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The automotive brake linings market share is expected to increase by USD 132.86 million from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 4.88%.
This automotive brake linings market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers automotive brake linings market segmentation by application (passenger vehicles and commercial vehicles) and geography (APAC, Europe, North America, South America, and MEA). The automotive brake linings market report also offers information on several market vendors, including Aisin Corp., Akebono Brake Industry Co. Ltd., Brembo Spa, Continental AG, Haldex AB, Nisshinbo Holdings Inc., Rane Holdings Ltd., Sundaram Brake Linings Ltd., Super Circle Auto Ltd., and TBK Co. Ltd. among others.
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The easy availability of low-cost brake linings is notably driving the automotive brake linings market growth, although factors such as frequent vehicle recalls due to brake-related issues may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the automotive brake linings industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Automotive Brake Linings Market Driver
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 form an integral part of automotive brake systems. 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 offline as well as on 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.
Key Automotive Brake Linings Market Challenge
The number of vehicle recalls has increased over the years. Mostly, such recalls occur to address issues related to malfunctioning of a system or component, which may develop a fault during the product's life cycle. In such cases, the automaker recalls the vehicles with potential issues voluntarily to rectify or resolve them. There have been such recalls related to brake pads or shoes, which include brake linings as well. 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.
This automotive brake linings market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the automotive brake linings market encompasses successful business strategies deployed by the key vendors. The automotive brake linings market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The automotive brake linings market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Application
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
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