The international automotive brakes market could be challenged by the growing concern about the effects of the automobile sector on the environment with technologies such as heavy braking systems which hold an augmented level of carbon dioxide emission.
Albany, NY -- (SBWIRE) -- 02/09/2017 -- The global automotive brakes market is anticipated to grow at a rapid rate with the augmenting concern of vehicle safety. The functions of automotive brakes are chiefly related to causing a vehicle to come to a complete stop and helping it to slow down. During the process, the design of automotive brakes allows the transformation from kinetic energy to heat energy to take place. The two main functions of automotive brakes are evident in the usage of parking brakes and service brakes. While service brakes are used to stop a vehicle when in motion, parking brakes can hold the vehicle when it is parked. With a range of sophisticated, economical, and present-day brake system technologies prevailing in the automotive brake system market, the automotive sector has emerged as a vital contributor to the world economy.
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Global Automotive Brakes Market: Trends and Prospects
Besides the worldwide worry about safety of vehicles and passengers, the constant dwindling of automobile maintenance lifecycle is expected to add to the growth of the global automotive brakes market. One of the reasons that the vehicle maintenance lifecycle is witnessing a low globally is the rising length of trips in both intra-city and inter-city applications. The market is also predicted to take massive leaps on the back of the unplanned growth rates of M&HCVs, LCVs, two-wheeled and three-wheeled vehicles, and passenger automobiles. Moreover, strict policies of governments regarding safety and emissions could help the market to advance significantly.
Global Automotive Brakes Market: Challenges and Opportunities
The international automotive brakes market could be challenged by the growing concern about the effects of the automobile sector on the environment with technologies such as heavy braking systems which hold an augmented level of carbon dioxide emission. Another major hurdle in the growth path could be the peculiar type of maintenance required by electronically assisted brakes and unsettling prices of raw materials.
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In this regard, the adoption of regenerative brakes and compact and light braking systems is envisaged to compensate for the challenges of the global automotive brakes market. The bright future of the global market is foreseen to be in the hands of vendors adopting the escalating evolution of the brake energy recuperation system. The demand for lighter and efficient designs and elevating number of vehicle safety regulations are also foretold to lift up the market growth.
Manufacturers leveraging the lucrative benefits of e-retailing of automotive brakes through e-commerce giants such as Amazon and eBay are making customers happy with the providence of low cost and convenience. Advancement in technologies such as electronic stability control (ESC) has been a key opportunity for marketers in the automotive brakes industry.
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Global Automotive Brakes Market: Regional Analysis
With the availability of a good amount of manpower, the Asia Pacific segment is envisaged to exhibit strong growth in the global automotive brakes market. North America, however, continues as the leading segment on the manufacturing basis. Among others, the important companies studied in the report are Akebono Brake Industry Co., Ltd., Robert Bosch GmbH, Accuride Corporation, Hyundai Mobis Co., Ltd., Aisin Seiki Co., Automotive Components Europe S.A., Nissin Kogyo Co., Ltd., Continental AG, Zhejiang Asia-Pacific Mechanical & Electronical Co., Ltd., TMD Friction Group S.A, Knorr - Bremse AG, Halla Mando Corporation, and Federal-Mogul Corporation.
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