Brake Friction Market To Reach USD 17.7 Billion By 2032 | DataHorizzon Research [Yahoo! Finance]
General Motors Company (GM)
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Source: Yahoo! Finance
Fort Collins, Colorado, April 30, 2024 (GLOBE NEWSWIRE) -- Growing demand for automotive spare parts drives the industry's growth. The surge in global automobile demand is a key driver of market growth. The National Automobile Dealer Association (NADA) reported that the demand for automobiles surpassed supply in 2022, indicating a robust market. Notably, sales of light trucks and alternative fuel vehicles, such as plug-in hybrids and battery electric vehicles (EVs), in the U.S. witnessed a respective increase of 1.6% and 2.7% compared to 2021. The rising popularity of EVs can be attributed to various government initiatives promoting green transportation and the inherent benefits of electric vehicles. This burgeoning demand for EVs fuels the need for advanced braking systems by original equipment manufacturers (OEMs). Moreover, stringent government regulations exert additional pressure on the braking friction market. These regulations ensure vehicle safety by mandating stopping
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GM
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- 4/25/24 - Form PX14A6G
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