Stainless Steel Segment to Dominate Europe Automotive Disc Brake Market During 2021–2028    

According to a new market research study on “Europe 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$ 4,513.69 million by 2028 from US$ 3,598.78 million in 2021. The market is estimated to grow at a CAGR of 3.3% from 2021 to 2028. The report provides trends prevailing in the Europe automotive disc brake market along with the drivers and restraints pertaining to the market growth. Increasing norms for reducing fatalities caused due to vehicle accidents and rising production of cars and commercial vehicles are the major factor driving the growth of the Europe automotive disc brake market. However, disadvantages of iron cast material hinders the growth of Europe automotive disc brake market.      

 In case of COVID-19, Europe is highly affected specially the UK. The COVID-19 pandemic has led to a sudden fall of customer demand in multiple industries, which severally affected European Union (EU) industries. At the same time, crises in multiple supply chains across a variety of sectors occurred including the automotive sector. Further, in April 2020, the new car registrations of major European markets had reached the lowest level since World War II. The crisis is mainly due to the low demand from customer side. This has led to the slowdown in vehicle manufacturing. With the slowdown in production of vehicles, the market demand for automotive disc brakes have also gone down significantly in 2020. But now in 2021, with the uplifting of lockdowns and vaccination process, the automotive manufacturing activities have started again, and the raw material are easily available. Further, the industrial production in European Union increased by 0.5% in April 2021 compared with the last month. Comparing April 2021 and April 2020, production of motor vehicles increased by more than 400%, according to Eurostat Statistics data of June 2021. Thus, this will lead the growth of automotive disc brake market in the region.

The Europe 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 Europe 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 stainless steel segment dominated the Europe automotive disc brake market in 2020 and same 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 Europe 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 the UK, Germany, France, Italy, Russia, and rest of Europe.   

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 Europe 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, After two decades of bestselling success all over the world, Knorr-Bremse AG celebrates the delivery of 100,000 units of the CubeControl Metro Brake Control System.           

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