Automotive Brake Shims Market Set to Accelerate with a 5.6% CAGR, Aiming for US$ 604.5 Million by 2033

According to the analysis conducted by Future Market Insights, the Automotive Brake Shims Market is anticipated to experience a Compound Annual Growth Rate (CAGR) of 5.6%. This growth trajectory is foreseen to culminate in a market valuation of approximately US$ 604.5 million by the year 2033.

Shims for automotive brakes are expected to be crucial parts that are carefully positioned between brake pads and calipers in cars. Demand might be increased by these thin, insulating materials' capacity to reduce noise, vibrations, and harshness during braking maneuvers.

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It is anticipated that brake shims will considerably improve passenger happiness and vehicle comfort. This is explained by their capability to effectively absorb noise and attenuate vibrations produced by the contact between the brake pad and caliper.

With a strong emphasis on noise reduction and enhanced brake performance, the automotive brake shims sector is being severely impacted by rising production of electric vehicles (EVs). There is an increasing need for specialized brake shims that reduce noise and vibration in EVs. This is because regenerative braking systems have taken the place of conventional friction-based ones.

In order to satisfy these demands, manufacturers are changing the way they produce their products, spurring innovation for greater durability and compatibility with regenerative systems. Brake shim replacement is required by the expanding aftermarket for electric vehicles, further accelerating the market's development.

The automotive brake shims industry is expected to change as a result of the shift toward electric automobiles. It can highlight how important they are in ensuring that EV users have a quieter and more comfortable braking experience.

Brake shims made of recycled rubber and bio-based composites might help reduce waste and the manufacturing process' negative environmental effects. This is crucial since the car sector greatly affects the environment. A sustainable future depends on actions to cut emissions and waste.

Brake shim performance can also be improved by the use of sustainable materials. In brake shims, recycled rubber is frequently used as a reinforcement material.

It might increase the shims' toughness and resistance to deterioration. On the other hand, bio-based composites can provide distinctive qualities such as high strength and stiffness. These could make such brakes operate better.

Key Takeaways from the Automotive Brake Shims Market Study:

In the historical period from 2018 to 2022, the global automotive brake shims industry recorded a CAGR of 5.2%.
The United States automotive brake shims industry is expected to reach a value of US$ 100.1 million by 2033.
China automotive brake shims industry is anticipated to incline at a CAGR of 5.9% from 2023 to 2033.
Germany automotive brake shims industry is expected to surpass a market value of US$ 26.3 million by 2033.
The rubber segment by material is expected to dominate the automotive brake shims industry with a CAGR of 5.7% from 2023 to 2033.

"The market for automobile brake shims is being propelled by growing use of regenerative braking systems globally. Regenerative braking is a technique that uses a vehicle's kinetic energy to create electricity. For subsequent usage, it can be kept in the battery. This factor is projected to create novel opportunities for leading companies." - says a lead analyst at Future Market Insights (FMI).

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Competitive Landscape

The automotive brake shims industry has a highly competitive landscape, with a significant number of players vying for high market shares. Several significant participants in this industry comprise Robert Bosch GmbH, ZF Friedrichshafen AG, Valeo S.A, Delphi Automotive PLC, Nisshinbo Holdings Inc., and Brembo S.p.A. among others.

Manufacturers might be researching and adopting new materials for brake shims to enhance their performance, durability, and noise reduction capabilities. Advancements in materials science can lead to shims that are more effective at reducing brake noise and vibration.

A handful of players are developing and incorporating advanced noise reduction technologies into brake shims. These could include features such as dampening layers, insulating coatings, and specific designs that minimize noise and vibration during braking.

They are providing a wider range of brake shim designs and sizes to fit several vehicle models and brake systems. Customized solutions can help improve performance and noise reduction for specific vehicles.

For instance,

EBC Brakes Racing introduced titanium motorsport brake pad shims in April 2022. It is appropriate for the high heat that comes with racing. For a wide range of high performance automotive uses, it was made accessible.

Find More Valuable Insights into Automotive Brake Shims Market Study

The research report analyzes the market demand trends of automotive brake shims. The global market estimation and growth projection are based on factors such as end-use industries development, COVID-19 crisis impact, replacement ratio, and adoption rate of automotive brake shims.

As per Future Market Insights (FMI) research scope, the automotive brake shims industry has been studied and segmented on the basis of material (rubber material, pressure sensitive adhesive (PSA) material, and thermoset material, others), application (two wheelers, passenger vehicle, commercial vehicle), sales channel (OEM, aftermarket), and regions. The report provides qualitative and quantitative information on various players in this market. This report also tracks the market by both, the supply side and demand side.

Automotive Brake Shims Market Outlook by Category

By Material:

Rubber Material
Pressure Sensitive Adhesive (PSA) Material
Thermoset Material
Others

By Application:

Two Wheeler
Passenger Vehicle
Commercial Vehicle

By Sales Channels:

OEM
Aftermarket

By Region:

North America
Latin America
Western Europe
Eastern Europe
East Asia
Central Asia
Russia & Belarus
Balkan & Baltics
South Asia Pacific
Middle East and Africa

About the Automotive Division at Future Market Insights

The automotive team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.

Author

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

This release was published on openPR.