Automotive & Transportation

Automotive night vision system market to witness double-digit CAGR over 2019-2025

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Leveraging government regulations that focus on reducing road accidents and improving vehicle safety, automotive night vision system market is anticipated to establish itself as a lucrative avenue of investment in forthcoming years. Automotive night vision can be described as a cluster of loosely-related technologies that have the capability to enhance driver’s situational awareness when the vehicle encounters reduced road visibility in low-light conditions.

Germany automotive night vision system market size, by display, 2018 & 2025 (USD Million)

Germany automotive night vision system market size, by display, 2018 & 2025 (USD Million)

Essentially, automotive night vision consoles extend drivers’ perception far beyond the limited reach of the headlights using infrared lights, thermographic cameras, heads up displays (HUDs) and other technologies. As they are capable of alerting drivers of potential road hazards significantly beforehand, they can help in preventing road accidents, promoting integration of the automotive night vision system in more automobile segments. The substantial deployment of such vehicle safety features is slated to augment automotive night vision system industry share.

Currently, looking into future business opportunities, leading automotive giants have been incorporating night vision systems in their vehicle variants. For instance, luxury vehicle brands such as Mercedes-Benz and BMW offer night vision assist features that decrease chances of road accidents in low visibility, ensuring passenger as well as pedestrian safety.

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According to Mercedes-Benz, its Night View Assist Plus feature goes a step further by recognizing obstacles, such as large animals and pedestrians, sooner and highlighting them on the driver’s console. The night vision system is also capable of distinguishing actual obstacles from irrelevant roadside objects such as bushes and road signs.

Ongoing advancement in the integral features night vision technology will strengthen overall automotive night vision system market trends. For example, BMW has incorporated a failsafe mechanism, wherein if the driver ignores initial warnings the system starts blinking red, accompanied by an acoustic alarm while also priming the vehicle’s brakes for optimum responsiveness. Such technology advancements may thus contribute to reduce road fatalities by a notable proportion.

According to the reports of the National Highway Traffic Safety Administration, in 2016, nearly 37,461 fatalities had been observed due to road accidents across U.S. – a momentous rise of 5.6% than the previous year’s numbers. Moreover, the U.S. based insurance and financial service company, State Farm claimed that, between July 2017 and June 2018, animal collisions accounted for 1.33 million road accident cases.

Earlier, astronomical equipment prices prevented widescale penetration of night vision systems and relegated them to the luxury vehicle segment. However, increasing affordability of components such as infrared cameras and the prevalent trend of customers and regulatory authorities demanding more road safety are expected to foster industry growth in coming years.

The anticipated rise of autonomous vehicles is expected to emerge as a major proponent for automotive night vision system industry during the forecast timeframe. Autonomous driving systems rely upon an array of technologies including radar, LiDAR, cameras and image recognition to drive the vehicle with minimal human intervention.

While the aforementioned technologies allow vehicles to be driven without human input, there are serious limitations to the conditions they can operate in. One such limitation came to light in 2018, when Uber’s self-driving vehicle struck and killed a pedestrian. The accident occurred at night and a majority of blame fell on the vehicle’s sensor array that consistently failed to recognize the pedestrian in low light conditions. Taking such incidents into account, regulatory bodies have been working to frame new road safety guidelines.

Stringent safety norms have put immense pressure on autonomous vehicle manufacturers to introduce state-of-the-art night vision features in their vehicles. The deployment of strict road and safety regulations is expected to generate untapped opportunities for the players in automotive night vision system market outlook.

From a regional perspective, Europe and North America are expected to have significant share of automotive night vision system market landscape during the forecast timeframe. Presence of several key automotive industry players, stringent government regulations and a customer base that prioritizes safety above all else are expected to foster market growth over 2019-2025.

Overall, automobile night vision system’s changing reputation from a clever luxury feature to an integral vehicle safety feature would ensure its widespread adoption across a number of vehicle segments in forthcoming years. In fact, according to a Global Market Insights, Inc., research report, automotive night vision system market is expected to surpass a $4.5 billion valuation by 2025.

Author Name : Akshay Kedari

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Hydraulic automotive torque tools market to exhibit robust growth over 2019-2025

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Automotive torque tools market plays a significant role in the growth of the global auto sector owing to the ease of operation, speed, smooth handling ability as well as extreme reliability of these tools. Increasing technological advancements in the automobile market and gradually rising vehicle sales imply a probable hike in the demand for automotive tools & equipment to address maintenance needs. Driven by growing design complexities in vehicle engines, which require precise torque settings to tighten components, automotive torque tools industry is expected to witness substantial gains in coming years.

