The automobile sector is about to undergo a significant upheaval. Traditional gasoline and diesel automobiles will give way to electrified vehicles during the next few years. Because of the huge change in demand for brakes and brake discs, this will have a considerable effect on the automobile aftermarket. The need for higher fuel efficiency, stricter pollution restrictions, and rising demand for electric vehicles are the main factors propelling the growth of this market. Another reason fueling the expansion of the brake disc market is strict emissions standards. Automakers are increasingly using lightweight materials for their automobiles, such as aluminium and carbon fibre, to comply with these rules. As a result, brakes endure less wear and tear, which increases their lifespan and lowers the need for repairs. As a result, it is anticipated that the demand for brake discs will increase more slowly than in recent years. The demand for greater fuel efficiency is contributing to the expansion of the brake disc market. Automakers are under pressure to increase fuel efficiency in order to comply with stricter emissions rules and rising fuel prices. Also, they are using lighter materials for their cars, like aluminium and carbon fibre. As a result, brakes endure less wear and tear, which increases their lifespan and lowers the need for repairs.
The Drilled Brake Disc Market is required because it is a vital segment of the automobile sector. It is included in the vehicle's braking system and aids in enhancing braking effectiveness. The Market must inform customers about the most recent advancements in the field of drilled brake discs and how they will affect the automobile sector. Additionally, the Market is needed to supply details regarding the Drilled Brake Disc industry's prospects for the future.
A brake disc that has had one or more holes drilled into it is referred to as a drilled brake disc. These holes are being drilled to enhance brake cooling and aid in brake maintenance. Usually made of cast iron or ceramic matrix composite, drilled brake discs (CMC). Both passenger cars and commercial trucks can use them. Additionally, drilled brake discs are used by some race cars to enhance stopping power.
At an estimated CAGR of 6.3%, the global market for drilled brake discs is expected to increase from USD 8.51 billion in 2021 to USD 12.87 billion by 2031.
The necessity for higher fuel economy and the increased demand for lightweight automobiles are credited with driving this growth. It is also anticipated that a rise in luxury vehicle sales, particularly in emerging nations, will fuel industry expansion.
The producers of drilled brake discs encounter a few difficulties. The high cost of raw materials is one of the main issues, and it is somewhat impeding this market's expansion. In addition, the market's expansion is being somewhat constrained by strict government environmental protection legislation. Additionally, the scarcity of skilled workers is impeding market expansion. Furthermore, throughout the anticipated time, there could be more potential for market expansion due to the escalating demand from end-use industries like the construction and automotive sectors.
Aisin Seiki Co., Ltd., Brembo S.p.A., Continental AG, Magneti Marelli S.p.A., Nissin Kogyo Co., Ltd., Sumitomo Electric Industries, Ltd., TRW Automotive Holdings Corporation, and Akebono Brake Industry Co., Ltd. are a few of the prominent competitors in the global Drilled Brake Disc market. To expand their market share and business, these vendors have utilised a variety of techniques. Due to overseas suppliers' superior quality, dependability, and technological advancements, new vendors entering the market are having a difficult time competing.
The Cast Iron Segment emerged as the Most Lucrative Type
Cast Iron and CMC are two market segments based on the kind. During the anticipated period, it is predicted that the cast iron segment would account for the greatest proportion of the worldwide metallic materials market. Cast iron has great resistance to abrasion, corrosion, and general wear and tear. Due to its strength and durability, it is frequently used in the oil & gas, mining, construction, pump & valve, automotive, and pump & valve industries.
The Most Prominent Application is the Passenger Vehicle Segment
The market is divided into two segments based on applications: passenger vehicles and commercial vehicles. During the projection period, it is anticipated that the passenger vehicle segment would account for the greatest market share in the market for metallic materials worldwide. Rapid urbanisation is expected to increase consumer demand for automobiles, SUVs, and other passenger vehicles, which will help the passenger vehicle category grow throughout the projected period.
The Asia Pacific Region to render Ample Financing Opportunities
The market is geographically divided into five key regions: North America, South America, Asia Pacific, Europe, and the Middle East and Africa. Due to growing consumer awareness of health and fitness, the Asia Pacific region is anticipated to grow at a faster CAGR than other geographic areas. The growth of the Asia Pacific market is also anticipated to be aided by the expansion of the wellness sector, rising rates of obesity and sedentary behaviour, and increased demand for health supplements.
COVID-19 Impact and Market Status
The COVID-19 pandemic epidemic has had a significant negative influence on the automotive industry globally, resulting in a drop in sales and production. The demand for vehicles is rising, though, and the automotive sector is slowly recovering. The market for industrial robotics is also predicted to expand over the course of the forecast period. The usage of industrial robots and automation is also changing in the automobile sector. This is thus anticipated to fuel market expansion over the course of the forecast period.
Recent Developments in the Drilled Brake Disc Market
• A new generation of drilled brake discs that are allegedly more resistant to wear and breaking is being developed by ZF Friedrichshafen AG in May 2019. The item is made to comply with the demands of contemporary high-performance cars.
• Brembo makes a comeback to the Formula One world in January 2020. The tender for creating brake discs and callipers for cars competing in the 2021 championship is won by an Italian manufacturer.
• A new style of lightweight aluminium alloy-made drilled brake disc is created by Nisshinbo Holdings Inc. in March 2020. High-performance and racing cars are intended to use the product.
• A new kind of lightweight aluminium alloy-made drilled brake disc is created by Akebono Brake Industry Co., Ltd. in May 2021. High-performance and racing cars are intended to use the product.
Drilled Brake Disc Market Scope
|Revenue forecast in 2031
|USD 12.87 billion
|CAGR of 6.3% during 2021-2031
|Type, Application, Regions
|North America, Europe, Asia Pacific, South America, Middle East and Africa
|Key Players Profiled
|Aisin Seiki Co., Ltd., Brembo S.p.A., Continental AG, Magneti Marelli S.p.A., Nissin Kogyo Co., Ltd., Sumitomo Electric Industries, Ltd., TRW Automotive Holdings Corporation, and Akebono Brake Industry Co., Ltd.
Key Segments of theDrilled Brake Disc Market
Type Overview, 2021-2031 (USD Billion)
• Cast Iron
Application Overview, 2021-2031 (USD Billion)
• Passenger Cars
• Commercial Vehicles
Regional Overview, 2021-2031 (USD Billion)
• Rest of Europe
• Rest of Asia Pacific
• Rest of South America
• Middle East and South Africa