The wavy edge brake disc market is expanding due to many factors. First off, one of the main drivers of market expansion is the growing demand for passenger automobiles and light commercial vehicles. Second, the market is growing as a result of rising awareness of traffic safety and vehicle maintenance. Thirdly, the market expansion is also being aided by the government's strict laws surrounding car safety. The development of new brake disc materials and technological advancements are also significantly boosting the market's expansion.
Due to the increasing need for lighter and more effective brake discs, the wave-edge brake disc industry is expected to expand over the course of the forecast period. The Wavy Edge Brake Discs are created using a special casting process that gives the brake disc's edge a waved or curved appearance. This layout lessens rotor wear and aids in more efficient heat dissipation. Further, the discs weigh less than conventional brake discs, which improves fuel economy.
A brake disc with a rippled edge or one with serrations is a particular kind of brake rotor. By facilitating improved pad-to-rotor contact, these discs are intended to enhance braking performance. The better cooling and warp resistance of wave edge discs is another benefit. These discs have a greater capacity for heat dissipation than conventional ones, which results in longer pad and rotor life. They also offer superior fade resistance when braking hard.
The high cost of raw materials, strict governmental requirements, and the erratic nature of the automobile sector are the key reasons for the difficulties the waved edge brake disc market is currently experiencing. A significant obstacle for the market for waved edge brake discs is the high cost of raw materials. Cast iron is the primary raw material used to make wavy-edge brake discs. In limited amounts, other metals including copper and aluminium are also used. Due to rising demand from developing nations like China and India, cast iron prices have risen recently. As a result, waved edge brake disc producers now face higher total production costs. Another difficulty the Waved Edge Brake Disc Market faces is strict governmental regulations. To prevent traffic accidents and fatalities, automotive safety regulations are being tightened all over the world. Because of this, improved brake systems are now required, which has increased the cost of brake discs. Another reason that is increasing the cost of production for producers of waved edge brake discs is the tightening of environmental rules regulating car emissions. Another difficulty that the market for waved edge brake discs encounters is the erratic nature of the automobile sector. Because of its high degree of cyclicality, the automobile industry is sensitive to shifts in the state of the economy. Waved-edge brake disc producers may suffer as a result of fluctuations in demand for automobile products. The market is anticipated to expand at a moderate rate during the projected period, nevertheless, as a result of the rising demand for light commercial vehicles and passenger automobiles in developing nations like China and India.
From 2021 to 2031, the market for wavy edge brake discs is anticipated to expand at a CAGR of 4.3%. By the end of 2031, the market is anticipated to be worth USD 10.4 billion.
The rising demand for passenger automobiles and commercial vehicles is the main factor driving the market for waved edge brake discs. It is also projected that increased consumer desire for lightweight automobiles will propel market expansion. An additional element that is anticipated to fuel the market's expansion over the projected timeframe is the growing emphasis on safety features in automobiles.
The wavy edge brake disc market has a number of significant players, and these players have been continuously innovating to keep their positions in this market. Robert Bosch GmbH, Aisin Seiki Co., Ltd., Brembo SpA, Nisshinbo Holdings, Akebono Brake Industry Co., Ltd., Federal-Mogul Corporation, and Hitachi Chemical Co., Ltd. are a few of the top businesses in this market. These businesses have been selected in particular because of their capacity to meet the demands of their customers on a worldwide basis.
The Cast Iron Segment emerged as the Most Lucrative Type
Cast Iron and CMC are two market segments based on the type. The cast iron sector is predicted to have the biggest market share in 2021 and the highest CAGR of 7.6% from 2021 to 2031 among these. Cast iron's strong physical, chemical, and mechanical qualities, including its great resistance to wear and abrasion, are responsible for this market segment's expansion. Additionally, cast iron offers multiple cost-effective solutions for various industries and can be used for a wide range of manufacturing applications.
