Automotive Brake Band Market to be Dominated by Automatic Transmission (AT) through 2027
Increasing demand for automatic cars and fuel-efficient
vehicles is expected to drive the demand of global automotive brake band market
in the forecast period, 2023-2027.
According to TechSci Research report, “Automotive
Brake Band Market - Global Industry Size, Share, Trends, Opportunity, and
Forecast, 2017-2027”, the global automotive brake band market is
anticipated to grow at a steady rate in the forecast period, 2023-2027. Increase
in sales of commercial vehicles and passenger cars and the high demand for
lightweight vehicles are the driving factors of the global automotive brake
band market.
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The global automotive brake band market is segmented by transmission
type, vehicle type, propulsion, demand category competitional landscape, and
regional distribution.
Based on the transmission type, the global automotive brake band market
is divided into automatic transmission (AT), automated manual transmission
(AMT), dual-clutch transmission (DCT), continuously variable transmission
(CVT), and others. The automatic transmission segment is expected to lead the
market in the forecast period, 2023-2027. Automatic transmission boosts the
convenience and comfort of the vehicle as it is easy to use and can make the
vehicle navigate through dense traffic smoothly.
Based on the vehicle type, the global automotive brake band market is
divided into passenger cars, LCV and M&HCV. The passenger car segment
followed closely by LCV is expected to hold the largest market share in the
forecast period. High sales of passenger cars due to the increasing purchasing
power of consumers are making the market players adopt measures amplifying the
comfort and convenience of customers. The introduction of passenger cars with
increased fuel mileage, lower fuel consumption, high seating capacity is
attracting several customers across the globe. The transmission system is
changing rapidly and has shifted from simple four automatic transmissions to
complex eight to nine automatic transmissions is expected to influence the
market demand.
Based on the propulsion, the global automotive brake band market is
divided into petrol/CNG, diesel, and electric, and hybrid. The electric and
hybrid segment is expected to witness the fastest incremental growth in the
forecast period. Growing awareness about the adverse effect of harmful carbon
emissions on the environment and supportive government policies in incentives,
income tax rebates influence market demand.
Based on the demand category, the global automotive brake band market is
bifurcated into OEM and replacement. The replacement segment is expected to
witness the growth of the highest CAGR in the forecast period. The aging
vehicle has an older transmission system, and with time the band requires
adjustments as they witness wear and tear. Market players diagnose the problem
by checking whether the band requires band adjustment and provide solutions
accordingly. Replacing the brake band is preferred as they play a crucial role
in maintaining its efficiency and performance. The developing automotive
industry and the need to get optimum vehicle performance is expected to fuel
the growth of the replacement brake band segment.
Based on the regional analysis, the Asia-pacific region is dominating
the market and is expected to maintain its dominance throughout the forecast
period. The high population density in the region and the improved purchasing
power of consumers are boosting the sales of automobiles. Availability of cheap
labor and government incentives to support the manufacturing industry are
expected to fuel the market demand in the region. The concentration of major
market players in countries like South Korea, China, and Japan and the intense
competition among them are expected to create market growth opportunities in
the forecast period.
Major market players operating in global automotive brake band market
are:
·
Continental AG
·
Robert Bosch GmbH
·
Knott Brake Co
·
Cook Bonding & Manufacturing Co., Inc.
·
Phoenix Friction Products
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“Automotive brake band players are using cutting-edge
technologies to advance the existing system to smoothen the transmission and
increase fuel efficiency. Novel automatic transmission system containing
solenoid, computer, sensors, and the surge in the use of technologies like
TEHCM which combine the transmission control module, valve solenoid, merge the
temperature and pressure unit into one is expected to fuel the market demand
for next five years. With the manufacturing of sophisticated components in
automobiles and smoothening the gear shifting process to enhance the driving
experience, the global automotive brake band market is expected to propel the
global automotive brake band market growth till 2027” said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
“Automotive
Brake Band Market - Global Industry Size, Share, Trends, Opportunity and
Forecast, 2017-2027”, has
evaluated the future growth potential of global automotive brake band and
provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in global automotive brake band market.
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