Automotive Brake Pad Market - Generate Massive Revenue In Upcoming Future 2019–2027

According to the report, the global automotive brake pad market is projected to reach ~US$ 5.4 Bn by 2027, expanding at a CAGR of ~5% during the forecast period. The global automotive brake pad market is likely to be driven by an increase in penetration of disc brakes among all vehicle segments.

Rise in number of young consumers with preference for high-speed vehicles is driving the demand for prompt and responsive brakes. Emphasis by governments across the globe on pedestrian safety and rise in awareness about safety and maintenance of vehicle brake systems among consumers are propelling the global braking component market. Increase in demand for high-performance vehicles is further fueling the global automotive braking component market.

Expansion of Automotive Brake Pad Market

Rise in sales of SUVs in North America and Europe and the preference of consumers in these regions for driving on off-terrain have boosted the demand for robust braking systems. Increasing preference among consumers for quieter and smoother functioning brakes has boosted the adoption of ceramic and organic brake pads.

Disc brakes offer shorter stopping distance and are considered more responsive to emergency braking. Lack of external casing in these brakes allows easy dissipation of heat. Aftersales servicing is much simpler and faster for disc brakes and hence, these brakes are preferred in passenger vehicles. Shift from rear drum brakes to rear disc brakes in lower segment vehicles in Asia Pacific and Latin America is estimated to drive the demand for disc brakes.

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Numerous heavy duty trucks are also opting for disc brakes. This, in turn, is anticipated to boost the automotive brake pad market. Brakes undergo significant wear & tear, which is likely to compromise occupant safety. Consequently, these need to be replaced and hence, the automotive braking system has high aftermarket potential. Rise in consumer awareness about periodic maintenance and entry of OE manufacturers in aftermarket channels are boosting the aftermarket segment of the automotive braking systems market.

Rise in vehicle production in developing countries, such as China, Brazil, Mexico, and India, is driving the brake pad market in these countries. High demand for commercial vehicles due to GDP growth and improvement in infrastructure are boosting the demand for brake pads.

Consistent rise in penetration of premium vehicles across different countries, including China, Germany, Japan, France, the U.K., and the U. S., is a prominent factor driving the global automotive brake pad market. Moreover, high emphasis on improvement of safety is prompting manufacturers to prefer disc brakes over drum brakes. Mandate for implementation of ABS among passenger vehicles in several countries such as Germany, the U.K., and India is significantly boosting the penetration of disc brakes. This, in turn, is propelling the market for automotive brake pads in these countries.

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Based on OEM, the passenger vehicle segment held a major share of the global market. It is likely to dominate the market for automotive brake pad during the forecast period owing to higher penetration of disc brakes along with high production of passenger vehicles. In terms of aftermarket, the commercial vehicle segment is estimated to expand significantly as commercial vehicles are utilized continuously and brake pads wear out faster in these vehicles, as compared to those in passenger vehicles.

Regional Analysis of Automotive Brake Pad Market

In terms of region, the global automotive brake pad market has been divided into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific held a prominent share of the global market in 2019. The region accounted for nearly half the global market due to higher production of vehicles in China and Japan. The adoption and production of electric vehicles in China is higher, as compared to that in other countries, owing to government incentives and norms, which in turn is likely to further boost the automotive brake pad market in the region.

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Automotive Shock Absorber Market - Detailed Analysis of Current Industry Figures with Forecasts Growth By 2027

According to the report, the global automotive shock absorber market is projected to surpass ~US$ 15 Bn by 2027, expanding at a CAGR of ~5% during the forecast period. This can be attributed to the increase in affordability for vehicles among consumers and transition of people into middle and upper middle income groups. The automotive shock absorber market is mature; however, developments on improving performance of shock absorbers are still boosting the market worldwide.

Expansion of Automotive Shock Absorber Market

Expansion of the automotive industry in Asia Pacific and Latin America is driving the global automotive shock absorber market. The automotive industry in Asia Pacific has been expanding since the last decade. The auto industry in Japan is highly mature; however, China, India, and South Korea have made rapid advances in terms of volume production of vehicles and subsequently, drive the automotive shock absorber market.

