Two-Wheeler Brake Components Market Size and Growth Outlook with CAGR of 5.20% through 2028
According to TechSci Research report, “Global Two-Wheeler Brake Components Market– Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Two-Wheeler Brake Components Market stood at USD 1.4 Billion in 2022 and is anticipated to grow with a CAGR of 5% in the forecast period, 2024-2028.
The global Two-Wheeler Brake Components market is witnessing significant growth due to several key factors. Firstly, there is a surge in demand for high-performance motorcycles, driven by enthusiasts seeking powerful and thrilling riding experiences. As motorcycle technology continues to advance, brake systems are also evolving, incorporating innovative technologies to enhance safety and performance.
Moreover, the growing popularity of motorbike racing has further fueled the demand for high-quality brake components. Racing enthusiasts and professionals are constantly seeking cutting-edge brake systems that can deliver superior stopping power and precise control. As a result, manufacturers are continuously investing in research and development to meet the evolving needs of this segment.
Furthermore, the market is experiencing new opportunities with the rise of electric and hybrid two-wheelers. As the world shifts towards sustainable transportation solutions, electric and hybrid motorcycles are gaining traction. These eco-friendly alternatives require specialized brake components that are designed to handle the unique characteristics and demands of electric powertrains. However, despite the promising growth prospects, the market may face certain challenges.
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The high costs associated with performance brake components can pose a barrier, particularly for price-sensitive consumers. Manufacturers and industry players need to strike a balance between high performance and affordability to ensure wider adoption of these advanced brake systems. In conclusion, the global Two-Wheeler Brake Components market is driven by the increasing demand for high-performance motorcycles, advancements in brake system technologies, and the growing popularity of motorbike racing. The emergence of electric and hybrid two-wheelers further adds to the market’s potential. However, addressing the cost concerns will be crucial in unlocking the full growth potential of this market segment.
The global Two-Wheeler Brake Components industry is not only a rapidly growing sector but also a thriving one, driven by the surging demand for two-wheeler vehicles worldwide. From motorcycles to scooters, these versatile modes of transportation have become indispensable in many countries, particularly in densely populated urban areas marked by high traffic congestion. With their compact design and fuel efficiency, two-wheelers offer a convenient and cost-effective solution for daily commuting, making them an increasingly popular choice for people from all walks of life. As the demand for these vehicles continues to rise, the Two-Wheeler Brake Components industry plays a critical role in ensuring safety and performance, providing high-quality brake components that are essential for the smooth and reliable operation of these vehicles.
The brake component of a two-wheeler plays a crucial role in ensuring the safety and optimal performance of the vehicle. It consists of several key components, each with its own unique function.
Brake pads provide friction against the brake disc, creating the necessary stopping power. Brake shoes work similarly, applying pressure against the drum to slow down the vehicle. The brake discs, typically made of metal, provide a surface for the brake pads to grip onto, while the calipers house the brake pads and facilitate their movement. Together, these components work harmoniously to deliver reliable braking performance and enhance the overall riding experience.
Brake Pads are designed with friction material that helps to create the necessary friction and heat dissipation when the brake is applied. Brake Shoes are curved components that press against the brake drum to create friction and slow down the vehicle. Discs, also known as rotors, are flat circular plates that rotate with the wheel and are clamped by the brake calipers to create friction and stop the vehicle. Calipers are the housing units that contain the brake pads and apply pressure to the brake discs or shoes.
Each of these elements is meticulously engineered and designed to provide optimum braking performance, reliability, and longevity. By effectively converting the kinetic energy of the moving vehicle into heat energy through friction, the brake system prevents accidents and ensures rider safety. Whether it’s a sudden stop or gradual deceleration, a well-maintained and properly functioning brake system is crucial for a smooth and secure ride.
Technological advancements in the automotive industry have paved the way for the development of highly sophisticated and efficient braking systems. One prime example is the introduction of the Anti-Lock Braking System (ABS) and Combined Braking System (CBS) in two-wheelers, which has brought about a revolutionary transformation in the market. These cutting-edge technologies have not only significantly enhanced the braking performance but also elevated the safety levels for riders, ensuring a smoother and more secure riding experience. With their advanced features and meticulous engineering, ABS and CBS have become indispensable components of modern-day two-wheelers, setting new standards for braking efficiency and rider protection.
The market is currently experiencing a significant surge in demand for disc brakes, attributed to their exceptional performance and reliability when compared to traditional drum brakes. This growth is primarily driven by an increasing emphasis on safety and the adoption of improved braking mechanisms by regulatory bodies and end-users alike. With their superior stopping power and enhanced control, disc brakes have become the preferred choice for discerning consumers seeking optimal braking performance and peace of mind on the road.
The Asia-Pacific region, particularly India and China, holds a prominent position in the Two-Wheeler Brake Components market. This is due to the region’s thriving two-wheeler industry, which is fueled by a large population, rapid urbanization, and the increasing demand for affordable and efficient transportation solutions. With a strong emphasis on technological advancements and cost-effective manufacturing, the Asia-Pacific region continues to be a driving force in the global market for Two-Wheeler Brake components.
However, the Two-Wheeler Brake Components market also faces several challenges. The market is heavily dependent on the overall two-wheeler industry performance, which in turn is susceptible to economic fluctuations, regulations, and changing consumer preferences.
Furthermore, the rising adoption of electric two-wheelers presents both a significant challenge and a promising opportunity for the Brake Component market. With the shift towards electric vehicles, traditional braking systems may not be suitable, creating a demand for innovative solutions tailored for electric mobility. This opens up a potential growth avenue for the industry, as manufacturers and suppliers can explore new technologies and design advancements to meet the specific braking requirements of electric vehicles. By embracing this changing landscape, the Brake Component market can position itself at the forefront of the evolving automotive industry and drive sustainable growth in the years to come.
