Global Automotive Braking Components Market to Reach $114.4 Billion by 2030
The global market for Automotive Braking Components estimated at US$89.3 Billion in the year 2023, is expected to reach US$114.4 Billion by 2030, growing at a CAGR of 3.6% over the period 2023-2030. Floating Type Brake Caliper, one of the segments analyzed in the report, is expected to record 2.4% CAGR and reach US$69.1 Billion by the end of the analysis period. Growth in the Fixed Type Brake Caliper segment is estimated at 5.7% CAGR for the next 7-year period.
The U.S. Market is Estimated at $23.9 Billion, While China is Forecast to Grow at 5.4% CAGR
The Automotive Braking Components market in the U.S. is estimated at US$23.9 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$23.2 Billion by the year 2030 trailing a CAGR of 5.4% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.3% and 3.1% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 2.7% CAGR.
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