The global Automotive Backing Plate market was valued at around USD 590.6 Million in 2021, with a projected CAGR of 4.9% for the next ten years, the market is likely to reach a valuation of nearly USD 994 Million by the end of 2032.
| Attributes | Details |
|---|---|
| Automotive Backing Plate Market Size (2021A) | USD 590.6 Million |
| Automotive Backing Plate Market Size (2022E) | USD 613.4 Million |
| Projected Market Value (2032F) | USD 994 Million |
| Global Market Growth Rate (2022 to 2032) | 4.9% CAGR |
| Share of Top 5 Countries | More than 53% |
| North America Market Share (2021) | ~41.4% |
| United States Growth Rate (2022 to 2032) | ~4.2% |
| Key Countries Profiled | Super Circle, NUCAP Industries Inc, MAT Foundry Group Ltd., INDUS Marmara Auto Components Pvt Ltd., Dorman Products, Ridex GmbH, Ortlinghaus-Werke GmbH, Sparex, RSB Tech Solution, ACDelco |
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Future Market Insights’ analysis reveals that the market for automotive backing plates from 2017 to 2021 grew at a CAGR of 3.9%. With an absolute dollar opportunity of USD 380.6 Million, the market is projected to reach a valuation of USD 994 Million by 2032.
The top brake material used in the automotive backing plate is aluminum. Aluminum-based automotive backing plate reported a 3.5% CAGR from 2017 to 2021 and is expected to achieve a growth rate of 4.8% during the forecasted year of 2022 to 2032.
Every braking system relies on backing plates to function properly. Its primary role is to hold the other brake system components together. Drum brakes are supported by backing plates. Brake shoes are then installed over the backing plate's wheel cylinder, providing the necessary grip to stop the vehicle from using friction. Without backing plates, brakes would not have something to rely on.
The market for disc brakes in the automotive backing plates will witness steady growth and is set to witness a 4.6% CAGR, during the forecasted period of 2022 to 2032. Disc brake reported a 3.4% CAGR between 2017 and 2021. Disc brakes are commonly preferred in the automobile backing plate market as it is lighter than drum brakes and has a greater cooling effect due to their location of being directly exposed to air.
Disc brakes are most commonly seen in passenger automobiles, but due to their consistent performance at higher speeds and resistance to brake fade, they are slowly making their way into the commercial vehicle category, where drum brakes were formerly preferred due to their longer service life. Customers are increasingly demanding longer service life and higher quality.
Most disc brake pads use steel backing plates, while some often go for aluminum or titanium-backed pads. Aluminum brake material types are lighter to use and do not rot or delaminate from the backing plate. Stainless steel is another option used in the automotive backing plate. Due to the proximity of water, stainless steel is widely employed in the manufacturing of backing plates.
Stamped hole backing plates have holes in the backing plate and are made out of steel. Over 95% of the passenger vehicle are comprised of stamped hole back plates. However, their use is declining in Commercial Vehicles because these backing plates are not sufficient enough to hold the strength of heavy vehicles.
Wire mesh steel plate is another segment driving the market for commercial vehicle brake pads. They are used in medium and heavy-duty brakes as they can provide better strength than hole-stamped hole backing plates. The only drawback is that they are more expensive than stamped hole backing plates.
OE manufacturers are largely engaging in manufacturing cast iron back plates. Cast iron backing plate exhibits shear strength for the brake pad due to its architecture. As a result, they are suitable for commercial vehicle brake pads. OE manufacturers are using cast iron back plates in SCANIA, VOLVO, and other heavy commercial vehicles.
The aftermarket sales channel is likely to dominate the automotive backing plate market. Original equipment backing plates often get rusted in millions of passenger vehicles, leading to exposure of certain brake components like brake shoes, springs, and hardware damage.
Salvaging and evaluating the damaged components is a tedious task. Therefore, numerous aftermarket has expanded their production capacity to offer replacement components for vehicles.
Dorman, a leading automotive supplier in the aftermarket launched backing plates that provide the one-stop solution for all brake components and assist in eliminating misdiagnosis, and incorrect repair and releasing tens of thousands of replacement products engineered to save time and money.
Principal Consultant
Europe’s market revenue in the automotive backing plate market during 2021 was USD 148.2 Million. Its expected market revenue during 2032 is expected to expand by 249.4 Million. United Kingdom achieved a growth rate of 2.6% from 2017 to 2021. The growth can be attributed to rising in the aftermarket sales channel.
For instance, MAT Foundry group headquartered in United Kingdom is a leading manufacturer of automotive components. It produces more than 10 million brakes and backing plates a year. It is expected that the market will attain a 3.6% CAGR from 2022 to 2032. The absolute dollar opportunity growth of United Kingdom in the automotive backing plates is USD 11.9 Million by 2032.
