Report : South America Automotive Backing Plate Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – By Brake Types (Disc Brake and Drum Brake), Brake Material Type (Aluminium, Iron, and Others), and Vehicle Type (Passenger Cars, Light Commercial Vehicle, and Heavy Commercial Vehicle)
Drum brake Segment to Dominate South America Automotive Backing Plate market Forecast to 2028 during 2019–2028
According to a new market research study on the South America Automotive Backing Plate market Forecast to 2028 –– by brake types ,brake material type ,vehicle type and countries is expected to reach US$ 51.68 million by 2028 from US$ 45.54 million in 2021. The market is estimated to grow at a CAGR of 1.8%from 2021 to 2028. The report provides trends prevailing in the South America Automotive Backing Plate market along with the drivers and restraints pertaining to the market growth. Stringent automotive active safety regulations the major factor driving the growth of the South America Automotive Backing Plate market. However, issues associated with high development and maintenance costs the growth of South America Automotive Backing Plate market.
The South America Automotive Backing Plate market is segmented into brake types, brake material type, vehicle type, and country. Based on brake types, the market is bifurcated into disc brakes and drum brakes. In 2020, the drum brake segment held a larger market share. Based on brake material type, the market is segmented into aluminum, iron, and others. In 2020, the others segment held a largest market share. Based on vehicle type, the market is categorized into passenger cars, light commercial vehicle, and heavy commercial vehicle. In 2020, the passenger cars segment held a largest market share. Based on country, the South America Automotive Backing Plate market is fragmented into Brazil, Argentina, and Rest of SAM. The Brazil is contributed a substantial share in 2020.
Super Circle, NUCAP, MAT Foundry Group Ltd, ORTHLINGHAUS-WERKE Gmbh, Sparex and ACDelco are among the leading companies in the South America Automotive Backing Plate market. For instance, May-2021 NUCAP Energy, a subset of NUCAP Industries has launched an engineered surface metal design that enhances efficiency of heat transfers in thermal uses improving capacity of energy storage systems.
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