Global Automotive Brake Linings Market 2019-2023
|発行||TechNavio (Infiniti Research Ltd.)||商品コード||797419|
|出版日||ページ情報||英文 126 Pages
|自動車用ブレーキライニングの世界市場：2019年〜2023年 Global Automotive Brake Linings Market 2019-2023|
|出版日: 2019年02月22日||ページ情報: 英文 126 Pages||
Brake linings form an integral part of automotive disc and drum brake systems. They serve as friction material and comes fitted as standard in automotive brake systems. Brake linings are a common component and are easily available and affordable. The brake linings made of asbestos material are cheaper to manufacture, and thus forms an integral part of automotive brake system. Brake linings, being a standard fitment in brake shoes and pads, are included in the cost of brake shoes and pads. This means that brake linings are inexpensive and cost-effective for automakers. In addition, the availability of numerous regional and global brake lining manufacturers further intensifies the competition, leading to price wars. Brake products from both domestic and foreign players are easily available through offline as well as online distribution channels. The convenient product availability and low cost have been playing an instrumental role in driving the penetration of brake products in automobiles. Technavio's analysts have predicted that the automotive brake linings market will register a CAGR of over 8% by 2023.
The global automotive market witnessed an increase in production over the last couple of years, which is directly driving the growth of the global automotive brake linings market. This increase in the production of automotive is acting as a primary driver for the global automotive brake linings market.
The number of vehicle recalls has increased over the years. The company recalled these vehicles, as some of the owners of the affected vehicles witnessed smoke coming out of rear wheels due to brake pads touching the rotors. Such recalls related to brake pads and their assemblies have increased in the past couple of years. Hence, the increase in the number of such occurrences acts as a challenge to the growth of the global automotive brake linings market, as they raise safety concerns as well as lead to cost liabilities.
For the detailed list of factors that will drive and challenge the growth of the automotive brake linings market during the 2019-2023, view our report.
The market appears to be fairly fragmented and with the presence of several vendors. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market's competitive landscape and offering information on the products offered by companies.