Brake Aftermarket to Grow by $14 Billion by 2027

Source: Report Linker announcement

NEW YORK – The global automotive brake component aftermarket is expected to grow by ^14.07 billion in the next five years, accelerating at a compound annual growth rate (CAGR) of 3.2 percent during the period, according to a recently published study by ReportLinker.

Reportlinker.com released Global Automotive Brake Components Aftermarket Market 2023-2027 which produced these predictions.

The report provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The study offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by the increasing number of parc vehicles, government measures to enhance safety features in vehicles, and growing demand for automotive aftermarket components.

The automotive brake components aftermarket market is segmented as below:

By Product

Brake pads
Brake shoes
Brake calipers
• Others

By Vehicle Type

• Passenger cars
• Commercial vehicles

By Geographical Landscape

• APAC
• Europe
• North America
• Middle East and Africa
• South America

This study identifies the emerging 3D printing in the aftermarket as one of the prime reasons driving the brake aftermarket market growth during the next few years. Also, technological innovation in aftermarket brake material and the growing prominence of e-commerce sales for automotive aftermarket parts will lead to sizable demand in the market.

The analyst presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. The report covers the following areas:

• Automotive brake components aftermarket market sizing
• Automotive brake components aftermarket market forecast
• Automotive brake components aftermarket market industry analysis

This robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading automotive brake components aftermarket market vendors that include Aisin Corp., Akebono Brake Industry Co. Ltd., ABS Friction Inc., Baer Inc., BorgWarner Inc., Brembo SpA, Carlisle Companies Inc., Continental AG, Disc Brakes Australia Pty. Ltd., First Brands Group, Freeman Automotive UK Ltd., Haldex AB, Hyundai Motor Co., Meritor Inc., Nisshinbo Holdings Inc., Robert Bosch GmbH, Tata Motors Ltd., Tenneco Inc., Valeo SA, and ZF Friedrichshafen AG.

Also, the market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

The analyst presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers.

The data presented is comprehensive, reliable, and a result of extensive research – both primary and secondary. Technavio’s market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.