According to a comprehensive research report by Market Research Future (MRFR), “Automotive Brake Shoe Market Research Report: Information by Type, Sales Channel, Vehicle Type, and Region- Forecast till 2026”, the global market is predicted to flourish substantially during the assessment era from 2020 to 2026 at a robust CAGR of approximately 7% to attain a valuation of around USD 15 billion by the end of 2026.
A brake shoe refers to a curved piece of the metal component of a vehicle's brake system. The global market for automotive brake shoes has shown massive development in recent times. The growth of the Automotive Brake Shoe market is ascribed to the factors such as a rapid expansion of the automobile sector, rising demand for passenger vehicles, increasing demand for commercialization, growth of the construction industry, rapid industrialization, growing per capita disposable income levels, and launch of the advanced technologies are also likely to catalyze the growth of the Automotive Brake Shoe market over the coming years.
Post time: Nov-18-2022
