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Evolving Market Trends In The Automotive Brake Pads Industry: Automotive Brake Pads Market Embraces Product Innovation With Zap Brake Pads
Automotive Brake Pads Market Share
What Is the Expected Automotive Brake Pads Market Size During the Forecast Period?
In recent times, the size of the automotive brake pads market has robustly increased. The market, which stood at $8.6 billion in 2024, is projected to reach $9.13 billion in 2025, indicating a compound annual growth rate (CAGR) of 6.1%. The upsurge during the historical period can be credited to factors such as growth in vehicle sales, focus on vehicle safety, educated and aware consumers, stringent safety regulations, and considerations of wear and tear.
The size of the automotive brake pads market is set to register robust growth in the forthcoming years, reaching a value of $12.11 billion in 2029 with a compound annual growth rate (CAGR) of 7.3%. This potential growth within the forecast period could be due to the increasing global vehicle fleet, changing automotive design patterns, continual focus on vehicular safety, emergence of electric and hybrid vehicles, and trends in maintenance and the aftermarket. The forecast period will likely see trends such as the creation of low-dust brake pads, the application of advanced composite materials, incorporation of sensors for wear detection, attention on noise reduction technologies, and a surge in demand for ceramic brake pads.
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What Are the High-Growth Segments in the Automotive Brake Pads Market?
The automotive brake pads market covered in this report is segmented -
1) By Material Type: Semi-Metallic, Non-Asbestos Organic (NAO), Low-Metallic, Ceramic
2) By Position Type: Front, Front And Rear
3) By Vehicle: Two Wheelers, Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles
4) By Sales: Original Equipment Manufacturer, After market
Subsegments:
1) By Semi-Metallic: Copper-Based, Steel Fiber-Based, Iron-Based
2) By Non-Asbestos Organic (NAO): Rubber-Based, Fiber-Based
3) By Low-Metallic: Low-Metallic NAO, Semi-Metallic With Reduced Metal Content
4) By Ceramic: Premium Ceramic, Standard Ceramic
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What Key Drivers Are Expected to Influence Future Automotive Brake Pads Market Growth?
The growth of the automotive brake pads market is expected to be driven by the increasing demand for electric vehicles (EVs). An electric vehicle uses an electric motor for power, with the electricity being derived from a battery that can be charged via an external source. Automotive brake pads are essential in providing a safer and more efficient regenerative braking system for electric vehicles, which slows the vehicle's speed and helps to prevent accidents. Sustainable Bus, an Italy-based media company specialising in clean buses and sustainability, reported a 53% increase in European electric bus registrations in 2023, compared to the previous year. Consequently, the growing demand for EVs is steering the expansion of the automotive brake pads market.
Which Companies Hold the Largest Share Across Different Automotive Brake Pads Market Segments?
Major companies operating in the automotive brake pads market include ACDelco LLC, Akebono Brake Industry Co. Ltd., Allied Nippon Limited, Brakes India Private Limited, Brakewel Automotive Components India Private Limited, G.U.D Holdings (Pty) Ltd., Hindustan Composites Limited, Makino Auto Industries Private Limited, MAT Holdings Inc., Nisshinbo Holdings Inc., Ranbro Brakes India Limited, Rane Brake Lining Limited, STEINHOF Sp. z o.o., Sundaram Brake Linings Limited, Tenneco Inc., ZF Friedrichshafen AG, Robert Bosch GmbH, Continental AG, Brembo S.p.A., BorgWarner Inc., ITT Inc., Delphi Technologies Inc., Freeman Automotive UK Ltd., ADVICS Co. Ltd., Japan Brake Industrial Co. Ltd., Hebei Huahua Friction Material CO. Ltd., Federal-Mogul LLC, ABS Friction Inc., Fras-le S.A., HAWK Corporation, Honeywell International Inc., Hunan BoYun Automobile Brake Materials Co. Ltd., ICER Brakes S.A., Meritor Inc., MK Kashiyama Corp., SAL-FER S.p.A., Sangsin Brake Co. Ltd., Shandong Gold Phoenix Co. Ltd., Shandong xinyi Double Link Brake Material Co. Ltd., Showa Denko Materials Co. Ltd., Sumitomo Riko Company Limited, ZF TRW Automotive Holdings Corp.
What Trends Are Driving Growth in The Automotive Brake Pads Market?
The advent of product innovation is a central trend making waves in the automotive brake pads market. The primary firms in the automotive brake pads space are centered on creating novel solutions to reinforce their standing in the market. To illustrate, Brakes India Pvt Ltd., a company located in India, unveiled ZAP brake pads in March 2023, leveraging advanced friction technology for use in electric vehicles. These brakes serve as powerful halting mechanisms and are designed specifically for battery-powered cars in compliance with environmental safety and sustainability criteria.
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What Are the Emerging Geographies for The Automotive Brake Pads Market Growth?
North America was the largest region in the automotive brake pads market in 2024. Asia-Pacific is expected to be the fastest-growing region in the automotive brake pads market during the forecast period. The regions covered in the automotive brake pads market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Automotive Brake Pads Market?
2. What is the CAGR expected in the Automotive Brake Pads Market?
3. What Are the Key Innovations Transforming the Automotive Brake Pads Industry?
4. Which Region Is Leading the Automotive Brake Pads Market?
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