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Global Brake Pads Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024
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Global Brake Pads Market Is Valued At 10.34 Billion USD In 2017
Brake Pads are components of brake systems used in automotive and other applications. Brake pads are friction materials which bound to the surface that faces the brake rotor and take the brunt of the frictional force necessary to stop the car. In a disc brake system, the brake pedal activates a hydraulic line which squeezes the calipers against the rotors of the car's tires. Pads are positioned between the calipers and the rotors to absorb the energy and heat, and then provide enough grips to stop the car.
Brake pads are often described as brake linings or brake shoes and when applied to the brake rotors or drums, respectively, with a mix of hydraulic and mechanical force, supply the friction to safely bring the car to a halt. Brake pads are usually used in disc brake setups within a hydraulic brake caliper and are squeezed versus the brake disc, or rotor in order to stop the car when using the brakes.
According to this study, the global Brake Pads market is valued at 10.34 Billion USD in 2017 and is expected to reach 11.61 Billion USD by the end of 2025, growing at a CAGR of 1.42% between 2017 and 2025.
As we can see from the past few years, the brake pads industry has developed rapidly for many years and the technology is mature. The key manufacturers mainly distribute in USA, Europe and Japan regions, where the automobile industry is quite developed. And the manufacturers’ bases are located all over the world. Some key manufactures have their own brake pads brands, and manufactures brake pads products for the auto maker and the leading brake pad producers as OEM. The key OEM producer includes Federal Mogul, Bosch, ITT Corporation, TRW Automotive, Nisshinbo Group Company, and Akebono etc.
The brake pad products capacity and production has increased steadily in the past years and it will keep the tendency in the future few years. And the demand was always stable, in the future, the developing regions will have great development space in the future, such as India, Brazil etc.
In China, the brake pad industry also developed rapidly and leaded the world brake pads markets. There are over three hundred manufacturers located in the developed areas of China. Some manufacturers make brake pads products for the global leading producers as an OEM. At the same time, the leading manufacturers have built their factories in China, such as Federal Mogul, Bosch, Nisshinbo Group Company etc.
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