Based on applications, automotive disc brake market is segmented into passenger and commercial vehicle. Commercial vehicles can be further segmented as Light Weight Vehicle (LCV) and Heavy Weight Vehicle (HCV). Passenger vehicle segment accounted for the highest industry share is expected to be dominated through 2024. LCV segment is anticipated to witness highest growth rate owing to increasing economic trade activities and emphasis on safety measures.
These solutions provide benefits such as high overall capacity, less cooling time, and optimal operation without the requirement of extra expenses for cleaning and adjustment. Compared to traditional solutions, these are less susceptible to warping or brake fade with temperature thus enable optimum performance in all weather conditions. Such advanced characteristics to enhance safety are expected to fuel the overall automotive disc brake market growth.
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Advancements such as good thermal conductivity, low noise, long durability, low wear rate, and steady friction disc braking systems offer a good price/benefit ratio to end users contributing to overall industry development. Moreover, automotive disc brake market is witnessing advent of advenced technological developments such as boosters and electric-mechanical systems. These advancements are expected to present potential growth avenues over the forecast timeline.
North America automotive disc brake market size is projected to surpass Europe over the forecast timeframe owing to high demand growth rates of luxury and high performance vehicles. Moreover, U.S. and Canada are featured with favorable government initiatives developing dedicated corridors to boost trade of automobile parts.
Europe automotive disc brake market size is expected to witness considerable growth in coming years owing to healthy economic recovery, presence of large automobile production facilities and huge demand for high performance vehicles. Due to these factors, Europe held the second largest market share in 2015. Germany and France automotive disc brake industry share are the highest contributing countries in the region. Growing economic trade activities has led to increased demand for heavy weight commercial vehicles (HCV) in the region.
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Key vendors in global automotive disc brake market include EBC Brakes, TRW Automotive, Hyundai Mobis, Nissin Kogyo, Haldex, Federal Mogul, Knorr-Bremse, Halla Mando, Akebono, NUCAP, and Aisin Seiki among others.
Key market players are focusing on new product development and to maintain their position and sustain in competitive market. For instance, in September 2016, Knorr-Bremse is announced its plans to invest in R&D activities for the development of next generation brakes for heavy-duty commercial vehicles. In February 2017, Federal-Mogul and NUCAP industries formed strategic alliance to develop solutions in friction category specifically aimed for increasing demands in North America. The joint venture was to develop a product with improved performance and safety.
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