Covid Impact on Brake Shims Market

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Source: announcement

NEW YORK – The high initial and installation cost of automotive disc brake systems in automobiles, rise in prices of vehicles, and high costs incurred in design and testing are restraining automotive brake shims market growth, according to a recently released report “Automotive Brake Shims Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Material Type and Application” – .

Moreover, the new advancements in automotive brake shims and the implementation of noiseless disc brakes in the premium segment vehicles are among the other factors contributing to the market growth. Thus, the increase in the demand for disc brake systems drives the automotive brake shims market.

In APAC, nations like China and India, together accounted for around 34 percent of global car manufacturing. Active braking systems are becoming more popular, which is helping luxury and premium car sales.

In addition, India’s growing demand for motorbikes is driving the need for brake shims in a two-wheeler. Protex, a Bapcor subsidiary, has introduced a new product line to meet the market’s growing need for automobile brake shims in Australia.

In Europe, Europe-based automakers automobile sales are expected to increase in 2022.As the demand for sports vehicles grows, so does the need for disc brakes, resulting in increased OEM and aftermarket sales in the automotive brake shims market.

This aspect will propel the automotive brake shims market forward. Moreover, ACEA reported the rise of passenger vehicles up to 10.5 million units in 2022. As a result, the automakers have a lot of flexibility in adopting cutting-edge solutions that will boost the productivity of various industrial and urban operations.

Germany, the U.K., Poland, and the Czech Republic are significant countries with growing automobile industries. All the factors mentioned above will help in boosting the automotive brake shims market growth

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In Middle East, The Gulf nations are economically developed, but African countries are still catching up to these countries’ economic situations. The automobile sector is predicted to expand faster as it progresses through the stages of technical development.

To view the entire announcement, click HERE.

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The Brake Report

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