Brake Shoe Market is expected to reach USD 20.72 Bn by 2030, at a CAGR of 7.8% during the forecast period.Brake Shoe Market Overview
A brake shoe is a feature of the braking system that transports the brake lining in automotive drum brakes. Leading/trailing brake shoes, dual leading brake shoes, and duo-servo brake shoes are the different types of drum brake shoe systems found in vehicles. In at least one direction, all three types of processes are self-energizing. Furthermore, each type of structure has a similar composition, but its functions vary slightly. Because of its decent efficiency at braking in the forward direction and ability to work without the use of a power brake booster, the twin leading brake shoe mechanism is the most common in modern vehicles.To know about the Research Methodology :- Request Free Sample Report
Brake Shoe Market Dynamics
The ongoing economic growth, urbanization or residential sector growth, and a variety of supporting government policies are all contributing to the manufacture and use of automobiles in both developed and developing countries around the world. The growing electrification of vehicles has created the demand to develop lightweight automotive brake friction products. This factor is expected to provide a solid foundation for the market's continuous growth during the forecast period. Furthermore, low repair or upgrade costs, comparatively low manufacturing costs and the fact that drum brake systems can be more efficient as a parking brake in a car than disc brakes are likely to fuel brake shoe sales. However, in this period of technical advancement, the customer preference for disc brakes over drum brakes to increase vehicle braking effectiveness is expected to hinder the market growth of brake shoes during the forecast period. Global Sale of Passenger Vehicle, Two-wheeler, and Light Commercial Vehicle (LCV) The brake shoe demand is growing due to an increase in passenger car, two-wheeler, and light commercial vehicle (LCV) sales.
Impact of Covid Pandemic on the Brake Shoe Market:
COVID pandemic is expected to pose a low to moderate impact on the market owing to the effects of a pandemic on the research and manufacturing activities across the globe. Strict government norms and increasing cost of transportation owing to supply chain distortion and lowering of manufacturing activities are the factors considered to slightly declining the market growth of brake shoe services. The market is expected to grow during the forecast period owing to increasing demand in the supply chain and various commercial activities pick up the speed. According to Bosch, the market is decreased rapidly amid the Covid pandemic due to decreasing automotive industry demands in the stringent lockdown conditions. Moreover, the company stated that the market is expected to pose approximately 15% market growth post-pandemic owing to increasing manufacturing activities across the globe and rising supply and demand in the automotive industry.Brake Shoe Market Segment Analysis
By Vehicle Type, the passenger vehicles segment is anticipated to emerge as the fastest-growing segment, registering a CAGR of XX% during the forecast period. In 2023, the passenger car segment led the industry due to high unit sales of 63.73 Mn. The growth of the brake shoe market through this segment is aided by increased passenger car adoption. Similarly, Increase in demand for advanced features, rise in the standard of living, increasing purchasing power capacity, rise in per capita income of individuals, increasing industrialization, changing way of life, and high disposable income is some of the factors for the growth of the brake shoe market globally.By Sales Channel, the aftermarket segment accounted for the largest market share in 2023 and is expected to account for the largest market share during the forecast period. The presence of a well-organized aftermarket industry in emerging countries, as well as the high penetration of automobiles with easy accessibility of parts, low cost, expert technical team, and availability of good service facility and service stations, are expected to fuel the aftermarket sales of automotive PCV vales. Because of socio-economic advancement, there is a growing preference for aftermarket goods in emerging and developed economies, which is expected to drive the growth of this market segment.
