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The automotive backing plate market share is expected to grow from US$ 590.61 million in 2021 to US$ 771.30 million by 2028; it is estimated to grow at a CAGR of 3.9% from 2021 to 2028.
A backing plate is a mechanical device used to control motion by absorbing energy from a moving system, typically through friction. It slows or stops a moving vehicle, wheel, axle, or other components. A braking system is a complicated gadget with many pieces with more accessible functions. In a braking system, pushing a single pedal activates all four wheels' brakes. The slowdown is accomplished using hydraulic fluid, which is frequently added to ensure effective braking performance. Air is not permitted in the system; otherwise, the component would not function properly. Most backing plates are designed to use friction between two surfaces, and they are pressed to convert the kinetic energy of the moving object into heat. In an automobile, friction brakes store braking heat in the drum brake or disc brake, which gradually converts into air.
The key stakeholders in the automotive backing plate market are raw material suppliers, automotive backing plate manufacturers, and end-users. All these stakeholders are a part of the automotive backing plate market value chain that comprises three major segments brake type, brake material, and vehicle type. The raw material providers supply the material to build the automotive backing plates. Automotive backing plate manufacturers then carry out various processes, such as designing, assembling, and production, to transform raw materials into finished products. Growing demands for enhanced functionality, greater reliability, higher product utilization, and capabilities that transcend the boundaries of traditional products and solutions are enabling industry participants to rethink their strategies and the operational significance of the product.
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Automotive Backing Plate Market: Strategic Insights
Market Size Value in US$ 590.61 Million in 2021 Market Size Value by US$ 771.30 Million by 2028 Growth rate CAGR of 3.9% from 2021 to 2028 Forecast Period 2021-2028 Base Year 2021
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Automotive Backing Plate Market: Strategic Insights
| Market Size Value in | US$ 590.61 Million in 2021 |
| Market Size Value by | US$ 771.30 Million by 2028 |
| Growth rate | CAGR of 3.9% from 2021 to 2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
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Impact of COVID-19 Pandemic on Automotive Backing Plate Market
The growth of economies and improvements in production & manufacturing infrastructures, especially in developing countries, have bolstered the growth of the automotive backing plate market. After witnessing a significant drop in consumer demand for trucks and cars in 2020 due to the COVID-19 pandemic, the automotive backing plate market is witnessing a gradual recovery after the last quarter of 2020. As per several automotive industry associations and organizations, the automotive sector recorded ~20–25% loss in production and more than ~30% loss in sales in 2020. The key manufacturers observed a drop in sales during 2020 due to declining automotive manufacturing. Automotive sales in Europe and the US are anticipated to rebound to pre-COVID-19 pandemic levels by 2023, while China’s recovery continues with the potential to approach ~30 million new vehicles by 2025. Rapid recovery of the global automotive sector is anticipated to boost the automotive backing plate market during the forecast period.
Lucrative Regions for Automotive Backing Plate Market
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Market Insights
Stringent Automotive Active Safety Regulations
Stringent Automotive Active Safety Regulations
The goal of functional safety is to reduce the risks associated with product design and development. Many dangers and possible failures must be addressed, and an active system should be introduced 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 new UN Regulation will impose strict and internationally harmonized requirements for using AEBS at low speeds, even in complex and unpredictable situations, such as traffic in urban areas, owing to the growth of the automotive backing plate market.
Brake Type Segment Insights
Based on brake type, the global automotive backing plate market is bifurcated into disc brake and drum brake. A drum brake relies on friction generated by a set of shoes or pads that press outward against a revolving cylinder-shaped component known as a brake drum. Drum brakes are commonly described as brakes in which shoes press on the inside surface of the drum. When shoes push on the exterior of the drum, this is referred to as a clasp brake.
Automotive Backing Plate Market, by Brake Type (% Share)
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Material Type Segment Insights
Based on brake material type, the automotive backing plate market is segmented into aluminium, iron, and others. The others segment in the automotive backing plate market includes ceramic, copper, rubber, and brass. Ceramic brake pads have small copper strands, which contribute to improving friction and heat conductivity. They are extremely quiet, producing little to no additional noise when the brakes are used. Copper provides a smooth braking sensation, easily transfers heat, and improves brake efficacy in cold conditions. Copper also possesses characteristics that help keep brakes from squeaking and trembling when they are utilized. Currently, the unique properties of copper make it impossible to recreate with other materials.
Vehicle Type Segment Insights
Based on vehicle type, the automotive backing plate market is segmented into passenger cars, light commercial vehicle, and heavy commercial vehicle. Passenger cars have two brake pads and one rotor per wheel. The user can clearly see the dark wear particles on the car rims in European cars. In North America and Asia, a different brake pad formulation is used. The non-asbestos organic (NAO) brake pads are less abrasive and cause less rotor wear. Passenger cars are fitted with brake pads that meet the high requirements of car manufacturers for comfort, durability, and performance. Hybrid and electric cars use regenerative brake systems. Traditional brakes are not applied as frequently using these braking systems in daily traffic, thus decreasing the replacement rate. This will lead to the growth of the automotive backing plate market during the forecast period.
The automotive backing plate market players focus on new product innovations and developments by integrating advanced technologies and features to compete with the competitors. In March 2022, Dorman Products announced 250 new auto parts including more than ~100 new aftermarkets for a wide range of cars and trucks.
Based on brake type, the global automotive backing plate market is bifurcated into disc brake and drum brake. Based on brake material type, the automotive backing plate market is segmented into aluminium, iron, and others. Based on vehicle type, the automotive backing plate market is segmented into passenger cars, light commercial vehicle, and heavy commercial vehicle. By geography, the global automotive backing plate market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.
Company Profiles
- Super Circle
- NUCAP
- MAT Foundry Group Ltd.
- INDUS Marmara Auto Components Pvt Ltd.
- Dorman Products
- Ridex GMBH
- ORTLINGHAUS-WERKE GmbH
- Sparex
- RSB Tech Solution
- ACDelco
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Brake Types, Brake Material Type, and Vehicle Type
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
Stringent automotive active safety regulations and enhanced vehicle safety with ABS & EBD are driving the growth of the automotive backing plate market.
The market opportunity lies in developing countries. Developing countries have become a hub of opportunity for various markets, including the automotive backing plate market. Further, regenerative braking to create lucrative opportunities in EV ecosystem is presenting significant potential for the future growth of the automotive backing plate market players.
Based on brake types, the automotive backing plate market is bifurcated into disc brake and drum brake. In 2021, the drum brake segment led the automotive backing plate market, accounting for the largest share in the market.
In 2021, APAC led the market with a substantial revenue share, followed by Europe and North America. APAC is a prospective market for automotive backing plate developers.
The major five companies in the automotive backing plate market include Dorman Products, NUCAP, Ridex GMBH, ORTLINGHAUS-WERKE GMBH, and ACDELCO.
On the basis of vehicle type, the automotive backing plate market is segmented into passenger cars, light commercial vehicle, and heavy commercial vehicle. In 2021, the passenger cars segment led the automotive backing plate market, accounting for the largest share in the market.
The List of Companies - Automotive Backing Plate Market
- Super Circle
- NUCAP
- MAT Foundry Group Ltd.
- INDUS Marmara Auto Components Pvt Ltd.
- Dorman Products
- Ridex GMBH
- ORTLINGHAUS-WERKE GmbH
- Sparex
- RSB Tech Solution
- ACDelco
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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