The new report by Expert Market Research titled, ‘Global Automotive Brake Wheel Cylinder Market Share Report and Forecast 2023-2028’, gives an in-depth analysis of the global automotive brake wheel cylinder market, assessing the market based on its segments like types, applications, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 4.2%
The rapid expansion of the automotive industry owing to the rising demand for commercial and passenger vehicles, inflating disposable incomes, and the increasing spending on automobile maintenance is projected to support the market growth. In addition to this, the increasing use of drum brakes by the major automotive manufacturers owing to the cost-effectiveness of the product is anticipated to augment the market growth in the forecast period. Moreover, the thriving transportation industry in emerging economies, owing to the rising trade activities and flourishing retail and e-commerce sector, is likely to provide impetus to the market growth in the forecast period. In terms of region, North America accounts for a significant share in the market owing to the increasing inclination of consumers towards adventure and leisure journeys, coupled with the growing availability of advanced automotive infrastructure and solutions.
Industry Definition and Major Segments
Automotive brake wheel cylinder is a mechanical component of an automobile which breaks the torque in a drum brake system by converting input of the driver into clamp force on the brake shoe. The automotive brake wheel cylinder is a crucial component of the vehicle system used to slow down the vehicle in order to make it stationary.
By type, the market can be segmented into:
• Single Piston
• Double Piston
The significant applications of the product include:
• Passenger Vehicle
• Commercial Vehicle
The regional markets for automotive brake wheel cylinder include:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
The growing popularity and increasing sales of electric vehicles are likely to be the major trends contributing to the demand for automotive brake wheel cylinder. The growing demand for EVs can be attributed to the reduced consumption of fuel, reduced pollution, and high aesthetic appeal of these automobiles. Furthermore, the increasing investments by the major automotive companies to increase the acoustic standards of automobiles are likely to support the market growth in the forecast period. The use of high-quality materials and minimum tolerances to ensure the long service life of drum brake systems is expected to further enhance their utilisation in various applications.
Key Market Players
The major players in the market are Endurance Technologies, ZF Friedrichshafen AG, Federal-Mogul Corporation, Robert Bosch GmbH, and Valeo, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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