Market Research Report
Global Two Wheeler Brake Component Market by Product Type (Brake Shoe, Brake Pad & Brake Caliper), By Vehicle Type (Scooter/Moped & Motorcycle), By Sales Channel (Replacement and OEM), By Region, Competition, Forecast & Opportunities, 2014-2024
|Published by||TechSci Research||Product code||882248|
|Published||Content info||110 Pages
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|Global Two Wheeler Brake Component Market by Product Type (Brake Shoe, Brake Pad & Brake Caliper), By Vehicle Type (Scooter/Moped & Motorcycle), By Sales Channel (Replacement and OEM), By Region, Competition, Forecast & Opportunities, 2014-2024|
|Published: July 1, 2019||Content info: 110 Pages||
Global two-wheeler brake component market stood at $ 6 billion in 2018 and is projected to reach $ 10.5 billion by 2024, growing at a CAGR of over 9%. Anticipated growth in the market can be attributed to increasing demand for two-wheelers in developing nations. Moreover, stringent government regulations and mandates with reference to two-wheeler safety, in addition to government initiatives in economies such as China and India aimed to promote two-wheeler safety is further driving global two-wheeler brake component market. The main function of a brake component is to reduce the speed and stop the vehicle along with rider control. Two-wheeler braking components, such as brake caliper, brake shoe, and brake pad, are responsible for producing the braking effect in vehicles. Emergence of anti-lock braking systems (ABS), Combined braking system (CBS) and other technological advancements have gained popularity in the last few years, which is further driving demand for brake components.
Global two-wheeler brake component market can be categorized based on vehicle type, product type, sales channel and region. Disc and drum are two major brakes used in two- wheelers. In terms of product type, the market for two-wheeler brake component can be segmented into brake caliper, brake shoe, and brake pad. Disc brake pad segment is expected to grow at a significant rate during forecast period owing to their high preference and demand in 125cc and above segment. In terms of vehicle type, Scooter/Moped is the largest segment and is likely to continue its dominance during the forecast period as well, on the back of their high demand in emerging nations such as China, India, Indonesia among others.
Globally, two-wheeler brake component market is gaining traction and expanding to various regions including Asia-Pacific, South America, Europe, North America and Middle East & Africa. Asia-Pacific dominates global two-wheeler brake component market owing to rising two-wheeler production in economies such as India, China, Indonesia and Philippines.
Major players operating in global two-wheeler brake component market include Brembo S.p.A., Akebono Brake Industry Co., Ltd, Nissin Kogyo Co., Ltd., Bosch Limited, AC Delco, etc. Major companies are developing advanced technologies and launching new products in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments.
Some of the leading players operating in global two-wheeler brake component market are Brembo S.p.A., Akebono Brake Industry Co., Ltd, Nissin Kogyo Co., Ltd., Bosch Limited, AC Delco, Brake Parts Inc. Endurance Technologies Limited, etc.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed manufacturers, distribution channels and presence of all major manufacturers across the globe.
TechSci Research calculated global two-wheeler brake component market size using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as manufacturers, partners and end users. The report also provides useful insights about which market segments should be targeted over the coming years in order to strategize investments and capitalize on growth opportunities.
In this report, global two-wheeler brake component market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Company Profiles: Detailed analysis of the major companies present in global two-wheeler brake component market.
With the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Detailed analysis and profiling of additional market players (up to five).
(Note: The companies list can be customized based on the client requirements.)