Third Party Logistics Market Survey, In-depth Analysis, Share, Key Findings and Company Profiles | COVID-19 Effects

 According to the latest market study on "Third Party Logistics Market to 2027 - COVID-19 Impact and Analysis and Forecast by Mode of Transport (Roadways, Railways, Waterways, and Airways), Services (International Transportation, Warehousing, Domestic Transportation, and Inventory Management), and EndUser (Automotive, Healthcare, Retail, and Consumer Goods), and Geography,"the marketis estimated to reach US$ 1,329.4billionby 2027 from US$ 899.4billionin 2019. The report highlights the factorsdriving and restraining the market growth, as well as enumeratesprominent players in the market with their recent developments.

Increasing adoption of e-commerce to provide growth opportunities for Third Party Logistics providers

Third party logistics (3PL) is a significant component of e-commerce in order to manage the issues of inventory, warehousing, packing, tracking, and shipping. In contrast with retail store, the e-commerce business is accountable for ensuring timely delivery and if the products are returned, the company has to manage all the operations in reverse logistics. The logistics requirement and services provided by the 3PL firms to e-commerce business are supply chain management, warehousing, consolidation service, and order fulfillment. In the e-commerce business, 3PL providers deliver flexibility and scalability, upgraded technology, and efficiency and specialization. There are numerous benefits related to e-commerce and it can be fulfilled if the company outsource their logistics requirements to a third party service provider. This enables the e-commerce participants to perform their specialized roles.Thus, it is a reliable alternative to outsource third party organization in the e-commerce ecosystem. 3PL firms are specialized in supply chain management that allow online stores to emphasize on marketing and other business operations.

The third party logistics marketis segmented intomode of transport, services, enduser,and geography. Asia Pacific held the largest share of the third party logistics market, followed by Europe and North America,in 2019. Based on mode of transport, the third party logistics market is segmented into roadways, railways, waterways, and airways. The roadways mode of transport segment led the third party logistics market in 2019.In road transport, the vehicles are owned and managed by a third party and the transportation operations are adhered to licensing, insurance, and regulation of vehicles. The vehicle also requires documentation pertaining to maximum permissible weight in terms of gross vehicle weight and payload. In third party logistics, roadways are considered one of the feasible alternative as it ensures rapid and cost-effective transportation. However, roadways transport system is weather sensitive.

Deutsche Post AG;Kuehne + Nagel International AG;Nippon Express Co., Ltd;DB Schenker (Deutsche Bahn AG);C.H. Robinson Worldwide, Inc;DSV A/S;and UPS Supply Chain Solutions (United Parcel Service, Inc.) are among the major companies offering products in third party logistics marketworldwide.

The Report Segments the Global Third Party LogisticsMarketas Follows:

By Mode of Transport
• Roadways
• Railways
• Waterways
• Airways

By Services
• International Transportation
• Warehousing
• Domestic Transportation
• Inventory Management
• Others

By EndUser
• Automotive
• Healthcare
• Retail
• Consumer Goods
• Others

By Geography
• North America
o US
o Canada
o Mexico

• Europe
o Germany
o France
o Italy
o United Kingdom
o Russia
o Rest of Europe

• Asia Pacific (APAC)
o China
o India
o Japan
o Australia
o South Korea
o Rest of Asia Pacific

• Middle East and Africa (MEA)
o South Africa
o Saudi Arabia
o U.A.E.
o Rest of MEA

• South America (SAM)
o Brazil
o Argentina
o Rest of SAM

Automotive Infotainment SoC Market: Technological Growth Map over Time to Understand the Industry Growth Rate

 According to the new research report published by The Insight Partners, titled "Automotive Infotainment SoC Market - Global Analysis and Forecasts to 2027", the global automotive infotainment SoC market is expected to reach US$ 16.08 Bn by 2027, registering a CAGR of 7.2% during the forecast period of 2019-2027.

In 2018, Asia Pacific is estimated to account to hold the largest market share, growing at a CAGR of 8.9%.

