Global Brake Lathes Market Overview:
A brake lathe tool is often used in curing vibrational and noise dampening problems that arise in the disc brake system. Brake lathes change the depth dissimilarities which is considered to prolonged the life of the brakes. Uneven contact of the brake pads with the rotor surface and high brake pad usage for longer time periods are the key factors creating noise problems in the brake pads. Sorting out the problems in brake disc alignments is the key application of brake lathe machines across the globe. The global brake lathes market is expected to register a CAGR of approximately 6% during the forecast period owing to the essentiality of the brake pad restoration services. To know about the Research Methodology :- Request Free Sample Report The report has covered the market trends from 2015 to forecast the market through 2026. 2019 is considered a base year however 2020’s numbers are on real output of the companies in the market. Special attention is given to 2020 and effect of lockdown on the demand and supply, and also the impact of lockdown for next two years on the market. Some companies have done well in lockdown also and specific strategic analysis of those companies is done in the report.
Global Brake Lathes Market Dynamics:
Rising demand for durable and reliable tools for automotive components maintenance and improvements in the braking mechanisms are the factors driving the demand for the products in the market. Moreover, increasing awareness about noise and vibrational issues in the brake pads among consumers are the key demand driver for the market. According to OICA, brake lathes accounted for approximately 25% of market share in terms of unit sales across USA automotive components maintenance sector and 30% among brake pads integration sector. In addition, the elimination of deficiencies from the surface of the rotor is the key application of the brake lathes. Disc brakes comprise of wider surface area and hence, are much better in heat dissipation than drum type of brake system. Besides, water drainage from the system is much faster in disc brakes whereas, drum brakes carry water with them hampering the brake efficiency. Owing to the above dynamics, disc brakes are highly recommendable in brake lathes operation. Moreover, increasing penetration of disc brakes in passenger cars and commercial vehicles across the globe is the key driver adhering to the growth of the brake lathes. Increasing demand for automotive shops in aftermarket integration of products is the factor considered to drive the demand for the brake lathes. According to Auto Care Association (ACA), brake lathes are emerging as an essential piece of shop equipment for brake pedal pulsation curing. ACA has estimated Y-O-Y growth of the brake lathes manufacturing as 17.5% during the forecast period as a vehicle safety is a growing issue across the globe. The high maintenance cost of brake lathes is a key restraining factor for the market. Moreover, brake lathes create a lot of dust at the time of machining a rotor which is considered a harmful subject for the environment-friendliness of the product. More challenges and restraints are given in the report as the bottom-up approach is considered for data analysis. In addition, 2020 data is also considered to derive the growth potential of the market during the forecast period.
Global Brake Lathes Market Segmentation:
Passenger Cars Segment is dominating the Brake Lathes Market:
According to OICA, Increasing demand for passenger cars and ultimately, increasing adoption of brake pad installation across the passenger cars for safety purposes in the automotive manufacturing sector is the key driving factor for the segment growth. Besides, increasing disposable income of the population is expected to adhere to the growth of passenger cars. According to EMA, 53.2 million passenger cars are sold worldwide in the year 2020 which is a dip of approximately 13% from last year’s sales of 2019. Rescheduling of shipments across the globe and growing transportation capabilities of the manufactures across the globe is driving the growth of sales for passenger cars.
Disc Brakes are considered to supplement the growth of Brake Lathes Market:
Increasing demand for active braking machinery and stringent road safety norms are the key factors considered to drive the disc brakes segment in the market. Disc brakes create traction in the surface of wheel and brake drum which is essential for braking. Besides, disc brakes permits excessive stopping power and hence used in sports cars segment also. Disc brakes segment was accounted for approximately 64% market share in 2019 owing to high dynamic stability of disc brakes over drum brakes. According to AMA, more than 300 million units of disc brakes are sold worldwide registering CAGR of approximately 5.7% from year 2018.