U.S. Automotive Torque Tools Market, By Tools, 2018 & 2025, (USD Million)
U.S. Automotive Torque Tools Market, By Tools, 2018 & 2025, (USD Million)

Pneumatic tools are a vital component in global automotive torque tools market on account of their requirements in high-performance automotive applications. Pneumatic tools are simple, clean, reliable, lightweight, and robust enough to endure harsh site conditions, making them the perfect choice for fast, efficient and accurate bolting applications. These tools provide continuous torque and are proven to achieve the correct torque values in a more cost-efficient manner. Rising demand for these products combined with continuous development of pneumatic tool portfolio by industry players will reinforce the adoption of pneumatic torque tools.

Recently Ingersoll Rand introduced a host of pneumatic tools application across different business segments, including auto manufacturing. These products included effective torque wrenches designed for maximum torque during fastening and are targeting use in hazardous working environments. Similar efforts taken by other tool manufacturers to cater to the growing need for automobile assembly, repair and maintenance applications will fuel automotive torque tools market expansion. Global vehicle production had surpassed the 95.6 million mark in 2018, indicating the massive customer base for automotive tools.

Electronic torque tools are anticipated to witness significant consumption owing to their user-friendly operation, technology-assisted precision, programmable torque settings and real time digital display. The tool also delivers sensory, acoustic and visual signals to alert the operator once the pre-set torque is reached. The lack of vibration and longer life spans increase the product’s demand in the automotive sector. Several advantages offered by innovative electric options over conventional tools will certainly outline automotive torque tools industry outlook over the forecast period.

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Hydraulic torque tools are expected to witness a stellar installation rate in the automotive torque tools market due to their utilization in heavy-duty applications. Hydraulic tools are self-ratcheting machines with extreme precision torque control coupled with a high degree of accuracy. Increased joint integrity and decreased bolting time makes them best suited for high-level automobile applications. Early this year Enerpac Co. unveiled a versatile line of hydraulic torque wrenches capable of operating hexagon cassette as well as square drive head, demonstrating innovative approach of industry players.

Electric vehicles have become widely popular on account of the smooth and quiet operation of their engines the ability to mitigate environmental concerns. EVs offer much higher torque than expected because the wheels are driven directly by electric power. Hybrid electric vehicles operate on a hybrid system that functions on both electric power as well as fuel, presenting additional challenges in vehicle maintenance. Dependence on battery has led to the development of novel, insulated torque tools for hybrid cars and EVs to ensure efficient and safe handling of parts, expanding the scope of global automotive torque tools industry.

Innovative trends in material usage to design and manufacture automotive tools with enhanced reliability and efficiency in bolt fastening applications have transformed automotive torque tools market dynamics. The International Organization for Standardization (ISO) and other administrative bodies have proposed certain guidelines with respect to design, quality, calibration and measurements of tools to control quality and performance. As these regulations keep updating and standards evolve to keep pace with the changing auto sector, there would be consistent advancement of torque tools deployed in the automotive sector.

Owing to continuous rise in the production of vehicles and the necessity of torque tools in manufacturing and maintenance, automotive torque tools industry is poised to register a notable growth in the coming years. Key players coming up with new and innovative products include Atlas Capco, Ingersoll Rand, Torcstar, Enerpac, GEDORE and Tekton. Reports estimated that global automotive torque tools market will exceed an annual valuation of US$1.2 billion by 2025.

Author NameHrishikesh Kadam

Rising vehicle production rate to fuel automotive logistics market share

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With automakers looking to offer a wide range of vehicle models to cater to varying customer demands,  global automotive logistics market is projected to experience substantial business growth over the forthcoming years. Apparently, a single car series model from a premium German vehicle brand can be available in approximately 1,017 possible variations. The unprecedented level of complexity, driven by product variety and the immense pressure exerted on industry players due to tough international competition makes it considerably difficult for automakers to ensure efficient logistics operations.

U.S. Automotive Logistics Market, By Vehicle, 2018 & 2025, (USD Billion)
U.S. Automotive Logistics Market, By Vehicle, 2018 & 2025, (USD Billion)

Supplying auto parts to global customers entail some of the prominent factors endorsing the importance of automotive logistics industry. It is also the reason why automobile manufacturers today maintain vehicle assembly plants across the world. Instead of manufacturing and shipping entire vehicles to regional markets overseas, automakers prefer to manufacture and ship vehicle components to local manufacturing facilities and then assemble the components into a vehicle. This practice delivers substantial savings on import duties, reinforcing global automotive logistics market share.

