The Brake System Parts (Except Motor Vehicle Linings) market in South Africa exhibited fluctuating trends from 2012 to 2022. The market size saw declines from 2012 to 2015, hitting a low in 2015. A turnaround began in 2016, leading to consistent growth, peaking in 2022 with a value of $923.65 million. The average annual growth rate (CAGR) over the last five years stood at 4.12%, indicating a resilient market despite the dip in 2020 due to external economic factors, likely the pandemic. The market rebounded strongly in 2021 and 2022 with significant year-on-year variations of 16.76% and 7.3%, respectively.
Future trends to watch for:
- Technological advancements in braking systems, such as electronic braking and advanced safety features.
- Increased adoption of electric and hybrid vehicles, which may influence the demand for brake system parts.
- Regulatory changes and safety standards impacting the manufacturing and sale of brake systems.
How does South Africa rank in Brake System Parts (Except Motor Vehicle Linings) Market Size Value?
| # | 45 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 22,976,000,000 | 2023 | +4.79% | +4% | View data |
| 2 | 2 Japan | 7,095,400,000 | 2023 | -1.42% | -1.92% | View data |
| 3 | 3 United Kingdom | 5,853,800,000 | 2023 | +0.35% | -1.02% | View data |
| 4 | 4 Italy | 5,843,800,000 | 2023 | +0.34% | -0.96% | View data |
| 5 | 5 France | 5,783,300,000 | 2023 | -1.43% | -3.01% | View data |
| 10 | 10 Australia | 1,125,900,000 | 2023 | +0.32% | +0.33% | View data |
| 11 | 11 Belgium | 1,108,700,000 | 2023 | -1.87% | -0.58% | View data |
| 12 | 12 South Africa | 940,830,000 | 2023 | +1.86% | +2.05% | |
| 13 | 13 Austria | 616,650,000 | 2023 | +2.1% | -1.55% | View data |
| 14 | 14 Saudi Arabia | 518,390,000 | 2023 | +0.091% | -0.4% | View data |
