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At a CAGR of 7.6% between 2023 and 2030, the global market for automotive brake pads is expected to increase from its 2022 valuation of $3.28 billion to $6.15 billion.
The brake pads on a car are what create the friction that brings the car to a halt. They are a crucial component of the disk brakes on a car. These brake pads press on the rotating disc when the brakes are applied, slowing or stopping the vehicle. The kinetic energy of the vehicle is transformed into thermal energy by the friction created when the brake pads are pressed against the rotors by the braking caliper.
Brake pad producers are working hard to keep up with the latest technological developments in an effort to make driving easier and safer for consumers. Manufacturers have expanded the functionality of brake pads by creating ABS systems and other anti-collision devices. Anti-lock braking systems (ABS) and regenerative braking systems (RBS) have recently cornered the market for brake pads in the United States and Europe. The global market for regenerative braking pads for electric vehicles was estimated to be worth $3.5 billion in 2020. Regenerative braking and the introduction of a brake-by-wire system are two examples of technological advancements that provide promise for the vehicle brake pad industry in emerging economies.
When the brake pad is placed against the brake disc, friction is created between the caliper and disc, allowing the vehicle to come to a stop. Lack of brake pads increases stopping distance and prevents proper heat dissipation from friction, which can cause the entire braking system to overheat and fail. Therefore, brake pads are an important part of the disc braking system in vehicles. As a result, numerous businesses see potential in producing brake pads. Brake pads that last the lifespan of a vehicle are becoming more and more of a necessity for automakers.
Anti-lock braking systems (ABS) and autonomous braking systems (ABS) are now standard features on nearly all new cars thanks to increased consumer and government focus on safety. The global market for automobile brake pads benefits greatly from these technological advancements. There has been a recent influx of new companies into the brake pad market, all of which plan to introduce high-performance, high-quality friction materials made possible by cutting-edge research and production techniques. The industry is dedicated to improving the quality and longevity of high temperature brake pads. Long-term supply agreements between brake pad manufacturers and automakers help manufacturers maintain a steady supply and solidify their position in the market.
Manufacturers have increased their selection of brake pads to accommodate the needs of automotive professionals, satisfy the requirements of regulatory constraints, and deliver brake pads with the highest possible stopping effectiveness, control, and longevity. In October 2022, for example, FDP Virginia announced the addition of 63 new product numbers to its line of premium brake pads produced at its Tappahannock, Virginia headquarters. When it comes to copper and other components used in brake pads, these pads either fulfill or surpass EPA guidelines, which require less than 5% by weight by 2021 and 0.5% by 2025. Brake pads in modern vehicles are designed to provide optimal comfort, longevity, and performance for drivers. Brake pads are wearing out faster because of global traffic congestion. When these original equipment manufacturer (OEM) pads wear out, car dealers, independent repair shops, and quick assemblers swap them out for aftermarket (AM) pads. This boosts demand in the brake pad aftermarket, which in turn drives the automobile brake pad industry.
According to the UK's Department of Transport Statistics, faulty brakes are a common cause of accidents. There is a growing need for high-end vehicle brake components due to causes including technological advancements, worries about driver safety, and the general lack of road safety enforcement, especially in developing nations. The demand for cutting-edge electronic brake systems will increase as consumers learn more about the safety features and standards mandated by the new vehicle Assessment Programme.
The National Highway Traffic Safety Administration of the United States Department of Transportation has advocated for the production of automated emergency braking systems (AEB). Injuries from traffic accidents can be minimized or eliminated altogether with the help of low-speed AEBs. Anti-lock braking systems will be required on all new motorcycles in India as of April 1, 2018, per a proposal from the Ministry of Road Transport and Highways. Manufacturers of brake pads will respond to these demanding standards by creating ever safer products. New passenger vehicles from Ford, Honda, Kia, and Nissan will all come standard with AEB by 2020.
Report Coverage
Global Automotive Brake Pads research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Automotive Brake Pads report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Automotive Brake Pads competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Automotive Brake Pads market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Automotive Brake Pads market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Automotive Brake Pads market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
ADVICS Co., Ltd., Brembo S.p.A, Brake Parts Inc., Tenneco Inc., ITT Inc., Nisshinbo Brake Inc., Continental AG, Robert Bosch GmbH, Akebono Brake Industry Co Ltd, ZF Friedrichshafen AG, Delphi Technologies (BorgWarner Inc. ), EBC Brakes
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Automotive Brake Pads market based on the below-mentioned segments:
Global Automotive Brake Pads Market, By Vehicle Type
Two Wheelers
Passenger Cars
Light Commercial Vehicles
Heavy Commercial Vehicles
Global Automotive Brake Pads market, By Material
Low Metallic NAO
Ceramic
Semi Metallic
Non Asbestos Organic
Global Automotive Brake Pads Market, By Position/b>
Front
Front and Rear
Global Automotive Brake Pads market, Regional Analysis
The brake pads on a car are what create the friction that brings the car to a halt. They are a crucial component of the disk brakes on a car. These brake pads press on the rotating disc when the brakes are applied, slowing or stopping the vehicle. The kinetic energy of the vehicle is transformed into thermal energy by the friction created when the brake pads are pressed against the rotors by the braking caliper.
