New York, The global Automotive Brake Shims Market was valued at US$ 0.5 billion in 2021 and it is anticipated to grow up to US$ 0.8 billion by 2031, at a CAGR of 3.7% during the forecast period.
Global automotive brake shims report from Global Insight Services is the single authoritative source of intelligence on automotive brake shims 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.
Automotive brake shims are used in the disc brakes system to control the excessive noise generated by the disc to stop the movement of the wheel hub. Automotive brake shims are used in all vehicles, including two-wheelers, cars, and commercial vehicles. An automotive disc brake can be installed front, rear, or both sides in wheel hubs. Automotive brake shims are designed to provide a multifunction noise control system and act as a component attached to the friction pad backing plate.
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Market Drivers and Trends
The trend of urbanization is growing rapidly, increasing the average disposable income of the urban population and allowing people to enhance their lifestyles. The transformed lifestyles further boost the demand for passenger cars, thus, propelling the manufacturers to uplift their production to fulfill customers’ requirements. Production of vehicles, including passenger cars and commercial vehicles, registered steady growth in developed and developing economies in the post-recession era since 2010. Lowered interest rates on loans have also favored the growth of the automobile industry.
In the past few years, consumer behavior toward intercity and intracity transit has changed. With an increase in the disposable income of individuals and the stable economic structure of countries, the production of vehicles has been boosted exponentially. With the rising demand for cars globally, car production has increased, creating the requirement for automotive brake shims, thereby increasing the growth in the global automotive brake shims market.
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Global Automotive Brake Shims Market Segmentation
By Material Type
- Rubber Coated
- PSA Material
- Thermoset Material
- Others
By Application
- Two-Wheeler
- Passenger Vehicle
- Commercial Vehicle
Key Players
- Avery Dennison Corporation (US)
- Brake Performance (US)
- Brembo S.p.A. (Italy)
- Delphi Technologies (UK)
- Meneta (Denmark)
- Nucap Industries Inc. (Canada)
- Robert Bosch LLC (Germany)
- Super Circle Auto Limited (India)
- TMD Friction Services GmbH (Germany)
- Trelleborg AB (Sweden)
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