The European region is the second largest market in terms of vehicle production across the globe. The production level has dropped in this region due to the financial crisis of 2009 which affected not only the complete region but also the major industries. Of which automotive industry was badly hit. But due to the improving economic condition, the region is anticipated to be back in positive growth in the coming years. The improving financial condition of the consumers’ has led to the increase in demand for vehicles in the region.
In the European region, Germany which is the largest automobile market is also the leader in brake market followed by Russia and France which is second and third. The growth for brakes market volume in European region is highest for Russia due to increasing demand for small and cheaper segment vehicles as well as performance cars which have boosted the growth of brakes. On the other hand the market value for France is growing at a very slow rate as compared to other countries in the region due to the slow economic growth but is currently on a recovery path.
Due to the high volume of passenger cars in the European region, the market for disc brakes is the highest for this segment of vehicle type, whereas the growth of disc brakes for LCVs in the region is higher as compared to other vehicle segments.
The European Brake market was valued at $5.02 billion in 2013, to grow at 5.5% annually. It is projected to reach $6.57 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 Europe brakes market?
- What are the trends based on the key countries of the region?
- Identification of market dynamics and impact of the same on Europe brakes market
- Analysis of recent developments, alliances, joint ventures, and mergers & acquisitions in the brakes market in European region
Audience for this report
- European 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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