Brake Shoe Market Regional Analysis
The Asia Pacific brake shoe market is expected to grow at the fastest rate in the world, with a CAGR of 6.7 per cent. Furthermore, since the Asia Pacific region is relatively cheap in contrast to other regions, major global automakers outsource parts and components from there. In 2023, China and India, for example, accounted for approximately 35% of global vehicle demand. The increasing prevalence of active braking systems, as well as an increase in sales of premium and small cars, are expected to fuel demand. In India, there are a lot of two-wheelers, and the bulk of them have drum brakes rather than dusk brakes. The increasing presence of companies such as ASK Automotive Pvt. Ltd., Robert Bosch GmbH, Brakes India Pvt ltd, and Makino auto industries Pvt ltd in the brake shoe market, as well as their increasing emphasis on both domestic and foreign vehicle market, is expected to increase market competition. Similarly, during the forecast period, North America is predicted to grow at a CAGR of 4.8 %, led by Europe. This can be due to the growing need for better results in inclement weather. Furthermore, the mandatory introduction of ESC technology in all light vehicles, as well as the production of electric vehicles, are driving the brake shoe market in those countries. The objective of the report is to present a comprehensive analysis of the Global Brake Shoe Market to the stakeholders in the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Brake Shoe Market dynamics, structure by analyzing the market segments and project the Global Brake Shoe Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Brake Shoe Market make the report investor’s guide.Brake Shoe Market Scope: Inquire before buying
Global Brake Shoe Market Report Coverage Details Base Year: 2023 Forecast Period: 2024-2030 Historical Data: 2018 to 2023 Market Size in 2023: USD 12.25 Bn. Forecast Period 2024 to 2030 CAGR: 7.8% Market Size in 2030: USD 20.72 Bn. Segments Covered: by Type Leading/Trailing Twin Leading Duo-Servo by Vehicle Type Passenger Vehicle Commercial Vehicle by Sales Channel OEM Aftermarket Brake Shoe Market, by Region
North America (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe) Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (Brazil, Argentina, Columbia and Rest of South America)Brake Shoe Market, Key Players are:
1. Mando 2. ICER 3. Meritor Inc 4. Sangsin 5. Federal-Mogul 6. Brembo 7. TRW 8. Xinyi Auto 9. Bosch 10. Delphi 11. Henan Wanxiang 12. Nsshnbo 13. Akebono 14. Dura International 15. ACDelco 16. MAT Holdings 17. FBK Corporation Frequently Asked Questions: 1. Which region has the largest share in Global Brake Shoe Market? Ans: Asia Pacific region holds the highest share in 2023. 2. What is the growth rate of Global Brake Shoe Market? Ans: The Global Brake Shoe Market is growing at a CAGR of 7.8% during forecasting period 2024-2030. 3. What segments are covered in Global Brake Shoe market? Ans: Global Brake Shoe Market is segmented into Type, Vehicle Type, Sales Channels and Region. 4. Who are the key players in Global Brake Shoe market? Ans: The important key players in the Global Brake Shoe Market are Scholz Recycling GMBH,Schnitzer Steel Industries, Inc.,LKQ Corporation,Toyota Motor Corporation,Eco-Bat Technologies Ltd.,Sims Metal Management Limited,European Metal Recycling (EMR),Hensel Recycling Group. 5. What is the study period of this market? Ans: The Global Brake Shoe Market is studied from 2023 to 2030.
