Automotive Backing Plate Market is expected to reach US$ 771.30 Million by 2028

Regenerative Braking to Create Lucrative Opportunities in EV Ecosystem to Create Lucrative Opportunities for Automotive Backing Plate Market during 2021-2028

When an EV (electric vehicle) driver releases the accelerator pedal during regenerative braking, the power flow from the battery to the motor is discontinued. However, the spinning component of the engine (the rotor) continues rotating in tandem with the wheels of the moving automobile. Without a constant supply of electricity from the battery, the motor transforms into a generator, transferring kinetic energy from the spinning rotor to the battery, while resistance to the rotor slows the vehicle. Improvements to batteries will enhance the amount of energy that regenerative braking can store. Supercapacitor advancements will also improve braking efficiency. Regenerative braking is most effective at higher speeds and on a long downhill since more kinetic energy is available to be converted. Research on regenerative braking systems for reducing the energy loss in the braking process is making EVs more efficient, economical, and environmental-friendly. The continuous advancements in regenerative braking systems provide lucrative opportunities for the growth of the automotive backing plate market during the forecast period.

Based on brake types, the automotive backing plate market is bifurcated into disc brake and drum brake. In 2021, the drum brake segment led the automotive backing plate market, accounting for a larger share in the market. Based on brake material type, the automotive backing plate market is segmented into aluminium, iron, and others. In 2021, the others segment accounted for the largest market share. Based on vehicle type, the automotive backing plate market is segmented into passenger cars, light commercial vehicle, and heavy commercial vehicle. In 2021, the passenger cars segment led the automotive backing plate market, accounting for the largest share in the market. By geography, the automotive backing plate market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2021, APAC accounted for a significant share of the global automotive backing plate market.

A backing plate is a mechanical device used to control motion by absorbing energy from a moving system, typically through friction. It slows or stops a moving vehicle, wheel, axle, or other components. A braking system is a complicated gadget with many pieces with more accessible functions. In a braking system, pushing a single pedal activates all four wheels' brakes. The slowdown is accomplished using hydraulic fluid, which is frequently added to ensure effective braking performance. Air is not permitted in the system; otherwise, the component would not function properly. Most backing plates are designed to use friction between two surfaces, and they are pressed to convert the kinetic energy of the moving object into heat. In an automobile, friction brakes store braking heat in the drum brake or disc brake, which gradually converts into air.

Impact of COVID-19 Pandemic on Europe Automotive Backing Plate Market

The automotive sector plays a vital role in economic growth and employment in many European countries. The COVID-19 pandemic has severely impacted the European countries, including Italy, Spain, France, and Germany, with Italy being the most affected. In April 2020, these countries recorded the lowest registrations of new cars. The decline in demand, disruptions in supply chains, and technological challenges have severely affected the automotive sector in these countries, which disrupted the economy and resulted in a reduction in international trade. However, the reopening of dealerships to the public helped boost automotive parts sales. According to the Society of Motor Manufacturers and Traders (SMMT), new registrations accounted for 141,583 vehicles in April 2021, up from 4,321 in April 2020. The lifting of restrictions in European countries can potentially bring more cars on the road, leading to the demand for increased vehicle security. As an extension in the automotive sector, smartphone technology has significant applications in the current COVID-19 pandemic. Therefore, the development of backing plates that can be accessed with a smartphone will provide significant growth opportunities for the automotive backing plate market in the coming years.

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 are a few key players operating in the global automotive backing plate market. Several other market players have been analyzed to understand the market.

Automotive Backing Plate Market - by Geography, during 2021–2028 (%)

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