PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1390088
PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1390088
The global drum brakes market is estimated to grow at a CAGR of 4.18% during the forecast period.
A drum brake is a type of brake that utilizes brake shoes or pads to create friction against a rotating brake drum for stopping or slowing down a vehicle. Drum brakes provide uniform braking force regardless of the vehicle's direction of travel owing to which such brakes are commonly employed as the rear brakes. The most common types of drum brakes are mechanical, hydraulic, and pneumatic-assisted. The drum brakes market growth is propelled by factors like the high production of vehicles and application in commercial and passenger vehicles.
The growth in vehicle production drives the drum brakes market growth.
The durability and reliability of drum brakes contribute to their demand, especially in emerging economies with increasing vehicle production and as the number of vehicles manufactured grows, there is a corresponding rise in the requirement for braking systems, including drum brakes. This is due to the recognized durability and reliability that drum brakes offer in meeting the braking needs of the expanding vehicle market, thereby expanding the drum brakes market size. According to the European Automobile Manufacturers Association, in 2022, global motor vehicle production reached 85.4 million units, reflecting a 5.7% increase compared to the previous year 2021.
The demand for drum brakes is driven by their widespread usage in commercial vehicles. The growth of the commercial vehicle sector, encompassing trucks, buses, and trailers, directly contributes to the increasing demand for drum brakes. Drum brakes offer better heat dissipation than disc brakes due to their larger surface area and such advantage is particularly beneficial for commercial vehicles that frequently face heavy loads and continuous braking. According to the Society of Indian Automobile Manufacturers (SIAM) report in 2023, commercial vehicle production in India increased from 8.05 lakhs in FY 2021-2022 to 10.35 lakhs in FY 2022-2023.
The increasing production of passenger vehicles is a key factor driving growth in the drum brake market, as the demand for passenger vehicles rises globally, so does the need for reliable and cost-effective braking systems. Drum brakes offer a viable solution, particularly in entry-level and mid-range vehicles, due to their durability and affordability. The growing drum brake industry in emerging economies, coupled with the aftermarket demand, further contributes to the expansion of the drum brake market. According to the International Organization of Motor Vehicle Manufacturers (OICA) in 2022, passenger car production in China increased from 21.4 million in 2021 to 23.83 million in 2022, which was an increase of 11.34%. According to the European Automobile Manufacturers Association, new commercial vehicle registrations of vans increased to 14.3%, wherein for trucks it increase by 23%, and buses by 18.5% in the first three quarters of 2023. Wherein the new car registrations accounted for a 9.2% increase in September 2023.
Asia Pacific region is expected to dominate the market.
The Asia Pacific region is poised to be a dominant force in the drum brake market due to the region's high vehicle production rates and extensive manufacturing capabilities which have contributed to the increased demand for drum brakes. Additionally, the abundant availability of resources, such as raw materials and skilled labor, further strengthens the market's growth potential in this region. According to the Census and Economic Information Centre (CEIC), motor vehicle production in India reached 5,456,857 units in December 2022, marking an increase from the previous figure of 4,399,112 units recorded in December 2021.
Shift toward disc brakes will restrain the drum brakes industry's growth.
The automotive industry has been experiencing a gradual transition towards disc brakes, primarily driven by the safety features they offer. Disc brakes are preferred in passenger cars and high-performance vehicles due to their stopping power and efficient heat dissipation. As a result, the growing demand for disc brakes poses a challenge to the growth of the drum brake market size. According to the Journal of Sustainable Development of Transport and Logistics, due to the implementation of discs the stopping distance, potentially reduced by up to 30%, and decrease the occurrence of high-speed rear-end collisions involving large trucks, with a potential reduction of approximately 43.2%.