North American region is the third largest region in the world for brakes. The region has been experiencing a rapid growth as compared to European region in terms of vehicle production due to favorable economic conditions prevailing in the region and positive government initiatives like increasing trade among the key countries in the region. These factors have been responsible in improving the economy as well as increasing the disposable income of the consumers. This in turn has increased the demand for better performance as well as luxury cars in the region.
Since drum brakes are much cheaper than the disc brakes, it is more preferable as it is affordable not only to the consumer but also for automobile manufacturers, but the changing road safety norms which have reduced the stopping distance for vehicles has forced manufacturers to slowly come up with more efficient disc brakes and hence, its market in the region has been on a high. These factors have led the North American region to become the second fastest growing region in terms of disc brakes market only after Asia-Pacific region.
U.S and Mexico are the key country markets for brakes in the North American region, which is mainly due to the increasing production levels in order to meet the growing demand from not only the domestic but also from the overseas market. Most of the brake manufactures have set up their production units in Mexico as it offers better work condition to increase their revenue by exporting. On the other hand Canada which is also a part of North America, has been on a slower growth as compared to other countries in the region as it is still recovering from the financial crisis of 2009 which hit the Canadian automobile industry. The production level has also dropped in the country but is slowly coming back to the pre-recession levels.
It constitutes 17.83% of the Global Brake market and is poised to grow its market share to 18.12% by the end of 2018.
The North American Brake market was valued at $3.69 billion in 2013, to grow at 7.5% annually. It is projected to reach $5.30 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 North American brakes market?
- What are the trends based on the key countries of the region?
- Identification of market dynamics and impact of the same on North American brakes market
- Analysis of recent developments, alliances, joint ventures, and mergers & acquisitions in the brakes market in North American region
Audience for this report
- North American 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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