The Most Prominent Application is the Passenger Vehicles Segment
The market is divided into two categories, Passenger Vehicles and Commercial Vehicles, based on application. Due to a surge in consumer desire for improved security and safety features, the Passenger Vehicle category has the biggest market share of these. Additionally, the need for cosy interiors—which may be met by enhancing cabin acoustics—is anticipated to support the expansion of the passenger vehicle market.
The North American Region to render Ample Financing Opportunities
The market is divided into North America, Europe, Asia-Pacific, South America, and Middle East & Africa based on region. Asia Pacific is the most prosperous market for automotive acoustic materials among these regions. This region's automotive acoustic materials market is expanding as a result of increased demand from nations like China and India. Automobile demand from countries like Thailand, Malaysia, and Singapore has increased dramatically as a result of the growth of the tourism industry. Rapid urbanisation and industrialisation as a result have increased demand for vehicle acoustic materials. Furthermore, due to a large increase in technology breakthroughs and rising expenditures by key companies in this region, Asia Pacific is anticipated to grow at the highest rate throughout the course of the projected period.
COVID-19 Impact and Market Status
The market for waved edge brake discs has been significantly impacted by the COVID-19 pandemic epidemic. Due to the lockdown that has been imposed in numerous countries, the automotive sector is one of the hardest affected industries. It was unable to continue with production, which directly affected the demand for waved edge brake discs. The market is anticipated to rebound in 2021, though, when lockdown limitations gradually loosen and production operations resume.
Recent Developments in the Waved Edge Brake Disc Market
• The largest brake system producer in the world, Akebono Brake Industry Co., Ltd., stated in August 2019 that it has created a new type of brake disc manufactured from carbon fibre-reinforced plastic (CFRP). The new disc provides superior heat dissipation and durability while being much lighter than conventional cast iron discs.
• Ford Motor Company and Aisin Automotive Casting agreed to a supply agreement in January 2019 for cast aluminium brake discs. The agreement will go into force in 2020 and remain in effect until 2029.
• Brembo S.p.A., the leading global manufacturer of automobile components with a focus on braking systems, opened a new production facility in Hangzhou, China, in March 2019. Brembo is now able to provide a full range of goods for Chinese manufacturers in markets like Greater China and Asia Pacific thanks to this introduction. Brembo will now have access to almost 70% of the Chinese light commercial vehicle (LCV) and passenger car market, which is expected to reach 34 million vehicles yearly by 2021.
• Nissan Motor Corporation introduced a completely new Waveroof design in June 2019 that increases aerodynamic performance and fuel efficiency. By rerouting airflow around the vehicle, the Waveroof lessens wind noise and increases fuel efficiency.
• The Waveroof is an option for the 2020 Nissan Rogue and will eventually be offered in further variants.
• At its plant in Karawang, Indonesia, Continental AG announced in July 2019 that it has begun producing its new generation of lightweight brake discs for passenger cars. The brand-new brake discs are constructed from Girodisc, an alloy of aluminium and ceramic.
• Girodisc delivers superior heat dissipation and longevity than conventional cast-iron brake discs while being lighter. Both OEM vehicles and Continental's own line of passenger automobiles will be equipped with upgraded brake discs.
Waved Edge Brake Disc Market Scope :
|Revenue forecast in 2031
|USD 10.4 bn
|CAGR of 4.3 % during 2021-2031
|Type, Application, Regions
|North America, Europe, Asia Pacific, South America, Middle East and Africa
|Key Players Profiled
|Robert Bosch GmbH, Aisin Seiki Co., Ltd., Brembo SpA, Nisshinbo Holdings, Akebono Brake Industry Co., Ltd., Federal-Mogul Corporation, and Hitachi Chemical Co., Ltd.
Key Segments of the Automotive Bushing Technologies Market
Type Overview, (USD Billion)
• Cast Iron
Application Overview, (USD Billion)
• Passenger Cars
• Commercial Vehicles
Regional Overview, (USD Billion)
• Rest of Europe
• Rest of Asia Pacific
• Rest of South America
• Middle East and South Africa