Global Automotive Brake Pads Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2029
“Global Automotive Brake Pads Market” is the title of an upcoming market research report by MarketResearch.biz. Key factors factors have been analyzed and studied comprehensively to present vital data and information in a well-planned format. In addition to the revenue shares of each segment, region, and country, revenue growth driving factors, restraints, as well as opportunities in untapped regions and economies are included. The company profiles of key players comprise detailed information, recent developments, strategies, acquisitions & mergers, etc. The global automotive brake pads market is segmented by end-user, solutions, and regions/countries.
Brake pads are an integral part of the disc braking system for automotives. When the brake pedal is engaged, the brake pads press against the running disc in order to stop its motion and halt the vehicle. Brake pads are essentially made of materials that possess a high co-efficient of friction.
Automobile companies are equipping vehicles with advanced disc brakes to allow for an efficient braking system to ensure the safety of the driver and passengers of a vehicle. This is a major factor that is contributing to the growth of the automotive brake pads market over the coming years. When compared to drum brakes, disc brakes generate lesser heat and enables better control. Owing to the generation of lesser heat, the service life of these brakes are extended. Furthermore, these brakes generate lower frequency sounds and lesser vibration, which, in turn, is expected to increase the demand for disc brakes, fueling this market’s growth.
The production of vehicles is rising across the globe and this is expected to further surge the automotive brake pads market’s growth. Technological advancements, as well as the development of an environment friendly & lightweight braking system, will open new avenues for the target market. Pad manufacturers are focusing on developing products by incorporating advanced friction materials to ensure enhanced vehicle control.
Restraints: However, increasing prices of raw materials are expected to restrain market growth to some extent.
By Vehicle: The PCV segment is expected to account for the majority revenue share over the coming years. Furthermore , rising passenger car sales across the globe
By Material: The ceramic automotive brake pads segment is expected to register high growth rate over the next 10 years. Factors such as performance consistency and high stability irrespective of temperature range is driving growth of the segment.
By Sales Channel: The OEM segment is projected to account for major revenue share in automotive in the coming years. The original equipment manufacturers are improving product features to reduce noise and offer better friction so as to enhance vehicle performance.
By Position : Front automotive brake pads market size will witness momentous growth with its installation to ensure proper braking distance between vehicles. The front braking system provides around 70% braking power to control vehicle movement. Large surface area for improved friction and braking performance along with wide heat capacity range will further drive the product demand in next six years.
Global Automotive Brake Pads Market Regional Analysis:
The market in Asia Pacific is expected to account for majority revenue share over the forecast period owing to increasing demand for two-wheelers in the region. Increasing diposable income among consumers has led to growth of adoption of vehicles in the region. In addition, companies such as Hitachi Chemical Co Ltd., Hangzhou Henli Friction Material Co and Sangsin Brake Co Ltd Ltd are present in the region which provides a boost to the production of vehicles and growth opportunities for the market in the region.
The market in Europe is projected to account for significant growth over the next 10 years. This growth is attributed to increase in the production and adoption of high-performance vehicles. Furthermore, issuance of orders by government bodies to install disc brakes is expected to support market growth in the region. For example, in 2013 mandates were given by the European Commission (EC) to install anti-lock braking systems in motorcycles for promoting road safety and avoiding fatal accidents. Moreover, presence of major automotive companies such as Volkswagen, Daimler AG, and BMW, in t the region is expected to drive growth of the market in the region.
Global Automotive Brake Pads Market Segmentation:
- Automotive industry
- Metal industry
- Electronics industry
- Hardware and software solutions
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2020 Estimated Year 2021 Forecast Period 2021–2030 Revenue in US$
- Akebono Brake Corporation
- Allied-Nippon Limited
- Brakes India Pvt. Ltd.
- Brakewel Automotive Components India Pvt. Ltd,
- U.D Holdings
- Hindustan Composites Limited
- Makino Auto Industries Pvt. Ltd.
- MAT Holdings
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