1. Preface 1.1. Market Definition and Key Research Objectives 1.2. Research Highlights 2. Assumptions and Research Methodology 2.1. Report Assumptions 2.2. Abbreviations 2.3. Research Methodology 2.3.1. Secondary Research 2.3.1.1. Secondary data 2.3.1.2. Secondary Sources 2.3.2. Primary Research 2.3.2.1. Data from Primary Sources 2.3.2.2. Breakdown of Primary Sources 3. Executive Summary: Global Brake Shoe Market Size, by Market Value (US$ Mn) 3.1. Global Market Segmentation 3.2. Global Market Segmentation Share Analysis, 2023 3.2.1. Global 3.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 3.3. Geographical Snapshot of the Brake Shoe Market 3.4. Geographical Snapshot of the Brake Shoe Market, By Manufacturer share 4. Global Brake Shoe Market Overview, 2023-2030 4.1. Market Dynamics 4.1.1. Drivers 4.1.1.1. Global 4.1.1.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.2. Restraints 4.1.2.1. Global 4.1.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.3. Opportunities 4.1.3.1. Global 4.1.3.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.4. Challenges 4.1.4.1. Global 4.1.4.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.5. Industry Trends and Emerging Technologies 4.1.6. Porters Five Forces Analysis 4.1.6.1. Threat of New Entrants 4.1.6.2. Bargaining Power of Buyers/Consumers 4.1.6.3. Bargaining Power of Suppliers 4.1.6.4. Threat of Substitute Products 4.1.6.5. Intensity of Competitive Rivalry 4.1.7. Value Chain Analysis 4.1.8. Technological Roadmap 4.1.9. Regulatory landscape 4.1.10. Impact of the Covid-19 Pandemic on the Global Brake Shoe Market 5. Supply Side and Demand Side Indicators 6. Global Brake Shoe Market Analysis and Forecast, 2023-2030 6.1. Global Brake Shoe Market Size & Y-o-Y Growth Analysis. 7. Global Brake Shoe Market Analysis and Forecasts, 2023-2030 7.1. Market Size (Value) Estimates & Forecast By Type, 2023-2030 7.1.1. Leading/Trailing 7.1.2. Twin Leading 7.1.3. Duo-Servo 7.2. Market Size (Value) Estimates & Forecast By Vehicle Type, 2023-2030 7.2.1. Passenger Vehicle 7.2.2. Commercial Vehicle 7.3. Market Size (Value) Estimates & Forecast By Sales Channel, 2023-2030 7.3.1. OEM 7.3.2. Aftermarket 8. Global Brake Shoe Market Analysis and Forecasts, By Region 8.1. Market Size (Value) Estimates & Forecast By Region, 2023-2030 8.1.1. North America 8.1.2. Europe 8.1.3. Asia-Pacific 8.1.4. Middle East & Africa 8.1.5. South America 9. North America Brake Shoe Market Analysis and Forecasts, 2023-2030 9.1. Market Size (Value) Estimates & Forecast By Type, 2023-2030 9.1.1. Leading/Trailing 9.1.2. Twin Leading 9.1.3. Duo-Servo 9.2. Market Size (Value) Estimates & Forecast By Vehicle Type, 2023-2030 9.2.1. Passenger Vehicle 9.2.2. Commercial 9.3. Market Size (Value) Estimates & Forecast By Sales Channel , 2023-2030 9.3.1. OEM 9.3.2. Aftermarket 10. North America Brake Shoe Market Analysis and Forecasts, By Country 10.1. Market Size (Value) Estimates & Forecast By Country, 2023-2030 10.1.1. US 10.1.2. Canada 10.1.3. Mexico 11. U.S. Brake Shoe Market Analysis and Forecasts, 2023-2030 11.1. Market Size (Value) Estimates & Forecast By Type, 2023-2030 11.2. Market Size (Value) Estimates & Forecast By Vehicle Type, 2023-2030 11.3. Market Size (Value) Estimates & Forecast By Sales Channel , 2023-2030 12. Canada Brake Shoe Market Analysis and Forecasts, 2023-2030 12.1. Market Size (Value) Estimates & Forecast By Type, 2023-2030 12.2. Market Size (Value) Estimates & Forecast By Vehicle Type, 2023-2030 12.3. Market Size (Value) Estimates & Forecast By Sales Channel , 2023-2030 13. Mexico Brake Shoe Market Analysis and Forecasts, 2023-2030 13.1. Market Size (Value) Estimates & Forecast By Type, 2023-2030 13.2. Market Size (Value) Estimates & Forecast By Vehicle Type, 2023-2030 13.3. Market Size (Value) Estimates & Forecast By Sales Channel , 2023-2030 14. Europe Brake Shoe Market Analysis and Forecasts, 2023-2030 14.1. Market Size (Value) Estimates & Forecast By Type, 2023-2030 14.2. Market Size (Value) Estimates & Forecast By Vehicle Type, 2023-2030 14.3. Market Size (Value) Estimates & Forecast By Sales Channel , 2023-2030 15. Europe Brake Shoe Market Analysis and Forecasts, By Country 15.1. Market Size (Value) Estimates & Forecast By Country, 2023-2030 15.1.1. U.K 15.1.2. France 15.1.3. Germany 15.1.4. Italy 15.1.5. Spain 15.1.6. Sweden 15.1.7. CIS Countries 15.1.8. Rest of Europe 16. U.K. Brake Shoe Market Analysis and Forecasts, 2023-2030 16.1. Market Size (Value) Estimates & Forecast By Type, 2023-2030 16.2. Market Size (Value) Estimates & Forecast By Vehicle Type, 2023-2030 16.3. Market Size (Value) Estimates & Forecast By Sales Channel , 2023-2030 17. France Brake Shoe Market Analysis and Forecasts, 2023-2030 17.1. Market Size (Value) Estimates & Forecast By Type, 2023-2030 17.2. Market Size (Value) Estimates & Forecast By Vehicle Type, 2023-2030 17.3. Market Size (Value) Estimates & Forecast By Sales Channel , 2023-2030 18. Germany Brake Shoe Market Analysis and Forecasts, 2023-2030 18.1. Market Size (Value) Estimates & Forecast By Type, 2023-2030 18.2. Market Size (Value) Estimates & Forecast By Vehicle Type, 2023-2030 18.3. Market Size (Value) Estimates & Forecast By Sales Channel , 2023-2030 19. Italy Brake Shoe Market Analysis and Forecasts, 2023-2030 19.1. Market Size (Value) Estimates & Forecast By Type, 2023-2030 19.2. Market Size (Value) Estimates & Forecast By Vehicle Type, 2023-2030 19.3. Market Size (Value) Estimates & Forecast By Sales Channel , 2023-2030 20. Spain Brake Shoe Market Analysis and Forecasts, 2023-2030 20.1. Market Size (Value) Estimates & Forecast By Type, 2023-2030 20.2. Market Size (Value) Estimates & Forecast By Vehicle Type, 2023-2030 20.3. Market Size (Value) Estimates & Forecast By Sales Channel , 2023-2030 21. Sweden Brake Shoe Market Analysis and Forecasts, 2023-2030 21.1. Market Size (Value) Estimates & Forecast By Type, 2023-2030 21.2. Market Size (Value) Estimates & Forecast By Vehicle Type, 2023-2030 21.3. Market Size (Value) Estimates & Forecast By Sales Channel , 2023-2030 22. CIS Countries Brake Shoe Market Analysis and Forecasts, 2023-2030 22.1. Market Size (Value) Estimates & Forecast By Type, 2023-2030 22.2. Market Size (Value) Estimates & Forecast By Vehicle Type, 2023-2030 22.3. Market Size (Value) Estimates & Forecast By Sales Channel , 2023-2030 23. Rest of Europe Brake Shoe Market Analysis and Forecasts, 2023-2030 23.1. Market Size (Value) Estimates & Forecast By Type, 2023-2030 23.2. Market Size (Value) Estimates & Forecast By Vehicle Type, 2023-2030 23.3. Market Size (Value) Estimates & Forecast By Sales Channel , 2023-2030 24. Asia Pacific Brake Shoe Market Analysis and Forecasts, 2023-2030 24.1. Market Size (Value) Estimates & Forecast By Type, 2023-2030 