The Automotive Brakes And Clutches Global Market Report 2023 by The Business Research Company, provides automotive brakes and clutches market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-yearforecast period – 2023-2032.
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According to The Business Research Company’s Automotive Brakes And Clutches Global Market Report 2023, the market size is expected to grow from $24.49 billion in 2022 to $26.4 billion in 2023 at a compound annual growth rate (CAGR) of 7.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global automotive brakes and clutches is expected to grow to $33.53 billion in 2027 at a CAGR of 6.2%.
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.
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The automotive brakes and clutches market is segmented:
1) By Product: Original Equipment Manufacturer (OEM), After Market
2) By Clutch Type: Friction Clutch, Dog Clutch, Hydraulic Clutch, Other Clutch Types
3) By Transmission Type: Manual Transmission, Automatic Transmission, Automated Manual Transmission (AMT), Other Transmission Types
4) By Application: Passenger Car, Commercial Vehicle
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.
The automotive brakes and clutches market report table of contents includes:
1. Executive Summary
2. Automotive Brakes And Clutches Market Characteristics
3. Automotive Brakes And Clutches Market Trends And Strategies
4. Automotive Brakes And Clutches Market – Macro Economic Scenario
5. COVID-19 Impact On Automotive Brakes And Clutches Market
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26. Africa Automotive Brakes And Clutches Market
27. Automotive Brakes And Clutches Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Automotive Brakes And Clutches Market
29. Automotive Brakes And Clutches Market Future Outlook and Potential Analysis
30. Appendix
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