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Automotive Brake Pads Market Size, Share Analysis, Industry Report And Global Forecast 2023-2032
Automotive Brake Pads Market Report
Automotive Brake Pads Market Size, Growth Rate, And Forecast:
The global automotive brake pads market size is expected to grow from $7.74 billion in 2022 to $8.26 billion in 2023 at a compound annual growth rate (CAGR) of 6.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global automotive brake pads market size is expected to reach $10.52 billion in 2027 at a CAGR of 6.2%.
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Automotive Brake Pads Market Drivers:
The rising demand for electric vehicles (EVs) is expected to propel the growth of the automotive brake pads market going forward. The electric vehicle is an automotive that is powered by an electric motor that takes electricity from a battery and can be charged from an external source. Automotive brake pads provide safer and more efficient regenerative braking mechanisms for electric vehicles that slow the vehicle down, and save the vehicle from accidents.
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Automotive Brake Pads Market Segments
•By Material Type: Semi-Metallic, Non-Asbestos Organic (NAO), Low-Metallic, Ceramic
•By Position Type: Front, Front And Rear
•By Vehicle: Two Wheelers, Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles
•By Sales: Original Equipment Manufacturer, Aftermarket
•By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the automotive brake pads market.
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Automotive Brake Pads Market Key Players:
Major competitors in the automotive brake pads market include ACDelco, Akebono Brake Industry Co. Ltd., Allied-Nippon Limited, ATE Bosch Auto Parts, Brakes India Pvt. Ltd., Brakewel Automotive Components India Pvt. Ltd., G.U.D Holdings, Hindustan Composites Limited, Makino Auto Industries Pvt. Ltd., MAT Holdings, Nisshinbo Group, Ranbro Brakes India Limited, Rane Brake Lining Limited, STEINHOF, Sundaram Brake Linings, Tenneco Inc., and ZF Friedrichshafen.
The Business Research Company's "Global Automotive Brake Pads Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Automotive Brake Pads Market Include:
1. Executive Summary
2. Automotive Brake Pads Market Characteristics
3. Automotive Brake Pads Market Trends And Strategies
4. Automotive Brake Pads Market - Macro Economic Scenario
5. Automotive Brake Pads Market Size And Growth
....
26. Africa Automotive Brake Pads Market
27. Automotive Brake Pads Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Automotive Brake Pads Market
29. Automotive Brake Pads Market Future Outlook and Potential Analysis
30. Appendix
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