Major countries considered in the Asia Pacific region include China, India, Japan, South Korea and Rest of APAC. The Asia Pacific is one of the world's rapidly growing passenger car markets, with China accounting for close to 30% of the global passenger car production. The continuous economic growth in developed and developing countries like India and China, coupled with the presence of huge disposable incomes with individuals in countries like Japan and Australia, has facilitated the rapid growth of the automotive industry in this region. Increasing disposable incomes of the consumers has translated into the purchase of a large number of medium-range cars. In addition to this, China and India are considered among the largest manufacturing hubs globally on account of several factors, such as lower labor wages compared to other countries and supportive favorable Government policies. The Asian countries have attracted several foreign direct investments in many industrial fields, including automotive. The rapidly growing economies have translated into rising per-capita incomes and consumer expenditures. As a result of this, the APAC region witnessed very high growth in the sales of automobiles in recent times. The higher number of automobiles on the road demand for higher production and thus present large potentials for automotive infotainment SoC producers to expand their business base in APAC.

The Asia Pacific region comprises of both developed and developing economies and the automotive sector is one of the crucial industry of the region, which contributes a significant portion in the Asia Pacific's GDP. The Asia Pacific region is one the world's biggest producers of motor vehicles and also, automotive sector in one of the largest private sector in R&D. China has already seen massive growth in vehicle production as well as sales in the country. Therefore, the high production of vehicles in the region is projected to propel the automotive infotainment SoC market.

Key findings of the study:
With the adoption of open source operating systems in in-vehicle infotainment, the automotive infotainment SoC market is anticipated to see a substantial boost in its growth. The open source software is transforming various industries especially the mobile devices sector and it has a huge potential to do the same in the automotive infotainment industry. The availability of open source software is already changing the way customers interact with their cars. Open source software helps OEM in reducing costs and opening up the supply chain. From a long time, proprietary operating systems have been ruling the in- vehicle infotainment market space. However, with growing complexity of in-vehicle systems and increasing consumer demands for advanced features in infotainment systems, automotive OEMs are becoming more adaptive to new approaches.

Players that are operating successfully in global automotive infotainment SoC market space are Infineon Technologies AG, Intel Corporation, NEC Corporation, NVIDIA Corporation, NXP Semiconductors N.V., Qualcomm Incorporated, Renesas Electronics Corporation, STMicroelectronics N.V., Texas Instruments Incorporated, and Semiconductor Components Industries, LLC (ON Semiconductor).

EV Test Equipment Market is Booming Worldwide According to New Research Report

 According to our latest market study on “EV Test Equipment Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Vehicle Type, Equipment Type, Application, and End-Users,” the market is expected to grow from US$ 35,072.54 million in 2021 to US$ 118,671.47 million by 2028; it is estimated to grow at a CAGR of 20.0% from 2022 to 2028.

Innovative charging station technologies such as turbocharging, terra HP charging, smart charging systems, wireless power transmission, and bi-directional chargers are being developed by electric vehicle (EV) charging station firms. Such advancements in EV charging systems necessitate improved testing techniques. A few companies, including ROLEC, DEKRA, and TUV Rheinland, provide testing systems for EV charging stations. Smart charging is one of the most advanced charging systems. It allows for load balancing and proportional distribution of available power capacity across all active charging stations. Furthermore, it facilitates the collection of critical charging data from various stations using a single cloud-based management platform. Moreover, peak shaving is a technique for preventing unnecessary costs by lowering or interrupting a charging session if the power consumption exceeds a certain threshold. Validation through testing equipment is critical to assure the proper operation of such sophisticated charging systems. As a result, rising R&D in charging stations is likely to boost demand for EV test equipment.

Based on vehicle type, the EV test equipment market is segmented into passenger car, commercial vehicle, and low speed electric vehicles. In 2021, the passenger car segment led the market, accounting for the largest share in the market. Based on equipment type, the market is segmented into battery test equipment, motor test equipment, engine dynamometer, chassis dynamometer, transmission dynamometer, fuel injection pump tester, inverter tester, EV drivetrain test, on-board charger, and AC/DC EVSE. In 2021, the battery test equipment segment led the EV test equipment market, accounting for the largest share in the market. Based on application, the market is segmented into EV component and drivetrain system, EV charging, and powertrain. In 2021, the powertrain segment led the EV test equipment market, accounting for the largest share in the market. Based on end-users, the market is segmented into OEMs, tier 1 suppliers, research and academics, and others. In 2021, the tier 1 suppliers segment led the market, accounting for the largest share in the market. By geography, the market is segmented into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SAM). In 2021, APAC accounted for a significant share of the global EV test equipment market.

