Report : Asia Pacific Automotive Brake Shims Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Material Type (Rubber Coated, PSA Material, Thermoset Material, and Others) and Application (Two Wheeler, Passenger Vehicle, and Commercial Vehicle)
Passenger Vehicle is Expected to be the Fastest Growing Segment During the Forecast Period 2021–2028
According to a new market research study on “Asia Pacific Automotive Brake Shims Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Material and Application” the market is expected to reach US$ 333.23 million by 2028 from US$ 246.14 million in 2021. The market is estimated to grow at a CAGR of 4.4% from 2021 to 2028. The report provides trends prevailing in the Asia Pacific automotive brake shims market along with the drivers and restraints pertaining to the market growth. Fostering adoption of electric vehicles, progression in automotive brake technology, and heighten production of automotive vehicles are the major factor driving the growth of the Asia Pacific automotive brake shims market. However, confining copper in brake pad development hinders the growth of Asia Pacific automotive brake shims market.
The Asia Pacific automotive brake shims market is segmented on the basis of material, application, and country. Based on material, the market is segmented into rubber coated, PSA material, thermoset material, and others. In 2020, the others segment held a larger share of the market; and it is also expected to register a higher CAGR during the forecast period. Based on application, the Asia Pacific automotive brake shims market is segmented into two wheeler, passenger vehicle, and commercial vehicle. In 2020, the passenger vehicle segment held the largest market share; and it is also expected to register the highest CAGR in the market during the forecast period. Based on country, the Asia Pacific automotive brake shims market is segmented into Australia, China, India, Japan, South Korea, and Rest of APAC. In 2020, China held the largest market share; and India is expected to grow at the fastest CAGR during the forecast period.
Avery Dennison Corporation, Brembo S.p.A., BOSCH Auto Parts, Trelleborg Group, Super Circle, Delphi Technologies Plc., NUCAP, Meneta, and TEXTAR Brake Technology are among some of the leading companies in the Asia Pacific automotive brake shims market. For instance, TMD Friction, parent company of Textar has released 825 new products to its whole product line. This step allows TMD Friction to offer largest coverage of all brake friction manufacturers.
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