The global two wheeler brakes market is expected to rise owing to increasing demand two wheelers across the globes. Fortune Business Insights, in its latest report, titled “Two Wheeler Brakes Market Size, Share & Industry Analysis, By Type (Drum, Disc), By Driven Type (Electronically Driven, Non-electric), By Friction Products (Disc Pad, Rotor, Drum, Brake Shoe, Brake Lining) Others and Regional Forecast, 2019-2026.”, reports promising growth for the market during the forecast period. This is ascribable to factors such as rapid urbanization and increasing number of women users.
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A brake is vital component of an automotive that reduces the speed of the vehicle and prevents it from further movement when applied. There are several types of brakes such as rim, drum and disc brakes. With years and development in technology, the brakes have evolved providing extra safety and comfort to the rider. For instance, the introduction of anti-lock braking system (ABS) changed the braking industry largely. ABS operates by preventing the two wheeler from locking down during urgent braking, thereby maintaining traction between the wheel and road surface. A typical two wheeler consist of two brakes that is located at the front and rear side of the vehicle.
What does the Report Include?
The market report includes a detailed assessment of the various market drivers and restraints, opportunities, and challenges that the market will face during the projected horizon. Furthermore, the report provides comprehensive research into the regional developments of the market, affecting the market growth during the forecast period. Moreover, the report includes information sourced from the advice of expert professionals from the industry by our research analyst using several research methodologies for the market. The competitive landscape offers further detailed insights into the strategies such as product launches, partnerships, merger and acquisition, and collaborations adopted by the companies to maintain market stronghold between 2019 and 2026.
Drivers and Restraints:
Increasing Demand for Product to Stimulate Growth
Rapid Urbanization along with increasing disposable income has propelled the demand for two wheeler across the globe. In addition to this, increasing adoption by working women and affordability of two wheelers is likely to drive the growth of the market during the forecast period. The companies operating in the market are introducing new products that to cate to the increasing demands that will contribute to the growth of the market in the forthcoming years. For instance, In April 2020, TVS Motor Company launched the BS6-complaint version of Radeon for the Indian market. The new two wheeler consist of drum brakes for its base model, while having disc brakes as an alternative too. Additionally, the bike comes with the synchronized braking technology (SBT) that provides efficient braking control by activating both the front and rear brake in tandem.
Honda Resumes Partial Operations amid COVID-19
With the world economy in doldrums owing to the severe effect of the novel coronavirus, COVID-19 that has caused worldwide lockdown, the automotive industry has suffered the most. However, to get back the economy on track and provide support to the global cause to contain the spread of the disease, Honda Motorcycle & Scooter India Pvt, Ltd., in April 2020, announced partial resumption of operations. Strictly adhering to the guidelines of the Government of Kerala, they under essential services in the ongoing lockdown are ready to serve the customers.
High Disposable Income in Asia-Pacific to Drive the Market
Among the regions, Asia-Pacific is expected to remain dominant and gain high two wheeler brakes market revenue during the forecast period. This is ascribable to factors such as high disposable income and increasing demand for two-wheelers. North America, on the other hand, is likely to gain momentum during the forecast period. This is attributable to factors such as stringent regulations for driver and pedestrian in the region. Overall, in Europe the market will witness promising growth owing to efficient road infrastructures between 2019 and 2026.
Brembo S.p.A’s Development of New Break Pad to Bolster Growth
In September 2019, Brembo, an Italian automotive brake manufacturer, announced its development of a new break pad. According to the company, the break pad with over 60% of reduction in weight helps to eliminate calliper housing corrosion along with lowering thermal conductivity. Adoption of strategies such as product launches and development, collaboration, and merger and acquisition by the companies to gain maximum market share will contribute to the growth of the market during the forecast period.
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List of the Companies Operating in the Market:
- ZF Friedrichshafen AG
- Brembo S.p.A.
- EBC Brakes
- SBS Friction A/S
- Nisshinbo Holdings Inc.
- Tenneco Inc.
- Among others
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