Improvement in infrastructure and easy availability of finance in Asia Pacific and Latin America region are likely to boost sales of vehicles and consequently drive the automotive shock absorber market. Moreover, increase in average age of vehicles, globally, is boosting the aftermarket demand for shock absorbers. Average age of vehicles in the U.S. has reached 11.8 years. Owning of vehicles for prolonged periods is set to boost the demand for maintenance and thereby, boost the sales of shock absorbers.

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Automotive Shock Absorber: Market Segmentation

In terms of OEM, the passenger vehicle segment dominated the global automotive shock absorber market in 2019. Increasing trends toward utility vehicles and luxury vehicles in conjunction with a rise in the demand for comfort and luxury among consumers globally is anticipated to propel the global automotive shock absorber market. Therefore, the OEM segment is anticipated to hold a notable share of the global automotive shock absorber market.

Based on aftermarket, the passenger vehicle segment accounted for a notable share of the market, owing to replacement of shock absorbers due to leakage, compromised damping, and wear & tear. The shock absorber has a shelf life of 50,000 miles; subsequently, its replacement becomes a necessity. This, in turn, is boosting the aftermarket segment.

Regional Analysis of Automotive Shock Absorber Market

In terms of region, the global automotive shock absorber market has been segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific held a significant share of the global automotive shock absorber market in 2019 owing to high production of vehicles and rising demand for premium and luxury vehicles among developing countries in the region. The global automotive shock absorber market is directly influenced by vehicle production and sales. Europe followed Asia Pacific, in terms of revenue, in the global automotive shock absorber market, while Europe was followed by North America in terms of share of the global market.

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Prominent players operating in the automotive shock absorber market include Brinn Inc., BWI Group, Continental AG, Datsons Engineering Works Pvt. Ltd., DMA Sales, Inc., Duroshox, Endurance Technologies Limited, FCS Auto, Halla Holdings Corp., Hitachi Automotive Systems, Ltd., Kobe Suspensions, KYB, LEACREE Company, Magneti Marelli S.p.A., QBAutomotive, Ride Control, LLC, Robert Bosch GmbH, Samavardhana Motherson Group, Tenneco Inc., and ZF Friedrichshafen AG.

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Car E-hailing Market - Growth, Latest Trend & Forecast 2025

Car e-hailing is a process by which the customer request for the passenger vehicle by means of an electronic device such as a mobile, computer, laptop, and tablet. Cars used in an e-hailing service are precisely designed for meeting the desired requirements such as high utilization, additional mileage, robustness, and passenger comfort.

Car E-hailing Market: Drivers and Restraints

The increasingly fast-paced lifestyle of people and the rising necessity to reach a particular destination at the earliest is expected to drive the car e-hailing market during the forecast period. Increasing technological advances such as the usage of smartphone apps, navigation systems, and social media in order to book a car for a ride is simplifying the process of commuting. This is likely to boost the car e-hailing market in the near future. The inconvenience caused by utilizing public transport such as buses, trams or trains in times of urgency can be easily avoided by hailing a car online in order to reach the desired destination. This is anticipated to propel the car e-hailing market in the next few years.

However, car e-hailing requires more number of commuters and in certain situations such as after a concert or during heavy rains, where a large number of people leave a certain place at the same time, car e-hailing cannot be a practically feasible solution since several people are trying to leave the place at the same time. 

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Car E-hailing Market: Key Segments

The global Car E-hailing Market can be segmented based on distance of commuting, vehicle, device, internet connectivity, and region. In terms of distance of commuting, the car e-hailing market can be segmented into short-distance ride and long-distance ride.

Based on vehicle, the car e-hailing market can be divided into micro mobility vehicles, mini mobility vehicles, sedan, premium vehicles and SUV (sport utility vehicles).  The micro mobility segment is expected to expand at a remarkable growth rate during the forecast period owing to the ability of micro mobility vehicles to find their way through small spaces in crowded cities and thus, ensuring faster travel of the commuter.

