The rising passenger and commercial vehicle sales are fostering the automotive brake shims market growth. As the demand for vehicles increases, the interest of regulatory bodies in rolling out necessary regulatory mandates for ensuring vehicle safety is also rising. Moreover, fatalities caused due to vehicle accidents are encouraging government bodies to introduce new norms for vehicles and road safety. As a poor braking system is one of the key causes of road accidents, establishing proper norms for using friction materials and braking systems is necessary. Since November 2016, the replacement of brake discs on newly registered vehicles should comply with the ECE R90 (i.e., ECE Regulation 90 or Economic Commission for Europe Regulation 90) quality standard. This quality standard is implemented across the European Union and in non-European countries. Since November 1, 2016, all passenger cars of every model have ECE R90 brake discs and drums. Companies such as MEYLE provides brake discs that already comply with the new standard. Similarly, ZF Aftermarket is also producing with new ECE R90.
With new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Europe automotive brake shims market at a substantial CAGR during the forecast period.
Europe Automotive Brake Shims Market Segmentation
The Europe 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 Europe 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 Europe automotive brake shims market is segmented into Germany, France, Italy, the UK, Russia, and Rest of Europe. In 2020, Germany held the largest market share; and France is expected to grow at the fastest CAGR during the forecast period.
Avery Dennison Corporation, Brembo S.p.A., BOSCH Auto Parts, Trelleborg Group, Meneta, Super Circle, NUCAP, Delphi Technologies Plc., and TEXTAR Brake Technology are among the leading companies in the Europe automotive brake shims market.