September 19, 2022 08:10 ET | Source: Allied Market Research Allied Market Research
Portland, OR, Sept. 19, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global brake & steel wire market generated $7.87 billion in 2021, and is projected to reach $14.75 billion by 2031, growing at a CAGR of 6.8% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape, and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners, and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.
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Brake & Steer by Wire Industry Report Coverage & Details:
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The report offers detailed segmentation of the global brake & steel wire market based on application and region.
Based on application, the brake by wire segment held the largest market share in 2021, holding more than two-thirds of the global market, and is expected to maintain its leadership status during the forecast period. The steer by wire segment, on the other hand, is expected to cite the fastest CAGR of 8.1% during the forecast period.
Based on region, the market across Asia-Pacific held the dominating market share in 2021, holding more than half of the global market, and is expected to maintain its leadership status during the forecast period. The Europe region, on the other hand, is expected to cite the fastest CAGR of 8.7% during the forecast period.
The key players analyzed in the global brake & steel wire market report include Brembo S.p.A., Hitachi Automotive Systems, Ltd., JTEKT Corporation, Nexteer Automotive Group Limited, Robert Bosch GmbH, Schaeffler Paravan Technologie GmbH & Co. KG, ZF Friedrichshafen, Ficosa corporation, Kongsberg Automotive, Curtiss-Wright Corporation, Mando Corporation, REE Automotive, Hyundai Mobis, ThyssenKrupp AG, Nissan Motor Co., Ltd., Hitachi Automotive Systems, Ltd. And DENSO Corporation.
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The report analyzes these key players in the global brake & steel wire market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analyzing recent developments, product portfolio, business performance, and operating segments by prominent players in the market.
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