News28-15 Drum brake market estimated to grow

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News28-15 Drum brake market estimated to grow

Postby Krauss » Thu 2. Apr 2015, 10:15

Source : Mikro Market Monitor on PRWeb

The global drum brake market is estimated to grow at a CAGR of 6.4% over a period of 2013 to 2018, due to the overall growth in the light commercial vehicles (LCV). The growing small-scale business is increasing the need for LCVs in various regions, which is the primary reason for growth in the market.

The demand for vehicles is increasing globally at a promising rate. Improved standard of living and increased buying power drives the growth of the automobile market. As the drum brake is a key part of any vehicle, the market for them is estimated to grow at a promising rate in the coming years. The vehicle production in Asia-Pacific, Europe and North America is estimated to increase in the next five years. Hence, it is projected that the market for drum brake will also increase in the next five years.

Top Players of the Drum brake market are:
Aisin Seiki
TRW
Akebono Nissin Kogyo
Brembo S.P.A

Best regards - Peter Krauss

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