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%.
Increasing safety awareness among passengers and pedestrians, government mandates to drive advanced safety features and installation of sliding brakes are the major factors driving the market growth. Development of brake pad materials, such as use of organic brake pad materials, and development of brake pads for specific land wheel vehicles is expected to provide additional growth opportunities for the attraction of the market the size of electric vehicles.
Technologically, automotive brake pad market extends its application to a wide range of heavy machinery and equipment beyond conventional vehicles Industries such as construction, design, mining, agriculture etc. use brake pads systems are used to ensure the efficiency and effectiveness of their machinery , playing an important role in suspension and persistence
Who are the key players operating in the industry?
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 Other Major Players.
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The main driver behind this growth is the increasing demand for automobiles worldwide. Increasing disposable income and urbanization have led to a significant increase in the number of car buyers, which has led to an increased demand for brakes with stricter government regulations on vehicle safety and emissions disposal management has also played an important role in the growth of this market. With accidents and deaths on the rise, governments around the world have taken drastic action. These regulations are in place to ensure the safety of drivers and pedestrians, and reduce the negative impact of vehicles on the environment.
This factor has also opened up opportunities for new players to enter the market. The increasing demand for high-quality brakes has enabled smaller manufacturers to compete with larger established brands by offering innovative and cost-effective solutions This has created a diverse and competitive market, which grows comes at the expense of both consumers and the industry.
The Report on Platform As A Market provides detailed analysis of segments in the market based on:
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
By Region
· North America (U.S., Canada, Mexico)
· Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
· Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
· Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
· South America (Brazil, Argentina, Rest of SA)
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Automotive Brake Pads Market Trends
An important component of any automotive braking system is the brake pad. A heavy vehicle traveling at 100 km/h in 5 seconds generates more than 100 kW of heat in an area of only 50 cm2. That heat is dissipated in the brakes. Temperatures can reach 600°C in seconds, much higher in extreme conditions. Recently, with increased focus on HSE (Health, Safety, Environment), automotive brake pad manufacturers are exploring alternatives to traditional materials on such as lead and materials, this enables precise control and fast response times, ensuring safety and efficiency .
On the other hand, the integration of advanced sensors and software in braking technology is an emerging trend and shapes the future of vehicle safety and braking systems To stimulate innovation in system design, development and operation is leadership in software applications. Delphi, Delphi, for example, sends out billions of planning codes every day, demonstrating its heavy reliance on software and its impact in the automotive industry
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Key Industry Developments In Brake Pads Market
· In December 2021, Brembo has launched a new upgrade program around the world. The program includes a unique interface and style designed to give enthusiasts the best choice of braking components for high-performance vehicles. Brembo UPGRADE replaces OE products and takes customers' vehicles to the next level of braking performance. The UPGRADE product line includes the Sport, GT, and Pista product lines. Each has special braking characteristics and price levels.
· In October 2021, Akebono Brake Industry Co., Ltd. declared that its products have been adopted as one of its vehicles by Lynk & Co, a luxury automobile brand of Geely Automobile Group headquartered in China. Akebono Brake supplies 4-piston disc brake calipers and copper-free disc brake pads to the front wheels of the 05+ model, a high-performance SUV. This is the first time that a Lynk & Co brand Akebono product has been used.
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