Flexibility necessary for European brake market players
While the European financial fug continues, brake suppliers are being required to show greater flexibility in their operations. The reactions of brands operating in the sector are shown in this feature to include a drive towards internationalisation – particularly with performance products generating improved revenues in the Americas and Asia Pacific – and a more varied product line-up to suit both OEM and end-user requirements. A new report published by Markets and Markets suggests that the global brake market will “grow to $28,532 million by 2018, as compared to $20,210 million in 2013, with a CAGR of 7.14% from 2013 to 2018. During this period of flux, the report suggests drum brakes will occupy the major share when compared to disc brakes systems, but that demand for discs will increase at a faster rate and slowly surpass the drum brakes market.