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Frost & Sullivan Finds Value-added Solutions and Differentiation Propel Selected Brake Components Aftermarket - The increasingly commoditized North American selected brake components aftermarket causes the demand for the higher priced products, such as premium rotors and loaded calipers, to decline
Frost & Sullivan Finds Value-added Solutions and Differentiation Propel Selected Brake Components Aftermarket

 

NewswireToday - /newswire/ - Mountain View, CA, United States, 2009/01/22 - The increasingly commoditized North American selected brake components aftermarket causes the demand for the higher priced products, such as premium rotors and loaded calipers, to decline.

   
 
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Manufacturers find it challenging to distinguish product types simply based on cost. As a result, vendors in this space have been trying to justify the steep price difference by citing the offer of value-added features or improved service levels.

New analysis from Frost & Sullivan (automotive.frost.com), North American Selected Brake Components Aftermarket, finds that the market earned revenues of over $1.2 billion in 2007 and estimates this to reach $1.9 billion in 2014.

If you are interested in a virtual brochure, which provides manufacturers, end users, and other industry participants with an overview of the North American selected brake components aftermarket, then send an email to David Escalante, Corporate Communications, at david.escalante[.]frost.com, with your full name, company name, title, telephone number, company email address, company website, city, state and country. Upon receipt of the above information, an overview will be sent to you by email.

“Through successful positioning and marketing efforts, vendors of rotors have built a brand name for their products to be able to command a high price for premium products,” says Frost & Sullivan Research Analyst Ratika Garg. “However, technicians and installers are now realizing that the value derived from a premium rotor is little compared to its price, thereby preferring to use an economy rotor.”

Similarly, in the brake caliper market, customers shift towards semi-loaded calipers from loaded calipers. The main reasoning for this shift is because the semi-loaded calipers are more economical and provide customers with the flexibility of selecting their own choice of friction material.

Competition, especially in the brake components segment, revolves around the price factor. The market is flooded with low-cost products, especially from China, resulting in severe price competition between overseas and North American vendors. Because production costs remain high in North America than overseas markets, domestic manufacturers feel the pinch of increased cost. Diminishing profit margins and the inability to invest undermine the rate of technological innovation in this marketplace.

In addition, the combination of high gas and raw material prices restrain the demand for higher priced products such as loaded calipers and premium rotors. Less usage prevents the wear and tear of brake components, thus affecting the replacement rate of these products.

The economic downslide causes consumers to restrict spending on services and reduce the frequency of service. Besides, they are hesitant to spend on premium products unless superior value offers enhanced features or ratcheted up service levels.

“Superior features and benefits will enable installers to up-sell to consumers, thereby driving overall revenue growth in the selected brake components aftermarket,” explains Garg. “Also, enhanced quality will reduce comebacks, improve customer satisfaction levels, and strengthen brand loyalty.”

Meanwhile, heightened environmental awareness shifts the focus to lighter cars, as heavier cars consume more fuel and produce more exhaust emissions. By producing lightweight replacement parts, manufacturers have the advantages of cost reduction and compliance to the fuel efficiency standards imposed by National Highway Transportation Safety Administration (NHTSA) under its Corporate Average Fuel Economy (CAFE) regulations.

To compete effectively, manufacturers must focus on penetrating installer networks and creating a loyal installer base. In addition, the ability to augment brand loyalty among the major influencers such as technicians and installers will be a critical factor driving growth. It is imperative to identify the installer’s day-to-day business needs, training programs, and on-site visits, and propagate the value of manufacturer’s brands, to make all participants along the value chain more competitive.

North American Selected Brake Components Aftermarket is part of the Automotive and Transportation Growth Partnership Service program, which also includes research in the following markets: analysis of the attitudes and behaviors of U.S. vehicle modification enthusiasts, the North American school bus telematics markets, and the North American wiper blades and refills aftermarket. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants. Interviews with the press are available.

Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best in class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best practice models to drive the generation, evaluation and implementation of powerful growth strategies. Frost & Sullivan leverages over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from 31 offices on six continents.

North American Selected Brake Components Aftermarket - N37D

 
 
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Frost & Sullivan Finds Value-added Solutions and Differentiation Propel Selected Brake Components Aftermarket

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Publisher Contact: David Escalante 
210.477.8427 david.escalante[.]frost.com
 
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