The Asia-Pacific region is the leader in the brakes market with the largest vehicle production across the globe not only because of its large market for cheaper and smaller vehicles but also for the reason that most of the modern vehicles in this region coming with disc brakes in the front two wheels.
The automobile industry of Asia-Pacific is a cost related market which is the reason, most of the vehicles use drum brakes as it is cheaper than disc brakes and saves up the production cost of the brake manufacturers as well as the automobile manufacturers.
The market being concentrated with smaller and cheaper vehicles using drum brakes acts as a restraining factor for the disc brakes but this is slowly changing; China is gradually becoming the leader in disc brakes market due to its leadership in vehicles production in the entire region, followed by Japan which is the second largest market for disc brakes in the region. India ranks third in terms of disc brakes market. The growing economy of the region is one of the major factors responsible for attracting the major leaders of the disc brake manufacturers to set up their plants in these countries as they provide cheap labor and better working condition which saves up the production cost of the manufacturers.
It constitutes 50.41% of the Global Brake market and is poised to grow its market share to 51.94% by the end of 2018.
The Asia-Pacific Brake market was valued at $10.44 billion in 2013, and expected to grow at 7.8% annually. It is projected to reach $15.21 billion by the end of 2018.
It is segmented on the basis of applications and geography.
Key question answered
- What are the market estimates and forecasts for the Asia-Pacific brakes?
- What are the trends based on the key countries of the region?
- Identification of market dynamics and impact of the same on Asia-Pacific brakes market
- Analysis of recent developments, alliances, joint ventures, and mergers & acquisitions in the brakes market in Asia-Pacific region
Audience for this report
- Asia-Pacific Brake companies
- Suppliers for brakes manufacturers
- Traders, distributors, and suppliers in the brakes market
- Automobile associations
- Automotive industry as end user industry
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