World Brakes Market to Post 4.66% CAGR to 2021, Projects Azoth Analytics in Its In-demand Report Available at MarketPublishers.com
29 Nov 2016 • by Natalie Aster
LONDON – The market for brakes is growing at a steady pace owing to the booming number of vehicles worldwide, which is prompted by the advances in the vehicle braking system, and is growing in significance amongst emerging countries. Surging popularity of electric drive cars among the population in tandem with the rising focus on safety has contributed to the growth and expansions of the brakes market.
Disc brakes are expected to take the lead in the marketplace on account of technological enhancement resulting in higher uptake amid the customers.
While developed nations are set to keep on grabbing the largest revenue market share, emerging countries are projected to respond to the market rosily owing to the ongoing technology developments, leading to a hike in the use of disc brakes.
The worldwide brakes market is poised to grow at a 4.66% CAGR through to 2021, due to the soaring demand of vehicles. Geography-wise, APAC region continues to dominate the market. In the foreseeable future, the Asia-Pacific region is likely to be a witness to robust growth, with the countries like China and India.
ZF Group, Aisin Seiki, Akebono Brake Industry, Mando Corporation, Brembo S.P.A., Federal-Mogul Holdings Corporation, Haldex AB, Knorr-Bremse AG, Nissin Kogyo and WABCO are amid the top players in the brakes market.
In-demand research report “Global Brakes (Disc Brakes, Drum Brakes) Market” created by Azoth Analytics aims at canvassing the brakes market, segmenting it based on types, technology, and by geography (by region and country). The study offers a detailed overview of the brake industry globally and for regional markets, covering historical growth and forecasts by value and type. The report sheds light on the industry developments and trends, market drivers and challenges. It covers Porter’s five forces analysis, PEST analysis, as well as gives data on imports and exports. The leading 10 companies operating in the industry are profiled along with a review of their financials. Furthermore, the report offers some strategic recommendations for the industry growth.
To find more insightful reports by Azoth Analytics, please visit this page at MarketPublishers.com.