Automotive Brake Pad System Market Overview by Top Players Segments Demand and Forecast till 2028

The global "Automotive Brake Pad Market" is expected to grow from US$ 2,580.57 million in 2021 to US$ 3,342.58 million by 2028. It is estimated to grow at a CAGR of 3.8% from 2020 to 2028.

The rising demand for passenger cars and stricter vehicle safety norms is driving the automotive brake pad market significantly. Manufacturers are improving brake pads and disc systems due to the enforcement of stringent policies by various governments worldwide. They are improving the braking system to reduce stopping distance and incorporating various sensors for pedestrian impact prevention, such as visible light and infrared. Guidelines, such as panic stop braking with a shorter stopping distance, have been announced, affecting the brake pad business in general.

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Companies Profiled in this report includes:

• ACDelco
• AKEBONO BRAKE INDUSTRY CO., LTD.
• Brake Parts Inc. LLC.
• Brembo S.p.A.
• Hebei Huahua Friction Material CO., Ltd.
• Nisshinbo Holdings Inc.
• Robert Bosch GmbH
• SANGSIN BRAKE
• Util Industries S.p.A
• ZF Friedrichshafen AG

As a result, brake pad producers are focusing on disc brake evolution to fulfill the new rules on stopping distance. Consequently, the rising demand for brake pads is propelling the automotive brake pad market. The companies are primarily concerned with producing environmentally safe, dependable, and durable braking systems.

The overall automotive brake pad market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the automotive brake pad market with respect to all the segments. It also provides the overview and forecast for the market based on all the segmentation provided with respect to five major regions-North America, Europe, Asia Pacific, Middle East & Africa, and South America. Also, primary interviews were conducted with industry participants and commentators to validate data and gain more analytical insights into the topic. Participants in this process include industry experts, such as VPs, business development managers, market intelligence managers, national sales managers, and external consultants, such as valuation experts, research analysts, and key opinion leaders, specializing in the automotive brake pad market.

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Automotive Brake Pad Market Segmentation:

By Material Type:
• Metallic Brake Pad
• Semi-Metallic Brake Pad
• Asbestos Brake Pad
• Non-Asbestos Organic Brake Pad

By Vehicle Type:
• Commercial Vehicle
• Passenger Cars

As governments across the world have imposed lockdowns in first half of 2020, several automotive brake pad manufacturers' demand and supply activities experienced significant drop. Also, significant drop in the vehicle sales hampered the brake system demand, and ultimately lowered the sale of automotive brake pads. From the beginning of the 2021, the automotive brake pad market started to regain its momentum and with significant space due to increasing demand of passenger vehicles from emerging countries. With growing automotive industry the brake pad manufacturers is regaining its pace with the resumption of operations at manufacturing units, which would boost the automotive brake pad market in the coming years.

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