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Automotive Brake Pads Market Analysis, Trends, Growth, Research And Forecast 2032
Automotive Brake Pads Market
The Business Research Company's Automotive Brake Pads Global Market Report 2023 identifies the rising demand for electric vehicles (EVs) as the major driver for the automotive brake pads market's growth in the forecast period. 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.
The global automotive AC compressor market size is expected to grow from $8.54 billion in 2022 to $8.89 billion in 2023 at a compound annual growth rate (CAGR) of 4.0%. 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 AC compressor market size is expected to reach $10.26 billion in 2027 at a CAGR of 3.7%.
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Major competitors in the automotive brake pads market are 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.
A key trend in the automotive brake pads market includes product innovation. Major companies operating in automotive brake pads are focused on developing innovative solutions to strengthen their position in the market. For instance, in March 2023, Brakes India Pvt Ltd, an Indian-based company, launched ZAP brake pads, which are integrated with advanced friction technology for electric vehicle use. These brakes act as strong stopping forces and are specifically made for battery-electric cars that adhere to environmental safety and sustainability standards.
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The automotive brake pads market is segmented -
• 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.
The Business Research Company's "Global Automotive Brake Pads Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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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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