USA Automotive Brake System Market Shipment Analysis
USA Automotive Brake System Market registered a growth of 26.66% in value shipments in 2022 as compared to 2021 and an increase of 16.32% CAGR in 2022 over a period of 2017. In Automotive Brake System Market USA is becoming more competitive as the HHI index in 2022 was 2676 while in 2017 it was 5052. Herfindahl Index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means less numbers of players or countries exporting in the market.
USA has reportedly relied more on imports to meet its growing demand in Automotive Brake System Market. India is unable to meet its increasing needs of this product with domestic production hence we see the trend is shifting towards import shipment to meet its demand The import factor of Automotive Brake System Market in 2022 was 3.11 while in 2017 it was 0.81. Mexico, China, India, Japan and Rep. of Korea were among the top players of the market in 2022, where Mexico acquired the largest market share of 38.31% with a shipment value of 2899.06 million USD in 2022 Mexico also offered the product below the average market price thus having a competitive advantage over others In 2017 China had the largest market share of 68.15% with the shipment value of 1644 million USD. The country was offering its product with an average price which is lower than the average market price offered in the country. As Chinaprice is lower than the average price, it provided a significant edge among other competitor in 2017.