The benefits offered by automotive logistics service providers, while enabling automakers in creating an international footprint, also frees resources up to focus on any new opportunities and challenges. Subsequently, automotive logistics industry has become a major influence on domestic and international automotive sector, supporting the development of many small and medium enterprises.

Automobile and auto parts shipping services are typically hired by private owners, being a convenient means to transport customers’ vehicle from one place to another. The entire process involves loading the vehicle on a dedicated truck and shipping it to its destination. In extreme cases vehicles can also be shipped on freight carriers or cargo planes, a prominent example being the UK’s supercar season, annual phenomenon wherein wealthy individuals, especially from Gulf regions, ship their supercars to the UK for vacationing and exhibitions. Apart from licensing and custom fees, shipping a car using cargo planes costs approximately £20,000 per vehicle per trip.

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Growing intensity of vehicle production would be further providing a sizable boost to the automotive logistics market. According to a 2019 report by Volkswagen, deliveries by VW Commercial Vehicles division in 2018 amounted to approximately 500,000 vehicles, an increase on the numbers from the preceding year. The positive growth which leading companies like VW are experiencing, even in a slowing market landscape, would be providing further growth opportunities to the automotive logistics industry players.

Asia Pacific is projected to emerge as one of the dominant customer base for auto parts, with the anticipated demand being credited to the domestic auto manufacturing sector and a strong presence of global automobile manufacturers. India, specifically, is estimated to contribute substantial revenues to automotive logistics market over the forecast timeframe. The Society of Indian Automobile Manufacturers stated that passenger vehicle sales increased by 2.70% over March-April 2019 in India. The nation’s commercial vehicles segment also recorded a 17.55% growth in the quarter, as compared to the same period the previous year.

Japan will be a key market for domestic automotive logistics services and the country’s contribution is being attributed to well-established automobile manufacturers such as Toyota, Nissan and Honda that call Japan their home. Toyota, for instance, has its parts and logistics division network spanning across 38 countries, with over 177 dedicated sites that are operated by more than 79 overseas business entities and subsidiaries. Such vast networks are exactly why Japanese automakers enjoy a strong presence in different countries and will drive the expansion of the regional automotive logistics industry.

Owing to a gradual increase in automobile production and the robust development of automotive sector in APAC, global automotive logistics industry is slated to record tremendous revenues in the imminent future. Key industry participants expected to lead the growth include DHL International, CEVA Logistics, SNCF Group, XPO Logistics and Imperial Logistics. Global Market Insights, Inc. has predicted that automotive logistics market size will exceed an annual valuation of $170 billion by 2025.

Author NameAkshay Kedari

North America golf cart market to accrue substantial proceeds by 2025

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Owing to a rise in disposable incomes and the growing demand for convenient short distance travel solution at various institutions, golf cart market is gaining significant momentum worldwide. Golf carts are reliable, compact, versatile, user-friendly and warrant extremely low maintenance, enabling them to address a number of different job requirements. Versatility has been one of the prominent factors endorsing this vehicle category over the years and is expected to bring in substantial business growth to global golf cart industry.

U.S. Golf Cart Market, By Application, 2018 & 2025, (USD Million)
U.S. Golf Cart Market, By Application, 2018 & 2025, (USD Million)

Relative affordability of a golf cart plays a key role in boosting the adoption of these vehicles, bringing in considerable remuneration from avenues that in no way are related to golfing, with applications ranging from farming and hunting to police work and community strolls. After being subject to suitable modifications, golf carts can also be deployed for off-road applications on rough roads, designed to perform like a UTV. Extensive use of these small automobiles for a slew of different purposes will drive golf cart market size substantially.

Electric golf cart adoption has seemingly been underestimated and underreported over the past few years. According to the Harvard Business Review, electric golf carts are often ignored by the mainstream media but are thriving in applications that do not require all features a conventional automobile offers. These also include areas where electric vehicles inherently perform better than their conventional fossil fuel powered counterparts. Electric golf cart market possesses a substantial amount of untapped potential, enough to effectively disrupt the overall electric vehicle (EV) segment.

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It is estimated that golf carts would be showing notable growth in two EV categories, electric utility vehicles (EUV) and low-speed electric vehicles. The subsegment of low-speed EVs revolve around consumer vehicles that are built upon platforms derived predominantly from golf carts and ATVs. The EUV subsegment, meanwhile, encompasses a range of golf cart-derived vehicle designs ranging from light-duty platforms to heavy-duty trucks.

