The global automotive brake wheel cylinder market at a CAGR of almost 3% during the forecast period

NEW YORK, Nov. 19, 2019 /PRNewswire/ --

Global Automotive Brake Wheel Cylinder Market: About this market
This automotive brake wheel cylinder market analysis considers sales from both passenger cars and commercial vehicle types. Our study also finds the sales of automotive brake wheel cylinder in APAC, Europe, North America, South America, and MEA. In 2018, the passenger car segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as growing demand for SUVs across the world will play a significant role in the passenger car segment to maintain its market position. Also, our global automotive brake wheel cylinder market report looks at factors such as increase in the adoption of SUVs by consumers and increase in the global sales of medium-and heavy-duty vehicles. However, government regulations for advanced braking technologies, decrease in the sales and production of vehicles globally, and raw material volatility may hamper the growth of the automotive brake wheel cylinder industry over the forecast period.

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Global Automotive Brake Wheel Cylinder Market: Overview
Increase in the adoption of SUVs by consumers
Consumers are increasingly preferring SUVs due to factors such as the comfort and safety level of SUVs, the introduction of low-cost compact and mini SUVs, higher seating capacity, and the off-road capabilities of SUVs. SUVs accounted for about one-third of the global vehicle sales in 2018. Moreover, with the growing demand for SUVs installing drum brakes on rear wheels for reducing the overall cost of vehicles, the need for automotive brake wheel cylinders will also rise in the forthcoming years. This adoption of SUVs by consumers will lead to the expansion of the global automotive brake wheel cylinder market at a CAGR of almost 3% during the forecast period.
Emergence of EPBs
Rising concerns about vehicle safety, comfort, and vehicle electrification have been paving way for the adoption of electric parking brakes in vehicles. EPBs enables the reduction of regular wear and tear of braking components. In addition, EPBs provides added freedom and options for the vehicle manufacturers to design vehicle interiors as it eliminates the need for hand brake levers. Furthermore, increasing initiatives for mandating advanced safety technologies such as electronic stability control in vehicles is likely to create numerous opportunities for drum brake components including the automotive brake wheel cylinders market. This development is expected to have a positive impact on the overall market growth.

Competitive Landscape
With the presence of several major players, the global automotive brake wheel cylinder market is moderately fragmented. This robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading automotive brake wheel cylinder manufacturers, that include Aisin Seiki Co. Ltd., Akebono Brake Industry Co. Ltd., Continental AG, Delphi Automotive Plc, Endurance Technologies Ltd., Hella GmbH & Co. KGaA, Robert Bosch GmbH, Tenneco Inc., Valeo SA, and ZF Friedrichshafen AG.
Also, the automotive brake wheel cylinder market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.

Read the full report: https://www.reportlinker.com/p05827587/?utm_source=PRN

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