The globalautomotive brake system marketis anticipated to witnessing a substantial growth due to fresh prospects of the automotive industry in emerging along with developing economies and increased safety concerns by the government. It was stated in the report that the overall growth of the market is expected to reach a market value of above US$ 25 Billion through 2022, exhibiting a strong 5.7% of CAGR throughout 2017-2022.
In modern cars mostly two kinds of brakes are used which are drum brakes and disc brakes. Every new car has disc brakes on the front wheels, whereas the rear wheels may possibly use whichever drum or disc brakes. Of these, the disc brakes category has a comparatively bigger share in the overall market during 2017 and will account for a market evaluation of US$14 Billion for the duration of the forecast 2017 to 2022. On the other hand, the expansion rate for the drum brakes segment will be on the climb in the approaching years.
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In terms of the sales channel, the worldwide market is categorized into ...