From a regional perspective, North America is among the world’s biggest golf cart markets. The factors influencing the notable demand for golf carts in the region include its dominant golfing culture. North America, specifically the U.S., has apparently given rise to the notion of golf carts being used for a host of different applications besides the sport. In recent years, it has been observed that people across small American towns are ditching conventional automobiles in favor of golf carts, especially in areas dedicated for elderly people who need an easy means of transportation.

Reportedly, people in census-designated city called The Villages in Florida use golf carts as a central mode of transportation. There are approximately 50,000 golf carts in the city which has 90 miles of road infrastructure dedicated to golf carts. The city boasts of dedicated golf cart bridges and parking lots, while one third of the city’s trips are taken through this convenient mode of transport. It is projected that this trend would grip other cities across the US over the coming years, giving substantial growth impetus to North America golf cart industry size.

Europe is slated to emerge as a promising golf cart market contender, supported immensely by the European Golf Course Owners Association’s vision 2020, which aims to find answers to Europe’s dwindling golfing culture and put efforts towards attract more participation to the sport. Ireland, which is home to some 400 golf courses, could stand out as a lucrative customer base. Reports suggest that consumer spending in the Republic of Ireland was approximately €379 million, while the entire island spending was around €540 million on the game back in 2017.

Asia Pacific is also expected to emerge as a prominent market player over the forecast timeframe, with growing purchasing power and popularity of the sport expected to foster industry growth. Apparently, out of over 100 new golf projects currently under several stages of design, construction and development, 30% are present in Asia. Considering the sport’s rising acceptance in the region and the number of projects currently under development, APAC golf cart market share is slated to witness sizable demand.

The projected resurgence of golfing as a sport and golf cart’s ability in addressing transport challenges in an array of other applications can be expected to expedite golf cart industry landscape. Competitive hierarchy of the industry is comprised of key players like Columbia Vehicles, Club Car, GDrive, Textron and Yamaha. Global Market Insights, Inc. has predicted that golf cart market size will surpass a valuation of $2 billion by 2025.

Author NameAkshay Kedari

Cellular vehicle-to-everything (C-V2X) market to witness double-digit CAGR over 2019-2025

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Growing number of technological developments in the field of communication has fueled cellular vehicle-to-everything (C-V2X) market expansion worldwide, with considerable investments in advanced hardware and software components. A surge in disposable incomes and easy availability of automobile finance have driven the sales of mid to high-end luxury vehicles and allowed manufacturers to build in innovative features like telematics, cellular vehicle tracking, automatic parking and driver assistance systems. Consistent growth in transportation and logistics services have warranted the demand for latest fleet management systems, advancing the scope of global C-V2X industry.

Europe Cellular Vehicle-to-Everything (C-V2X) Market Share, By Region, 2018

Europe Cellular Vehicle-to-Everything (C-V2X) Market Share, By Region, 2018

Enabling reliable and efficient connections between vehicles could implement co-operative driving to avoid traffic bottlenecks, accidents and allow smooth control of convoys. Vehicle to vehicle technology has reached a stage where a single platform can link multiple resources and help provide data for vehicle diagnostics and usage-based insurance, while powering advanced infotainment systems. Cellular vehicle tracking has become a norm amongst many large fleets, whether it is passenger transport or commercial goods movement.

Globally, 4G or LTE infrastructure has expanded tremendously and using the existing cellular infrastructure will lower the amount of new roadside components to be added. Deploying the established LTE networks will allow for cost-effective, dependable and easy communication at high speeds will significantly boost global C-V2X market share. It will also enhance line-of-sight of systems, facilitating communication over longer distances and improving the performance of GPS. With 5G networks on the way, upgrading existing LTE components would further propel adoption of vehicle to vehicle (V2V) or vehicle to network (V2N) communications.

Advanced driver assistance systems are being considered as an inevitable inclusion in future vehicles, with number of road accidents on the rise despite improvements in infrastructure and road safety awareness programs. C-V2X industry is poised to witness substantial revenues from collision avoidance application, to develop better V2V and vehicle to person (V2P) solutions. Reportedly, every year car accidents amount to nearly US$242 billion in economic costs across the U.S. Reducing the number of vehicle crashes is a priority among automakers and effective V2V solutions could help mitigate collision risks for drivers.

