global automotive brake band market is anticipated to witness a growth of steady CAGR in the forecast period, 2023-2027. The flourishing automotive industry, entry of new market players, and the ongoing technological advancements to upgrade the existing infrastructure are driving the growth of the global automotive brake band market.
Automotive brake bands are flexible steel plates with organic or semi-metallic friction material. Heat dissipation is achieved by absorbing transmission fluid by the lining. Automotive transmission fluid flows into grooves and cuts into the band’s surface when the band tightens around the drum to cool down the fluid, bringing the drum to stop. Automotive brake bands are either single or double wrapped. Double wrapped brake bands require less hydraulic force and have more clamping force to achieve the same stopping power as the single band.
Browse over XX market data Figures spread through 110 Pages and an in-depth TOC on "Global Automotive Brake Band Market"
Need To Achieve Optimum Performance of Automobiles Supports Market Growth
The rise in the disposable income of the consumers is fueling the expenditure capacity to afford a quality lifestyle. Rapid urbanization and changing consumer preferences for private vehicle owners are expected to influence market growth. Automotive market players are making efforts and high-end investments in research and development activities to find innovative solutions to advance vehicle components and enhance vehicle performance.
Market players are improving the driving experience by magnifying smooth acceleration and smooth gear shifting. Increasing vehicle production in countries like India, China, and Brazil and a growing vehicle fleet are expected to fuel the global automotive brake band market demand.
Increasing Sales of Commercial Vehicle Drives Market Growth
Rapid urbanization and industrialization, and the development of road infrastructure are driving the development of the logistics industry. Due to the ongoing infrastructure developments and allocation of funds by leading authorities, the booming construction and mining industry is expected to bolster the demand for commercial vehicles across the globe. Install automatic manual transmission in commercial vehicles.
The driver can customize the automatic or switch to a manual system by pushing the gear lever, upshifting, and then pulling it downwards. The United States is expected to witness substantial growth opportunities due to key market players and advanced technologies in the manufacturing process. Massive sales of passenger cars and efforts to improve the driving experience are expected to accelerate the market growth in the United States.
Ongoing Technological Advancements Fuels the Market Growth
Automotive OEMs adopt advanced systems like automated manual transmission to minimize fuel consumption and carbon emissions to enhance driving performance. Over 60% of passenger cars are equipped with automatic transmission systems. The rise in the adoption of dual-clutch transmission (DCT) and continuously variable transmission (CVT) over the manual and automatic transmission systems to support fuel efficiency and achieve higher automotive performance is expected to boost the market growth. The introduction of intelligent manual transmission by the market players and other technologies influences market demand.
The global automotive brake band market is segmented by transmission type, vehicle type, propulsion, demand category, regional distribution, and company. Based on the transmission type, the global automotive brake band market is divided into automatic transmission (AT), automated manual transmission (AMT), dual-clutch transmission (DCT), continuously variable transmission (CVT) and others.
Based on the vehicle type, the global automotive brake band market is divided into passenger cars, LCV and M&HCV. Based on propulsion, the global automotive brake band market is divided into petrol/CNG, diesel, and electric and hybrid.
Based on the demand category, the global automotive brake band market is divided into OEM and replacement. To analyze the market based on the region, the global automotive brake band market is studied in major regions namely North America, Asia-pacific, Europe & CIS, South America, Middle East, and Africa.
Continental AG, Robert Bosch GmbH, Knott Brake Co, Cook Bonding & Manufacturing Co., Inc., Phoenix Friction Products, are among the major market players in the global platform that lead the market growth of the global automotive brake band market.
“Automotive brake band players are using cutting-edge technologies to advance the existing system to smoothen the transmission and increase fuel efficiency. Novel automatic transmission system containing solenoid, computer, sensors, and the surge in the use of technologies like TEHCM which combine the transmission control module, valve solenoid, merge the temperature and pressure unit into one is expected to fuel the market demand for next five years. With the manufacturing of sophisticated components in automobiles and smoothening the gear shifting process to enhance the driving experience, the global automotive brake band market is expected to propel the global automotive brake band market growth till 2027” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Automotive Brake Band Market - Global Industry Size, Share, Trends, Opportunity and Forecast, 2017-2027”, has evaluated the future growth potential of global automotive brake band and provides statistics & information on market size, 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 global automotive brake band market.
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