Dublin, Jan. 04, 2023 (GLOBE NEWSWIRE) -- The "Automotive Brake Band Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Transmission Type, By Vehicle Type, By Propulsion, By Demand Category, and By Region" report has been added to ResearchAndMarkets.com's offering.
The global automotive brake band market is anticipated to witness a growth of steady CAGR in the forecast period, 2024-2028. The flourishing automotive industry, entry of new market players, and the ongoing technological advancements to upgrade the existing infrastructure are driving the growth of the global automotive brake band market.
Need To Achieve Optimum Performance of Automobiles Supports Market Growth
The rise in the disposable income of the consumers is fueling the expenditure capacity to afford a quality lifestyle. Rapid urbanization and changing consumer preferences for private vehicle owners are expected to influence market growth.
Automotive market players are making efforts and high-end investments in research and development activities to find innovative solutions to advance vehicle components and enhance vehicle performance.
Market players are improving the driving experience by magnifying smooth acceleration and smooth gear shifting. Increasing vehicle production in countries like India, China, and Brazil and a growing vehicle fleet are expected to fuel the global automotive brake band market demand.
Increasing Sales of Commercial Vehicles Drives Market Growth
Rapid urbanization and industrialization, and the development of road infrastructure are driving the development of the logistics industry. Due to the ongoing infrastructure developments and allocation of funds by leading authorities, the booming construction and mining industry is expected to bolster the demand for commercial vehicles across the globe. Install automatic manual transmission in commercial vehicles.
The driver can customize the automatic or switch to a manual system by pushing the gear lever, upshifting, and then pulling it downwards. The United States is expected to witness substantial growth opportunities due to key market players and advanced technologies in the manufacturing process.
Massive sales of passenger cars and efforts to improve the driving experience are expected to accelerate the market growth in the United States.
Ongoing Technological Advancements Fuel the Market Growth
Automotive OEMs adopt advanced systems like automated manual transmission to minimize fuel consumption and carbon emissions to enhance driving performance. Over 60% of passenger cars are equipped with automatic transmission systems. The rise in the adoption of dual-clutch transmission (DCT) and continuously variable transmission (CVT) over the manual and automatic transmission systems to support fuel efficiency and achieve higher automotive performance is expected to boost the market growth. The introduction of intelligent manual transmission by the market players and other technologies influences market demand.
Market Players
Continental AG, Robert Bosch GmbH, Knott Brake Co, Cook Bonding & Manufacturing Co., Inc., Phoenix Friction Products, are among the major market players in the global platform that lead the market growth of the global automotive brake band market.
Report Scope:
In this report, global automotive brake band market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Automotive Brake Band Market, By Transmission Type:
- Automatic Transmission (AT)
- Automated Manual Transmission (AMT)
- Dual-Clutch Transmission (DCT)
- Continuously Variable Transmission (CVT)
- Others
Automotive Brake Band Market, By Vehicle Type:
- Passenger Cars
- LCV
- M&HCV
Automotive Brake Band Market, By Propulsion:
- Petrol/CNG
- Diesel
- Electric and Hybrid
Automotive Brake Band Market, By Demand Category:
- OEM
- Replacement
Automotive Brake Band Market, By Region:
- North America
- United States
- Canada
- Mexico
- Asia-Pacific
- China
- India
- Japan
- Malaysia
- Thailand
- Indonesia
- Vietnam
- South Korea
- Europe & CIS
- Germany
- France
- United Kingdom
- Spain
- Italy
- Belgium
- Russia
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- South Africa
- UAE
- Saudi Arabia
- Egypt
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Impact of COVID-19 on Global Brake Band Market
5. Voice of Customer
6. Global Brake Band Market Outlook
7. North America Brake Band Market Outlook
8. Asia Pacific Brake Band Market Outlook
9. Europe & CIS Brake Band Market Outlook
10. South America Brake Band Market Outlook
11. Middle East and Africa Brake Band Market Outlook
12. Market Dynamics
13. Market Trends and Developments
14. Competitive Landscape
15. Strategic Recommendations
16. About the Publisher & Disclaimer
Companies Mentioned
- Continental AG
- Robert Bosch GmbH
- Knott Brake Co
- Cook Bonding & Manufacturing Co., Inc.
- Phoenix Friction Products
For more information about this report visit https://www.researchandmarkets.com/r/wr6vc9
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