Automobile Brakes Manufacturing in the US - Industry Market Research Report

Hit the brakes: Renewed macroeconomic activity will encourage consumers to buy more vehicles, boosting the industry

Automobile brake manufacturers have been dragged down by the struggles of the automotive sector in recent years. The outbreak of COVID-19 led to forced shutdowns of nonessential businesses, closing the doors for many auto-related sectors. This period of economic uncertainty led to consumer spending drying up. So, consumers were prioritizing other expenses, considering transportation wasn't needed during lockdowns. As the economy reopened, the auto sector enjoyed revitalized demand. But commodity prices soared as supplies lagged behind the rapidly recovering sector, raising both production costs and operating costs, pressuring profit and making automobiles more expensive to buy and own. Overall, industry revenue has been falling at a CAGR 8.2% to $9.6 billion over the past five years, including a drop of 0.8% in 2023 alone. Companies in this industry manufacture and rebuild motor vehicle brake systems and related components for major US automakers and other foreign automakers that operate manufacturing operations in the United States. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.