What is Automotive Brake Drum Market Scope?
The global automotive industry has experienced robust demand over the past few years and will also grow at a significant growth rate in emerging as well as developed economies. The automotive brake drum is automotive equipment used for applying brakes to the vehicle by using the friction produced by the set of brake pads and shoes. Growing safety concerns related to an automobile will generate lucrative demand for brake drums across the global market. In addition to this, since the automobile industry is one of the highly regulated industries by respective governments, the global automobile brake drums market will experience significant business growth over the forecasted period.
Influencing Trend:
Increasing Demand of on Vehicle Safety Solutions and Growth in the Logistics Industry
Market Growth Drivers:
Growing Need of Advance Technology Automotive Breaks and Increasing Sales of Commercial Vehicles
Challenges:
High repair and maintenance costs for technologically advanced brakes
Restraints:
Minimal Manufacturing Tolerance might Maximize Manufacturing Overheads
Opportunities:
Growing Demand in The Emerging Countries
The Automotive Brake Drum market study is being classified by Type (Investment Casting, Sand Casting and Die Casting), by Application and major geographies with country level break-up.
The companies are exploring the market in new regions by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. Key players are exploring new geographies through expansions and acquisitions across the globe to avail a competitive advantage through combined synergies Analysts at AMA predicts that Vendors from United States will contribute to the maximum growth of Global Automotive Brake Drum market throughout the predicted period.
Continental (Germany), Federal-Mogul (United States), STEMCO (United States), TRW (United States), Aisin Takaoka (United States), BPW (Germany), Brembo (Italy), Meritor (United States), Accuride Wheel End Solutions (United States) and Bendix (United States) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are ACDelco (United States) and Brake Parts Inc (United States).
Segmentation Analysis
Analyst at AMA have segmented the market study of Global Automotive Brake Drum market by Type, Application and Region.
On the basis of geography, the market of Automotive Brake Drum has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Influencers and their Development Strategies
In August 2020, Hendrickson USA LLC, Woodridge, Illinois, has acquired the Stemco Motor Wheel brake drum and Crewson brake adjuster brands from Stemco, a specialized truck equipment manufacturing company, and its parent company EnPro Industries. This acquisition will provide a platform for Hendrickson to advance our lightweight drum brake system performance and provide components that will complement our existing product portfolio. We look forward to working with our new associates and strengthening our business ultimately serving the commercial truck and trailer industry.
On April 30, 2018, STEMCO Products Inc. has announced that PepsiCo will update 1,600 trailers in the company’s fleet with STEMCO TrailerTail and EcoSkirt products. Through this initiative, PepsiCo aims to improve the fuel economy of its fleet of trucks and trailers and make less of an impact on the environment.
Key Target Audience
Manufactures of Automotive Brake Drum, Suppliers and Distributors, Government Regulatory Bodies, Government Research Organization, Privacy Research Organizations and Others
Automotive Brake Drum Market Study: Important Years
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Major Highlights of Market Study
Demand Determinants: Identifying top-notch application and business segments that seek high growth potentials in Automotive Brake Drum Market.
Key Strategic Developments: To target untapped regions more aggressively by focusing on product/service developments, innovation and R & D, new launches, Merger & acquisitions, JVs & partnerships.
Forces & Market Dynamics: Growth drivers, restraints & opportunities available in Automotive Brake Drum industry is examined with reference relevant market sectors and sub-sectors.
Customization available in this Study:
The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
To compete effectively, companies also require quantitative estimates of the future growth and qualitative nature of the market. AMA Research features not just specific market sizing estimates, but also includes significant value-added commentary on Technological Trends and Innovations, Regulatory Policies, Market Maturity Indicators, Market Share Movements, New Entrants into the Market & Entry/Exit Barriers, Consumer Demographics, Supporting Company Financial and Cash Flow Planning, Open Up New Markets, To Seize Powerful Market Opportunities, Key Decision in Planning and to Further Expand Market Share, Identify Key Business Segments, Market Proposition & Gap Analysis.