Impact of COVID-19 Pandemic on Global EV Test Equipment Market

The EV industry is gradually recovering from the significant downturn caused by the COVID-19 pandemic during the first half of 2020. According to EV-volumes.com, the global EV sales in 2021 increased by 108% than in 2020. As per the same report, Tesla led the Original Equipment Manufacturers EV ranking with 436,000 more sales in 2021 compared to 2020. As supply chain and logistics issues are being resolved, the global EV sales are estimated to return to normal growth. Increased sale of EVs is anticipated to boost the demand for advanced EV test equipment and machinery. Testing and certification in the EV landscape cover the charging interfaces and associated systems, enabling various EV components to communicate with one another. Battery and control systems, plug connectors, switches, and wires must ensure vehicle safety and work reliably without interference. A heightened focus on the light-weighting of EV batteries has brought new materials and components into the automotive supply chain, which require quality testing to verify their mechanical properties. Global EV test equipment companies partner and collaborate with several significant players to increase their focus on the research and development of test equipment solutions. Many offer automated and semi-automated testing solutions to improve throughput and generate sustainable profitability with EVs. Testing offers significant cost-reduction opportunities. As a result, labs and R&D centers are adopting automated universal test machines, which is anticipated to propel the global EV test equipment market growth after the emergence of the COVID-19-pandemic.

National Instruments Corporation; Horiba Ltd.; Arbin Instruments; Maccor Inc.; KEYSIGHT TECHNOLOGIES, INC.; Froude, Inc; Dynomerk Controls; Comemso electronics GmbH; Durr Group; TÜV RHEINLAND; INTERTEK GROUP PLC; TOYO SYSTEM CO., LTD; and WONIK PNE CO., LTD are a few key players operating in the global EV test equipment market. Several market players have been analyzed to understand the market.

Predictive Vehicle Technology Market Analysis and Outlook Report

 According to the new research report titled "Predictive Vehicle Technology Market Forecast to 2027 - COVID-19 Impact and Global Analysis", published by The Insight Partners, the market is projected to reach US$ 48.83 billion by 2027, registering a CAGR of 13.6% during 2020-2027.

APAC Accounted for Highest Share of Predictive Vehicle Technology Market in 2019
The predictive vehicle technology market in APAC comprises China, India, Japan, Australia, South Korea, and the Rest of APAC. The economy of the region is performing well due to numerous technological and infrastructural developments. The region has a strong automotive sector, which is supported by the growing automotive manufacturing industry in countries such as India, China, and South Korea. India, China, South Korea, and Japan are among the leading vehicle manufacturing countries across the world. For instance, India produced a total of 4,516,017 vehicles, of which 3,623,335 were cars in 2019. Also, in 2019, China was the largest vehicle producing country across the globe; it produced 25,720,665 vehicles in 2019, of which 21,360,193 were cars. The presence of a strong automotive sector and increasing number of passenger car manufacturers are the major factors driving the growth of the predictive vehicle technology market in the region. The continuous growth in the economies of developing countries and the presence of huge disposable incomes in Japan and Australia, among others, have facilitated the rapid growth of the automotive industry in this region. The auto manufacturers in APAC are focusing on the development of technologically advanced products to gain a strong market position. Also, automotive manufacturers prefer integrating cutting-edge solutions in their vehicles to attract a strong customer base and generate more revenues.

Therefore, a strong automotive sector and increasing disposable incomes of people are supporting the growth of predictive vehicle technology market in the region. In APAC, with the advancement of new technologies that have found advantages in big data analytics, various companies in the region are highly focused on developing better products, which can act as solutions to daily problems. Data analytics technology is being deployed in order to evaluate data patterns and make predictions about unknown future events. Carmen Automotive, a Singapore-based company, which offers big data analytics, has revealed a new-generation predictive technology, which lets to drive safe by collecting the vehicle's data in real time by analyzing and predicting issues so they can be prevented. Such a robust focus of the automotive manufacturers to incorporate predictive technology in vehicles to strengthen their position in the region is expected to drive the growth of the market in APAC.

Key findings of the study:
AI is gaining popularity across the world; it has its applications in the automotive industry, such as self-driving cars. The AI offers driver-assist and fully autonomous mode functionality to the users. Companies such as Google and Tesla are looking forward to taking advantage of stated functionalities. For instance, Tesla has gained popularity in the electric car market, and now the company is looking ahead to making a position in self-driving vehicles by integrating AI.

