Report : North America 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))
Floating Caliper Type Disc Brake Segment to Dominate North America Automotive Disc Brake Market During 2021–2028
According to a new market research study on “North America 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$ 3,490.86 million by 2028 from US$ 2,851.20 million in 2021. The market is estimated to grow at a CAGR of 2.9% from 2021 to 2028. The report provides trends prevailing in the North America automotive disc brake market along with the drivers and restraints pertaining to the market growth. Growing production of cars and commercial vehicles and rising norms for reducing fatalities caused due to vehicle accidents are the major factor driving the growth of the North America automotive disc brake market. However, use of iron cast material for manufacturing disc brakes hinders the growth of North America automotive disc brake market.
In case of COVID-19, the US, Canada, and Mexico have witnessed a significant rise in the number of COVID-19 infected patients across North America. The continuous growth of infected individuals has led the North America governments to impose lockdown across the nation’s borders. Majority of the manufacturing plants are shut down, municipalities are functioning slowly as compared to past, and the automotive & semiconductor industries are at a halt. The COVID-19 outbreak has negatively impacted the automotive industry in the region. In the United States, assembly plant closures are adding to the intense pressure on an increasingly distressed North America supply base where companies are at risk of defaulting on covenants, potentially requiring banks to step in. Further, sales forecast for the US estimate a decline of 9% annually that consumers are not buying new vehicles due to the pandemic, according to Accenture website data. Thus, limited supply of vehicle parts, shut of manufacturing, supply chain disruption, and drop in new vehicle sales has negatively impacted the North America automotive disc brake market. However, in 2021, with the uplifting of lockdown restrictions and vaccination processes, the automotive production has started again, and people are looking for purchase, which helps in creating a positive scenario for the North America automotive disc brake market growth.
The North America 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 North America 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 North America automotive disc brake market in 2020 and others 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 North America 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 the US, Canada, and Mexico.
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 North America 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, EBC Brakes introduced two piece fully floating brake disc range, 380x30mm SG2F012 (rear) discs and the 380x34mm SG2F016 (front) discs for ‘Turbo’ and ‘Turbo S’ 991-generation Porsche 911s and the 981 Cayman GT4.
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