Based on the device used, the car e-hailing market can be classified into GPS navigation devices, smartphones, and computers or laptops. The GPS navigation devices segment is expected to expand at a rapid pace during the forecast period. This is primarily attributed to the convenience of hailing a car through the usage of GPS navigation devices which provide the exact location of the car with respect to the commuter. GPS navigation devices help both the commuter and the car driver in exactly locating each other.

Based on internet connectivity, the car e-hailing market can be segregated into 3G, 4G, 5G, Wi Fi, cloud and broadband. The Wi Fi segment is anticipated to expand at a significant growth rate during the forecast period owing to the numerous advantages such as faster connectivity, provision to allow users to access network resources from nearly any convenient location within their primary networking environment, and a nearly constant affiliation of users with their desired network even if they move from place to place, which are provided by Wi Fi over other means of connectivity.

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Based on geographical region, the car e-hailing market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America and Europe witness a high number of car owners However, the people in some countries of Asia Pacific have been witnessing a gradual transition in their lifestyle due to the rapid urbanization and industrialization in recent years. The increasingly hectic lifestyle of people in the developing countries of Asia Pacific is expected to propel the car e-hailing market during the forecast period.

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Farm Tractor Market - Insights On Current Scope 2026

According to a new market report published by Transparency Market Research titled “Farm Tractor Market (Less than 40 HP, 40 HP – 80 HP, 81 HP – 120 HP, 121 HP – 180 HP, 181 HP – 250 HP, More than 250 HP) – North America and Europe Industry Analysis, Size, Share, Growth, Trends and Forecast, 2019 – 2027,” the North America and Europe Farm Tractor market is expected to record sale volume of 650 thousands tractors by 2027. Furthermore the farm tractor market in the region is estimated to expand at a CAGR of 3.88 % during the forecast period from 2019 to 2027. Increasing demand for food, favorable government policies, growing farm mechanization and hobby farming are the key factors driving the growth of the farm tractor market in the region.

Comparing the two regions, North America farm tractor dominated the market in 2018 in terms of unit shipments. The market revenues from North America farm tractor market is estimated to be US$ 5.4 Bn in 2019. This is owing to positive growth in the U.S. farm tractor market which witnessed huge demand for medium tractors in below 40 HP- 80 HP horsepower category. However, higher horsepower segments exhibited marginal volume growth in the country.

Conversely, farm tractor market in Canada is estimated to witness steep decline in the shipments. This is owing to the frequent fluctuations and weakening of Canadian dollar. The farm tractor market across all the horsepower segments is estimated to witness a dip in 2019 as well. Moreover, all the major tractor manufacturers witnessed tough time in maintaining their market shares in the Canada, as large volume of local demand is met through imports, which escalates proneness to currency fluctuation.

In 2018, Europe farm tractor market recorded shipments of 281 thousand units with Germany being the top contributor followed by France and the U.K. Additionally, Italy is anticipated to be a major contributor in the rest of Europe farm tractor segment. European countries including the U.K, Finland and the Netherlands, have relatively large (area) farms, and therefore farm tractor market above 40 HP is estimated to exhibit significant market share in these countries.

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However, in other European countries including Germany, small and compact tractor segment is anticipated to dominate the market. The presence of large farms, although in few numbers, is anticipated to generate demand for higher horsepower tractor segment during the forecast period till 2027. 

Farm tractor prices across all the horsepower segments witnessed high fluctuations in the Europe market as well. This is owing to frequent price adjustments from major farm tractor manufacturers to maintain their market shares in the region amidst weak sales forecast. Tractor manufacturers are also working towards incorporating new technologies so as to differentiate their offering from others while adding value to products and services being delivered. This is seen as key strategy in the long run for players to retain their competitive position. Moreover, with expected proliferation of smart technologies in agricultural applications, this is seen as more of a need then the strategy to ensure sustainable growth in the long run.