Moreover, the application of AI cloud platforms ensures that data is accessible whenever required. As this technology monitors a number of sensors and detects issues even before they affect the vehicle operation, the automakers are in the race of taking it. For instance, in October 2018, Microsoft and Volkswagen partnered to transform the automobile company into the digital service-driven business. By extracting the power of PowerBI, Azure IoT, and Skype, Volkswagen aims to provide telematics, customer experience, and productivity solutions. Volkswagen has realized the customers' demands to know more with regard to cloud-based AI solutions. Due to this, the company has designed projects to give Over-The-Air (OTA) software updates for their vehicles.

Owing to AI benefits, such as detection of driver's behavior, AI cloud platforms to ensure data is available on-time, and driving safety features for connected vehicles are responsible, predictive maintenance is widely adopted in the automotive industry.

Automatic Tolling System Market Report Analysis With Industry Share Published by Leading Research Firm

 According to the new research report titled “Automatic Tolling System Market Forecast to 2028 - COVID-19 Impact and Global Analysis,” published by The Insight Partners, the market is expected to reach US$ 11,065.6 million by 2028, registering a CAGR of 5.4% from 2021 to 2028.

Digitalization of toll collection can be witnessed across the globe. Italy, China, Japan, Australia, the UK, Canada, Mexico, and many more are involved using electronic toll systems. For instance, the Korea Expressway Corporation operates hi-pass system for automatic toll collection on all the national express roads and numerous BTO/BTL roads in South Korea. Similarly, Japan has executed electronic tolling collection system nearly two decades ago. In China, over 100 million drivers are equipped with electronic toll collection devices to pay toll fee automatically on the country’s highways. The electronic toll collection system is serving as a platform for smart road technology. In 2019, approximately 2,500 highways nationwide were under construction to install electronic toll collection machines. As per the Chinese government, the number of drivers in China utilizing electronic toll collection system was anticipated to grow and reach 180 million by 2019 end. Such huge estimation regarding the adoption of electronic tolling collection systems will help enabling the market growth. Also, in June 2018, the Thousand Islands Bridge Authority has chosen TransCore to develop and maintain a next generation toll collection system for international bridge connecting Hill Island, Ontario and Wellesley Island, New York. Moreover, countries such as Vietnam are working to unveil electronic toll collection system within their territories. In August 2020, The Vietnam Infrastructure Development and Finance Investment Joint Stock Company introduced electronic toll collection system on Hanoi-Hai Phong Expressway. In September 2020, Singapore has declared about their plans to commence with deploying satellite-based Electronic Road Pricing network that would remove the need of physical gantries. Such developments are boosting digitalization at tolls.

The automatic tolling system market is segmented into offering, type, and geography. Based on offering, the market is further segmented into hardware and services. In 2021, the services segment accounted for a significant share in the global automatic tolling system market. In terms of type, the market is categorized into below unmanned self-service automated tollbooth collection system, unmanned automated toll booth collection system, and unmanned wireless automated toll booth collection system. In 2021, the unmanned automated toll booth collection system segment accounted for a significant share in the global automatic tolling system market. Geographically, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SAM). In 2021, Europe accounted for a significant share in the global automatic tolling system market.

Impact of COVID-19 Pandemic on Automatic Tolling System Market

The COVID-19 pandemic has shaken several industries. The tremendous growth in the spread of the virus has urged governments worldwide to impose strict restrictions on vehicles and human’s movement. Due to travel bans, mass lockdowns, and business shutdowns, the pandemic has affected economies and countless industries in various countries. The lockdown imposition has resulted in lesser production of commodities, goods, and services. Manufacturing, automotive, semiconductor & electronics, oil & gas, mining, aviation, and other industries have witnessed a decline in their operations due to the temporary shutdown of activities.

The worldwide lockdown to minimize the transmission of virus has significantly disrupted the supply chain activities. Further, there is a restriction on foreign trades due to the lockdown of international borders, non-operational distribution channels, and various government laws to take precautionary measures for public health and safety.

Automatic tolling systems combine multiple electronic components and devices, such as transponders, cameras, RFID chips, controllers, and processors. Major suppliers of parts and raw materials are from countries such as China and the US, which are among the worst affected countries due to COVID-19. As a result of the pandemic, strict lockdowns are enforced as preventive measures, thereby directly impacting the supply chain of electronic components and devices. Thus, the delay in the supply of raw materials to manufacturers who meet the requirements of tolling system integrators is expected to cause sequential effects in the year 2020. However, in 2021, with the uplifting of lockdowns and vaccination process, the shipment of raw materials has started again. Therefore, this factor is helping in creating a positive scenario in the growth of global automatic tolling system market.

