Automotive Brake Pedal Rubber Market to be dominated by Passenger Car segment till 2026
Rise in the youth population
and increasing vehicle ownership is expected to drive the demand of the global
automotive brake pedal rubber market for the forecast period.
According to TechSci Research report, “Automotive
Brake Pedal Rubber Market - Global Industry Size, Share, Trends,
Opportunity and Forecast, 2016-2026, Segmented By Vehicle Type (Passenger Car, Light
Commercial Vehicle, Medium & Heavy Commercial Vehicle, OTR), By Demand
Category (OEM vs Replacement) and By Region”, the global automotive brake pedal rubber market is
expected to witness a growth of steady CAGR for the forecast period, 2022-2026.
The automotive brake pedal is located below the automobile dashboard in the
driver seat of the automobile. The brake pedal plays a vital role in the
functioning of the vehicle actuator system, which is required to control the
brake, clutch, and accelerator of the vehicle. The automotive pedals are
integrated with the vehicle, and these are controlled by foot. The rubber is
used as an outer covering of the automotive brake pedal to protect the brake
pedal from wear and tear and ensure the proper functioning of the vehicle.
Market players are providing excellent after-sales service to the customer to
ensure high sales of the automotive brake pad rubber. The rise in the sales of
passenger cars, light, and heavy commercial vehicles is creating the demand for
manufacturing the automotive brake pad rubber market. The increase in
industrialization rate in the developing economies fuels the need for heavy
commercial vehicles to maintain the supply chain, which is expected to foster
the demand for the global automotive brake pad rubber market for the next five
years. Shift from the traditional metal pedals to lightweight pedals to lower
the weight of the pedal assembly, contributing to the reduction in the overall
weight and thereby increasing the fuel efficiency of the vehicle. Market
players are making technological advancements to increase the efficiency of
vehicles. The incorporation of electronic components to provide additional
features in the cars is fueling the sales of four-wheeled vehicles, which in
turn is expected to boost the global automotive brake pad rubber market.
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Global
automotive brake pedal rubber market is segmented into vehicle type, demand
category, regional distribution, and company. Based on the vehicle type, the
market is divided into passenger car, light commercial vehicles, medium &
heavy commercial vehicles, and OTR. The passenger car segment is expected to
hold the largest market share for the forecast period, 2022-2026. The shift in
the consumer preference for vehicle ownership over availing public transport
services is the key driving factor for the passenger car segment. High
production of passenger cars than commercial vehicles and the rapid
urbanization and rise in the disposable income of the consumers is expected to
boost the demand for passenger cars in the next five years.
Based
on the demand category, the market is bifurcated into OEM and replacement. The
replacement segment is expected to witness the fastest incremental growth for
the next five years. The low cost and the easy availability of automotive brake
pedal rubber at the nearby servicing centers are driving the market demand.
Brake pads are easy to install to directly replace the lost or damaged rubber
brake pad without external support. The rider can purchase the brake pad rubber
through online or offline channels and can conveniently replace the brake pad
rubber.
Hebei
Shida Seal Group Co., Ltd., Qingdao Protech Rubber & Plastic Co., Ltd.,
BOGE Elastmetall GmbH, Dorman Products, Inc., Kelpro, Inc. are the leading
players operating in global automotive brake pedal rubber market. Manufacturers are increasingly focusing
on research and development process to fuel higher growth in the market.
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“Market
players are making high-end investments for technological advancement of the
vehicles by increasing the performance and fuel efficiency of the vehicles,
which in increasing the sales of automobiles across the globe. The use of
online platforms by the market players to sell automotive brake pad rubber by
providing lucrative discounts and offer along with the facility of quick
dispatch and exchange to expand the product's consumer base is significantly
contributing to the market growth. Rising urbanization and formation of new
e-commerce and retail platforms requiring efficient logistics is expected to
propel the global automotive brake pad rubber market till 2026” said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Automotive
Brake Pedal Rubber Market - Global Industry Size, Share, Trends, Opportunity
and Forecast, 2016-2026, Segmented
By Vehicle Type (Passenger Car, Light Commercial Vehicle, Medium & Heavy
Commercial Vehicle, OTR), By Demand Category (OEM vs Replacement) and By Region”
has evaluated the future growth potential of global automotive brake
pedal rubber market and provided statistics & information on market size, shares,
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 the of global automotive brake
pedal rubber market.
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