Automotive Brake Shoe Market to Grow with a CAGR of 7.07% Globally Through to 2028
Rising Global Vehicle
Production and Sales, Technological Advancements in Brake Systems are factors
driving the Global Automotive Brake Shoe market in the forecast period
2024-2028.
According
to TechSci Research report, “Global Automotive Brake Shoe Market - Industry
Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the
Global Automotive Brake Shoe Market stood at USD 7.5 billion in 2022 and is
anticipated to grow with a CAGR of 7.07% in the forecast period, 2024-2028. A curved metal component of a car's
braking system is called a brake shoe. The brake lining is carried within the
brake drum systems. There is a friction material integrated into this metal
that is set aside. When an automobile brakes, the brake shoe is positioned
inside the drum, forcing the brake shoe to move and pressing the outside lining
against the inside of the drum. The braking effort is then produced by the
friction between the lining and the drum; here, the energy is lost as heat. The
vehicle's brake is primarily affected by the brake shoes. Brake shoes and brake
pads are not the same even though they serve the same purpose.
Browse over
market data Figures spread through 180 Pages and an in-depth TOC on
"Global Automotive Brake Shoe Market.”
The global
automotive brake shoe market, a critical segment within the broader automotive
industry, is undergoing a profound transformation shaped by technological
advancements, sustainability imperatives, evolving market dynamics, the
influence of electric vehicles, and the integration of digital technologies.
These key trends are not only reshaping the composition and design of brake
shoes but also influencing the strategies of manufacturers, suppliers, and
stakeholders across the supply chain.
One of the
pivotal trends defining the automotive brake shoe market is the continuous
evolution in materials and design driven by technological advancements. Brake
shoes, traditionally composed of cast iron, are witnessing a shift towards
advanced materials, including lightweight composites. The adoption of composite
materials, with their reduced weight, improved thermal stability, and enhanced
wear resistance, aligns with the broader industry trend of vehicle
lightweighting. Brake shoe manufacturers are investing in research and
development to optimize these materials, employing advanced engineering
techniques such as computer-aided design (CAD) and finite element analysis
(FEA) to enhance structural integrity and performance.
Simultaneously,
the industry is witnessing a broader shift towards sustainable and
environmentally friendly brake solutions. With an increasing focus on reducing
the environmental impact of vehicles, brake shoe manufacturers are exploring
eco-friendly materials and manufacturing processes. Sustainable friction
materials reduced heavy metal content, and materials conducive to recyclability
are gaining prominence. Brake shoe manufacturers are positioning themselves as
contributors to a circular economy by ensuring that their products are not only
effective but also environmentally responsible throughout their lifecycle.
The rise of
electric and hybrid vehicles constitutes a transformative trend with
far-reaching implications for the global automotive brake shoe market. As these
alternative propulsion systems become more prevalent, traditional braking
systems are evolving to accommodate regenerative braking technologies. This
shift alters the dynamics of brake shoe design and requirements, challenging
manufacturers to adapt to the reduced wear characteristics associated with
regenerative braking. Brake shoe manufacturers must stay at the forefront of
technological advancements to cater to the unique needs of electric and hybrid
vehicles, collaborating with manufacturers in the electric vehicle space to
navigate the changing landscape successfully.
Furthermore, the
digitalization of automotive systems is reshaping braking technologies,
influencing the design of brake shoes. Advanced driver assistance systems
(ADAS), electronic stability control (ESC), and digital braking technologies
are becoming integral to modern vehicles. This necessitates brake shoe
manufacturers to develop products compatible with electronic systems and
sensors. Brake shoes are no longer solely mechanical components but are
evolving into smart solutions that contribute to overall vehicle safety and
efficiency. The integration of sensors and electronic components into brake
systems opens avenues for predictive maintenance solutions, with brake shoes
providing real-time data on wear and performance.
As the
automotive industry continues to expand globally, strategic alliances and
collaborations have emerged as significant trends in the brake shoe market.
Manufacturers are forming partnerships, engaging in mergers, and seeking
acquisitions to strengthen their market presence, access new technologies, and
achieve economies of scale. Global expansion involves not only reaching new
markets but also navigating diverse regulatory landscapes, adapting products to
meet regional preferences, and establishing localized production facilities.
The collaborative ecosystem of the automotive industry becomes pivotal as brake
shoe manufacturers actively participate in partnerships with automotive OEMs
and other stakeholders in the supply chain to align their product development
with industry trends and customer demands.
In conclusion,
the global automotive brake shoe market is navigating a landscape defined by
innovation, sustainability, electric vehicle proliferation, digitalization, and
global expansion. Brake shoe manufacturers are at the forefront of these
transformative trends, redefining their products to align with the evolving
needs of the automotive industry. As vehicles become more complex,
environmentally conscious, and digitally integrated, the role of brake shoes
extends beyond mere components to critical elements that contribute to the
safety, efficiency, and sustainability of the modern automotive ecosystem.
Brake shoe manufacturers must continue to innovate, collaborate, and adapt to
stay competitive in a market undergoing rapid and profound changes.
Major companies
operating in Global Automotive Brake Shoe Market are:
- Bosch
Auto Parts
- Meritor,
Inc
- Brake
Parts In7’c. LLC
- ASK
Automotive Pvt. Ltd.
- TRW
Automotive
- BNA
Automotive India Pvt Ltd
- ACDelco
- MAT
Holdings Inc
- Kampol
Company
- SBS
Friction A/S
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“The
global automotive brake shoe market is undergoing a paradigm shift, driven by
technological advancements, sustainability demands, and the rise of electric
vehicles. Manufacturers are embracing innovative materials, including
lightweight composites, to enhance performance while adhering to eco-friendly
practices. The integration of digital technologies, such as smart braking
systems, is reshaping traditional components, making brake shoes integral to
advanced driver assistance systems. The market is also witnessing strategic
alliances and global expansions, reflecting the industry's response to evolving
dynamics. As the automotive landscape transforms, the brake shoe market emerges
not only as a component crucial for vehicle safety but as a key player in
shaping the future of efficient, sustainable, and digitally integrated braking
systems.” said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based management consulting firm.
“Automotive Brake Shoe Market– Global
Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Vehicle
Type (Passenger cars, LCV, HCV), By Type (Leading/Trailing, Twin Leading, Duo
Servo), By Sales Channel (OEM, Aftermarket),By Region, Competition, 2018-2028”,
has evaluated the future growth potential of Global Automotive Brake Shoe Market
and provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Automotive Brake Shoe Market.
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