Report : Europe Automotive Brake Shims Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Material Type (Rubber Coated, PSA Material, Thermoset Material, and Others) and Application (Two Wheeler, Passenger Vehicle, and Commercial Vehicle)
Passenger Vehicle segment to dominate the Europe Automotive Brake Shims Market during 2020–2028
According to a new market research study on “Europe Automotive Brake Shims Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Material and Application” the market is expected to reach US$ 183.33 million by 2028 from US$ 138.24 million in 2021. The market is estimated to grow at a CAGR of 4.1% from 2021 to 2028. The report provides trends prevailing in the Europe automotive brake shims market along with the drivers and restraints pertaining to the market growth. Elevating norms for reducing fatalities caused by vehicle accidents, surging production of automotive vehicles, and growing adoption of electric vehicles are the major factor driving the growth of the Europe automotive brake shims market. However, restricted copper in brake pad development hinders the growth of Europe automotive brake shims market.
The Europe automotive brake shims market is segmented on the basis of material, application, and country. Based on material, the market is segmented into rubber coated, PSA material, thermoset material, and others. In 2020, the others segment held a larger share of the market; and it is also expected to register a higher CAGR during the forecast period. Based on application, the Europe automotive brake shims market is segmented into two wheeler, passenger vehicle, and commercial vehicle. In 2020, the passenger vehicle segment held the largest market share; and it is also expected to register the highest CAGR in the market during the forecast period. Based on country, the Europe automotive brake shims market is segmented into Germany, France, Italy, the UK, Russia, and Rest of Europe. In 2020, Germany held the largest market share; and France is expected to grow at the fastest CAGR during the forecast period.
Avery Dennison Corporation, Brembo S.p.A., BOSCH Auto Parts, Trelleborg Group, Meneta, Super Circle, NUCAP, Delphi Technologies Plc., and TEXTAR Brake Technology are among some of the leading companies in the Europe automotive brake shims market. For instance, Bosch is acquiring Unipart Group's Automotive Aftermarket workshop programmes in the UK. This acquisition will increase the network of partner garages.
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