by Corinne Gangloff
May 10, 2017
North American aftermarket demand for brake shoes, pads, and linings is projected to expand 2.6% per year through 2021 to $1.8 billion, in line with projected market gains for brake parts as a whole. Sales gains will continue to be supported by the constant wear on these parts, resulting in regular replacement. The trend away from the installation of drum brakes toward disc brakes on rear wheels will lead to a change in the product mix in this category. These and other trends are presented in Automotive Aftermarket for Brake Parts in North America, a new study from The Freedonia Group, a Cleveland-based industry research firm.
The US dominates the North American aftermarket for brake shoes, pads, and linings, accounting for 86% of the regional total in 2016. Sales in this nation are buoyed by the rising number of light vehicles in use and the significant number of miles driven annually. According to analyst Reta Sober, “A consumer preference for larger vehicles such as light trucks and SUVs, which require greater stopping power and wear out brake pads and shoes more quickly, boosts overall market value.” This will also contribute to future market gains in the US.
The fastest growth through 2021 will be registered in Mexico, with sales boosted by increases in the light vehicle park. Sales gains will also be supported by a high volume of low-cost imports due to lax regulation of hazardous brake part materials and the lesser durability of these imported products, leading to more frequent replacement.
Automotive Aftermarket for Brake Parts in North America (published 04/2017, 110 pages) is available for $4900 from The Freedonia Group. For further details or to arrange an interview with the analyst, please contact Corinne Gangloff by phone 440.684.9600 or email [email protected].
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