brake system manufacturers, which will increase their adoption. The internal self-adjustment feature of disc brakes is a benefit that complies with CSA regulations.
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Major players in the market are identified through secondary research and their market revenues are determined through primary and secondary research. Secondary research included the research of the annual and financial reports of the top manufacturers; whereas, primary research included extensive interviews of key opinion leaders and industry experts such as experienced front-line staff, CEOs, and marketing executives. The percentage splits, market shares, growth rate, and breakdowns of the global markets are determined by using secondary sources and verified through the primary sources. The biggest players in the Automotive Braking System market are as follows:
Aisin Automotive Haryana Private Limited
TRW Automotive Holdings Corp
Sarbestos Auto Spares Pvt Ltd
ZF India Pvt Ltd
Endurance Technologies Limited
Rico Auto Industries Ltd.
ASK Automotive Ltd.
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Individual market influencing elements and changes in market laws that influence present and future market trends are also included in the geographical overview of the Automotive Braking System market study. Current and future trends are examined in order to assess the entire market potential and uncover profitable trends in order to get a more stable footing. The geographical market assessment is based on the present environment and expected developments.
COVID-19 Impact Analysis on Automotive Braking System Market:
Due to a break in operations, end-user sectors where Automotive Braking System are used had a decline in growth from January to May in various countries, including China, Italy, Germany, the United Kingdom, the United States, Spain, France, and India. This resulted in a large drop in the revenues of firms operating in these industries and, as a consequence, in demand for Automotive Braking System manufacturers, affecting the development of the Automotive Braking System market in 2020. End-user business demand for Automotive Braking System has dropped considerably as a result of lockdowns and a rise in COVID-19 incidents throughout the world.
Key Questions Answered in the Automotive Braking System Market Report are:
- Which segment had the largest share in the Automotive Braking System market in 2021?
- What is the competitive landscape of the Automotive Braking System market?
- Which are the key drivers aiding the Automotive Braking System market growth?
- Which region has the maximum share in the Automotive Braking System market?
- What will be the CAGR of the Automotive Braking System market during the forecast period (2022-2027)?
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