The market is highly competitive with the presence of numerous global and regional players. Key market players are focusing on product development and innovation to maintain their competitive edge. Notably, there’s an increased emphasis on lightweight, durable, and efficient brake components.
In conclusion, the global Two-Wheeler Brake Components market is poised for significant growth in the coming years. The market, despite facing certain challenges, is expected to witness remarkable expansion. This growth can be attributed to several factors. Firstly, advancements in technology, such as the development of innovative braking systems, are anticipated to enhance the overall performance and safety of two-wheelers.
Secondly, the implementation of stricter safety regulations by governing bodies worldwide will drive the demand for high-quality brake components. Lastly, the ongoing electric vehicle revolution is set to revolutionize the industry, as the shift towards electric-powered two-wheelers will create a need for specialized brake components to meet the unique requirements of these vehicles. With these factors in play, the future of the Two-Wheeler Brake Components market looks dynamic and promising.
Major companies operating in the Global Two-Wheeler Brake Components Market are:
- Bosch Limited
- Nissin Kogyo Co., Ltd
- AC Delco
- Brake Parts Ltd.
- Endurance Technologies Limited
- Akebono Brake Industry Co., Ltd.
- Brakes India Limited
- Continental AG
- Sundaram Brake Lining Ltd.
- Rane Holdings Limited
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“The Global Two-Wheeler Brake Components Market is primarily driven by a number of factors. Firstly, the increasing consumer preference for two-wheelers due to their cost-effectiveness and convenience in navigating through traffic is a significant driver. Secondly, advancements in brake technology, such as the integration of ABS (Anti-lock Braking System), are boosting the market. Thirdly, the rise in electric two-wheelers, which require specific braking components, is propelling market growth. Finally, stringent safety regulations imposed by governments worldwide are also contributing to the market expansion, by necessitating the upgrade of brake components in two-wheelers.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.
Global Two-Wheeler Brake Components Market Segmented By Product Type (Brake Shoe, Brake Pad & Brake Caliper), By Vehicle Type (Scooter/Moped & Motorcycle), By Demand Category (Replacement and OEM), By Regional, Competition Forecast & Opportunities, 2018 – 2028F ”, has evaluated the future growth potential of Global Two-Wheeler Brake Components Market 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 the Global Two-Wheeler Brake Components Market.
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Table of Content-Two-Wheeler Brake Components Market
- Introduction
1.1. Product Overview
1.2. Key Highlights of the Report
1.3. Market Coverage
1.4. Market Segments Covered
1.5. Research Tenure Considered
- Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
- Executive Summary
3.1. Market Overview
3.2. Market Forecast
3.3. Key Regions
3.4. Key Segments
- Impact of COVID-19 on Global Two-Wheeler Brake Components Market
- Global Two-Wheeler Brake Components Market Outlook
5.1. Market Size & Forecast
5.1.1. By Volume & Value
5.2. Market Share & Forecast
5.2.1. By Product Type Market Share Analysis (Brake Shoe, Brake Pad & Brake Caliper)
5.2.2. By Vehicle Type Market Share Analysis (Scooter/Moped & Motorcycle)
5.2.3. By Demand Category Market Share Analysis (Replacement and OEM)
5.2.4. By Regional Market Share Analysis
5.2.4.1. Asia-Pacific Market Share Analysis
5.2.4.2. Europe & CIS Market Share Analysis
5.2.4.3. North America Market Share Analysis
5.2.4.4. South America Market Share Analysis
5.2.4.5. Middle East & Africa Market Share Analysis
5.2.5. By Company Market Share Analysis (Top 5 Companies, Others – By Value, 2022)
5.3. Global Two-Wheeler Brake Components Market Mapping & Opportunity Assessment
5.3.1. By Product Type Market Mapping & Opportunity Assessment
5.3.2. By Vehicle Type Market Mapping & Opportunity Assessment
5.3.3. By Demand Category Market Mapping & Opportunity Assessment
5.3.4. By Regional Market Mapping & Opportunity Assessment
- Asia-Pacific Two-Wheeler Brake Components Market Outlook
6.1. Market Size & Forecast
6.1.1. By Volume & Value
6.2. Market Share & Forecast
6.2.1. By Product Type Market Share Analysis
6.2.2. By Vehicle Type Market Share Analysis
6.2.3. By Demand Category Market Share Analysis
6.2.4. By Country Market Share Analysis
6.2.4.1. China Market Share Analysis
6.2.4.2. India Market Share Analysis
6.2.4.3. Japan Market Share Analysis
6.2.4.4. Indonesia Market Share Analysis
6.2.4.5. Thailand Market Share Analysis
6.2.4.6. South Korea Market Share Analysis
6.2.4.7. Australia Market Share Analysis
6.2.4.8. Rest of Asia-Pacific Market Share Analysis
6.3. Asia-Pacific: Country Analysis
6.3.1. China Two-Wheeler Brake Components Market Outlook
6.3.1.1. Market Size & Forecast
6.3.1.1.1. By Volume & Value
6.3.1.2. Market Share & Forecast
6.3.1.2.1. By Product Type Market Share Analysis
6.3.1.2.2. By Vehicle Type Market Share Analysis
6.3.1.2.3. By Demand Category Market Share Analysis
6.3.2. India Two-Wheeler Brake Components Market Outlook
6.3.2.1. Market Size & Forecast
6.3.2.1.1. By Volume & Value
6.3.2.2. Market Share & Forecast
6.3.2.2.1. By Product Type Market Share Analysis
6.3.2.2.2. By Vehicle Type Market Share Analysis
6.3.2.2.3. By Demand Category Market Share Analysis
