The automotive brake pad market is expected to grow from US$ 2,580.57 million in 2021 to US$ 3,342.58 million by 2028. It is estimated to grow at a CAGR of 3.8% during the period of 2021 to 2028.
Brake pads create friction between the caliper and disc, which helps stop the car when pressed against the brake disc. The absence of brake pads extends the braking distance, and heat from the friction won't disperse correctly, which could cause the whole braking system to overheat and lead to complete brake failure. Thus, brake pads are one of the crucial components among the disc braking system in automotive parts. Therefore, many brake pad manufacturers are entering this lucrative business. Car manufacturers are increasingly demanding brake pads that last the car's lifetime.
Key Player -
- ACDelco
- AKEBONO BRAKE INDUSTRY CO., LTD.
- Brake Parts Inc. LLC.
- Brembo S.p.A.
- Hebei Huahua Friction Material CO., Ltd.
- Nisshinbo Holdings Inc.
- Robert Bosch GmbH
- SANGSIN BRAKE
- Util Industries S.p.A
- ZF Friedrichshafen AG
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Automotive Brake Pad Market Insights
Growing Uptake of Electric Vehicles Fuels Brake Pad Usage, Creates Lucrative Opportunity for Automotive Brake Pad Market
The growing demand for low emission vehicles and supportive government regulations, such as subsidies & tax rebates for adopting zero-emission vehicles, is a potential trend, driving the automotive brake pad market. As per the IEA data, in 2020, the global electric car stock peaked the 10 million vehicles sales, a 43% increase from 2019.
Automotive Brake Pad Market – by Material Type
Based on material type, the global automotive brake pad market is segmented into the metallic brake pad, semi-metallic brake pad, ceramic brake pad, asbestos brake pad, and non-asbestos organic brake pad. The non-asbestos organic brake pad segment accounted for the largest share of the market in 2020. Moreover, the semi-metallic brake pad segment is projected to grow at a faster pace during the forecast period.
Automotive Brake Pad Market – by Vehicle Type
The automotive brake pad market is segmented into commercial vehicles and passenger vehicles based on vehicle type. The passenger vehicle segment accounted for the largest share in 2020.
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The new Powder Metallurgy Brake Pad Market report offers a comprehensive study of the current scenario of the market including major market dynamics.
Also, it highlights the in-depth marketing research with the newest trends, drivers, and segments with reference to regional and country.
The major players in the powder metallurgy brake pad market include Knorr-Bremse AG, Becorit GmbH, Westinghouse Electric Corporation, Beijing Tianyishangjia New Material Corp.,ltd., Beijing Puran Rail Transit Technology Co., Ltd., Boshen Tools Co., Ltd., Beijing Railway Star Fortune High-Tech Co.,Ltd., GOLDfren, Zhejiang Taiji Friction Material Cc.,Ltd.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Powder Metallurgy Brake Pad Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/powder-metallurgy-brake-pad-market/download-sampleMarket DynamicsBooming vehicles demand, increase in demand for effective braking during high speeds, and growing efforts towards designing high-performance vehicles drive the global powder metallurgy brake pad market.
Increased wear and tear of the brake pads and high noise levels of traditional brake pads has led to an increased shift to powder metallurgy brake pad.
The system requires fewer efforts for controlling the vehicle speed and generating minimal sound & vibrations.
This market report also allows you to identify the future opportunity and growth rate of the leading segment based on regions and countries.
The report also covers detailed competitive landscape including company profiles of key players operating in the global market.
The key players in the brake pad market include Brembo S.P.A., Continental Automotive Gmbh, Federal-Mogul LLC, ITT Inc., MAT Holdings, Inc., Nisshinbo Brake Inc., Robert Bosch Gmbh and TMD Friction Holdings Gmbh.
An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.Get more information on "Global Brake Pad Market Research Report" by requesting FREE Sample Copy athttps://www.valuemarketresearch.com/contact/brake-pad-market/download-sampleMarket DynamicsThe brake pad market is majorly driven on account of rise in demand and sales of automobiles leading to high demand for lightweight automotive brakes.
However, strict mandates while production along with volatile raw material cost is expected to hinder market growth.This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis and value chain analysis.
These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities.
