DUBLIN–(BUSINESS WIRE)–The “North America Automotive Backing Plate Market Forecast to 2028 – COVID-19 Impact and Regional Analysis By Brake Types, Brake Material Type, and Vehicle Type” report has been added to ResearchAndMarkets.com’s offering.
The North America Automotive Backing Plate market is expected to reach US$ 146.55 million by 2028 from US$ 117.83 million in 2021. It is estimated to grow at a CAGR of 3.2% from 2021 to 2028.
Functional safety aims to reduce the risks associated with product design and development. Many dangers and possible failures must be addressed with an active system that recognizes and responds to these issues. The ISO 26262 standard specifies which aspects should be examined and safeguarded in the car industry and ensures this avoidance.
The standard also explains how to compute the Automotive Safety Integrity Level (ASIL) based on various parameters, including the likelihood and severity of an injury. The North America automotive backing plate market is expected to grow at a good CAGR during the forecast period.
North America Automotive Backing Plate Market Segmentation
- Based on brake types, the market is bifurcated into disc brakes and drum brakes. In 2020, the drum brake segment held a larger market share.
- Based on brake material type, the market is segmented into aluminum, iron, and others. In 2020, the others segment held a largest market share.
- Based on vehicle type, the market is categorized into passenger cars, light commercial vehicle, and heavy commercial vehicle. In 2020, the passenger cars segment held a largest market share.
- Based on country, the North America automotive backing plate market is fragmented into the US, Mexico, and Canada. The US contributed a substantial share in 2020.
Key Industry Dynamics
- Stringent Automotive Active Safety Regulations
- Enhanced Vehicle Safety with ABS and EBD
- High Development and Maintenance Costs
- Regenerative Braking to Create Lucrative Opportunities in EV Ecosystem
- Growing Demand for Automatic Braking Systems in Vehicles
- Super Circle.
- MAT Foundry Group Ltd.
- Dorman Products.
- ORTHLINGHAUS-WERKE Gmbh.
For more information about this report visit https://www.researchandmarkets.com/r/tx0yti
Laura Wood, Senior Press Manager
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