Automotive Brakes And Clutches Global Market Report 2022
Sep 14, 2022
Major players in the automotive brakes and clutches market are F. C. C. Co. Ltd, BorgWarner, NSK. Com, Valeo Service, Bosch Limited, Brembo SpA, Continental AG, ZF Friedrichshafen AG, Marelli (Magneti Marelli CK Holdings Co.
September 14, 2022 04:25 ET
New York, Sept. 14, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Automotive Brakes And Clutches Global Market Report 2022" - https://www.reportlinker.com/p06319514/?utm_source=GNW
Ltd.), Exedy Corporation, Eaton Corporation, and Aisin Seiki Co. Ltd. The global automotive brakes and clutches market is expected to grow from $22.30 billion in 2021 to $24.09 billion in 2022 at a compound annual growth rate (CAGR) of 8%. The automotive brakes and clutches market is expected to grow to $28.80 billion in 2026 at a CAGR of 4.6%. The automotive brakes and clutches market consists of sales of automotive brakes and clutches by entities (organizations, sole traders, partnerships) that are used to change the rotational speed of rotating tires of vehicles.A clutch refers to a transmission and control device that helps with energy transfer from the driver to the driven shaft. A brake refers to a transmission and control device that stops a moving load and regulates movement. Automotive brakes and clutches help in the effective control of vehicles. The main types of products in the automotive brakes and clutch markets are original equipment manufacturer (OEM) and aftermarket.The original equipment manufacturer refers to the manufacture of systems or components that are used in another company’s end product. These automotive components are the official, genuine parts produced directly by your vehicle’s maker.The various clutch types include friction clutch, dog clutch, hydraulic clutch, and others, and involve several transmission types such as manual transmission, automatic transmission, and automated manual transmission (AMT), among others. The several applications include passenger cars and commercial vehicles. North America was the largest region in the automotive brakes and clutches market in 2021. The regions covered in the automotive brakes and clutches market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The automotive brakes and clutches market research report is one of a series of new reports that provides automotive brakes and clutches market statistics, including automotive brakes and clutches industry global market size, regional shares, competitors with an automotive brakes and clutches market share, detailed automotive brakes and clutches market segments, market trends and opportunities, and any further data you may need to thrive in the automotive brakes and clutches industry. This automotive brakes and clutches market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The thriving automotive industry is expected to propel the growth of the automotive brakes and clutches market going forward.The automotive industry refers to all business activities involved in the production of automobiles, including most components such as engines, bodywork, tires, and batteries. Raising the automotive industry will increase the demand for automotive brakes and clutches as these are the essential parts of vehicles.For instance, according to the Economic Times of India, an India-based daily news provider, in 2020, automobile sales in India register double-digit growth. Vehicle registrations with regional transport offices (RTO) rose 37% to 1,627,975 units.Retail sales of passenger vehicles grew by 12% to 264,342 units for the year 2020. Therefore, the thriving automotive industry is driving the growth of the automotive brakes and clutches market. Technological innovations have emerged as the key trend gaining popularity in the automotive brakes and clutches market.Major companies operating in the automotive brakes and clutches sector are focused on introducing new technological innovations to sustain their position in the market. For instance, in 2021, Maruthi Suzuki, an India-based vehicle manufacturer, developed ""S-Assist,"" an AI (Artificial Intelligence)-based 24-hour virtual car assistant app for Nexa model cars. This AI technology is utilized in automobiles to assist drivers in maintaining safe driving by automatically applying brakes when an object ahead is detected. In November 2021, BREMBO S.P., an Italy-based automotive brake system manufacturing company, acquired J. Juan for a deal amount of $73 million. This acquisition would help Brembo to extend its business in new markets and to become a trusted solution provider. J. Juan is a Spain-based company specializing in designing the braking performance in top-tier bikes all over the world. The countries covered in the automotive brakes and clutches market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.