The COVID-19 pandemic has caused supply and manufacturing disruptions in the automotive sector creating uncertainties in every aspect. The change in customer behavior in terms of mobility preferences during this crisis is changing the automotive landscape.
This pandemic situation has shut down many production lines owing to the trade restrictions and closed borders, creating a shortage in required parts and limiting the distribution of supplies. Different enforced measures including the closing of workspaces and dismissal of short-time workers have created a depression in the growth rate of the automotive industry.
The growing fear of recession is estimated to decrease overall sales and revenue. A limited supply of parts coupled with a reduced workforce has forced the leading OEMs to shut down their production. A significant drop in demand has restricted the cash inflow which is highly important in payment of salaries to the workforce. With growing uncertainties around the COVID-19 pandemic, the industry leaders are taking measures to adapt to the situation.
Automotive Wheel Cylinder Market: Introduction:
Automotive wheel cylinder is a constituent of a hydraulic drum-brake system. The automotive wheel cylinders are positioned in each wheels top end. It performs a vital function of bringing the shoes in to contact by exerting a force on the shoes and stops the vehicle. An automotive wheel cylinder is typically connected to the shoes with small bird-beak shaped rods. Furthermore, automotive wheel cylinder consist of two pistons located in each side of the cylinder. Each of the piston is connected to a brake shoe with a shaft and has a rubber seal on it. In the past the automotive wheel cylinder were made of cast iron. However, the cast iron is more prone to rusting, so the market was taken over by aluminum automotive wheel cylinders.
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Moreover, there are two types of automotive wheel cylinders are available in the market including, wheel cylinder with integrated pressure regulator and without integrated pressure regulator. The automotive wheel cylinder is an essential part of a drum brake and needed to be replaced after a certain time period to maintain sufficient performance of brakes. Automotive wheel cylinder are easy to replace and inexpensive, owing to which there are significant growth opportunities for aftermarket component providers in the global automotive wheel cylinder market. However, growing popularity of disc brakes in the vehicles may retrain the growth of the global automotive wheel cylinder market in the forthcoming years.
Automotive Wheel Cylinder Market: Dynamics:
The automotive industry is growing at decent pace across the globe, supported by the hastening global economy. The rising production and sales of vehicles expected to create significant demand for automotive parts and component in the market. The growing automotive production is projected to lay a strong base for the growth of automotive wheel cylinder market over the forecast period. Additionally, the automotive wheel cylinder are inexpensive and easy to replace which is expected to create significant growth opportunities for the aftermarket component manufacturers in the global automotive wheel cylinder market over the forecast period.
However, growing installations of disk brakes in automotive is expected to restrain the growth of drum brakes market. This is anticipated to hinder the market growth of automotive wheel cylinder over the forecast period.
Automotive Wheel Cylinder Market: Segmentation:
Automotive wheel cylinder market can be segmented into product type, vehicle type, sales channel and region.
On the basis of product type, global automotive wheel cylinder market is segmented into:
- Wheel Cylinder with Integrated Pressure Regulator
- Wheel Cylinder without Integrated Pressure Regulator
On the basis of sales channel, global automotive wheel cylinder market is segmented into:
- Original Equipment Manufacturer (OEM)
- Aftermarket
On the basis of vehicle type, global automotive wheel cylinder market is segmented into:
- Passenger Cars
- Light Commercial Vehicles (LCV)
- Heavy Commercial Vehicles (HCV)
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Automotive Wheel Cylinder Market: Regional Outlook:
Asia Pacific region is expected to be the most lucrative region in the market of automotive wheel cylinder owing to growing automotive industry in the region. Emerging economies in the region such as, China, India, etc. are projected to witness significant growth in the automotive wheel cylinder market owing to rising production and sales of automotive vehicles and growing number of automotive manufacturers in the countries. The rising demand for brake components in the North America region is expected to push the growth of automotive wheel cylinder in the regional market.
Europe is expected to have promising growth in the automotive wheel cylinder market owing to expanding automotive industry in the region. Middle East & Africa and Latin America regions are anticipated to register decent growth in the automotive wheel cylinder market over the forecast period.
Automotive Wheel Cylinder Market: Market Participants:
Some of the market participants in the global automotive wheel cylinder market are:
- Continental Automotive GmbH
- Meritor, Inc.
- Bosch Limited
- Holley Performance Products
- AISIN
- Brake Parts Inc LLC.
- Valeo Group
- TBK Co., Ltd.
- Dorman Products
- APC AUTOMOTIVE TECHNOLOGIES
- Federal-Mogul Motorparts LLC
- Protex
The research report presents a comprehensive assessment of the automotive wheel cylinder market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to automotive wheel cylinder market segments such as geographies, application, and industry.
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