Europe Automotive Brake Shims Market
The rising passenger and commercial vehicle sales are fostering the automotive brake shims market growth. As the demand for vehicles increases, the interest of regulatory bodies in rolling out necessary regulatory mandates for ensuring vehicle safety is also rising. Moreover, fatalities caused due to vehicle accidents are encouraging government bodies to introduce new norms for vehicles and road safety. As a poor braking system is one of the key causes of road accidents, establishing proper norms for using friction materials and braking systems is necessary. Since November 2016, the replacement of brake discs on newly registered vehicles should comply with the ECE R90 (i.e., ECE Regulation 90 or Economic Commission for Europe Regulation 90) quality standard. This quality standard is implemented across the European Union and in non-European countries. Since November 1, 2016, all passenger cars of every model have ECE R90 brake discs and drums. Companies such as MEYLE provides brake discs that already comply with the new standard. Similarly, ZF Aftermarket is also producing with new ECE R90.
With new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Europe automotive brake shims market at a substantial CAGR during the forecast period.
Strategic insights for the Europe Automotive Brake Shims provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 138.24 Million |
| Market Size by 2028 | US$ 183.33 Million |
| Global CAGR (2021 - 2028) | 4.1% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Material Type
|
| Regions and Countries Covered | Europe
|
| Market leaders and key company profiles |
The geographic scope of the Europe Automotive Brake Shims refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
Europe Automotive Brake Shims Market Segmentation
The Europe 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 the largest share of the market,; and it is also expected to register a higher the highest CAGR during the forecast period. Based on application, the Europe 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 of the market in this region; and it is also expected to register the highest CAGR in the market during the forecast period. Based on country, the Europe automotive brake shims market is segmented into Germany, France, Italy, the UK, Russia, and Rest of Europe. In 2020, Germany held the largest market share; and France is expected to grow at the fastest CAGR during the forecast period.
Avery Dennison Corporation, Brembo S.p.A., BOSCH Auto Parts, Trelleborg Group, Meneta, Super Circle, NUCAP, Delphi Technologies Plc., and TEXTAR Brake Technology are among the leading companies in the Europe automotive brake shims market.
The Europe Automotive Brake Shims Market is valued at US$ 138.24 Million in 2021, it is projected to reach US$ 183.33 Million by 2028.
As per our report Europe Automotive Brake Shims Market, the market size is valued at US$ 138.24 Million in 2021, projecting it to reach US$ 183.33 Million by 2028. This translates to a CAGR of approximately 4.1% during the forecast period.
The Europe Automotive Brake Shims Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Automotive Brake Shims Market report:
The Europe Automotive Brake Shims Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Automotive Brake Shims Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Automotive Brake Shims Market value chain can benefit from the information contained in a comprehensive market report.
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