Global Cast Iron Brake Disc Market Size will Reach $5838.28 Million in 2023

Global Cast Iron Brake Disc Market Overview

According to Global Market Monitor, the global cast iron brake disc market size will reach $5838.28 million in 2023 with a CAGR of 3.56% from 2023 to 2028.A disc brake is a type of brake that uses calipers to squeeze pairs of pads against a disc or "rotor" to create friction, slowing the rotation of a shaft.

China Dominated the Cast Iron Brake Disc Market.

The growth of the automotive industry in the Asia Pacific region provides opportunities for the cast iron brake disc market. The increase in traveling speeds as well as the growing weights of cars has made the improvements essential. The development of automotive manufacturing industries in developing economies such as China and India is driving the market for cast iron brake discs. Factors such as low-cost disc brakes as well as consumer preference towards safety are some of the factors pushing the market. With the rapid development of manufacturing industries, the market for drum brakes is also expanding. At the same time, with the process of urbanization, the increase in the number of construction activities and the government's smart city initiatives will also promote the development of the drum brake market. China dominated the cast iron brake disc market in 2022, with a market share of 30.75%.

Market Drivers and Restraints

In recent years, the global automotive industry is maturing and the total vehicle production has shown a steady growth trend. With the development and upgrading of technologies, the automotive industry will also usher in a new wave of development, which will inevitably lead to the expansion of the drum brake market. As science and technology continue to develop, products need constant innovation and improvement to adapt to the market. The upgrade of technology overcomes the shortcomings of the product such as the hot drawbacks, and the drum brake market will gain a greater competitive advantage and further expand the market.

Drum brakes have problems such as poor heat dissipation and water stability. If these defects cannot be improved, the market for drum brakes may be affected.As a kind of brake disc, cast iron is more affordable and has a high coefficient of friction compared with other materials such as stainless steel, ceramic, and other brake discs. But at the same time, some characteristics of its raw materials including weight have also caused some shortcomings. There is a demand for brake discs in different products on the market, so the threat of substitutions is inevitable. Enterprises need to strengthen product innovation, overcome product defects, and provide differentiated products to gain a larger market share.

Drivers	Use of Electronic Components
	Increasing Security Awareness
	The Growth of the Automotive Industry
Challenges	The Weight of Cast Iron
	Raw Material Price Fluctuation