Key Findings of Study:

The new advanced technologies in toll collection for smoother flow of vehicles are widely adopted in Europe. For instance, Toll4Europe provides European electronic tolling service (EETS) tolling system and offers a range of smart value-added services. The EETS system has linked two main technologies-Global navigation satellite-based system (GNSS) and dedicated short-range communication (DSRC). Further, The Siemens Mobility & Logistics company is implementing GNSS Tolling Solution in countries such as France, Austria, and Slovakia. EFKON GmbH, FEIG ELECTRONIC GmbH, Siemens Mobility GmbH, STMicroelectronics, Thales Group, and Indra Sistemas SA are among the other prominent players of automatic tolling system in Europe.

Asia Pacific is likely to exhibit the fastest-growth rate during the forecast period because of many emerging economies such as China, India, Japan, Australia, and South Korea. In this region, governments of several nations are taking initiatives for developing road infrastructure, e.g., National Highways Authority of India (NHAI) has introduced electronic toll collection called FASTag in toll plazas on national highways. From February 2021, FASTag is mandatory for all vehicles. Further, the region is witnessing high adoption of advanced technologies for toll collection. For instance, the satellite-based electronic road pricing (ERP) network has been installed in Singapore in the first half of 2021. According to the Land Transport Authority (LTA), the next generation GNSS ERP network installation project will continue for over 18 months.

North America is also showing a promising market growth due to the increase in state and local spending, along with the growth in federal funding for highways. The external factors such as cyclical growth and dispersal of nonresidential construction activities are also stimulating the demand for the installation of transportation infrastructure, such as airport runways, private roads, and streets. Thus, with the increasing road and transportation construction activities, the development of toll booths is also observed in the region. Therefore, these factors are influencing the growth of the automatic tolling system market in the regions.

Dashboard Camera Market Overview and Regional Outlook Study

According to our new research study on “Dashboard Camera Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Technology, Product Type, Video Quality, and Application,” the dashboard camera market share is projected to reach US$ 7,260.97 million by 2028 from US$ 2,018.69 million in 2021; the dashboard camera market is estimated to grow at a CAGR of 20.1% from 2021 to 2028.

The quality of service provided by public vehicle drivers is one of the most crucial aspects of any fleet management. Regardless of vehicle size, they need skilled, responsible, and trustworthy employees that are experts in their job. It is common knowledge that monitoring significantly impacts people's behavior. People’s behavior alters when they are aware that they are being observed through a tinted glass in an interrogation room or a surveillance camera at the workplace. Commercial vehicle dashboard cameras can have a similar effect on drivers, benefiting vehicle owners.

Logistics monitoring assists in tracking fleets that are constantly moving, and transporting freight and materials worldwide. As much of their performance depends on time and punctuality, having trustworthy technology to assist with logistics management is critical. Commercial fleet providers can stay ahead of the competition with an AI-supported dashcam logistics fleet monitoring system. It is simple to track freight using a network of dash cameras integrated with a control center, showing the location of all the fleet's vehicles. Logistics companies use computers or mobile devices to load all semi-trucks and logistics cargo sites. Vehicle whereabouts are sent to dispatch in real time, allowing them to schedule freight pickup and arrival schedules. For instance, the installation of iDrive Camera Systems allows drivers to stay alert and focused on the camera to create a safe environment, and help avoid crime and vandalism on vehicles. Thus, the surging need for dashcams is boosting the growth of the dashboard camera market players.

Based on technology, the dashboard camera market is segmented into basic, advanced, and smart. Based on product type, the dashboard camera market is segmented into 1-channel, 2-channel, and rear view (front and rear view). Based on video quality, the market is segmented into SD and HD, and full HD and 4K. Based on application, the market is segmented into commercial vehicle, and personal vehicle. Based on geography, the market is segmented into five major regions—North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM).

