US Auto Brake Pads, Shoes and Lining Market to witness highest growth in OTR Vehicles till 2021
According to TechSci Research report, “US Automotive Brake Pads, Shoes & Lining Market, By Vehicle Type, By Demand Category, By Brake Type Competition Forecast & Opportunities, 2011-2021”, US automotive brake pads, shoes & linings market is projected to grow at a CAGR of over 4% during 2016-2021, on account of increasing emphasis on raising vehicle safety standards coupled with growing production as well as sales of vehicles. Moreover, increasing demand for improved performance, safety and functionality at reasonable prices is further anticipated to positively influence the automotive brake pads, shoes & linings market in the US during 2016-2021.
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Automotive industry in the United States accounted for almost 3% of the country’s GDP in 2015. United States has 48 manufacturing facilities of 13 major automobile companies including Ford, General Motors, Toyota, Nissan, Hyundai, Kia, Mitsubishi, etc., located in 39 cities across 14 states. In addition to booming automotive industry, the government’s spending on construction industry in the United States grew at a CAGR of over 8% during 2011-2015 on account of large number of ongoing infrastructural and construction projects in the country. Hence, with the presence of multiple automotive manufacturing facilities coupled with growing sales of light commercial vehicles and OTRs, the demand for automotive brake pads, shoes & linings in the US is expected to increase over the next five years.
“Among brake pads, shoes and linings, brake pads accounted for the largest share in the United States automotive brake pads, shoes & linings market in 2015, and the segment is anticipated to maintain its dominance over the next five years as well. In 2015, the United States automotive brake pads, shoes & linings market was dominated by passenger car segment, followed by light commercial vehicle segment. In the United States, majority of the demand for automotive brake pads, shoes & linings was generated in the replacement market in 2015.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
Browse 7 market data Tables and 35 Figures spread through 136 Pages and an in-depth TOC on "United States Automotive Brake Pads, Shoes & Linings Market"
“US Automotive Brake Pads, Shoes & Linings Market Forecast and Opportunities, 2021’’ has evaluated the future growth potential of United States automotive brake pads, shoes & linings market and provides statistics and information on market structure, policies and regulations in the United States automotive brake pads, shoes & linings market. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyses emerging trends along with essential drivers, challenges and opportunities available in United States automotive brake pads, shoes & linings market.