Brake Drum Market was valued at USD 2.5 Billion in 2022 and is projected to reach USD 3.7 Billion by 2030, growing at a CAGR of 5.5% from 2024 to 2030.
The global brake drum market was valued at approximately USD 7.3 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 4.6% from 2023 to 2030. The increasing demand for advanced braking systems in automotive and industrial applications is driving this growth. The market's expansion is supported by the rising production of commercial vehicles and the need for durable braking components in various transportation segments. With the automotive sector's focus on enhancing safety and performance, the adoption of high-quality brake drums is expected to rise, contributing significantly to the market's upward trajectory.Emerging markets are presenting substantial opportunities for brake drum manufacturers. Countries in Asia-Pacific, particularly India and China, are experiencing rapid industrialization and urbanization, leading to a surge in vehicle production and infrastructure development. This growth in emerging economies is expected to drive the demand for brake drums as part of the broader expansion of the automotive and transportation industries. Furthermore, advancements in material technology and innovations in brake drum designs are opening new avenues for market players to capitalize on these growing opportunities.
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ZF TRW
Mando Corporation
Akebono Brake Industry
Aisin Seiki
Continental
CBI
Nissin Kogyo
APG
Knorr-Bremse AG
XinYi
CCAG
TAIFENG
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Brake Drum Market
Passenger Vehicle
Commercial Vehicle
Based on Types the Market is categorized into Below types that held the largest Brake Drum market share In 2023.
Leading Trailing Shoe Brake
Dual Two Trailing Shoe Brake
Dual Two Leading Shoe Brake
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Brake Drum Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Brake Drum Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Brake Drum Market, By Type
6. Global Brake Drum Market, By Application
7. Global Brake Drum Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Brake Drum Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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