The global automotive brackets industry is projected to be valued at US$ 20 Billion in 2022 and is estimated to be worth of US$ 20.68 Billion in 2023. The demand for the automotive brackets is expected to rise at a CAGR of 5.1% between 2023 and 2033, reaching US$ 34 Billion by 2033.
Technological advancements have opened numerous doors for innovation. It is important to note that industries around the world are trying to recover despite the economic collapse caused by the COVID-19 pandemic around the world. The best part of their return is that they have adopted new and better visions for the future. As industries seek to address current needs while incorporating futuristic features, they are increasingly developing unique and innovative products. Automobiles are no different from other industries. As one of the most useful attachments for vehicles, brackets come in handy for a variety of vehicles.
In India, commercial vehicle brackets are available in a variety of different styles and designs. The size and design of the bracket are also decided as part of the decision-making process. The automotive industry seems to offer a seemingly endless number of opportunities. The Indian automotive bracket industry is composed of several manufacturers, such as Border Auto Parts, Bajaj Auto, and Maruti Suzuki. A range of automotive brackets is produced by these companies, including brackets for engine mounts, brackets for exhaust systems, and brackets for suspension systems. In vehicles, these devices prevent the car from slipping and allow it to operate smoothly by securing and supporting different components. These parts are generally constructed of steel or aluminum and are capable of being customized to meet the specific requirements of each vehicle as required. As a general rule, these parts are designed to be durable and reliable in a variety of situations and climates.
With the introduction of the new brackets, it is now possible to reduce weight and increase strength, as well as reduce the cost of the brackets. Due to the development of new materials and technologies, brackets are becoming increasingly lighter and stronger, often using fewer materials and using fewer parts than in the past. Apart from the fact that the cost of the system has been reduced, it has also contributed greatly to an improvement in performance. In order to reduce the amount of material waste and to create more efficient designs, a new generation of simulation and analysis techniques has also been developed. In addition to this, 3D printing has also enabled more complex and intricate designs to be created using other technologies, such as 3D printing, which have made it possible for these designs to be developed through the use of other technologies.
Several technological advancements have been made by the automotive bracket industry in recent years in terms of manufacturing. By using 3D printing technology, intricate, high-strength brackets have been able to be produced at a cost-effective price and are both lightweight and strong. Aluminum has been used for the fabrication of brackets for decades and has shown to be a cost-effective and durable alternative to other lightweight materials such as steel and steel alloys.
In order to ensure a greater degree of accuracy and faster development of new products, advanced computer-aided design (CAD) software is now being used to design automotive brackets in order to make them more accurate and more efficient. In addition to improving the durability and reliability of automotive brackets, a high-performance adhesive and sealant have also been used to improve their performance. Furthermore, recent developments in robotics have made it possible to mass-produce automotive brackets with greater precision and accuracy.
AI can play a very important part in the development of automotive brackets in a variety of ways. Data from previous designs can be analyzed by AI algorithms in order to suggest ways to improve existing bracket designs. In addition to simulating different scenarios of loading brackets with artificial intelligence, predictions can be made about the outcome of different loading scenarios. Furthermore, AI allows for the identification and detection of inefficiencies in the design process or production process, resulting in a higher level of quality and efficiency.
| Data Points | Key Statistics |
|---|---|
| Estimated Base Year Value (2022) | US$ 20 Billion |
| Expected Market Value (2023) | US$ 20.68 Billion |
| Anticipated Forecast Value (2033) | US$ 34 Billion |
| Projected Growth Rate (2023 to 2033) | 5.1% CAGR |
pandemic the overall sales were hampered and the demand drastically declined in 2020. However, it is estimated that the market will show positive growth from 2021 onwards. The steady growth in the demand of passenger cars will benefit the demand for automotive brackets in the coming years.
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
The growing consumer demand for advance technologies in automotive and the surging sales of passenger vehicles are the current drivers driving the demand for automotive brackets. At present, leading manufacturers are applying gray cast iron and composite materials in the production of engine brackets of light weight due to rising demand of light weight engine markets.
High efficient noiseless engines with technological innovation in the engine structure and design are responsible for the growth in demand in the coming years.
With the conversion of metal brackets to plastic brackets, the product is expanding its demand in the automotive industry. The benefits associated with the plastic brackets related to the lower cost in its application. Plastic brackets are well suited because of non- corrosive, light weight and versatile performance in the material.
Engine brackets is one of the important component of the vehicle which is positioned on the chassis to provide good customer experience in terms of ride quality and performance in the automobiles.
The rising demand for passenger cars is likely to increase the automobile brackets sales. The improvement in road infrastructure and personal disposable income has enhanced the sales and production of passenger cars pushing the demand for high quality natural rubber will additional capacity and vibration resistance.
The elastomeric brackets covers significant share in the revenue as they possess high quality, cost efficiency and low maintenance in their characteristics.
Principal Consultant
The recent transformation in the automotive industry is pushing the automotive brackets market with a significant pace. East Asia is one of the lucrative and prominent region due to high technological upgradation, urbanization and growing consumption and production of passenger vehicles across the region.
China is the top automotive hub with more than 33 million units of vehicles produced in 2020 and it is estimated that China will remain prominent market for automotive brackets during the forecast period.
There is an increasing trend in the new upgradation in the engine design and their models by the manufacturers and emerging new players in the European Market promoting the aftermarket sales in the Europe which will push the demand of the automobile brackets in the coming years.
Some of the leading manufacturers and suppliers include
Many leading manufacturers have expanded their market presence through large number of manufacturing hubs and wide distribution network all over the world. Companies are more relied upon saving the production costs with high quality in their products.
The main focus is on bringing new product development, R&D, innovation, strategic collaboration, expansion of manufacturing facilities and enlarging the distribution channel contributing to the development in the automotive brackets market.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
Explore Automotive Insights
View Reports
Automotive Brackets Market
