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Why Automotive Brake Pads Market is growing rapidly? ACDelco, Tenneco, Akebono Brake Corporation, Bosch USA, Steinhoff International, TVS - SUNDARAM BRAKE LININGS, Toledo Molding & Die, Inc., ZF Group

Why Automotive Brake Pads Market is growing rapidly? ACDelco,

The global automotive brake pads market has continued to register exceptional growth on account of increased number of vehicles sales and growing imports of vehicle brake components worldwide. According to reports from JATO, the global car sales, from 57 markets, totaled to about 44 million units in 2018, up by 3.6% compared to 2017 trends.

Regionally speaking, Europe is anticipated to be the net exporter of brakes and brake linings in the coming years. With the presence of renowned automotive giants like Volkswagen, BMW, Audi, Mercedes-Benz, Porsche and more, Germany would emerge as the largest importer of brakes in the EU, which is evident from the fact that imports were recorded at EUR3.1 billion in 2015 followed by France at EUR1.2 billion and the U.K. at EUR1.1 billion.

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The increasing pressure from government bodies to reduce emission and promote greener transport offers new growth prospects to brake pads manufacturers in the industry. Companies are now manufacturing eco-friendly brakes free from harmful materials like asbestos, ceramic fibers, lead or nickel. The use of greener materials will result in a significant reduction in fine particle emissions, that would promote product demand among environmentally conscious buyers.

The features of brake pads like optimum performance results, noise suppression, and enhanced safety, would promote its acceptance among renowned car brands, thereby favoring automotive brake pads market outlook.

The surging deployment of advanced braking systems and increased focus on vehicle safety are expected to propel automotive brake pads market growth over 2019-2025. Renowned for their superior braking capability, disk brakes have found increased application in today's high speed, high-performance vehicles. The product, compared to traditional drum brakes, generates less amount of heat and offers improved stopping ability, especially in wetter environments.

Primarily used in high-performance aircrafts, carbon ceramic brake pads have found prolonged application in today's commercial sports and luxury vehicles. The product, being more effective in heat dissipation, can handle extremely high temperatures while being less susceptible to corrosion from exposure to water and salt. That apart, increased consumer spending and surging sales of high-performance vehicles and brakes will also supplement carbon ceramic automotive brake pads market size.

According to reports from the India Brand Equity Foundation (IBEF), the luxury car segment in India has witnessed immense growth and depicted a CAGR of about 37% between FY07-15. Furthermore, the India luxury car market is anticipated to grow at a CAGR of 25% by 2020, with auto giants like BMW Group India and Mercedes-Benz India dominating the sector. As the demand and supply graph for such vehicles observes a consistent incline, the growth map of ceramic automotive brake pads market is bound to remain exponential.

The demand for brake pads and demand for automobiles go hand in hand. Hence, the factors which boost automotive production will also favor the expansion of automotive brake pads market share. The numerous developments in battery electric vehicles market are also projected to fuel automotive brake pads industry size over the coming years.

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The presence of stringent regulatory backdrop regarding brake pad raw materials would limit growth prospects for brake pads manufacturers. For instance, the usage of asbestos is regulated under the Clean Air Act and federal laws like the Toxic Substances Control Act. Since this material is a significant component of several auto parts including brake pads and linings, restrictions on its use are likely to hinder automotive brake pads market growth.

Growing number of vehicles and stringent government norms will drive the global automotive brake pad market. Advancements in braking technology and adoption of high-performance materials will also supplement market growth. As per estimates, automotive brake pad market size to surpass USD 10 billion milestone by 2025.

Table of Contents (ToC) of the report:

Chapter 5. Automotive Brake Pads Market, By Material
5.1. Global automotive brake pads industry share by material, 2018 & 2025
5.2. Semi Metallic
5.2.1. Global market estimates and forecasts, 2013 - 2025
5.2.2. Market estimates and forecast, by region, 2013 - 2025
5.3. Non-Asbestos Organic (NAO)
5.3.1. Global market estimates and forecasts, 2013 - 2025
5.3.2. Market estimates and forecast, by region, 2013 - 2025
5.4. Low-Metallic NAO
5.4.1. Global market estimates and forecasts, 2013 - 2025
5.4.2. Market estimates and forecast, by region, 2013 - 2025
5.5. Ceramic
5.5.1. Global market estimates and forecasts, 2013 - 2025
5.5.2. Market estimates and forecast, by region, 2013 - 2025

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