Passenger Vehicles Segment to Dominate APAC Automotive Disc Brake Market During 2021–2028     

According to a new market research study on “APAC Automotive Disc Brake Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type, Material Type, and Vehicle Type” is expected to reach US$ 10,542.62 million by 2028 from US$ 7,885.84 million in 2021. The market is estimated to grow at a CAGR of 4.2% from 2021 to 2028. The report provides trends prevailing in the APAC automotive disc brake market along with the drivers and restraints pertaining to the market growth.  Burgeoning adoption of electric vehicles and growth of self-driving/autonomous vehicles are the major factor driving the growth of the APAC automotive disc brake market. However, limitations of iron cast material hinders the growth of APAC automotive disc brake market.      

In case of COVID-19, APAC is highly affected specially India. The COVID-19 that emerged in China has affected several neighboring countries such as India, South Korea, and Japan, among others. The government of APAC is taking possible steps to reduce coronavirus effects by announcing lockdown, and thus, impact the revenue generated by the market. China and India are among the leading manufacturing sectors in the region, and the most affected countries in the APAC region. Several markets have witnessed negative growth trends in the in the first half of the year in 2020. India, Japan, and South Korea among others are still combating the virus, which is a critical factor towards the slowdown in the growth of the automotive disc brake market. The lockdown has been having a severe impact on the automotive sector across the region. In Japan, the vehicles sales in August 2020, crossed 326,000 units, declining 16% on YoY basis. Similarly, in South Korea, the new vehicles sales in the country from top five automakers, such as Hyundai, Kia, SsangYong Motor, Renault, and General Motors have declined close to 6% reaching around 112,000 units. Thus, with the declining vehicle sales in APAC regions, the demand for automotive disc brake market has decreased in 2020. However, in 2021, with the uplifting of lockdowns and vaccination process, the manufacturing of passenger cars and commercial cars has started again. Therefore, this will lead the growth of automotive disc brake market in the region.

The APAC automotive disc brake market has been analyzed on the basis of type, material type, vehicle type, and country. Based on type, the market is segmented into opposed piston type disc brake and floating caliper type disc brake. The floating caliper type disc brake segment dominated the APAC automotive disc brake market in 2020 and opposed piston type disc brake segment is expected to be fastest growing during forecast period. On the basis of material type, the market is segmented into cast iron, aluminum, stainless steel, and others. The cast iron segment dominated the APAC automotive disc brake market in 2020 and stainless steel segment is expected to be fastest growing during forecast period. And based on vehicle type, the market is segmented into passenger vehicles, light commercial vehicles (LCVs), and heavy commercial vehicles (HCVs). The passenger vehicles segment dominated the APAC automotive disc brake market in 2020 and light commercial vehicles (LCVs) segment is expected to be fastest growing during forecast period. Further, based on country, the market has been segmented into China, India, Japan, South Korea, and rest of APAC.   

ADVICS Aftermarket North America; Akebono Brake Industry Co., Ltd; Brembo S.p.A.; EBC Brakes; Haldex Group; Hitachi Astemo Americas, Inc.; Hyundai Mobis; Knorr-Bremse AG; Mando Corporation; and Nissin Kogyo Co., Ltd. are among the leading companies in the APAC automotive disc brake market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, Brembo, the market leader and acknowledged brake technology innovator will be supplying the fixed aluminum brake calipers for the all the electric Ford Mustang Mach-E GT and GT Performance Edition.    

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