The key players in the North America and Europe farm tractor market, profiled in the study include Deere and Company, CNH Industrial N.V., Kubota Corporation, SDF Group, AGCO Corporation, Class KGaAmbH, and Mahindra USA Inc. among others. It is estimated that these major players contributes more than 85% of the total farm tractor market in North America and Europe. Other players in the North America and Europe farm tractor market include Daedong USA, Inc., Argo Tractors S.P.A. and International Tractors Ltd. These players are focused on offering quality products at cost competitive prices.

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Cold Milling Machine Market - Key Regions, Company Profile, Opportunity and Challenge 2027

Transparency Market Research delivers key insights on the global cold milling machine market. In terms of revenue, the global cold milling machine market is estimated to expand at a CAGR of ~4% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in the global cold milling machine market report.

In the report, TMR predicts that the global cold milling machine market would be largely driven by factors such as increase in road construction and road maintenance activities. Rise in demand for multifunctional characteristics of cold milling machines, use of advanced technology, and penetration in developing nations are set to drive the global cold milling machine market during the forecast period.

According to the cold milling machine market report, the size segment includes small (milling width less than 1 meter), medium (milling width 1 meter to 2 meter), and large (milling width 2 meter); the engine power segment includes less than 155 kW, between 155 kW to 300 kW, and above 300 kW. The application segment includes asphalt road and concrete road. Based on type, medium cold milling machines account for major share. The development of transport infrastructure in various countries contributes maximum to this segment. Maximum investment is for building and maintenance of roads. The segment is projected to expand at a significant rate in the near future.

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Manufacturing companies are upgrading cold milling machines with latest technologies. The aim of manufacturers is to use technology to simplify the operator’s job, improve quality of milling, increase machine performance, optimize the operating cost, and protect the environment. Several manufacturers are upgrading the existing machines with latest technology and according to new regulations. Technologically advanced machines are likely to be one of the driving factors of the cold milling machine market during the forecast period.

The cold milling machine market may be affected due to rising cost of land. Changing global climate and increase in natural disasters may restrain road building activities. The current global scenario has very few manufacturers of cold milling machines; demand for the machines and its related services are set to increase during the forecast period. Developing nations are focusing on infrastructure development and investing in various projects through public private partnerships. Global companies have extended their geographies to developing regions. All these factors are projected to drive the cold milling machine market during the forecast period.

Cold Milling Machine Market: Prominent Regions

Asia Pacific holds major share of the global cold milling machine market, followed by North America. Key players largely depend on geographical expansion, promotions, and technological advancements to cater to customer demand and gain a competitive edge in the global cold milling machine market.

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Asia Pacific accounted for approximately 40% share of the global cold milling machine market in 2018, followed by North America and Europe. It is anticipated to maintain its dominance in the market during the forecast period. This is due to rapid industrialization and urbanization in the region. The Belt and Road initiative expected to connect Asia with Africa and Europe via road and water is projected to generate more options for business growth.

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Change In Fashion Trends To Boost The Growth of Global Eyewear Market

As per the recent TMR report, the global eyewear market was valued at US$ 155,652.3 Mn in 2018 and is forecasted to expand at a CAGR of 8.30 % from 2019 to 2027.It is estimated to reach a value of US$ 319,015.5 Mn by 2027.

In terms of geography, the global eyewear market is segmented into five major regions namely North America, Asia Pacific, Europe, South America and the Middle East and Africa. North America currently holds the lead in the global eyewear market. In the near future as well the regional market is anticipated to rise at steady pace. This due to rising disposable income of people in the region. On the basis of segments online segment to report a higher CAGR during the course of the forecast period.  

Ongoing fashion trends of wearing designer eyewear has emerged as one unconventional drivers of the global eyewear market. The trend is mainly because of the changing lifestyle of the consumers owing to the rising disposable income of the consumers. The growing inclination of the consumers of towards branded eyewear products will pave way for the market to capitalize on lucrative prospect.  Siting the trend, the key players of the global market trying to lure the customer with designer and cost effective product launches. While, majority of the companies adopting product branding approach to seek customer attention. 