One of the world’s leading auto manufacturers, Ford had indicated the lucrative future prospects existing for C-V2X industry last year when it began testing V2V communication system in the U.K. The aim of the experiments were to observe co-ordination between movement of cars for passing through intersections without having to stop, eliminating the need for traffic lights.  Although the vehicle had a human driver, the company is eyeing deployment of the system in self-driving cars as well.

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The advent of hybrid and electric vehicles has produced immense growth opportunities for C-V2X industry, since these vehicles are dependent on the latest hardware components and communication technologies. Incorporating the most advanced chips and equipment, electric cars could easily communicate with each other for alerting about probable distress situations or roadside hazards. According to the International Energy Agency, a projected 125 million electric cars could be on the roads by 2030, signifying the vast potential of C-V2X market.

An important application area for V2V technologies are autofocus vehicles, which are fundamentally run by highly reliable, fast communication systems that have low latency. Several chip makers and auto manufacturers are attempting to enhance collision avoidance capabilities of driverless cars to ensure a safe product and to meet stringent regulatory requirements.

With the presence of many leading automotive companies and partnerships with global technology firms, Asia-Pacific C-V2X market can be expected to reign in enormous revenues over the coming years. In December 2018, a consortium comprised of automaker Nissan and companies like Qualcomm, Continental and Ericsson completed the first C-V2X testing in Japan using 5.8 GHz frequency for direct communication. Tests were conducted under various conditions and demonstrated the potential of not only V2V, but V2N and V2P communications.

Owing to remarkable achievements in deploying communication network equipment and integrating crucial V2V systems within vehicles, C-V2X market is slated to register a double digit growth from 2019 to 2025. Key players outlining the competitive dynamics of the industry include Autotalks, Bosch, Continental, Nokia, Qualcomm, Intel and Savari.

Author Name : Pankaj Singh

MEA utility terrain vehicles market to witness modest growth from military applications

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Rising technological advancements and launch of robust, high-performance vehicle segments are anticipated to boost the MEA utility terrain vehicle market size. UTVs are powerful off-road vehicles that are designed to perform more challenging task and carry heavier loads compares to ATVs. They come with safety features like roll cages, seat beats and windshields that helps protect passengers from roll overs or potential accidents.

Saudi Arabia Utility Terrain Vehicles Market, By Application, 2018 & 2025, (USD Million)

MEA Utility Terrain Vehicles Industry Size, By Country, 2025, (USD Million)

These features become extremely important in applications like wildlife management, material handling, hunting, racing and more. The vehicle also comes with adequate storage space, offering users extra space to place items like tools, fuel cans, etc.

Rising spending in off-road trailing activities will drive the MEA UTV market share. Moreover, launch of high-performance UTVs will supplement industry growth. For instance, in 2019, Honda extended its Talon portfolio of side-by side, high-performance UTVs with two new four-seater segments.

South Africa utility terrain vehicle market will witness steady growth owing to multiple applications of UTV in forestry, landscaping and agriculture activities. Indeed, the agriculture sector of Africa is showing commendable progression owing to increased productivity and rural incomes. The growth can undeniably be attributed to adoption of improved agricultural technologies and use of vehicles like UTV.

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The UTV’s smaller sizes and versatility allow farmers to easily travel across large farmlands and undertake a wide variety of tasks. Notably, a UTV assists in carrying out task like quickly and easily transporting supplies across farm, plowing and harrowing fields, mowing grass, building fences, spreading seeds, managing cattle, carrying firewood and more.

With new UTV models being made specifically for farm operations, the South Africa UTV market would witness significant growth over the coming years. Prominent companies have been launching new UTVs in the region, replete with enhanced features like upgraded suspension and higher towing capacity. The region also boasts of the presence of quad biking facilities such as Induna Adventures, Soweto Outdoor Adventures, Clarens Xtreme, Kagga Kamma, and Segwati Quad Trails, that will positively boost the regional utility terrain vehicles industry share.

The MEA utility terrain vehicle market will garner commendable gains from military applications. UTVs are modular design vehicles that effectively meet the demands of military and international special forces. These lightweight tactical vehicles come in two or four seat variants which are fast and favor agility and durability.

Rapid deployment of innovative military UTVs that offer improved transportability and multi mission capabilities will augment industry size. Moreover, increasing military spending will offer new growth opportunities, enhancing MEA UTV business outlook.

For instance, Polaris has unveiled its MRZR® D4 ultra-light tactical off-road vehicle which delivers mobility, mission versatility, air-transportability, and durability along with 4 seat arrangements to transport personnel and mission-critical gear over extreme terrain more quickly and effectively.

