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Global Automotive Brake Wheel Cylinder Market to Grow at a CAGR of 4.2% During the Period 2022-2027, Driven by the Emergence of Electric Vehicles

According to a new report by EMR titled, ‘Global Automotive Brake Wheel Cylinder Market Report and Forecast 2022-2027’, the global automotive brake wheel cylinder market is expected to grow at a CAGR of 4.2% during the period 2022-2027, driven by growing EV demand, and continued drum brake use in smaller vehicles.

New generation electric vehicles (EVs), including Volkswagen’s new ID.4 and Europe-only ID.3 models, employ drum brakes on the rear wheels. Drum brakes are considered an ideal solution for EVs such as the ID.4, and offer longer service intervals (of up to 1,50,000 kilometers, which is the effective life of the vehicle). Moreover, drum brake technology has witnessed constant evolution. Continental's ID.4 brake system, for example, is already being used in a half-dozen additional applications for a variety of OEMs. Enhanced efficiency, emergence of alternative fuels, better battery storage, and rising investments have contributed to the growth of EVs. In 2020, global EV sales rose to nearly 43% to over 3.23 million. All-electric cars accounted for over 68% of sales in 2020, the remainder of sales being plug-in hybrids (almost 31 percent). EV demand is expected to rise strongly with several nations seeking to end their dependency on internal combustion engines by 2030. Analyst reports suggest that EVs would account for over 50% of global sales in most vehicle segments by 2035. Thus, the emergence of EVs is expected to boost the market for automotive brake wheel cylinders.

While disc brakes are installed in most modern vehicles, drum brakes are still used in smaller vehicles, generally applied to the rear wheels. Also, several existing older vehicles still carry drum brakes, and parts thereof require periodic replacement. Drum brakes are inexpensive as compared to disc brake systems and used by car manufacturers to reduce cost. Thus, the global automotive brake wheel cylinder market is expected to grow moderately. Growing use of disc brakes is expected to restrict the market.

Key Findings of the Report:

  • Car manufacturers still use drum brakes (usually in the rear wheels of smaller vehicles) as they are inexpensive as compared to disc brakes. This continued use of drum brakes by manufacturers is expected to contribute to the growth of the global automotive brake wheel cylinder market. North America, Europe and Asia are expected to remain key markets.
  • Existing vehicles that carry drum brakes need to get drum brakes components, including wheel cylinders, replaced from time to time. Such need is expected to sustain the market.
  • Drum brakes have been cited as an ideal solution for EVs. Increasing popularity of EVs is expected to stimulate the global automotive brake wheel cylinder market.

Market Analysis by Type, Application, and Region:

  • By type, the market is segmented into Single Piston and Double Piston.
  • By application, the market is classified into Passenger Vehicle and Commercial Vehicle.
  • By region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East and Africa.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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