DUBLIN--(BUSINESS WIRE)--The "Global Two Wheeler Brake Component Market by Product Type (Brake Shoe, Brake Pad & Brake Caliper), By Vehicle Type (Scooter/Moped & Motorcycle), By Sales Channel (Replacement and OEM), By Region, Competition, Forecast & Opportunities, 2014-2024" report has been added to ResearchAndMarkets.com's offering.

The Global Two-Wheeler Brake Component Market Stood at $6 Billion in 2018 and is Projected to Reach $10.5 Billion by 2024.

Anticipated growth in the market can be attributed to the increasing demand for two-wheelers in developing nations. Moreover, stringent government regulations and mandates with reference to two-wheeler safety, in addition to government initiatives in economies such as China and India aimed to promote two-wheeler safety is further driving the global two-wheeler brake component market.

The main function of a brake component is to reduce the speed and stop the vehicle along with rider control. Two-wheeler braking components, such as brake calliper, brake shoe, and the brake pad, are responsible for producing the braking effect in vehicles. The emergence of anti-lock braking systems (ABS), Combined braking system (CBS) and other technological advancements have gained popularity in the last few years, which is further driving the demand for brake components.

The global two-wheeler brake component market can be categorized based on vehicle type, product type, sales channel and region. Disc and drum are two major brakes used in two-wheelers. In terms of product type, the market for two-wheeler brake component can be segmented into the brake calliper, brake shoe, and brake pad. Disc brake pad segment is expected to grow at a significant rate during the forecast period owing to their high preference and demand in 125cc and above segment. In terms of vehicle type, Scooter/Moped is the largest segment and is likely to continue its dominance during the forecast period as well, on the back of their high demand in emerging nations such as China, India, Indonesia among others.

Globally, two-wheeler brake component market is gaining traction and expanding to various regions including Asia-Pacific, South America, Europe, North America and Middle East & Africa. Asia-Pacific dominates the global two-wheeler brake component market owing to rising two-wheeler production in economies such as India, China, Indonesia and the Philippines.

Major players operating in the global two-wheeler brake component market include Brembo S.p.A., Akebono Brake Industry Co., Ltd, Nissin Kogyo Co., Ltd., Bosch Limited, AC Delco, etc. Major companies are developing advanced technologies and launching new products in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments.

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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900

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