Market Introduction
The automotive disc brakes market in APAC is expected to grow, owing to rise in population, rapid urbanization, and investments in automotive industries. The presence of developing economies such as China, India, South Korea, Malaysia, the Philippines, and Taiwan helps in making Asia a developing region. Stable economies and technological advancements support the growth of diversified industries and markets in Asia. As a global producer of automotive disc brakes, APAC is expected to be one of the fastest-growing markets. The automotive disc brake is in high demand in countries such as Japan, China, India, and Australia. The Asian countries are in the process of accepting electric and environmentally friendly mobility as a prominent means of transportation in the future. With increase in the adoption of electric vehicles, the demand for regenerative breaks will grow exponentially, which would play an influencing role in boosting the production cycle of automotive disc brakes.
In case of COVID-19, APAC is highly affected specially India. The COVID-19 that emerged in China has affected several neighboring countries such as India, South Korea, and Japan, among others. The government of APAC is taking possible steps to reduce coronavirus effects by announcing lockdown, and thus, impact the revenue generated by the market. China and India are among the leading manufacturing sectors in the region, and the most affected countries in the APAC region. Several markets have witnessed negative growth trends in the in the first half of the year in 2020. India, Japan, and South Korea among others are still combating the virus, which is a critical factor towards the slowdown in the growth of the automotive disc brake market. The lockdown has been having a severe impact on the automotive sector across the region. In Japan, the vehicles sales in August 2020, crossed 326,000 units, declining 16% on YoY basis. Similarly, in South Korea, the new vehicles sales in the country from top five automakers, such as Hyundai, Kia, SsangYong Motor, Renault, and General Motors have declined close to 6% reaching around 112,000 units. Thus, with the declining vehicle sales in APAC regions, the demand for automotive disc brake market has decreased in 2020. However, in 2021, with the uplifting of lockdowns and vaccination process, the manufacturing of passenger cars and commercial cars has started again. Therefore, this will lead the growth of automotive disc brake market in the region.
Market Overview and Dynamics
The APAC automotive disc brake market is expected to grow from US$ 7,885.84 million in 2021 to US$ 10,542.62 million by 2028; it is estimated to grow at a CAGR of 4.2% from 2021 to 2028. The trend of urbanization is growing at an exponential rate, which is leading to the hike in the average disposal income of the urban population, allowing them to enhance their lifestyles. The transformed lifestyles are further boosting the demand for passenger cars, thus, propelling the manufacturers to uplift the production to be able to optimally cater to customers. The production of vehicles, including passenger cars, has registered a steady growth in the region, in the post-recession era, i.e., since 2010. Lowered interest rates on loans have also favored the growth of the automobile industry. The year-on-year growth rate of passenger car production has been closed to 2% in the past 7–8 years. Since the past few years, the consumer behavior toward intercity and intracity transit has transformed to a new level. With increase in disposable income of individuals and stable economic structure of countries, the production of vehicles has boosted exponentially. With the rising demand for cars, the car production has further got impacted positively, which is creating the requirement for braking systems. Massive production of automobile will continue to boost the demand for disc brakes across APAC region.
Key Market Segments
In terms of type, the floating caliper type disc brake segment accounted for the largest share of the APAC automotive disc brake market in 2020. In terms of material type, the cast iron segment held a larger market share of the APAC automotive disc brake market in 2020. Further, the passenger vehicles segment held a larger share of the APAC automotive disc brake market based on vehicle type in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the APAC automotive disc brake market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are 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.
Reasons to buy report
APAC Automotive Disc Brake Market Segmentation
APAC Automotive Disc Brake Market - By Type
APAC Automotive Disc Brake Market - By Material Type
APAC Automotive Disc Brake Market - By Vehicle Type
APAC Automotive Disc Brake Market - By Country
APAC Automotive Disc Brake Market - Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 7,885.84 Million |
| Market Size by 2028 | US$ 10,542.62 Million |
| CAGR (2021 - 2028) | 4.2% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
Asia-Pacific
|
| Market leaders and key company profiles |
|
The Asia Pacific Automotive Disc Brake Market is valued at US$ 7,885.84 Million in 2021, it is projected to reach US$ 10,542.62 Million by 2028.
As per our report Asia Pacific Automotive Disc Brake Market, the market size is valued at US$ 7,885.84 Million in 2021, projecting it to reach US$ 10,542.62 Million by 2028. This translates to a CAGR of approximately 4.2% during the forecast period.
The Asia Pacific Automotive Disc Brake 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 Disc Brake Market report:
The Asia Pacific Automotive Disc Brake Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Automotive Disc Brake Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Automotive Disc Brake Market value chain can benefit from the information contained in a comprehensive market report.
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