24.2. Market Size (Value) Estimates & Forecast By Vehicle Type, 2023-2030 24.3. Market Size (Value) Estimates & Forecast By Sales Channel , 2023-2030 25. Asia Pacific Brake Shoe Market Analysis and Forecasts, by Country 25.1. Market Size (Value) Estimates & Forecast By Country, 2023-2030 25.1.1. China 25.1.2. India 25.1.3. Japan 25.1.4. South Korea 25.1.5. Australia 25.1.6. ASEAN 25.1.7. Rest of Asia Pacific 26. China Brake Shoe Market Analysis and Forecasts, 2023-2030 26.1. Market Size (Value) Estimates & Forecast By Type, 2023-2030 26.2. Market Size (Value) Estimates & Forecast By Vehicle Type, 2023-2030 26.3. Market Size (Value) Estimates & Forecast By Sales Channel , 2023-2030 27. India Brake Shoe Market Analysis and Forecasts, 2023-2030 27.1. Market Size (Value) Estimates & Forecast By Type, 2023-2030 27.2. Market Size (Value) Estimates & Forecast By Vehicle Type, 2023-2030 27.3. Market Size (Value) Estimates & Forecast By Sales Channel , 2023-2030 28. Japan Brake Shoe Market Analysis and Forecasts, 2023-2030 28.1. Market Size (Value) Estimates & Forecast By Type, 2023-2030 28.2. Market Size (Value) Estimates & Forecast By Vehicle Type, 2023-2030 28.3. Market Size (Value) Estimates & Forecast By Sales Channel , 2023-2030 29. South Korea Brake Shoe Market Analysis and Forecasts, 2023-2030 29.1. Market Size (Value) Estimates & Forecast By Type, 2023-2030 29.2. Market Size (Value) Estimates & Forecast By Vehicle Type, 2023-2030 29.3. Market Size (Value) Estimates & Forecast By Sales Channel , 2023-2030 30. Australia Brake Shoe Market Analysis and Forecasts, 2023-2030 30.1. Market Size (Value) Estimates & Forecast By Type, 2023-2030 30.2. Market Size (Value) Estimates & Forecast By Vehicle Type, 2023-2030 30.3. Market Size (Value) Estimates & Forecast By Sales Channel , 2023-2030 31. ASEAN Brake Shoe Market Analysis and Forecasts, 2023-2030 31.1. Market Size (Value) Estimates & Forecast By Type, 2023-2030 31.2. Market Size (Value) Estimates & Forecast By Vehicle Type, 2023-2030 31.3. Market Size (Value) Estimates & Forecast By Sales Channel , 2023-2030 32. Rest of Asia Pacific Brake Shoe Market Analysis and Forecasts, 2023-2030 32.1. Market Size (Value) Estimates & Forecast By Type, 2023-2030 32.2. Market Size (Value) Estimates & Forecast By Vehicle Type, 2023-2030 32.3. Market Size (Value) Estimates & Forecast By Sales Channel , 2023-2030 33. Middle East Africa Brake Shoe Market Analysis and Forecasts, 2023-2030 33.1. Market Size (Value) Estimates & Forecast By Type, 2023-2030 33.2. Market Size (Value) Estimates & Forecast By Vehicle Type, 2023-2030 33.3. Market Size (Value) Estimates & Forecast By Sales Channel , 2023-2030 34. Middle East Africa Brake Shoe Market Analysis and Forecasts, by Country 34.1. Market Size (Value) Estimates & Forecast by Country, 2023-2030 34.1.1. South Africa 34.1.2. GCC Countries 34.1.3. Egypt 34.1.4. Nigeria 34.1.5. Rest of ME&A 35. South Africa Brake Shoe Market Analysis and Forecasts, 2023-2030 35.1. Market Size (Value) Estimates & Forecast By Type, 2023-2030 35.2. Market Size (Value) Estimates & Forecast By Vehicle Type, 2023-2030 35.3. Market Size (Value) Estimates & Forecast By Sales Channel , 2023-2030 36. GCC Countries Brake Shoe Market Analysis and Forecasts, 2023-2030 36.1. Market Size (Value) Estimates & Forecast By Type, 2023-2030 36.2. Market Size (Value) Estimates & Forecast