The World’s Factory to retain its Dominance in Automotive Backing Plate Manufacturing
The market for Automotive backing plates is expected to be valued at USD 337.4 Million by 2032. It witnessed a growth rate of 3.6% during 2017 to 2021 and is expected to achieve a 4.2% CAGR during the forecast period. Besides, automotive components are increasingly available on e-commerce platforms in the USA Moreover, people are keeping vehicles for a longer duration. According to S&P Mobility, 32 Million USA cars are more than 12 years old. This factor is expected to drive the demand for automotive brake components in the market. The absolute dollar opportunity growth in USA stands at USD 114.2 Million from 2022 to 2032.
In 2021, China held the second largest market share in the automotive backing plate market after the USA It accounted for 34% of the global market for backing plates in 2021. The market in China is expected to reach a valuation of USD 66.8 Million by 2032. Revenue through the automotive backing plate in China grew by 3.1% from 2017 to 2021. Most of the backing plates are imported from China. China exports most of its backing plate to India, the USA, and Vietnam.
As of 2021, based on Volza Grow Global statistics, backing plate export shipments from China accounted for 27.8 thousand. It is expected that the market will account for a growth rate of 4% in the backing plate market during the forecast period. With these statistics, it will be no wonder to expect China as a market with a USD 21.5 Million absolute dollar opportunity between 2022 and 2032.
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Most automotive backing plate manufacturers currently use automotive aluminum as their base material
Aluminum-based braking plate remains the key segment in the automotive backing plate market. The growth rate of the aluminum-based backing plate from 2017 to 2021 was 3.5% Aluminium alloys are easy to manufacture and are comparatively lightweight and compact. Besides, it holds corrosion back and is an ideal material for a replacement among aftermarkets.
Aluminum is highly preferable for light-duty applications. Revenue through aluminum-based braking plates is expected to achieve a 4.8% CAGR during the forecasted period of 2022 to 2032.
With the ever-increasing demand for automobiles, manufacturers are concerned with expanding their global footprint and collaborating in joint ventures. The key focus of the competitive Industries is to thrive in the global market for automotive components by expanding their portfolio and participating in new development projects with the aim of increasing safety in brake components and achieving growth.
Key companies operating 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.
Some of the recent developments in the Automotive Backing Plate market are as follows:
Similarly, recent developments related to companies manufacturing Automotive Backing Plate have been tracked by the team at Future Market Insights, which is available in the full report.
The global Automotive Backing Plate market was valued at USD 590.6 Million in 2021 and USD 613.4 Million in 2022
The Automotive Backing Plate industry is set to witness a high growth rate of 4.9% over the forecast period and is valued at USD 994 Million by 2032.
The aluminum brake material type has maintained its largest share and is expected to grow at 4.8% CAGR from 2022 to 2032.
Super Circle NUCAP, MAT Foundry Group Ltd., INDUS Marmara Auto Components Pvt Ltd., Dorman Products, Ridex GMBH, ORTLINGHAUS-WERKE GmbH, Sparex, RSB Tech Solution, ACDelco and Ortlinghaus-Werke GmbH are the key suppliers of Automotive Backing Plate.
United States of America, United Kingdom, China, Japan, and South Korea are expected to drive the most sales growth of Automotive Backing Plate.
North America, expanded its market revenue by USD 244.5 Million in 2021 and is expected to achieve USD 411.5 Million of market revenue in the automotive backing plate by 2032.
The automotive backing plate market in USA is projected to be valued at USD 337.4 Million in 2032 and is expected to achieve a growth rate of 4.2% during the forecasted year.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2017 to 2021 and Forecast, 2022 to 2032 5. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Brake Types 5.1. Disc Brake 5.2. Drum Brake 6. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Brake Material Type 6.1. Aluminum 6.2. Iron 6.3. Others 7. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Vehicle Type 7.1. Passenger Cars 7.2. Light Commercial Vehicle 7.3. Heavy Commercial Vehicle 8. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. Asia Pacific 8.5. Middle East and Africa 9. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 10. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 11. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 12. Asia Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 13. Middle East and Africa Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 14. Key Countries Market Analysis 15. Market Structure Analysis 16. Competition Analysis 16.1. Super Circle 16.2. NUCAP 16.3. MAT Foundry Group Ltd. 16.4. INDUS Marmara Auto Components Pvt Ltd. 16.5. Dorman Products 16.6. Ridex GMBH 16.7. ORTLINGHAUS-WERKE GmbH 16.8. Sparex 16.9. RSB Tech Solution 16.10. ACDelco 17. Assumptions & Acronyms Used 18. Research Methodology
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Automotive Backing Plate Market
