Automotive Brake Components Aftermarket Market to Grow at YOY of 2.53% between 2022 and 2023, Insights on Post- Covid Analysis and Recovery-TechnavioAutomotive Brake Components Aftermarket Market to Grow at YOY of 2.53% between 2022 and 2023, Insights on Post- Covid Analysis and Recovery-Technavio
NEW YORK, Jan. 23, 2023 — According to Technavio, the global automotive brake components aftermarket market size is estimated to grow by USD 14.07 billion from 2022 to 2027. The market is expected to grow at a CAGR of 3.2%. Moreover, the growth momentum will accelerate. COVID-19 negatively impacted the growth of the market, as the demand for new cars declined in 2020. However, developed economies in APAC, namely Japan, South Korea, and Australia, have been able to control COVID-19, which will support market growth in these countries. China has also controlled the spread of the disease and resumed manufacturing… [...]