Global Industry Analysts, Inc. - Influencer Driven AI Powered Real-Time Market Intelligence

The global Automotive Aftermarket Brake Friction Parts market is projected to reach US$5.3 billion by 2024 , driven by aging vehicle parc and parallel opportunities for the aftermarket business. Though being a small part of an automobile, brake system is an essential component of a vehicle and plays an important role in its normal functioning. An efficient brake system helps the driver to keep the vehicle under control, slow it down and halt the vehicle whenever necessary by converting its kinetic energy into heat. The quality of the brake system determines overall safety of the vehicle. Brakes often utilize ‘friction’ to transform kinetic energy into heat. The brake friction part of an automobile slows down or stops a vehicle by converting kinetic energy into heat energy via friction. The friction part of a drum brake is called the brake shoe while that of disc brake is called the brake pad. In drum brake, the friction is caused when a set of brake shoes presses against inner su...

The global market for Motorcycles, Scooters and Mopeds is projected to reach 66.4 million units by 2024 , driven by rapid urbanization, growing vehicle PARC, inadequate road infrastructure and public transport facilities in developing markets and the ensuing focus on convenient features, economic and environmental benefits offered by two wheeled vehicles. Powered two-wheelers fulfill a strong need for convenience, speed, and personal mobility. Divided into three segments, the powered two-wheelers market is replete with instances of changing market patterns. The last two decades have comprehensively transformed global powered two-wheelers market with demand often outgrowing expectations, beating market calculations. Global motorcycles, scooters and mopeds market is poised to expand in the coming years. Rising personal mobility needs of the growing global population, increasing number of young and middle class population, rising employment rates and improving disposable incomes are...