By Vehicle Type, 2023-2030 36.3. Market Size (Value) Estimates & Forecast By Sales Channel , 2023-2030 37. Egypt Brake Shoe Market Analysis and Forecasts, 2023-2030 37.1. Market Size (Value) Estimates & Forecast By Type, 2023-2030 37.2. Market Size (Value) Estimates & Forecast By Vehicle Type, 2023-2030 37.3. Market Size (Value) Estimates & Forecast By Sales Channel , 2023-2030 38. Nigeria Brake Shoe Market Analysis and Forecasts, 2023-2030 38.1. Market Size (Value) Estimates & Forecast By Type, 2023-2030 38.2. Market Size (Value) Estimates & Forecast By Vehicle Type, 2023-2030 38.3. Market Size (Value) Estimates & Forecast By Sales Channel , 2023-2030 39. Rest of ME&A Brake Shoe Market Analysis and Forecasts, 2023-2030 39.1. Market Size (Value) Estimates & Forecast By Type, 2023-2030 39.2. Market Size (Value) Estimates & Forecast By Vehicle Type, 2023-2030 39.3. Market Size (Value) Estimates & Forecast By Sales Channel , 2023-2030 40. South America Brake Shoe Market Analysis and Forecasts, 2023-2030 40.1. Market Size (Value) Estimates & Forecast By Type, 2023-2030 40.2. Market Size (Value) Estimates & Forecast By Vehicle Type, 2023-2030 40.3. Market Size (Value) Estimates & Forecast By Sales Channel , 2023-2030 41. South America Brake Shoe Market Analysis and Forecasts, by Country 41.1. Market Size (Value) Estimates & Forecast by Country, 2023-2030 41.1.1. Brazil 41.1.2. Argentina 41.1.3. Rest of South America 42. Brazil Brake Shoe Market Analysis and Forecasts, 2023-2030 42.1. Market Size (Value) Estimates & Forecast By Type, 2023-2030 42.2. Market Size (Value) Estimates & Forecast By Vehicle Type, 2023-2030 42.3. Market Size (Value) Estimates & Forecast By Sales Channel , 2023-2030 43. Argentina Brake Shoe Market Analysis and Forecasts, 2023-2030 43.1. Market Size (Value) Estimates & Forecast By Type, 2023-2030 43.2. Market Size (Value) Estimates & Forecast By Vehicle Type, 2023-2030 43.3. Market Size (Value) Estimates & Forecast By Sales Channel , 2023-2030 44. Rest of South America Brake Shoe Market Analysis and Forecasts, 2023-2030 44.1. Market Size (Value) Estimates & Forecast By Type, 2023-2030 44.2. Market Size (Value) Estimates & Forecast By Vehicle Type, 2023-2030 44.3. Market Size (Value) Estimates & Forecast By Sales Channel , 2023-2030 45. Competitive Landscape 45.1. Geographic Footprint of Major Players in the Global Brake Shoe Market 45.2. Competition Matrix 45.2.1. Competitive Benchmarking of Key Players By Price, Presence, Market Share, Applications and R&D Investment 45.2.2. New Product Launches and Product Enhancements 45.2.3. Market Consolidation 45.2.3.1. M&A by Regions, Investment and Verticals 45.2.3.2. M&A, Forward Integration and Backward Integration 45.2.3.3. Partnership, Joint Ventures and Strategic Alliances/ Sales Agreements 45.3. Company Profile : Key Players 45.3.1. ICER 45.3.1.1. Company Overview 45.3.1.2. Financial Overview 45.3.1.3. Geographic Footprint 45.3.1.4. Product Portfolio 45.3.1.5. Business Strategy 45.3.1.6. Recent Developments 45.4. Mando 45.5. ICER 45.6. Meritor Inc 45.7. Sangsin 45.8. Federal-Mogul 45.9. Brembo 45.10. TRW 45.11. Xinyi Auto 45.12. Bosch 45.13. Delphi 45.14. Henan Wanxiang 45.15. Nsshnbo 45.16. Akebono 45.17. Dura International 45.18. ACDelco 45.19. MAT Holdings 45.20. FBK Corporation 45.21. Continental 45.22. Ford 45.23. MK KASHIYAMA 1. Primary Key Insights
