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NEW YORK, May 24, 2021 /PRNewswire/ --
Set to grow by USD 4.97 billion during 2021-2025, Technavio's latest market research report estimates the automotive brake components aftermarket to register a CAGR of over 3%. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.
Technavio has announced its latest market research report titled
Automotive Brake Components Aftermarket by Product, Geography, and Type - Forecast and Analysis 2021-2025
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Akebono Brake Industry Co. Ltd., BorgWarner Inc., Brembo Spa, First Brands Group, Hyundai Motor Co., Nisshinbo Holdings Inc., Robert Bosch GmbH, Tenneco Inc., Valeo SA, and ZF Friedrichshafen AG are some of the major market participants. The increasing number of PARC vehicles will offer immense growth opportunities. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments, while maintaining their positions in the slow-growing segments.