New York, April 27, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Automotive Backing Plate Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Brake Types (Disc Brake and Drum Brake), Brake Material Type (Aluminium, Iron, and Others), and Vehicle Type (Passenger Cars, Light Commercial Vehicle, and Heavy Commercial Vehicle)”, the global automotive backing plate market growth is driven by the stringent automotive active safety regulations and enhanced vehicle safety with ABS & EBD, regenerative braking to create lucrative opportunities in EV ecosystem is presenting significant potential for the future growth of the market players.
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| Report Coverage | Details |
| Market Size Value in | US$ 590.61 Million in 2021 |
| Market Size Value by | US$ 771.30 Million by 2028 |
| Growth rate | CAGR of 3.9% from 2021 to 2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
| No. of Pages | 153 |
| No. Tables | 88 |
| No. of Charts & Figures | 81 |
| Historical data available | Yes |
| Segments covered | Brake Types, Brake Material Type, and Vehicle Type |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Automotive Backing Plate Market: Competitive Landscape and Key Developments
Super Circle, NUCAP, MAT Foundry Group Ltd., INDUS Marmara Auto Components Pvt Ltd., Dorman Products, Ridex GMBH, ORTLINGHAUS-WERKE GmbH, Sparex, RSB Tech Solution, and ACDelco[RS1] [SG2] are among the key players profiled during the study of the global automotive backing plate market. Several other market players have been analyzed to understand the automotive backing plate market and its ecosystem.
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In March 2022, Dorman Products announced 250 new auto parts, including more than ~100 new aftermarkets for a wide range of cars and trucks.
In March 2018, NUCAP announced its back-plate project win, including FineBlankPlus with a stepped-chamfer in North American FORD Transit Platform.
An automated braking system is a vital component of car safety technology. It is a powerful system specifically designed to either prevent or limit the speed of a moving vehicle before a collision with another vehicle, a pedestrian, or any other barriers. These systems employ sensors, such as radar, video, infrared, or ultrasonic, to identify potential objects in front of the vehicle and then use brake control to avoid a collision if the item is identified. An automated braking system can also communicate with a vehicle's GPS and utilize its database of stop signs and other traffic data to apply the brakes in time if the driver fails to do so.
Automotive Backing Plate Market: Brake Material Type Segment Overview
Based on brake material type, the automotive backing plate market is segmented into aluminium, iron, and others. In 2021, the others segment accounted for the largest market share.
When an EV (electric vehicle) driver releases the accelerator pedal during regenerative braking, the power flow from the battery to the motor is discontinued. However, the spinning component of the engine (the rotor) continues rotating in tandem with the wheels of the moving automobile. Without a constant supply of electricity from the battery, the motor transforms into a generator, transferring kinetic energy from the spinning rotor to the battery, while resistance to the rotor slows the vehicle. Improvements to batteries will enhance the amount of energy that regenerative braking can store. Supercapacitor advancements will also improve braking efficiency. Regenerative braking is most effective at higher speeds and on a long downhill since more kinetic energy is available to be converted. Research on regenerative braking systems for reducing the energy loss in the braking process is making EVs more efficient, economical, and environmental-friendly. The continuous advancements in regenerative braking systems provide lucrative opportunities for the growth of the automotive backing plate market during the forecast period.
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Impact of COVID-19 Pandemic on SAM Automotive Backing Plate Market:
The COVID-19 pandemic adversely affected the growth of the automotive backing plate market in SAM due to the downfall in the automotive industry in 2020. The commercial vehicle production in Argentina dropped from 206,423 units in 2019 to 164,186 units in 2020, as per OICA production statistics. However, after the onset of the COVID-19 pandemic, the automobile industry in SAM emerged as one of the key drivers of regional growth, with an expected CAGR of 5% from 2021 to 2026, according to the article published by Maersk in February 2022. By 2025, hybrid electric vehicles (HEV) and electric vehicle (EV) sales in the SAM’s nine emerging electric mobility countries, including Argentina, Brazil, Chile, Colombia, Costa Rica, Ecuador, and Paraguay, are expected to rise to more than ~158,300 units, an increase of more than ~30% from 2018, as per the article published by the Maersk in February 2022. Thus, the automotive backing plate market will grow during the forecast period due to the increasing sales of EVs.
The global automotive backing plate market includes companies operating in a wide range of product portfolio. Each category has some well-established key players and owing to different markets in which they operate and compete it is not feasible to determine key five players in the overall automotive backing plate market. However, based on parameters such as overall revenue, brand image, current automotive backing plate product portfolio, geographic reach, customer base, technology adoption & integration, new product/service/feature launches, partnerships, mergers & acquisitions, and other market-related activities, we have listed above five key players operating at a global level.
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Dorman Products, NUCAP, Ridex GMBH, ORTLINGHAUS-WERKE GMBH, ACDELCO (GM) are the five key market players operating in the global automotive backing plate market. Super Circle, MAT Foundry Group Ltd., INDUS Marmara Auto Components Pvt Ltd., Sparex, and RSB Tech Solution are few other notable players that are profiled in this market study. In addition to these players, multiple other leading global, regional & local market players, emerging companies, market disruptors and niche market players were studied and analyzed during the course of this study to gather a holistic view of the market.
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