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Automotive Brake Pads Market Report
The Automotive Brake Pads Market is Segmented by Vehicle Type (PCV, LCV, HCV, and Two-wheelers), by Material Type (Semi-Metallic, Non-Asbestos Organic (NAO), Low-Metallic NAO, and Ceramic), by Sales Channel Type (OEM, Aftermarket), by Position Type...
Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
Automotive Brake Pads Market is likely to witness a CAGR of 6.5% during the forecast period. Major factors such as development of new brake pad material compounds offering high friction and imparting fade resistance to performance vehicles, increasing vehicle sales coupled with availability of lightweight and advanced friction materials, updated vehicle safety regulations, and increasing presence of automotive players are expected to fuel the growth of the market during the forecast period.
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Automotive Brake Pads Market – Snapshot |
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Growth |
6.5% for the next five years |
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Major Vehicle Type |
PCV |
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Major Material Type |
Semi-Metallic |
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Largest Sales Channel Type |
OEM |
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Leading Position Type |
Front & Rear |
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Region with the highest demand |
Asia-Pacific |
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Key Players |
Brembo S.p.A., EBC Brakes, HAWK Performance, Hunan Boyun Automobile Brake Material Co., Ltd., Icer Brakes S.A., KFE Brake Systems, Nisshinbo Brake Inc., Ranbro Brakes India Limited, Sangsin Brakes America Inc., and Wilwood Engineering Inc. |
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Based on the vehicle type, the market is segmented as PCV, LCV, HCV, and two-wheelers. PCV is expected to witness significant growth rate in the market during the forecast period owing to the frequent launch of passenger car vehicle models along with multiple offers provided by vehicle manufacturers. In addition, increasing investments by the premium and luxury car manufacturers to manufacture new products with enhanced features, and growing demand for passenger car sales in developed nations is further expected to drive the automotive brake pads market growth during the forecast period.
Based on the material type, the market is segmented as semi-metallic, non-asbestos organic, low-metallic NAO, and ceramic. Semi-metallic material type is anticipated to register high growth rate in the market owing to its capability to provide high shear and bonding strength in brake systems. Also, the presence of 30 to 60 percent of metallic materials including steel and iron provide high thermal stability to the brake systems, boosting the product demand in the market during the forecast period.
Based on the sales channel type, the market is segmented as OEM and aftermarket. OEM sales channel is estimated to account for the major share of the market during the forecast period on account of features, such as enhanced quality assurance, wear resistance, and restriction of noise and dust. Factors such as individual vehicle manufacturers incorporating innovative brake pads in their vehicles so as to improve the braking efficiency and industry players offering a wide range of products that includes environmentally friendly brake pads materials are further expected to drive the market growth during the forecast period.
Based on the position type, the market is segmented as front and front & rear. The front & rear segment is estimated to be the leading position type in the market owing to optimization of vehicle performance with specialized brake pad design for every vehicle wheel during the forecast period. Further, industry players frequently launching new products with customized braking designs for trucks and SUVs is expected to accelerate the segment’s growth during the forecast period.
In terms of regions, Asia-Pacific is estimated to be the leading region in the market owing to increasing vehicle sales coupled with increasing disposable income of consumers across emerging economies during the forecast period. China and India are the growth engines of the region contributing to the growing demand for the product during the forecast period. Factors such as establishment of new industry players in the region and increasing manufacturing of passenger cars and fleet size are further expected to fuel the market growth over the forecast period. Europe and North America are also expected to offer substantial growth opportunities during the forecast period.
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Some of the key players in the automotive brake pads market are-
Brake pads are basically the integral parts of disc braking system which are majorly utilized in automotive and other applications. These are essentially made of materials having high co-efficient of friction.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Automotive Brake Pads Market Research Report - Features |
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Market Segmentation |
5 |
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Regions Covered |
4 |
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Countries/Sub-Regions Covered |
17 |
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No. of Figures & Tables |
>150 |
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Company Profiles |
10 |
The automotive brake pads market is segmented into the following categories.
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This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Market Segmentation
Competitive Benchmarking
Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected].
The automotive brake pads market is expected to witness an impressive growth of 6.5% CAGR in the foreseeable future.
Brembo S.p.A., EBC Brakes, HAWK Performance, Hunan Boyun Automobile Brake Material Co., Ltd., Icer Brakes S.A., KFE Brake Systems, Nisshinbo Brake Inc., Ranbro Brakes India Limited, Sangsin Brakes America Inc., and Wilwood Engineering Inc are among the key players in the automotive brake pads market.
Asia-pacific is expected to be the leading automotive brake pads market during the next five years.
Semi-metallic material type is expected to register high growth rate in the automotive brake pads market in the coming years.
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