Impact of COVID-19 Pandemic on Dashboard Camera Market

The COVID-19 crisis had a domino effect on the global automotive sector since its inception in China, where sales of vehicles dropped by 71% in February 2020. Subsequently, sales declined by 47% in the US and 80% in Europe by April 2020. However, as the supply chain regained some strength from the third quarter of 2020 to the second quarter of 2021, automakers witnessed a steady rise in production levels. Furthermore, the crisis has brought rapid transformation across the mobility value chain and accelerated the digitization process. Although the pandemic-related restrictions led to prolonged or periodic shutdowns of production lines, non-manufacturing operations continued with secure connections through work-from-home or remote work models. Hence, the dashboard camera market growth was affected to a greater extent during the pandemic.

ABEO Technology CO., Ltd, Garmin Ltd., Pittasoft Co. Ltd., Falcon Electronics LLC, Panasonic Corporation, Cobra Electronics Corporation, SAFE CAMS, THINKWARE, Harman International, and LG Innotek are among the major companies operating in the dashboard camera market.

Automotive Brake Shims Market Report Analysis With Industry Share Published by Leading Research Firm

 According to our latest market study on “Automotive Brake Shims Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Material Type and Application,” the market is expected to grow from US$ 540.78 million in 2021 to US$ 705.11 million by 2028; it is estimated to grow at a CAGR of 3.9% from 2021 to 2028.

Electric vehicle (EV) production is rising continuously. According to the article published by EV-volumes.com, global EV sales accounted for 6.75 million units in 2021, 108% more than in 2020. This volume includes passenger vehicles, light trucks, and light commercial vehicles (LCV). With the rising growth of the EVs industry, the adoption of new braking systems is growing rapidly.

Many electric cars utilize regenerative & mechanical braking systems; these systems help save energy. Regenerative braking technology enhances the life of friction brake systems. In December 2019, Brembo focused on developing advanced brakes suitable for electric vehicles (EVs). Similarly, in August 2021, Continental AG emphasized restructuring disc brakes for EVs. The company created a minimalist brake caliper that removes all extra material to decrease the weight to a bare minimum. Moreover, Continental AG is exploring the possibility of lightweight aluminum brake components with the potential to handle EVs and reduce braking demands with minimal price and weight as compared to other brakes. The rising demand for EVs increased the number of disc brakes manufacturers, boosting the demand for automotive brake shims.

Based on material type, the automotive brake shims market is segmented into rubber coated, PSA material, thermoset material, and others. In 2021, the others segment led the market, accounting for the largest share in the market. Based on application, the market is segmented into two wheeler, passenger vehicle, and commercial vehicle. In 2021, the passenger vehicle segment accounted for the largest market share. By geography, the 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 in the global automotive brake shims market.

Impact of COVID-19 Pandemic on Automotive Brake Shims Market

Before the emergence of the COVID-19 pandemic, the demand for automotive brake shims was high due to the growing passenger vehicles sales. According to the article published by the Society of Indian Automobile Manufacturers, 33,77,436 units of domestic passenger vehicles were sold during 2018-2019, surpassing the previous record of 32,88,581 units during 2017-2018. The growth in the sale of passenger vehicles in India was supported by the growth of the automotive brake shims market.

In 2020, the COVID-19 pandemic adversely affected the global automotive industry. The outbreak created significant disruptions in the manufacturing of products, including cars. A sharp decline in manufacturing automobiles impacted the growth of the global automotive brake shims market. Further, the data collected from OICA (Organisation Internationale des Constructeurs d'Automobiles) show a 16% decline in 2020 vehicle production to less than ~78 million vehicles. Moreover, factory shutdowns, travel restrictions, trade bans, and border lockdowns were imposed to combat and contain the outbreak; these restrictions disrupted the manufacturing, supply, and sales of automobile components required to manufacture cars.

In 2021 and 2022, the automotive industry witnessed a significant rise in sales of vehicles. According to the International Energy Agency (IEA) report of December 2021, the growth in global vehicle sales in 2021 was 4% more than in 2020. in November 2021, a few key car markets recorded a significant market share of electric cars, such as Germany (above ~34%), the UK (28%), France (over ~23%), and China (18%), as per the same report.

The COVID-19 pandemic hampered the automotive brake shims market due to decreased production of automobile components in 2020. However, the automotive brake shims market will grow during the forecast period due to increased sales of automotive vehicles.

Bosch Auto Parts, AVERY DENNISON CORPORATION, BREMBO S.P.A., Trelleborg Group, Delphi Technologies, Meneta, Super Circle, NUCAP, Brake Performance, and TEXTAR Brake Technology are a few key players operating in the global automotive brake shims market. Several players have been analyzed to understand the global automotive brake shims market.