Report : Middle East and Africa Automotive Disc Brake Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Opposed Piston Type Disc Brake and Floating Caliper Type Disc Brake), Material Type (Cast Iron, Aluminum, Stainless Steel, and Others), and Vehicle Type (Passenger Vehicles, Light Commercial Vehicles (LCVs), and Heavy Commercial Vehicles (HCVs))
Opposed Piston Type Disc Brake Segment is Expected to be Fastest Growing Segment During Forecast Period for MEA Region
According to a new market research study on “MEA 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$ 554.45 million by 2028 from US$ 455.52 million in 2021. The market is estimated to grow at a CAGR of 2.8% from 2021 to 2028. The report provides trends prevailing in the MEA automotive disc brake market along with the drivers and restraints pertaining to the market growth. Burgeoning self-driving/autonomous vehicles and increasing adoption of electric vehicles are the major factor driving the growth of the MEA automotive disc brake market. However, problems due to iron cast material hinders the growth of MEA automotive disc brake market.
In case of COVID-19, MEA is highly affected especially South Africa, which has recorded the highest number of COVID-19 cases in the Middle East & Africa region and is followed by Saudi Arabia and the UAE. The Middle East & Africa region has a smaller number of companies operating or offering market-specific solutions. According to the Institute of Chartered Accountants in England and Wales (ICAEW), the Middle East economy is anticipated to witness a sharp slowdown in the first half of 2020, regardless of impetus packages as well as monetary rate cuts to relax the economic setback of the coronavirus outbreak. In April 2020, the number of used online car listings in the UAE dropped by nearly half. The automotive industry waits for the situation to return to normalcy and other industries to restart their work processes, with factories unable to resume operations and low requirements. Due to the lockdowns in many countries in MEA, the supply chain disruptions where been observed. Thus, the above-mentioned factors are expected to negatively impact the growth of the automotive disc brake market in the region in 2020. However, in 2021, with the uplifting of lockdown restrictions, the vehicle manufacturing has started again and the raw materials are available in the market with improving supply chain facilities now, helps in creating a positive scenario for the automotive disc brake market growth in region.
The MEA 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 MEA 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 MEA 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 MEA automotive disc brake market in 2020 and heavy commercial vehicles (HCVs) segment is expected to be fastest growing during forecast period. Further, based on country, the market has been segmented into South Africa and rest of MEA.
Brembo S.p.A., EBC Brakes, Haldex Group, Knorr-Bremse AG, and Mando Corporation are among the leading companies in the MEA 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, Haldex is going to further adapt its existing brake pad range, for the ModulT, to much better aftermarket requirements. This concerns the broadly used brake pad kit 95396 for 22.5” applications of the SAF axle. Because of introduction of second generation ModulT disc brake, this step is necessary for SAF axles application and serves to minimize errors during replacement and maintenance of the disc brake pad.
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