Automotive Brake Shims Market Industry Development Scenario and Forecast to 2028
This factor will become a driver for the automotive brake shims market in the forecast period.
[USPRwire, Tue Apr 30 2019] Automotive brake shims are used in disc brakes system for controlling the excess noise, generated by disc for stopping the movement of wheel hub. Automotive brake shims are used in all vehicles including two wheelers, cars and commercial vehicles. Automotive disc brake can be installed front side or rear side or both side in wheel hub. Automotive brake shims are designed for providing multifunction noise control system and also act as a component that is attached to the friction pad backing plate. Now a days, manufacturers are focusing on high quality brake shims that are made up of advanced technological material or various grades of metals such as viscoelastic polymers/bonding materials, elastomeric rubbers and fiberglass.
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Automotive brake shims market is on upward scale, due to demand for disc braking system that enhance the safety as well as driving experience. Growing demand for passenger cars coupled with increasing awareness toward safety are the reason behind accelerated demand for disc brakes in automobiles which in turn is expected to fuel the growth of automotive brake shims market. Increasing demand for implementing noiseless disc brakes in the premium segment vehicles as well as penetration of innovative technologies in the automobiles are some of the important factors for the growth of Automotive Brake Shims Market. Moreover, automotive brake shims are also sensitive enough for instant response. This factor is anticipated for the growth of the automotive brake shims market.
High initial and installation cost of automotive disc brake system in automobiles can act as a restraint for the sales of the automotive brake shims market. Moreover, rising prices of vehicles along with high cost incurred in design and testing is also estimated to hamper the growth of the said market in the future.
In current scenario, the addition of rear and front disc brakes system in the automobiles aids the sales of the automotive brake shims. With the increase in sales of sports vehicles, the demand for disc brake is also increasing which in turn, increases the OEM and aftermarket sales of automotive brake shims. This factor will become a driver for the automotive brake shims market in the forecast period.
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Among all regions, North America is expected to dominate the automotive brake shims market, owing to increasing demand for luxury vehicles in the U.S. and Canada. This factor is coupled with increasing installation of disc brakes in economic segment vehicles. These factors are estimated to boost the demand for automotive Brake Shims market in the upcoming years. Europe holds a prominent share for the automotive Brake Shims market due to large number of automobile manufacturers in the region. Similarly, Asia Pacific is also expected to contribute considerable share throughout the forecast period, owing to increasing disposable income of the middle class population with high living standard as well as increasing number of premium segments vehicle sales. Latin America, Middle East & Africa are projected to increase the demand of automobiles, owing to increasing urbanization and economic growth, which in turn is expected to accelerate the growth of automotive brake shims market during the forecast period.
Automotive Brake Shims Market: Market Participants
Examples of some of the market participants identified across the value chain of the global automotive Brake Shims market includes Avery Dennison Corporation, Trelleborg Sealing Solutions, Akebono Brake Corporation, Federal-Mogul Corporation, Util group, Yadong Industry Limited, Stanztechnik Schulte GmbH, Vibracoustic USA, Inc. Brickham Stamping Company, Inc.
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