Brake Pads Market Size, Industry, Product Research Report By Business Outlook And Forecast 2030

Market Overview:

Global Brake Pads Market was valued at USD 9.12 Billion in 2021 and is expected to reach USD 15.4 Billion by the year 2028, at a CAGR of 4.8%.

A part of disc brakes used in automobiles and other applications are brake pads. Steel pads with a friction substance connected to the contact surface of the braking disc's rotors make up brake pads. Through friction, brake pads turn the kinetic energy of the moving object into heat. The friction surface of the two brake pads, which are housed inside the brake and are facing the rotor, is exposed. The caliper clamps or squeezes two spacers together on the rotating rotor during hydraulic braking to slow the car down and bring it to a complete stop.

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Players Covered in Brake Pads Market are:

· ASIMCO

· Brembo S.p.A.

· ACDelco

· Akebono Brake Industry Co. Ltd.

· Allied-Nippon Limited

· ATE. Bosch Auto Parts

· Brakes India Pvt. Ltd.

· Brakewel Automotive Components India Pvt. Ltd.

· Rane Brake Lining Limited

· G.U.D Holdings

· Sundaram Brake Linings

· Hindustan Composites Limited

· Makino Auto Industries Pvt. Ltd

· MAT Holdings

· AISIN SEIKI Co. Ltd.

· Nisshinbo Group Company

· Ranbro

· AVS BRAKE LININGS Private Limited

· Brakes India Limited

· Brake Parts Inc.

· STEINHOF

· ASK Automotive Pvt. Ltd.

· Tenneco Inc

· BSK Auto Industries

· TMD

· ZF Friedrichshafen and others major players.

Market Dynamics:

Driver:

Due to the small size of their components, automotive brake pads continue to be a challenging task for traditional production that prioritizes mass production. However, new additive manufacturing or 3D printing technology holds the potential of producing quick prototypes at significant cost savings. The method promises to cut expenses while also lowering the heat, which is frequently the root of brake system issues. Technology advancements have decreased vehicle downtime by around 30%, according to NHTSA. The battle is set to get more intense as more and more car manufacturers expand, as technologies like 3D printing are also paving the door for better brake pads for racing cars and providing a niche market for electric car brands.

Opportunities:

It is anticipated that the market would see investment opportunities as a result of ongoing improvements in braking systems and the development of organic fibers such as palm kernel shells to comply with emissions laws. The increasing GDP of the global population has increased people's disposable income, which has increased car sales. The market for brake pads has grown as a result of the rise in car sales worldwide. The incorporation of various technologies, such as ABS and EBD, as standard feature in most automobiles is due to rising safety awareness among vehicle consumers and government authorities.

Key Chapter Will Be Provided In The Report

· Patent Analysis

· Regulatory Framework

· Technology Roadmap

· BCG Matrix

· Heat Map Analysis

· Price Trend Analysis

· Investment Analysis

· Company Profiling and Competitive Positioning

· Industry Value Chain Analysis

· Market Dynamics and Factors

· Porter’s Five Forces Analysis

· Pestle Analysis

· SWOT Analysis

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Market Segmentation

Segmentation Analysis of Brake Pads Market:

Based on the material type, the non-asbestos organic segment is expected to dominate the brake pads market during the forecast period. Most new cars sold in the United States are equipped with the manufacturer's organic brake pads. These pads are also known as non-asbestos organic (or NAO) pads. They were developed to replace the asbestos sheets used many years ago. Although some vehicles come from the factory with other types of brake pads, when someone refers to OEM brake pads, they usually mean organic pads.

Based on the vehicle type, the commercial vehicle segment is anticipated to hold the maximum brake pads market share during the forecast period. Commercial cars have the largest market share of around 43% globally thanks to an increase in demand and concurrent production, as well as the effective adoption of vehicle brakes.

Based on the distribution channel, the Aftermarket segment is expected to hold the maximum brake pads market during the forecast period. Aftermarket components include any options you may install that are not made by your vehicle's original manufacturer. Aftermarket parts are widely available and sold at many auto parts retailers, so they are more widely accessible than OEM parts.

By Type

· Semi-Metallic

· Non-Asbestos Organic

· Low-Metallic Nao

· Ceramic

By Vehicle

· Two-Wheeler Vehicle

· Passenger Vehicle

· Commercial Vehicle

· Off-Road Vehicle

By Distribution Channel

· Original Equipment Manufacturer

· Aftermarket

Regional Analysis of Brake Pads Market:

North America is expected to become dominant in terms of automotive brake pads market share. Strong sales and growing vehicle output are expected to drive growth. Furthermore, manufacturers invest heavily in research and development to produce advanced automotive brake pads. They focused on reducing brake pad size and improving heat dissipation. Hence, upcoming product developments and innovations are expected to drive the growth of the market.

· North America

o US

o Canada

o Mexico

· Eastern Europe

o Bulgaria

o The Czech Republic

o Hungary

o Poland

o Romania

o Rest of Eastern Europe

· Western Europe