According to our latest market study on “Automotive Backing Plate Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Brake Types, Brake Material Type, and Vehicle Type,” the market 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.

Dorman Products.; NUCAP; Ridex GMBH; ORTLINGHAUS-WERKE GmbH; ACDelco, are some of the key market players operating in the global automotive backing plate market. The listing of key players is derived by considering multiple factors such as overall revenue, current automotive smart key portfolio, geographical reach, new product launches, market initiatives, and investment in technology up gradation, partnerships, and other market related activities. In addition to these players, there are several other important players operating in the automotive backing plate market which were analyzed during the course of this market research study, such as, Super Circle.; MAT Foundry Group Ltd.; INDUS Marmara Auto Components Pvt Ltd.; Sparex; and RSB Tech Solution among others.

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The global automotive backing plate market analysis on the basis of brake type is divided into disc brake and drum brake. Based on brake material type, the automotive backing plate market is segmented into aluminum, iron, and others. In terms of vehicle type, the automotive backing plate market is categorized into passenger cars, light commercial vehicle, and heavy commercial vehicle. Based on region, the global automotive backing plate market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.

Impact of COVID-19 Pandemic on APAC Automotive Backing Plate Market

In 2020, the prolonged lockdown periods adversely affected the automotive industry in APAC due to the decline in automotive production. China and India are the most affected countries by COVID-19 in APAC. According to the article published by Counterpoint Technology in September 2020, vehicles sales in August 2020 accounted for ~326,000 units in Japan, declining 16% on a y-o-y basis. Similarly,

In India, in the fiscal year 2021, total passenger vehicles production accounted for 22,652,108, according to the India Brand Equity Foundation (IBEF) report 2021. In October 2021, the total production volume of passenger vehicles (except for BMW, Mercedes, Tata Motors, and Volvo Auto), three-wheelers, two-wheelers, and quadricycles reached 2,214,745 units, as per the same report. The growing number of passenger vehicles production in APAC is attributed to the positive impact of the COVID-19 pandemic on the automotive backing plate market in APAC during the forecast period.

The growth of economies, and improvements in production and manufacturing infrastructures, especially in developing countries, have bolstered the growth of the automotive backing plate market. This growth encourages the global 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 downfall in sales during 2020 due to the decline in 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.

Key Findings of Study:

The global   includes companies operating in a wide range of product portfolios.. However, based on parameters such as overall revenue, brand image, current automotive backing plate product portfolio, geographic reach, customer base, technology adoption & integration, new product/service/feature launches, partnerships, mergers & acquisitions, and other market-related activities, we have listed these five key players operating globally.

five key market players operating in the global automotive backing plate market. Several other global, regional, and local market players; emerging companies; market disruptors; and niche market players have been analyzed to understand the global automotive backing plate market.

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 a larger share in the market. Based on brake material type, the automotive backing plate market is segmented into aluminium, iron, and others. In 2021, the others segment accounted for the largest market share. Based on 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. By geography, the automotive backing plate market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2021, APAC accounted for a significant share of the global automotive backing plate market.

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