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Automotive Brake Pads Market Competitive Market Share & Forecast, 2019 - 2025
Increasing vehicle sales coupled with availability of light weight and advanced friction materials will surge the automotive brake pads market demand from 2019 to 2025. The brake pads are frequently used while driving and required to perform over wide range of temperatures owing to frictions between wheel and brake pads
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Growing awareness about vehicle safety along with rising lightweight brake pads will drive automotive brake pads market growth over study timeframe. These are designed to improve brake performance in wet conditions, reduce brake squeal, and minimum possible wears.
Advancements including smart brake technology enables OEMs to optimize critical automotive safety systems such as anti-lock braking, thereby driving the automotive brake pads market penetration. The smart pads are incorporated with sensors to capture the real time temperature, vibration, torque, drag, and wear data. These real time data will enable OEMs and caliper manufacturers to shorten the brake system development cycles.
Stringent government legislation to minimize usage of raw materials including copper, heavy metals, and asbestos that are harmful to environment pressuring manufacturers to use organic raw materials. For instance, in January 2017, California updated their brake pad regulations to phase out of brake pads that include over 5% copper by weight by January 2021. The usage of organic materials reduces consumption of copper, mercury, lead, and cadmium that are harmful to environment and support the automotive brake pads market growth.
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Asia Pacific Automotive Brake Pads Market will hold considerable volume share in the projected timeframe owing to presence of key manufacturers. Countries including China and India account for major vehicle sales and influence the industry growth. For instance, according to OICA, the motor vehicle sales increased from over 28.02 million units in 2016 to 29.12 million units in 2017. The rising vehicle sales owing to increasing disposable income of emerging economies including Thailand and Indonesia will further enhance product penetration
The requirement of high standards, tests & procedures associated with brake pads including ISO 6312:2010, and ISO 6313:1980 will ensure vehicle safety and boost consumer confidence towards usage of the product. Regulatory authorities enact standards designed to measure strength of brake lining materials followed by product performance and stability with varying temperature and resistance to heat. Additionally, SAE standards including J2654_201204 are used as quality control checks to measure brake lining friction and hardness levels. All these regulations will ensure quality and thereby support automotive brake pads market growth over forecast timeframe.
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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