Saudi Arabia market holds a significant share in the MEA utility terrain vehicles industry owing to rising application in recreational activities and racing events in the region. Several UTV championships are organized in Saudi Arabia under the General Entertainment Authority (GEA) which has attracted sports enthusiasts across the globe.

Saudi Arabia recently announced plans to host Rally Dakar, one of the world’s biggest and most challenging rally race, in January 2020 targeted for 4 different categories including UTV, cars, trucks and bikes. Increasing government funding and supportive initiatives targeted towards enhancement of recreational infrastructure will also support the UTV market share over the forecast timeframe.

UTV is a motorized vehicle designed to carry out a specific task in off road conditions with more efficacy than a normal passenger vehicle. Growing consumer spending and launch of improved vehicle portfolios will drive industry growth. Reports from Global Market Insights, Inc., estimates MEA utility terrain vehicles market to exceed USD 465 million by 2025.

Author Name : Mateen Dalal

Strict regulatory norms to drive automotive brake pads market size

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As per the latest research report by Global Market Insights, Inc., automotive brake pads market is projected to be worth more than 10 billion by 2025. The surging production of automobiles across the world is the major driving force for automotive brake pads market. Burgeoning demand for passenger vehicles, due to convenience offered by them, will further raise product demand.

U.S. Automotive Brake Pads Market, By Material, 2018 & 2025, (USD Million)
U.S. Automotive Brake Pads Market, By Material, 2018 & 2025, (USD Million)

The increasing demand for clean and green energy and elevating global air pollution levels have pushed several automakers to launch their own electric vehicles. Japanese automaker Toyota is currently working on six new EVs with plans to roll out the new range by 2025, across the U.S, China, and Europe. Besides the passenger vehicles, the carmaker is also planning to introduce microcars and a smart-car like hatchback. General Motors is also planning to launch a clean version of Hummer. Production of newly launched models will boost the demand for compatible brake systems, thereby fueling automotive brake pads market size.

The demand for brake pads and demand for automobiles go hand in hand. Hence, the factors which boost automotive production will also favor the expansion of automotive brake pads market share. The numerous developments in battery electric vehicles market are also projected to fuel automotive brake pads industry size over the coming years.

The presence of stringent regulatory backdrop regarding brake pad raw materials would limit growth prospects for brake pads manufacturers. For instance, the usage of asbestos is regulated under the Clean Air Act and federal laws like the Toxic Substances Control Act. Since this material is a significant component of several auto parts including brake pads and linings, restrictions on its use are likely to hinder automotive brake pads industry growth.

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The introduction of strict government regulations to promote advanced braking technologies among drivers will benefit the market. For instance, the Indian Ministry of Road Transport & Highways has decided to make advanced brake system mandatory for heavy vehicles with nine seats and above. Favorable government mandates aimed to enhance road safety and reduce accidents will surge the demand for brake pads thereby boosting automotive brake pads market share in the coming years.

Increasing adoption of disk brakes will further accelerate automotive brake pads market growth, owing to a series of advantages including enhanced stopping power. Therefore, increasing installations of disk brakes will accelerate the demand for brake pads, thereby augmenting automotive brake pads industry share.

The increasing pressure from government bodies to reduce emission and promote greener transport offers new growth prospects to brake pads manufacturers in the industry. Companies are now manufacturing eco-friendly brakes free from harmful materials like asbestos, ceramic fibers, lead or nickel. The use of greener materials will result in a significant reduction in fine particle emissions, that would promote product demand among environmentally conscious buyers.

The features of brake pads like optimum performance results, noise suppression, and enhanced safety, would promote its acceptance among renowned car brands, thereby favoring automotive brake pads market outlook.

EV revolution may encourage industry trends. Although sales of passenger vehicles are experiencing a slight slowdown across the world, heavy-duty vehicles seem to be doing well. Recently, General Motors announced a $150 million investment to enhance production of heavy-duty trucks by 40,000 vehicles a year. Owing to the electric revolution heavy-duty vehicles are set to switch from diesel to electric, which could persuade the production of more electric heavy-duty vehicles in the upcoming period. This development could accelerate the demand for front brake pads, which are common in heavy-duty vehicles.

Brake pads impact the overall braking performance, and hence are a vital safety component in automobiles. They deal with challenges such as braking noises, high wear tear, and heat dissipation. Due to the frequent friction applied against metal disk or drum, brake pads wear down over a period of time, generating the need for replacement. Hence, replacement of brake pads will continue to foster automotive brake pads market trends in the coming years.

Author Name : Krithika Krishnan