Report: Brakes, Clutches Market to Reach $24.5 Billion
Oct. 11, 2019—The automotive brakes and clutches market is projected to reach $24.5 billion by 2025.
According to researchandmarkets.com, OEM, one of the segments analyzed and sized in this study, displays the potential to grow at over 6.2 percent. The shifting dynamics supporting this growth makes it critical for businesses in this space to keep abreast of the changing pulse of the market.
Representing the developed world, the United States will maintain a 4.7 percent growth momentum. Within Europe, Germany will add over $478.8 million to the region's size and clout in the next five to six years. Over $403.6 million worth of projected demand in the region will come from the rest of Europe markets. In Japan, OEM will reach a market size of $1.3 billion by the close of the analysis period.
As the world's second-largest economy and the new game-changer in global markets, China exhibits the potential to grow at 8.3 percent over the next couple of years and add approximately $3.7 billion in terms of addressable opportunity for the picking by aspiring businesses and their astute leaders.