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The automotive brake shims market in Europe is expected to grow from US$ 138.24 million in 2021 to US$ 183.33 million by 2028. It is estimated to grow at a CAGR of 4.1% from 2021 to 2028.
The Business Market Insights provides you regional research analysis on “Europe Automotive Brake Shims Market” and forecast to 2028. The research report provides deep insights into the regional market revenue, parent market trends, macro-economic indicators, and governing factors, along with market attractiveness per market segment. The report provides an overview of the growth rate of the Europe Automotive Brake Shims market during the forecast period, i.e., 2021–2028.
The rising passenger and commercial vehicle sales are fostering the automotive brake shims market growth. As the demand for vehicles increases, the interest of regulatory bodies in rolling out necessary regulatory mandates for ensuring vehicle safety is also rising. Moreover, fatalities caused due to vehicle accidents are encouraging government bodies to introduce new norms for vehicles and road safety. As a poor braking system is one of the key causes of road accidents, establishing proper norms for using friction materials and braking systems is necessary.
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Since November 2016, the replacement of brake discs on newly registered vehicles should comply with the ECE R90 (i.e., ECE Regulation 90 or Economic Commission for Europe Regulation 90) quality standard. This quality standard is implemented across the European Union and in non-European countries. Since November 1, 2016, all passenger cars of every model have ECE R90 brake discs and drums. Companies such as MEYLE provides brake discs that already comply with the new standard. Similarly, ZF Aftermarket is also producing with new ECE R90.
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The Europe automotive brake shims market is segmented on the basis of material, application, and country. Based on material, the market is segmented into rubber coated, PSA material, thermoset material, and others. In 2020, the others segment held a larger the largest share of the market; and it is also expected to register a higher the highest CAGR during the forecast period. Based on application, the Europe automotive brake shims market is segmented into two wheeler, passenger vehicle, and commercial vehicle. In 2020, the passenger vehicle segment held the largest market share of the market in this region; and it is also expected to register the highest CAGR in the market during the forecast period. Based on country, the Europe automotive brake shims market is segmented into Germany, France, Italy, the UK, Russia, and Rest of Europe. In 2020, Germany held the largest market share; and France is expected to grow at the fastest CAGR during the forecast period.
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The research on the Europe Automotive Brake Shims market focuses on mining out valuable data on investment pockets, growth opportunities, and major market vendors to help clients understand their competitor’s methodologies. The research also segments the Europe Automotive Brake Shims market on the basis of end user, product type, application, and demography for the forecast period 2021–2028. Comprehensive analysis of critical aspects such as impacting factors and competitive landscape are showcased with the help of vital resources, such as charts, tables, and infographics.
This report strategically examines the micro-markets and sheds light on the impact of technology upgrades on the performance of the Europe Automotive Brake Shims market.
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