Electric vehicle (EV) production is rising continuously in Asia Pacific countries, which is a major factor driving the adoption of new braking systems. Many electric cars utilize regenerative and mechanical braking systems in combination, as these systems assist in saving energy. In addition to energy-saving, regenerative braking technology enhances the life of friction brake systems. In December 2019, Brembo focused on developing advanced brakes suitable for electric vehicles (EVs). Similarly, in August 2021, Continental AG resumed its focus on restructuring disc brakes for EVs. The company has created a minimalist brake caliper that removes all extra material to decrease the weight to a bare minimum. Moreover, it is exploring the possibility of lightweight aluminum brake components with the potential to handle electric vehicles and reduce braking demands with lower price and weight than brakes that are in use currently. Additionally, disc brake manufacturing has surged with the rising demand for electric vehicles, which highlights the need for automotive brake shims.
With new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Asia Pacific automotive brake shims market at a substantial CAGR during the forecast period.
Asia Pacific Automotive Brake Shims Market Segmentation
The Asia Pacific 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 the largest share of the market,; and it is also expected to register a higher the highest CAGR during the forecast period. Based on application, the Asia Pacific 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 of the market in this region; and it is also expected to register the highest CAGR in the market during the forecast period. Based on country, the Asia Pacific automotive brake shims market is segmented into Australia, China, India, Japan, South Korea, and Rest of APAC. In 2020, China held the largest market share; and India is expected to grow at the fastest CAGR during the forecast period.
Avery Dennison Corporation, Brembo S.p.A., BOSCH Auto Parts, Trelleborg Group, Super Circle, Delphi Technologies Plc., NUCAP, Meneta, and TEXTAR Brake Technology are among the leading companies in the Asia Pacific automotive brake shims market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 246.14 Million |
| Market Size by 2028 | US$ 333.23 Million |
| CAGR (2021 - 2028) | 4.4% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Material Type
|
| Regions and Countries Covered |
Asia-Pacific
|
| Market leaders and key company profiles |
|
The Asia Pacific Automotive Brake Shims Market is valued at US$ 246.14 Million in 2021, it is projected to reach US$ 333.23 Million by 2028.
As per our report Asia Pacific Automotive Brake Shims Market, the market size is valued at US$ 246.14 Million in 2021, projecting it to reach US$ 333.23 Million by 2028. This translates to a CAGR of approximately 4.4% during the forecast period.
The Asia Pacific Automotive Brake Shims Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Automotive Brake Shims Market report:
The Asia Pacific Automotive Brake Shims Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Automotive Brake Shims Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Automotive Brake Shims Market value chain can benefit from the information contained in a comprehensive market report.
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