Future Market Insights
Handbrake & clutch cables are crucial operational parts of an automotive. For effective operation of a vehicle, proper functioning of handbrake & clutch cables is highly important. It is generally advised to carefully apply clutch and handbrake, as harsh use of them can affect the life of handbrake & clutch cables. Durability, quality, safety & temperature resistance are some of the parameters over which performance of handbrake & clutch cables is judged. Generally, handbrake & clutch cables have a higher replacement rate when compared to other components in the brake and transmission system. However, owing to the relatively low price and being a crucial part of the system, it is often replaced on a timely basis. Aftermarket sales from retail stores, garages and dealers contribute significantly to the growth of the handbrake & clutch cables market. Aftermarket sales holds a significant value share of the total handbrake & clutch cables market. Moreover, sales through OEM channel is also expected to bring in new opportunities, owing to the new product development and advancing technologies as well as mechanisms. Increasing sales of automatic transmission vehicle, which uses torque converter and incorporates clutch packs instead of traditional cable clutch is expected to hamper the growth of clutch cable sales, as the advanced configuration will not require clutch cable anymore.
Global Automotive Handbrake & Clutch Cables Market: Market Dynamics
Favourable macro-economic environment across prominent automotive hubs based in developed and developing nations is expected to be responsible for the growth of overall automotive component industry. Moreover, swift growing passenger vehicle production owing to rising disposable incomes leads to increased demand for vehicles and hence steady upsurge in demand for handbrake & clutch cables is expected both from OEM and replacement market. On the other side, there are some factors that pose challenges to the market growth, primarily, the market for automotive handbrake & clutch cables is highly competitive and the market is fragmented. Thus, existing players in the market struggle for profit margins due to existing competitive pressure in the market. Furthermore, the low priced counterfeit products available in the market from China and India are of low quality and less durability, and hence affect the brand image of existing players, which could eventually affect their businesses.
Global Automotive Handbrake & Clutch Cables Market: Segmentation
The global automotive handbrake & clutch cables market can be segmented into product type, vehicle type and sales channel
By product type, automotive handbrake & clutch cables market can be segmented into:
By vehicle type, automotive handbrake & clutch cables market can be segmented into:
By sales channel, automotive handbrake & clutch cable market can be segmented into:
Global Automotive Handbrake & Clutch Cables Market: Regional Outlook
By region, Asia Pacific is expected to remain as a significant market for automotive handbrake & clutch cables market both with respect to supply and demand for handbrake & clutch cables. The region is expected to emerge as a major exporter of handbrake & clutch cables to many countries. Countries in the region such as China, India and South Korea are expected to remain as the major contributors to the growth of the market. Japan is the base of key automotive component manufacturers and will hold a notable position in the global handbrake & clutch cable market. Following Asia Pacific, Europe is projected to be the next big market for automotive handbrake & clutch cables over the forecast period, the region has significant share in production and sales of passenger cars, light & heavy commercial vehicle. In terms of demand, North America market for handbrake & clutch cables is expected to hold comparatively low value share in the market.
Global Automotive Handbrake & Clutch Cables Market: Market Participants
Examples of some of the key market participants in the global automotive handbrake & clutch cables market are
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