The global automotive drum brake market was valued at US$ 5.6 billion in 2021 and it is anticipated to grow up to US$ 9.1 billion by 2031, at a CAGR of 4.9% during the forecast period.
Global Automotive Drum Brake Market report from Global Insight Services is the single authoritative source of intelligence on Automotive Drum Brake Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
A drum brake is a system consisting of a set of brake shoes that are forced on the outer drum-shaped cover to stop the vehicle. It is a cost-effective type of brake system used in automobiles. A drum brake has two main parts, such as the lining and the shoes. The lining is made of a material that can create friction, such as asbestos, and the shoes are metal plates that squeeze against the lining. Moreover, the drum brake system has existed for a long time and has become an integrated part of the automobile industry. Drum brakes are mostly used in heavy-duty and medium-duty commercial vehicles.
Request Sample Report : https://www.globalinsightservices.com/request-sample/GIS23223
Market Drivers and Trends
As the demand for automobiles are surging, the regulatory mandates for making the automobiles safer are also increasing, thereby leading to a surging in demand for drum brakes. Several governments of countries such as India have taken steps in regulating safety-critical components within commercial vehicles and passenger vehicles, which has resulted in a rising demand for automotive drum brakes. For instance, as per Ministry of Road Transport and Highways (Government of India) website, the Government of India is deeply concerned about the growth in the number of road accidents, injuries and fatalities in 2020, 2021, and 2022. It recognizes that road accidents have now become a major public health issue, and the victims are mainly the poor and vulnerable road users. Further, the government is taking steps to ensure that safety features are built in at the stage of design, manufacture, usage, operation and maintenance of both motorized and non-motorized vehicles in line with international standards and practices in order to minimize adverse safety and environmental effects of vehicle operation on road users (including pedestrians and bicyclists) and infrastructure.
Market Restraints and Challenges
Compared to drum brakes, drum brakes are quite new and more advanced. They offer quite a high braking power for their size as well. Even small-size drum brakes offer quite a large braking power and can stop high-speed vehicles better than a drum brake can. As the drum brakes are open, they have good heat dissipation, ensuring they never overheat. Again, being open, they retain no unwanted material and thus don’t fall to rusting or performance degradation. Therefore, the increase in the adoption of drum brakes due to above mentioned factors may hinder the growth of the global automotive drum brake market.
Buy Now : https://www.globalinsightservices.com/checkout/single_user/GIS23223
Global Automotive Drum Brake Market Segmentation
By Product Type
- Leading Trailing Shoe Brake
- Two Leading Shoe Brake
- Servo Brake
By Braking Type
- Normal Braking
- Automatic Self-adjustment
- Emergency Braking
Major Players in the Global Automotive Drum Brake Market
The key players studied in the global automotive drum brake market are AISIN CORPORATION (Hosei Brake Industry Co., Ltd.) [Japan], Akebono Brake Industry Co., Ltd. (Japan), Brembo S.p.A. (Italy), Continental AG (Germany), Haldex Group (Sweden), HELLA GmbH & Co. KGaA (Germany), Hyundai Mobis (South Korea), Knorr-Bremse AG (Germany), Mando Corporation (South Korea), and TRW Automotive (US).
COVID-19 Impact
In 2020, due to the COVID-19 pandemic, global automobile manufacturers and suppliers faced a massive shortage of drum brakes. Due to mass lockdowns, travel bans, and business shutdowns, the COVID-19 pandemic had affected major economies and countless industries in various countries. The imposition of lockdown had resulted in a decline in production and service activities. The COVID-19 pandemic impact on the automotive sector had led to the shutting down of assembly plants, a slowdown in manufacturing processes, and disruptions in the supply chain. These resulted in a significant drop in vehicle sales in early 2020. Due to all these factors, the COVID-19 pandemic negatively impacted the global automotive drum brake market.
Request For Customization : https://www.globalinsightservices.com/request-customization/GIS23223
With Global Insight Services, you receive:
• 10-year forecast to help you make strategic decisions
• In-depth segmentation which can be customized as per your requirements
• Free consultation with lead analyst of the report
• Excel data pack included with all report purchases
• Robust and transparent research methodology
About Global Insight Services:
Global Insight Services (GIS) is a leading multi-industry market research firm headquartered in Delaware, US. We are committed to providing our clients with highest quality data, analysis, and tools to meet all their market research needs. With GIS, you can be assured of the quality of the deliverables, robust & transparent research methodology, and superior service.
Contact Us:
Global Insight Services LLC
16192, Coastal Highway, Lewes DE 19958
E-mail: [email protected]
Phone: +1-833-761-1700
Website: https://www.globalinsightservices.com/