Automotive Brackets Market Overview
pandemic the overall sales were hampered and the demand drastically declined in 2020. However, it is estimated that the market will show positive growth from 2021 onwards. The steady growth in the demand of passenger cars will benefit the demand for automotive brackets in the coming years.
What is Driving Demand for Automotive Brackets?
The growing consumer demand for advance technologies in automotive and the surging sales of passenger vehicles are the current drivers driving the demand for automotive brackets. At present, leading manufacturers are applying gray cast iron and composite materials in the production of engine brackets of light weight due to rising demand of light weight engine markets.
High efficient noiseless engines with technological innovation in the engine structure and design are responsible for the growth in demand in the coming years.
With the conversion of metal brackets to plastic brackets, the product is expanding its demand in the automotive industry. The benefits associated with the plastic brackets related to the lower cost in its application. Plastic brackets are well suited because of non- corrosive, light weight and versatile performance in the material.
Engine brackets is one of the important component of the vehicle which is positioned on the chassis to provide good customer experience in terms of ride quality and performance in the automobiles.
Rising Passenger Car Production and Elastomeric Brackets Demand to Boost the Automotive Brackets Market
The rising demand for passenger cars is likely to increase the automobile brackets sales. The improvement in road infrastructure and personal disposable income has enhanced the sales and production of passenger cars pushing the demand for high quality natural rubber will additional capacity and vibration resistance.
The elastomeric brackets covers significant share in the revenue as they possess high quality, cost efficiency and low maintenance in their characteristics.
East Asia and Europe Automotive Brackets Demand Outlook
The recent transformation in the automotive industry is pushing the automotive brackets market with a significant pace. East Asia is one of the lucrative and prominent region due to high technological upgradation, urbanization and growing consumption and production of passenger vehicles across the region.
China is the top automotive hub with more than 33 million units of vehicles produced in 2020 and it is estimated that China will remain prominent market for automotive brackets during the forecast period.
There is an increasing trend in the new upgradation in the engine design and their models by the manufacturers and emerging new players in the European Market promoting the aftermarket sales in the Europe which will push the demand of the automobile brackets in the coming years.
Who are the Key Manufacturers of Automotive Brackets?
Some of the leading manufacturers and suppliers include
- Allena Group
- Toyo Tires
- MISUMI Corporation
- Cooper-Standard Holdings Inc.
- Hangzhou Ekko Auto Parts Co., Ltd
- Aztec Manufacturing
- Hancock Industrial Ltd
- Sumitomo Riko Company Ltd
- Yamashita Rubber Co., Ltd
- Nissin Kogyo Co., Ltd
- ACE International
- Xiamen Woricha Auto Parts Co. Ltd.
Many leading manufacturers have expanded their market presence through large number of manufacturing hubs and wide distribution network all over the world. Companies are more relied upon saving the production costs with high quality in their products.
The main focus is on bringing new product development, R&D, innovation, strategic collaboration, expansion of manufacturing facilities and enlarging the distribution channel contributing to the development in the automotive brackets market.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Key Segments of Automotive Brackets Market
By Product Type:
- Passive Elastomeric Bracket
- Hydraulic Bracket
- Active Engine Bracket
By Vehicle Type:
- Passenger car
- Commercial Vehicle
- Heavy Commercial Vehicles (HCV)
- Light Commercial Vehicles (LCV)
By Sales Channel:
- Original Equipment Manufacturers
- North America (US, Canada)
- Europe (Germany, Italy, France, U.K., Spain, BENELUX, Russia, Nordics)
- East Asia (China, Japan, South Korea)
- South Asia & Pacific (India, ASEAN Countries, Oceania)
- Latin America (Brazil, Mexico)
- Middle East and Africa (GCC Countries, Turkey, Northern Africa, South Africa)