US Auto Brake Pads, Shoes & Lining Market to witness highest growth in OTR Vehicles till 2021
Booming economy, construction and infrastructure
activities, coupled with growing light commercial vehicle segment fleet size to
drive United States brake pads, shoes and linings market
According
to TechSci Research report, “US
Automotive Brake Pads, Shoes & Lining Market, By Vehicle Type,
By Demand Category, By Brake Type Competition Forecast &
Opportunities, 2011-2021”, US automotive brake pads, shoes & linings market
is projected to grow at a CAGR of over 4% during 2016-2021,
on account of increasing emphasis on raising vehicle safety standards coupled
with growing production as well as sales of vehicles. Moreover, increasing demand
for improved performance, safety and functionality at reasonable prices is
further anticipated to positively influence the automotive brake pads, shoes &
linings market in the US during 2016-2021.
Browse 7
market data Tables and 35 Figures spread through 136 Pages and an
in-depth TOC on "United
States Automotive Brake Pads, Shoes & Linings Market"
https://www.techsciresearch.com/report/us-automotive-brake-pads-shoes-and-linings-market-by-vehicle-type-passenger-car-lcv-m-hcv-etc-by-demand-category-oem-vs-replacement-by-brake-type-brake-pads-shoes-etc-competition-forecast-and-opportunities-2011-2021/740.html
Automotive
industry in the United States accounted for almost 3% of the country’s GDP in 2015.
United States
has 48 manufacturing facilities of 13 major automobile companies including
Ford, General Motors, Toyota, Nissan, Hyundai, Kia, Mitsubishi, etc., located
in 39 cities across 14 states. In addition to booming automotive industry, the government’s spending on
construction industry in the United States grew at a CAGR of over 8% during
2011-2015 on account of large number of ongoing infrastructural and
construction projects in the country. Hence, with the presence of multiple
automotive manufacturing facilities coupled with growing sales of light
commercial vehicles and OTRs, the demand for automotive
brake pads, shoes & linings in the US is expected to increase over the next
five years.
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“Among brake pads, shoes and linings, brake
pads accounted for the largest share in the United States automotive brake
pads, shoes & linings market in 2015, and the segment is anticipated to
maintain its dominance over the next five years as well. In 2015, the United
States automotive brake pads, shoes & linings market was dominated by
passenger car segment, followed by light commercial vehicle segment. In the
United States, majority of the demand for automotive brake pads, shoes &
linings was generated in the replacement market in 2015.”, said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“US
Automotive Brake Pads, Shoes & Linings Market Forecast and Opportunities,
2021’’
has evaluated the future growth potential of United
States automotive brake pads, shoes & linings market and provides statistics and information on market structure,
policies and regulations in the United States automotive brake pads, shoes
& linings market. The report is intended to provide cutting-edge market
intelligence and help decision makers take sound investment evaluation.
Besides, the report also identifies and analyses emerging trends along with
essential drivers, challenges and opportunities available in United States
automotive brake pads, shoes & linings market.
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