India Automotive Brake Pads, Shoes, and Linings Market Forecast and Opportunities, 2020
Automotive industry is one of the main pillars of industrial development in India. India is the seventh largest vehicle producer in the world, with an average annual production of more than 20 million vehicles in 2014. India is also the third largest automotive market in Asia, after Japan and China. At present, almost all major global automobile manufacturers are operating in India. Rising sales of passenger cars, two wheelers, commercial vehicles, three-wheelers and off-the road (OTR) vehicles in the country, have established the country as one of the leading brake friction markets as well. India offers great potential for growth in automotive and allied sectors as the country’s motorization rate is still lower compared to developed economies, which is consequently creating opportunities for brake pads, shoes, and linings manufacturers and suppliers.
According to “India Brake Pads, Shoes, and Linings Market Forecast & Opportunities, 2020”, the market for automotive brake pads, shoes, and linings in the country is forecast to grow at a CAGR of over 11% through 2020. Increase in automotive production and sales, expanding automobile fleet, and continuously rising aftermarket demand are the major market drivers. Two-wheeler automotive brake pads & shoes segment is anticipated to maintain dominance in the overall automotive brake friction market till 2020. India brake pads, shoes, and linings market is highly fragmented and dominated by the unorganized sector. The unorganized sector is substantially larger than other suppliers and primarily caters to the demand for replacement brake pads, shoes, and linings in the country. “India Brake Pads, Shoes, and Linings Market Forecast & Opportunities, 2020” discusses the following aspects:
1. Rane Brake Lining Limited
2. ASK Automotive (P) Limited
3. Sundaram Brake Lining Limited
4. Brakes India Pvt. Ltd.
5. Bosch Chassis System India Limited
6. Automotive Axles Limited
7. Hindustan Composites Limited
8. Allied-Nippon Limited
10. Makino Auto Industries Pvt. Ltd.
11. Federal-Mogul Goetze Limited
12. Ranbro Brakes India Limited
13. Brakewel Automotive Components (I) Pvt. Ltd.