The new report by Expert Market Research titled, ‘Global Automotive Brake Shims Market Size Report and Forecast 2023-2028’, gives an in-depth analysis of the global automotive brake shims market, assessing the market based on its segments like material types, vehicle types, market types, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 5.8%
The automotive brake shims industry is being driven by the thriving automotive industry owing to the rising demand for commercial and passenger cars, increasing spending on automobile maintenance, rising disposable incomes, and changing consumer preference towards disk braking systems. Automotive braking shims are capable of providing a peaceful driving experience, as they allow for noiseless braking, which is expected to provide impetus to the market growth in the forecast period. In addition to this, the expansion of the automotive industry in the emerging economies is likely to propel the demand for automotive brake shims in the forecast period. In terms of region, North America accounts for a significant share in the market owing to the advanced automotive infrastructure in the United States of America and Canada, coupled with the strong foot hold of major automotive manufacturing companies in the region.
Industry Definition and Major Segments
Automotive brake shims are defined as the adhesive pads made up of metal or rubber which fit between brake pad and rotor. Automotive brake shims are used to reduce the noise, while applying brakes in a vehicle. In this regard, brake shims prevent rotors and brake pads from banging against each other.
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By material type, the market can be segmented into:
Based on vehicle types, the market can be broadly categorised into:
• Passenger Cars
• Commercial Vehicles
On the basis of market type, the market has been bifurcated into:
The regional markets for automotive brake shims include:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
The rapid technological advancements and the growing research and development activities by the major automotive players in an endeavour to enhance the acoustic standards of automobiles are the key trends aiding the growth of the automotive brake shims industry. The increasing focus of manufacturers to produce high-quality brake shims using innovative technological materials or various grades of metals, including elastomeric rubbers and fiberglass, is expected to aid the market in the coming years. Furthermore, the growing demand for luxury vehicles from the elite and business class population in the emerging economies is anticipated to be another key trend contributing to the growth of the market.
Key Market Players
The major players in the market are Stanztechnik Schulte GmbH, Trelleborg AB, Brickham Stamping Company, Inc., and Meneta Group, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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