The global automotive backing plate market share 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.
Air braking systems are commonly installed in heavy-duty vehicles, such as buses and trucks, where the brake pedal activates the brakes like other braking systems. However, the air braking system differs because air enters the compressor through an air filter and is directed to the reservoir via an unloader valve. Then, it passes through a brake valve, which regulates the amount of braking. Unlike most vehicles that use servo braking systems to enhance the driver's braking pressure, air braking systems do not rely on vacuum pressure from the engine's intake manifold to create additional pressure. Additionally, air braking systems only work when the engine is running.
Regenerative braking is a technique used in electric vehicles (EVs), where releasing the accelerator pedal discontinues the power flow from the battery to the motor. However, the rotor of the engine continues to rotate in tandem with the vehicle's wheels. As the battery stops supplying electricity, the motor turns into a generator, transferring kinetic energy from the spinning rotor to the battery, while slowing down the car. Although this technique has been in use for over a century, ongoing research seeks to enhance its efficiency, mainly by improving batteries and supercapacitors. Regenerative braking is most effective at higher speeds and long downhill since there is more kinetic energy available to convert. With the continuous advancements in regenerative braking systems, the automotive backing plate market may experience growth opportunities during the forecast period. The development of efficient regenerative braking systems can make EVs more economical, efficient, and environmentally friendly by reducing energy loss during the braking process.
When a driver slams on the brakes of a moving vehicle, the wheels can lock and skid, causing the vehicle to slide uncontrollably. However, the anti-lock braking system (ABS) prevents wheel lock intermittently, applying brake pressure to allow the wheels to rotate slightly. This significantly improves braking performance and enables the driver to steer away from an obstacle while still applying strong braking force. Additionally, electronic brake-force distribution (EBD) ensures that the braking force is distributed based on road conditions and the driver's needs. Speed sensors detect wheel and vehicle speed and send the data to the ECU for continuous comparison. If slippage is detected, the system applies a slight brake force to the sliding wheel. This function independently determines which wheel needs more braking force and delivers it accordingly. These features have contributed to the growth of the automotive backing plate market.
Automated braking systems are an essential element of vehicle safety technology that can prevent or limit the speed of a moving vehicle before colliding with other vehicles, pedestrians, or barriers. These systems use various sensors like radar, video, infrared, or ultrasonic to detect potential obstacles in front of the vehicle and apply brake control to avoid a collision. In addition, an automated braking system can communicate with the vehicle's GPS and use traffic data to apply brakes if the driver fails to do so. For example, Subaru's EyeSight system uses two-color cameras at the top of the windshield to identify pedestrians, motorcycles, and other vehicles. The benefits of these automatic braking systems will lead to the growth of the automotive backing plate market.
The global automotive backing plate market is experiencing a steady annual growth rate, with a concentration of leading automakers and smaller vehicle manufacturers in the region. The region's economic growth has had a positive impact on passenger car consumption patterns, leading to an increasing demand for premium cars in North America. This has prompted automakers to expand their production lines in the region, contributing to the growth of the automotive backing plate market. Furthermore, the market is expanding due to the need for automakers to comply with strict emission regulations, which has been supported by the US Department of Energy through the advanced technology vehicles manufacturing (ATVM) program. This program has provided over US$8 billion in loans to assist companies in redesigning their vehicle parts for improved fuel efficiency, further boosting the growth of the automotive backing plate market in the region.
Key companies in the automotive backing plate market include Super Circle, NUCAP, MAT Foundry Group Ltd., INDUS Marmara Auto Components Pvt Ltd., Dorman Products, Ridex GMBH, ORTLINGHAUS-WERKE GmbH, Sparex, RSB Tech Solution, and ACDelco. The report also comprises secondary research on other companies that hold a significant share of the automotive backing plate market.
A combination of primary and secondary sources has been used to determine the size of the automotive backing plate market. The research process began with thorough secondary research using internal and external sources to gather qualitative and quantitative information on the market. This process was also utilized to obtain a forecast and overview for all market segments. To validate the data and obtain further analytical insights into the automotive backing plate market, multiple primary interviews were conducted with industry experts, including VPs, business development managers, market intelligence managers, national sales managers, as well as external consultants such as valuation experts, research analysts, and key opinion leaders who specialize in the automotive backing plate market.