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    Automotive Brake Shoe Market Analysis & Forecast

    Automotive Brake Shoe Market Analysis & Forecast
    Report code - SR2110 Delivery - 2 Weeks
    Automotive Brake Shoe Market Size, Share, Trend, Forecast, Competitive Analysis, and Growt See more...

    Market Insights

    The automotive brake shoe market is expected to grow at a promising CAGR of 7.2% during the forecast period.

    Want to know more about the market scope:

    Market Dynamics

    These factors are expected to boost the demand for automotive brake shoe market in the coming years:

    • Continuously growing economies, urbanization, and various supportive government policies are all contributing to the production and consumption of automobiles in both developed and developing countries worldwide.
    • Demand for both, passenger and commercial vehicles, is on the rise, given the rising personal disposable income of consumers.

    Automotive Brake Shoe?

    Automotive brake shoes are a type of brake pad that presses against the inside surface of a drum to stop a wheel's rotation. They are usually made of cast iron and can be organic or ceramic in nature. The friction caused by the brake shoe on the inner surface of the brake converts kinetic energy into heat and causes the drum to stop moving.

    Automotive Brake Shoe Market Features

    Market Growth (2023-2028)

    CAGR of 7.2% 

    Base Year of Study

    2022

    Trend Period

    2017-2021

    Forecast Period

    2023-2028

    Segment Covered

    By Vehicle Type (Passenger Cars, Light Commercial Vehicles, and Heavy Commercial Vehicles),

    By Product Type (Leading/Trailing, Twin Leading, and Duo-Servo),

    By Sales Channel Type (OEM and Aftermarket),

    By Region (North America, Europe, Asia-Pacific, and Rest of the World)

    Dominant Region

    Asia-Pacific is expected to remain the largest region in the market for automotive brake shoes during 2023-2028.

    Key Players

    Most of the companies are deploying various strategies regarding product development & differentiation, pricing, branding, technology, and customized products to gain competitive advantage. 

    The following are some of the key players in the market:

    Segment Analysis

    Vehicle Trends

    The market is segmented as passenger cars, light commercial vehicles, and heavy commercial vehicles. Passenger cars are expected to be the largest segment during 2023-2028.

    The changing lifestyle and increasing disposable income are one of the major factors driving the sales of passenger cars, which is expected to drive the demand for brake shoes during 2023-2028.

    Product Trends

    The market is bifurcated into leading/trailing, twin leading, and duo-servo. Twin leading brake shoe systems are likely to remain the most popular segment during the assessment period due to their high efficiency in forward braking and ability to operate without the use of a power brake booster.

    All three types of systems use a similar composition, but their functions are different. Leading/trailing brake shoe system, for instance, is very common in the rear wheels of front-wheel drive systems.

    Regional Analysis

    Asia-Pacific is expected to remain the largest region in the market for automotive brake shoes during 2023-2028. Major global automakers prefer to source parts and components from Asia-Pacific as they are cheaper there than in other regions.

    Know more about Dominant Region: 

    Along with this growth, the region's automobile sector is expected to drive the product demand in the regional market. North America and Europe, on the other hand, are expected to clock substantial gains during the forecast period as they focus more on the development of EVs.  

    Segmentation

    The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

    The market is segmented into the following categories:

    By Vehicle Type

    • Passenger Cars 
    • Light Commercial Vehicles
    • Heavy Commercial Vehicles

    By Product Type

    • Leading/Trailing
    • Twin Leading
    • Duo-Servo

    By Sales Channel Type

    • OEM 
    • Aftermarket

    By Region

    • North America (USA, Canada, and Mexico)
    • Europe (Germany, France, The UK, Russia, Italy, and Rest of Europe)
    • Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific)
    • Rest of the World (Brazil, Argentina, and Others).

    , to know the market segment details.

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market.

    Report – Features

    Segmentation

    4

    Regions Covered

    4

    Countries/Sub-Regions Covered

    >15

    No. of Figures & Tables

    >130

    Company Profiles

    5

     

    The following are the key features of the report:

    • Overview, industry life cycle and supply chain analysis.
    • Environment analysis: Growth drivers and constraints, Porter’s five forces and SWOT analysis.
    • Trend and forecast analysis.
    • Segment trend and forecast.
    • Competitive landscape and dynamics: Market share, Product Portfolio, New Product Launches, etc.
    • Attractive market segments and associated growth opportunities.
    • Emerging trends.
    • Strategic growth opportunities for the existing and new players.
    • Key success factors.

    Research Methodology

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

    More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.

    We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

    Target Audience

    The target audience of the automotive brake shoe market includes-

    • Automotive Brake Shoe Vendors
    • Automotive Brake Shoe Manufacturers
    • Automotive Brake Shoe Distributors
    • Organizations
    • Government Bodies.

    COVID-19 Impact

    Following the pandemic's outbreak, the automotive brake shoe market experienced a decline. The wrath of the pandemic wreaked havoc across the automotive industry.  As a result of supply chain disruptions, cash flow constraints, and temporary shutdowns in manufacturing facilities, the demand for automotive brake shoes decreased.

    Critical Questions Answered in the Report

    This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the global market. The historic years considered for the study are 2017-2028, base year is 2022, estimated year is 2023, and Assessment period is 2023-2028. Following are the critical questions answered in the report.

    • What are the key trends in the global market?
    • How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in next five years?
    • What is the impact of COVID-19 on global market?
    • What are the key strategies adopted by the major vendors to lead in the global market?
    • What is the market share of the top vendors?

    Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@Stratviewresearch.com.

    Frequently Asked Questions (FAQs)

    Automotive brake shoes are a type of brake pad that presses against the inside surface of a drum to stop a wheel's rotation. They are usually made of cast iron and can be organic or ceramic in nature. The friction caused by the brake shoe on the inner surface of the brake converts kinetic energy into heat and causes the drum to stop moving.

    The market is expected to grow at a CAGR of 7.2% during 2023-2028.

    Continuously growing economies, urbanization, and various supportive government policies are all contributing to the production and consumption of automobiles in both developed and developing countries worldwide. Such an aspect is expected to drive the recovery and growth of the market in the coming years. Also, the demand for both, passenger and commercial vehicles, is on the rise, given the rising personal disposable income of consumers.

    Asia-Pacific is expected to remain the largest region in the market during 2023-2028.

    Asia-Pacific is estimated to be the fastest-growing region in the coming years. This growth can be attributed to rapid urbanization and rising demand for passenger and commercial vehicles due to increasing disposable income of people in the region.

    Bosch Auto Parts, BNA Automotive India Pvt. Ltd., ACDelco, Meritor, Inc., Brake Parts Inc., MAT Holdings, Inc., Tribo, ASK Automotive Pvt Ltd., Kampol, and SBS Friction A/S are some of the key players in the market.

    Twin leading brake shoe systems are likely to maintain their dominance in the market over the next five years due to their high efficiency in forward braking and ability to operate without the use of a power brake booster.

    The study period of the market is 2017-2028.

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