Ageing two wheeler fleet, increasing government regulations, and growing production and sales of two-wheelers to drive global two wheeler brake component market through 2024
According to TechSci Research report, “Global Two Wheeler Brake Component Market by Product Type, By Vehicle Type, By Sales Channel, By Region, Competition, Forecast & Opportunities, 2014-2024”, global two-wheeler brake component market is projected to grow at a CAGR of over 9% during 2019-2024, owing to increasing demand for two wheelers, especially in emerging markets. Moreover, growing demand for higher capacity two wheelers, backed by increasing focus on rider’s safety is further propelling growth of global two wheeler brake component market. Moreover, emergence of latest technologies, such as anti-lock braking systems (ABS), Combined braking system (CBS) is compelling component manufacturers to develop braking system compatible products in a bid to remain in alignment with the current novelties in braking technology.
market data Figures spread through 110 Pages and an in-depth TOC on“Global
Two Wheeler Brake Component Market”
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Global two wheeler brake component market can be segmented based on
vehicle type, product type and sales channel. Scooter/Moped is the dominant
segment in global two wheeler brake component market, owing to their high
production and sales volume, especially in developing nations such as China,
India, Indonesia, etc. In terms of product type, the market can be segmented
into brake caliper, brake shoe, and brake pad. Increasing use of disc brakes in
front and rear braking applications of motorcycles is driving the brake pad and
brake caliper segments. Among component, replacement accounts for the major
share in global two wheeler brake component market and is expected to maintain
its dominating position during forecast period as well.
Brembo S.p.A., Akebono Brake Industry Co., Ltd, Nissin Kogyo Co., Ltd., Bosch Limited, AC Delco, etc., are the leading players operating in global two wheeler brake component market. Companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their market penetration. With increasing stringency in safety norms every year, two-wheeler manufacturers are focusing on two wheeler with braking aids, such as Anti-Lock Braking System (ABS) And Combi Brake Component (CBS).
“Asia-Pacific accounts for the majority share in global two wheeler
brake component market on account of increasing sales of higher capacity
motorcycles in emerging markets such as India and China. Moreover, government
initiatives for two wheeler production in economies such as India, which is the
largest two wheeler market, are further boosting the growth of two-wheeler brake
component market in Asia-Pacific.” said Mr. Karan Chechi, Research Director
with TechSci Research, a research based global management consulting firm.
“Global Two Wheeler Brake Component Market by
Product Type, By Vehicle Type, By Sales Channel, By Region, Competition,
Forecast & Opportunities, 2014-2024” has evaluated the future growth potential of two
wheeler brake component market 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 two-wheeler
brake component market.