Global Automotive Brake Pads Market is expected to foresee significant growth. APAC to lead the growth!
- Himanshu Patni
- November 21, 2022
- Automotive Brake Pads Market, Automotive Brake Pads Market Growth, Automotive Brake Pads Market Share, Automotive Brake Pads Market Size, Automotive Brake Pads Market Trends
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Brake pads are automotive components that belong to the family of disc brakes. These are steel plates having frictional materials to facing disc brake rotors. It is a component that changes the kinetic energy to thermal energy by the friction created because of it.
The Global Automotive Brake Pads Market is expected to witness a significant CAGR of around 4% during the forecast period owing to the rising adoption of air disc brakes in commercial vehicles coupled with the rollout of stringent safety regulations and adoption advance braking systems in high-end and luxury cars. Furthermore, major two-wheeler OEMs are integrating new and innovative brake pads and braking systems in their vehicles mainly increasing passenger safety and comfort. For instance, in Feb 2022, Brakes India launched a range of high-performance brake pads specially designed to offer enhanced braking at high speeds and in hilly terrain. The new ‘Elite’ brake pads launched under the TVS Apache are stripe coated with the proprietary ABRACOAT technology.
For a detailed analysis of the Global Automotive Brake Pads Market browse through – https://univdatos.com/report/automotive-brake-pads-market/
Based on material type, the market is categorized into semi-metallic, non-asbestos organic (NAO), low-metallic NAO, and ceramic. NAO brake pads are generally made from organic materials including fiber, glass, rubber, and Kevlar. NAO category to witness steady growth during the forecast period owing to high heat withstanding properties coupled with low ownership costs. These pads are pretty quiet but can wear faster and produce a lot of brake dust which will impact the category’s growth.
Based on sales channel, the automotive brake pads market is divided into OEMs and aftermarket. The aftersales segment is expected to witness the highest growth during the forecast period. The annual replacements carried out in each nation and region are represented by the aftermarket distribution channel in this instance. Additionally, it is anticipated that the proportion of aftermarket brake pads in the worldwide market would rise as a result of the rise in distributors, retailers, and online channel partners offering competitive rates. For instance, boodmo is an online marketplace of automotive components and products in India. 1 million varieties of spare parts by 400 suppliers of over 3,000 Indian as well as international brands available on its e-store.
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For a better understanding of the market adoption of the automotive brake pads industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. APAC is anticipated to grow at a substantial CAGR during the forecast period. APAC grabbed the leading market share of the global automotive brake pads market in 2020, and it is expected to grow with considerable CAGR during the forecast period owing to the growing working population and expanding middle-class population thus creating demand for new-age vehicles. Furthermore, the presence of a large pool of skilled & semi-skilled workforce and cost-effective manufacturing in countries like India and China along with the presence of a vast number of automobile manufacturing businesses and OEMs in the region is further expected to drive the market.
Some of the major players operating in the market include Robert Bosch GmbH, Tenneco Inc., AISIN SEIKI Co. Ltd., ZF Friedrichshafen AG, ACDelco, Akebono Brake Industry Co. Ltd., ASIMCO Technologies, Brembo S.p.A., Japan Brake Industrial Co. Ltd., and Masu Brakes Private Limited.
Global Automotive Brake Pads Market Segmentation
Market Insight, by Material Type
• Non-asbestos Organic (NAO)
• Low-metallic NAO
Market Insight, by Sales Channel
Market Insight, by Vehicle Type
• Passenger Cars
• Commercial Vehicles
Market Insight, by Region
- North America
- Rest of North America
- United Kingdom
- Rest of Europe
- Rest of Asia-Pacific
- Rest of the World
Top Company Profiles
- Robert Bosch GmbH
- Tenneco Inc
- AISIN SEIKI Co. Ltd.
- ZF Friedrichshafen AG
- Akebono Brake Industry Co., Ltd.
- ASIMCO Technologies
- Brembo S.p.A.
- Japan Brake Industrial Co., Ltd.
- Masu Brakes Private Limited