COVID Impact on the Global Brake Lathes Market:
According to AMA, owing to the COVID pandemic, the entire supply chain has been crippled and manufacturing facilities across the globe are facing severe issues owing to transportation of the material and increasing the gap between supply and demand. APAC is considered as the most restrained region owing to raw material supply decrement and rising US -China trade war in the period of a pandemic. Moreover, demand for passenger cars have also been hampered amid the pandemic and as result, all equipment manufacturing companies and SMEs have stated a loss of approximately 18 billion USD in the 3rd and 4th a quarter of 2020 and 1st and 2nd quarters of 2021. The growing trend of E-commerce emulsification across the equipment manufacturing industries and changing consumer trend towards disc brakes adoption are the factors driving the demand for the product in the market during the forecast period. In addition, the automotive equipment manufacturing industry is estimated to grow at a CAGR of approximately 5% during the forecast period. The above factors are estimated to increase the demand for brake lathes across the globe post-pandemic.
Global Brake Lathes Market Regional Insights:
The Asia Pacific is dominating the market in terms of unit sales and manufacturing owing to plentiful provisions of raw material in China and India for raw manufacturing is attracting the key players in the market towards the region. Moreover, the inclination of regional manufacturers towards automation is the key demand driver for the product. In addition, key players including HUNTER, Ranger, and others are progressively investing in APAC market owing to the highly emerging economy of APAC and growth factors for automotive manufacturing in the region. North America is anticipated to pose as the prominent region in the Brake Lathes Market owing to well established automation across various industries in the region and implementation of disc brakes. The USA holds approximately 60% share in the region owing to the abundance of prominent players in the region and growing adoption of passenger cars in the consumers. Europe holds the prominent share in the market owing to high technological adoptions and growing equipment manufacturing sector across the region. According to EU AMA, clean energy technology adoptions and increasing awareness of disc brakes system efficiency across the consumers in the region is the key factor considered to drive the growth of the brake lathes in the market. The objective of the report is to present a comprehensive analysis of the Global Brake Lathes Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the Global Brake Lathes Market dynamics, structure by analyzing the market segments and project the Global Brake Lathes Market size. Clear representation of competitive analysis of key players by Type, price, financial position, Type portfolio, growth strategies, and regional presence in the Global Brake Lathes Market make the report investor’s guide
Global Brake Lathes Market Scope:Inquire before buying
Global Brake Lathes Market, by Region
• North America o US o Canada o Mexico • Europe o U.K o France o Germany o Italy o Spain o Sweden o CIS Countries o Rest of Europe • Asia Pacific o China o India o Japan o South Korea o Australia o ASEAN o Rest of Asia Pacific • Middle East and Africa o South Africa o GCC Countries o Egypt o Nigeria o Rest of ME&A • South America o Brazil o Argentina o Rest of South America
Global Brake Lathes Market Key Players
• BendPak, Inc. • HOFMANN GmbH • AUTOPRO-UP Co. Ltd. • HUNTER Engineering Co. • JPW Industries, Inc. • Henessey Industries LLC • Pro-Cut International • Interequip Pty Ltd. • Robert Bosch GmbH • AMMCO • JET • Qingdao Carlife Automobile Equipment Co. Ltd. • ACCU-TURN • Atlas Auto Equipmnet • Multipro Machines Pvt. Ltd. • Sino Star Automotive Equipment Co. Ltd.
1. What is the global Brake Lathes market share in 2020? Ans: Approximately, 650 million USD. 2. Which application segment is leading the Brake Lathes market? Ans: Disc brakes segment is considered to dominate the market owing to increasing demand for active braking machinery and stringent road safety norms. 3. Who are the top companies in Global Brake lathes manufacturing market? Ans: Bendpak, Inc., HOFMANN GmbH, AUTOPRO-UP Co. Ltd., HUNTER Engineering Co., JPW Industries, Inc., Henessey Industries LLC, Pro-Cut International, Interequip Pty Ltd., Robert Bosch GmbH, AMMCO, JET, Qingdao Carlife Automobile Equipment Co. Ltd., ACCU-TURN and others. 4. Which region is expected to dominate the HVAC VRV market during the forecast period? Ans: Asia Pacific dominates the HVAC VRV market owing to high raw material and raw first copy production across the regions of China, India and others. Moreover, inclination of regional manufacturers towards automation is the key demand driver for the product. 5. What is the key driving factor for the growth of the HVAC VRV market? Ans: Rising demand for durable and reliable tools for automotive components maintenance and improvements in braking mechanism are the factors driving the demand for the products in the market.