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Increased Trend In Usage Of Contact Lenses And Sunglasses Will Create New Market Avenue

Contact lenses and sunglasses are the most comfortable daily wear which is expected to trend upward. Easy availability of the contact lenses at reasonable price is accelerating the market growth across the global level.

Increasing Investment By Eyewear Manufacturing Process Will Lead To Technical Advancements And Transition

Owing to the strong presence of multiple prominent eye wear players such as Magrabi, Signature, Fielmann, Luxottica, Safilo. Zeiss International and Essilor International, the degree of competition in the global eyewear market is high. All the players are continuously investing in current market to enhance their market presence.

Luxottica and Essilor International agreed upon the investment of US$ 49 Bn merger to build a global eyewear powerhouse with annual revenue of more than US$ 16.5 bn to collaborate on eyewear business with Marcolin.

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High level of fragmentation on account of presence of plethora of companies is expected to shape the competitive contours of the global eyewear market, finds Transparency Market Research (TMR). Some of the predominant players present in the global eyewear marker are Bausch & Lomb Inc., Essilor International, Luxottica Group S.p.A., Zeiss International, Marchon Eyewear and Johnson & Johnson Vision Care. Major players in the market are focusing on product innovation and acquisitions along with partnerships to expand their business.  

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Glass Tableware Market - Opportunities in Key Application Sectors by 2027

According to a new market report published by Transparency Market Research titled “Glass Tableware Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 – 2028,” the global glass tableware market is expected to reach US$ 10.8 Bn by 2027, expanding at a CAGR of 2.9% from 2019 to 2027. Asia Pacific held the highest market share in the glass tableware market in 2027.

The Glass Tableware Market report provides an analysis of the global glass tableware market for the period 2017 – 2026, wherein 2018 is the base year and 2019 to 2027 is the forecast period. Data for 2017 has been included as historical information.

The report covers all the prevalent trends and technologies playing a major role in the growth of the market over the forecast period. It also highlights various drivers, restraints, and opportunities expected to influence the market growth during the said period.

Growth of the hotel & catering industry is projected to drive demand for glass tableware in the near future. Increase in investments in the hotel & catering industry in emerging countries such as India and China has fueled the growth of the glass tableware industry. Moreover, glass tableware products are widely used in the hotel & catering industry. Furthermore, rise in disposable income of consumers has resulted in increase in expenditure on travel and tourism. This in turn boosts the growth of the hotel industry.

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The tableware industry is set for an explosion and is ready to witness many innovations in terms of design and material, driven by changes in fashion, lifestyle, economic conditions, and demographic factors. Tableware manufacturers are experimenting with different shapes, colors, materials, and textures to attract consumers. There is an increased demand for visually appealing as well as functional tableware.

Beverageware segment includes tea pots, coffee or tea jugs, pitchers, and coffee brewers. Unlike plastic products, glass beverageware contain no harmful chemicals and are safer to use. Consumers are shifting from plastic products to glass beverageware which is contributing to the growth of this segment

Transition in the lifestyle and rise in disposable income is responsible for the growth of this segment. With rapid urbanization, purchasing behavior of consumers and adoption of trendy lifestyles are leading to the high demand for tableware products. The tableware segment is classified into glass, cups, and mugs. The others segment is divided into cookpots, roasters, casseroles, bakeware, bowls, food warmers, and measuring jugs.

North America and Europe are anticipated to account for major market share due to sophisticated lifestyles and high spending rate. Increase in demand for glass tableware products in Europe and North America will result in the increased production of these products. Also, these regions will remain the prime markets for tableware products due to vast distribution networks.

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Asia Pacific accounted for around 35% of the global glass tableware market in 2018 and is anticipated to continue its dominance over the forecast timeline. Europe has the largest middle class population in the world, followed by Asia Pacific and North America. The middle class population in Asia Pacific is expected to rise due to economic development in this region. The consumption rate of glass tableware products is higher in EMEA and Asia Pacific as compared to other regions.

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