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.  

When a driver suddenly applies the brakes while driving, the wheels of the car can lock and slide on the road, making it difficult for the driver to control the vehicle. To address this issue, the anti-lock braking system (ABS) is designed to prevent the wheels from locking by intermittently applying braking force, which improves the car's braking performance and allows the driver to steer the vehicle away from obstacles. In addition, electronic brake-force distribution (EBD) ensures that the braking force is distributed appropriately based on road conditions and the driver's preferences. This system utilizes speed sensors to detect the speed of the wheels and the vehicle and transmits the information to the electronic control unit (ECU), which constantly analyses the data to identify any slippage caused by the wheels spinning faster than the car's speed. If such slippage is detected, the system applies slight braking force to the sliding wheel, and determines which wheel requires more braking force and delivers it independently. These advancements have contributed to the growth of the automotive backing plate market.

Impact of COVID-19 Pandemic on APAC Automotive Backing Plate Market
The automotive industry in the Asia-Pacific (APAC) region suffered in 2020 due to prolonged lockdown periods, leading to a decline in automotive production. China and India were among the most affected countries in the region by the COVID-19 pandemic. In September 2020, Counterpoint Technology published an article stating that vehicle sales in Japan had decreased by 16% year-over-year, accounting for around 326,000 units in August 2020. Similarly, the article revealed that new vehicle sales from the top 5 automakers in South Korea, including Hyundai, Kia, Renault, and General Motors, declined by approximately 6%, reaching around 112,000 units. As a result, the demand for automotive backing plates also decreased in 2020, in line with the declining vehicle sales in the APAC region.

The India Brand Equity Foundation (IBEF) report for 2021 shows that in the fiscal year 2021, the total production of passenger vehicles in India amounted to 22,652,108 units. Furthermore, the same report states that in October 2021, the production volume of passenger vehicles (excluding BMW, Mercedes, Tata Motors, and Volvo Auto), along with three-wheelers, two-wheelers, and quadricycles, reached 2,214,745 units. The increasing production of passenger vehicles in the Asia-Pacific (APAC) region is expected to positively impact the automotive backing plate market in APAC during the forecast period, as indicated by the report.

The automotive backing plate market is categorized by brake type, with the options of the disc brake and drum brake. The drum brake segment held a larger market share in 2021. The market is also segmented by brake material type, with options of aluminum, iron, and others. The others segment dominated the market in 2021. Regarding vehicle type, the market is segmented into passenger cars, light commercial vehicles, and heavy commercial vehicles. The passenger cars segment held the largest market share in 2021. The market is further segmented geographically into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM), with APAC holding a significant share of the global automotive backing plate market in 2021.

Key Findings of Study:
The global automotive backing plate market encompasses various companies with varying product portfolios. Given the distinct needs in which they operate, it is difficult to identify the top five key players in the overall market. Nevertheless, based on factors such as revenue, brand reputation, current product offerings, geographical reach, customer base, technology utilization, new product/service/feature releases, collaborations, mergers & acquisitions, and other market-oriented activities, we have identified five prominent players operating globally.

Dorman Products, NUCAP, Ridex GMBH, ORTLINGHAUS-WERKE GMBH, and ACDELCO (GM) are the five key market players operating in the global automotive backing plate market. Super Circle, MAT Foundry Group Ltd., INDUS Marmara Auto Components Pvt Ltd., Sparex, and RSB Tech Solution are a few other notable players profiled in this market study. 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.

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