Brake pad producers are working hard to keep up with the latest technological developments in an effort to make driving easier and safer for consumers. Manufacturers have expanded the functionality of brake pads by creating ABS systems and other anti-collision devices. Anti-lock braking systems (ABS) and regenerative braking systems (RBS) have recently cornered the market for brake pads in the United States and Europe. The global market for regenerative braking pads for electric vehicles was estimated to be worth $3.5 billion in 2020. Regenerative braking and the introduction of a brake-by-wire system are two examples of technological advancements that provide promise for the vehicle brake pad industry in emerging economies.
When the brake pad is placed against the brake disc, friction is created between the caliper and disc, allowing the vehicle to come to a stop. Lack of brake pads increases stopping distance and prevents proper heat dissipation from friction, which can cause the entire braking system to overheat and fail. Therefore, brake pads are an important part of the disc braking system in vehicles. As a result, numerous businesses see potential in producing brake pads. Brake pads that last the lifespan of a vehicle are becoming more and more of a necessity for automakers.
Anti-lock braking systems (ABS) and autonomous braking systems (ABS) are now standard features on nearly all new cars thanks to increased consumer and government focus on safety. The global market for automobile brake pads benefits greatly from these technological advancements. There has been a recent influx of new companies into the brake pad market, all of which plan to introduce high-performance, high-quality friction materials made possible by cutting-edge research and production techniques. The industry is dedicated to improving the quality and longevity of high temperature brake pads. Long-term supply agreements between brake pad manufacturers and automakers help manufacturers maintain a steady supply and solidify their position in the market.
Manufacturers have increased their selection of brake pads to accommodate the needs of automotive professionals, satisfy the requirements of regulatory constraints, and deliver brake pads with the highest possible stopping effectiveness, control, and longevity. In October 2022, for example, FDP Virginia announced the addition of 63 new product numbers to its line of premium brake pads produced at its Tappahannock, Virginia headquarters. When it comes to copper and other components used in brake pads, these pads either fulfill or surpass EPA guidelines, which require less than 5% by weight by 2021 and 0.5% by 2025. Brake pads in modern vehicles are designed to provide optimal comfort, longevity, and performance for drivers. Brake pads are wearing out faster because of global traffic congestion. When these original equipment manufacturer (OEM) pads wear out, car dealers, independent repair shops, and quick assemblers swap them out for aftermarket (AM) pads. This boosts demand in the brake pad aftermarket, which in turn drives the automobile brake pad industry.
According to the UK's Department of Transport Statistics, faulty brakes are a common cause of accidents. There is a growing need for high-end vehicle brake components due to causes including technological advancements, worries about driver safety, and the general lack of road safety enforcement, especially in developing nations. The demand for cutting-edge electronic brake systems will increase as consumers learn more about the safety features and standards mandated by the new vehicle Assessment Programme.
The National Highway Traffic Safety Administration of the United States Department of Transportation has advocated for the production of automated emergency braking systems (AEB). Injuries from traffic accidents can be minimized or eliminated altogether with the help of low-speed AEBs. Anti-lock braking systems will be required on all new motorcycles in India as of April 1, 2018, per a proposal from the Ministry of Road Transport and Highways. Manufacturers of brake pads will respond to these demanding standards by creating ever safer products. New passenger vehicles from Ford, Honda, Kia, and Nissan will all come standard with AEB by 2020.
Report Coverage
Global Automotive Brake Pads research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Automotive Brake Pads report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Automotive Brake Pads competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Automotive Brake Pads market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | ADVICS Co., Ltd., Brembo S.p.A, Brake Parts Inc., Tenneco Inc., ITT Inc., Nisshinbo Brake Inc., Continental AG, Robert Bosch GmbH, Akebono Brake Industry Co Ltd, ZF Friedrichshafen AG, Delphi Technologies (BorgWarner Inc. ), EBC Brakes |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Automotive Brake Pads Market from 2021 to 2030.
- Market Forecast for Automotive Brake Pads Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Automotive Brake Pads competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Automotive Brake Pads
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Automotive Brake Pads market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Automotive Brake Pads market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
ADVICS Co., Ltd., Brembo S.p.A, Brake Parts Inc., Tenneco Inc., ITT Inc., Nisshinbo Brake Inc., Continental AG, Robert Bosch GmbH, Akebono Brake Industry Co Ltd, ZF Friedrichshafen AG, Delphi Technologies (BorgWarner Inc. ), EBC Brakes
Primary Target Market
- Market Players of Automotive Brake Pads
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Automotive Brake Pads market based on the below-mentioned segments:
Global Automotive Brake Pads Market, By Vehicle Type
Two Wheelers
Passenger Cars
Light Commercial Vehicles
Heavy Commercial Vehicles
Global Automotive Brake Pads market, By Material
Low Metallic NAO
Ceramic
Semi Metallic
Non Asbestos Organic
Global Automotive Brake Pads Market, By Position/b>
Front
Front and Rear
Global Automotive Brake Pads market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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