Press release
Automotive Brake Pad Market Trends, Industry Share, Growth Drivers, Business Opportunities, and Demand Forecast to 2028
Automotive Brake Pad Market
The automotive brake pad market is witnessing significant growth due to the increasing demand for passenger cars and the implementation of stricter vehicle safety regulations worldwide. To comply with these regulations, brake pad manufacturers are upgrading their braking systems to reduce stopping distance and include various sensors for pedestrian impact prevention, such as visible light and infrared. This has led to the development of new guidelines, including shorter stopping distances during panic stops, which has affected the overall brake pad market.
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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, manufacturers are focusing on evolving disc brake systems to meet the new stopping distance regulations, which has contributed to the growth of the automotive brake pad market. Major players in the industry are investing heavily in research and development to produce environmentally safe, reliable, and durable braking systems to increase their market shares and ensure sustained growth. For instance, Continental North America, a subsidiary of Continental AG based in the US, invested nearly US$ 40 million in expanding its Morganton auto plant and received a US$ 1.6 million job development incentive grant from North Carolina. The additional production capacity will be used to manufacture MK C1 braking systems.
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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
The market size of the automotive brake pad industry has been determined by utilizing primary and secondary sources. The research process commenced with comprehensive secondary research using both internal and external sources to collect qualitative and quantitative data pertaining to the market. This process also enabled the study to obtain a market forecast and overview of the growth of the industry across all its segments. Furthermore, primary interviews were conducted with industry experts and commentators to authenticate the data and gain further analytical insights into the subject matter. The participants involved in this process included business development managers, VPs, market intelligence managers, national sales managers, external consultants such as valuation experts, research analysts, and key opinion leaders who specialize in the automotive brake pad market. Additionally, an overview and forecast for the market were generated based on the provided segmentation across North America, Europe, Asia Pacific, Middle East & Africa, and South America.
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