Press release
Stopping Power : Insights into the Automotive Brake Pad Market Forecast, 2021-2031
Asia-Pacific dominated the global automotive brake pad market in 2021. The automotive industry in the region accounts for a large number of vehicle sales worldwide and contributes to the penetration of the product in the market. Moreover, the settlement of new brake pad production companies in the region further accelerates the growth of the market. In addition, industry participants are launching eco-friendly brake pads in the region, which is expected to boost the growth of the market during the forecast period.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐๐ฌ : https://www.alliedmarketresearch.com/request-sample/7579
๐๐๐ฒ ๐๐๐ซ๐ค๐๐ญ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ :
Tenneco Inc.,
ITT Inc.,
Robert Bosch GmbH,
Continental AG,
ADVICS Co., Ltd.,
ZF Friedrichshafen AG,
Nisshinbo Brake Inc.,
Akebono Brake Industry Co Ltd,
Brake Parts Inc.,
Delphi Technologies (BorgWarner Inc. ),
EBC Brakes,
Brembo S.p.A
High vehicle demands due to increasing purchasing power is expected to boost the growth of the global automotive brake pads market. The growing Japanese economy along with the rising disposable incomes of people in Japan have increased the demand for vehicles in the country, which in turn drives the automotive brake pad market. According to the International Organization of Motor Vehicle Manufacturers (OICA), Japan accounted for the third largest production volume in 2021 with around 9.1 million new vehicles being produced, and the sales of passenger cars stand at around 6.6 million units. Thus, the rising disposable income of individuals and increasing production of vehicles are expected to support the growth of the automotive brake pad industry in Japan during the forecast period.
On the basis of end use, the global automotive brake pad market has been segmented into material, position, vehicle type, sales channel, and region. The material segment is expected to experience significant growth during the forecast period. Semi-metallic (or often referred to as just "metallic") brake pads contain between 30-70% metals, like copper, iron, steel or other composites and often a graphite lubricant and other durable filler material. Semi-metallic brake pads are designed to perform in extreme driving conditions. They are made from organic compounds but contain metal particles for extra durability. Semi-metallic provide relatively better braking performance compared to organic pads on long descents and have a long-life expectancy, which increases the demand of the semi-metallic brake pads in the market.
They are highly preferred as they offer better braking performance over a wider range of temperatures and conditions. Owing to an increase in demand for a longer-lasting friction by fleet operators globally, manufacturers aim to develop advanced metallic brake pads, which is expected to drive the growth of the segment in the market. For instance, in October 2021, PFC Brakes introduced Carbon Metallic Brake Pad with higher thermal threshold. This high threshold provides more resistance to the brake pads as compared to other semi-metallic pads during the testing of temperature range.
๐๐ซ๐จ๐๐ฎ๐ซ๐ ๐๐จ๐ฆ๐ฉ๐ฅ๐๐ญ๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐จ๐ฐ : https://www.alliedmarketresearch.com/automotive-brake-pad-market/purchase-options
Significant factors that impact growth of the automotive brake pad market comprise Increase in demand for eco-friendly and sustainable brake pads, increase in stringent rules and regulations, increase in demand for brake pads in the aftermarket, and increase in sales & production of commercial vehicles and off-highway trucks. However, rise in adoption of regenerative braking system in electric vehicles, and high development cost of brake pads are expected to hamper the market growth. Furthermore, development of smart pads, and growing use of a brake-by-wire system are expected to create new growth opportunities for the automotive brake pad market during the forecast period.
Furthermore, collaborations of local distributors with brake pad manufacturers to fulfill the market demand for automotive components including brake pads is one of the major factors that are expected to rise the growth of the market. For instance, in September 2022, Master Motor Services (Thailand) Co, Ltd. (MMS) and Robert Bosch Co, Ltd, a leader in automotive drive solutions from Germany signed an agreement. Under this agreement, Master Motor Services (Thailand) Co., Ltd or MMS accepted the official distributorship of Bosch brake discs and brake pads in Thailand. Such factors are anticipated to propel the growth of the market across the region.
๐๐๐ ๐ ๐๐๐๐๐๐๐ ๐๐ ๐๐๐ ๐๐๐๐๐ :
By material, the ceramic segment is anticipated to exhibit significant growth in the near future.
By position, the front segment is anticipated to exhibit significant growth in the near future.
By vehicle type, light commercial vehicles segment is anticipated to exhibit significant growth in the near future.
By sales channel, the OEM segment is anticipated to exhibit significant growth in the near future.
By region, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.
๐๐ง๐ช๐ฎ๐ข๐ซ๐ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ : https://www.alliedmarketresearch.com/purchase-enquiry/7579
๐๐๐๐ ๐๐จ๐ซ๐ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ :
Automotive Bearings Market :
https://www.alliedmarketresearch.com/automotive-bearings-market
Automotive Power Electronics Market :
https://www.alliedmarketresearch.com/automotive-power-electronics-market
Automotive Hypervisor Market :
https://www.alliedmarketresearch.com/automotive-hypervisor-market-A11740
Automotive Scissor Lift Market :
https://www.alliedmarketresearch.com/automotive-scissor-lift-market-A12282
Automotive Pneumatic Comfort Seat System Market :
https://www.alliedmarketresearch.com/automotive-pneumatic-comfort-seat-system-market-A14189
Automotive Cybersecurity Market :
https://www.alliedmarketresearch.com/automotive-cyber-security-market-A089
๐๐จ๐ง๐ญ๐๐๐ญ :
David Correa
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Corporation Trust Center,
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Fax: +1-800-792-5285
help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com
Allied Market Research Blog: https://blog.alliedmarketresearch.com
๐๐๐จ๐ฎ๐ญ ๐ฎ๐ฌ :
Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions. AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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