Automotive Brake Wear Sensors Market to Grow by 5.57% between 2022 and 2023; Insights on Top Countries such as Germany, among others

NEW YORK, Feb. 6, 2023 /PRNewswire/ — Germany’s auto parts and equipment industry has the highest productivity for engineering and technical personnel in the European Region.  Demand will continue to grow in Germany in the future as current market developments demonstrate a significant increase in demand for technology-based advanced auto parts and types of equipment. Germany boasts unparalleled world-leading manufacturers and suppliers of auto parts and equipment, electrical and electronic materials, components, and equipment across the value chain. These range from microelectronic components to electrical household appliances, automation systems, electronic medical equipment, and automotive electronics. To know more, buy the report!

The COVID-19 outbreak had a severely negative effect on the global automotive components and accessories market’s growth in 2020. Additionally, trade operations were negatively impacted in the first half of 2020 as a result of the rigorous social distance and travel limitations that were put into place. This impacted the expansion of the market for automotive components globally. Worldwide, non-essential goods and services, as well as vehicle parts and accessories, saw a fall in sales. However, vehicle parts and accessories sales soared in 2021 due to the relaxation of the ban on trade and the removal of lockdowns. This is anticipated to result in a rise in demand for automotive parts and accessories throughout the forecast period, which would favorably affect the market expansion of the global automotive components and accessories market. For more insights, Request a PDF Sample!

Germany is one of the top key country contributors to the automotive brake wear sensors market. The global automotive brake wear sensors market is segmented by application (passenger cars and commercial vehicles), product (electronic brake wear sensors and disc brake wear sensors), and geography (North America, Europe, APAC, South America, and Middle East and Africa). The automotive brake wear sensors market is estimated to grow at a CAGR of 6.04% between 2022 and 2027. The size of the market is forecast to increase by USD 1,091.42 million.

The major vendors for the global automotive brake wear sensors market report include Akebono Brake Industry Co. Ltd., Beck Arnley Holdings LLC, BorgWarner Inc., Brembo SpA, CARiD.com, Carlisle Companies Inc., Continental AG, DENSO Corp., FMP Group (Australia) Pty Ltd., General Motors Co, Herth Buss Fahrzeugteile GmbH and Co. KG, Holstein Automotive Group, Mitsubishi Electric Corp., Otto Zimmermann Maschinen und Apparatebau GmbH, PEX German O.E. Parts LLC, Robert Bosch GmbH, SADECA SYSTEMS SLU, Sensata Technologies Inc, Standard Motor Products Inc., and Shandong Frontech Auto Parts Co. Ltd.

The increased end-user concern for vehicle security is notably driving the market growth, although factors such as improper tuning of sensors may impede the market growth.

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Automotive Brake Wear Sensors Market 2023-2027: Key Highlights

• CAGR of the market during the forecast period 2023-2027

• Detailed information on factors that will assist automotive brake wear sensors market growth during the next five years

• Estimation of the automotive brake wear sensors market size and its contribution to the parent market

• Predictions on upcoming trends and changes in consumer behavior

• The growth of the automotive brake wear sensors market

• Analysis of the market’s competitive landscape and detailed information on vendors

• Comprehensive details of factors that will challenge the growth of automotive brake wear sensors market vendors

Table of Contents:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Application

7 Market Segmentation by Product

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

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