Press release
2025-2034 Automotive Brake Pads Market Outlook: Key Drivers, Emerging Challenges, and Strategic Insights
Automotive Brake Pads
What Will the Automotive Brake Pads Industry Market Size Be by 2025?
The market size for automotive brake pads has significantly expanded in the recent past. From $8.6 billion in 2024, it's projected to increase to $9.13 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 6.1%. The notable growth during the previous period can be credited to an increase in vehicle sales, heightened focus on vehicle safety practices, improvement in consumer awareness and education, rigorous safety norms as well as wear and tear considerations.
What's the Long-Term Growth Forecast for the Automotive Brake Pads Market Size Through 2029?
A significant surge in the automotive brake pads market is predicted in the coming years, with a projection of the market reaching a value of $12.11 billion by 2029, growing at a compound annual growth rate (CAGR) of 7.3%. This forthcoming growth can be credited to factors such as a burgeoning global vehicle fleet, developments in automotive design, heightened emphasis on vehicle safety, the emergence of electric and hybrid vehicles, and shifting maintenance and aftermarket trends. Future trends anticipated in the period present the development of low-dust brake pads, the adoption of high-tech composite materials, incorporation of wear monitoring sensors, a focus on noise abatement technologies, and inflated demand for ceramic brake pads.
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What Are the Key Growth Drivers Fueling the Automotive Brake Pads Market Expansion?
The surging need for electric vehicles (EVs) is anticipated to drive the expansion of the automotive brake pads market in the future. An electric vehicle operates on an electric motor that draws power from a battery and it can be recharged from an external source. Automotive brake pads enhance safety and offer better regenerative braking systems for electric vehicles, slowing down the vehicle and preventing accidents. For instance, data from Sustainable Bus, an Italian media organization focusing on eco-friendly buses and sustainability, reveals that the registrations for electric buses in Europe saw an increase of 53% in 2023 compared to 2022. Hence, the escalating demand for electric vehicles is fueling the growth of the automotive brake pads market.
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What Are the Key Trends Driving Automotive Brake Pads Market Growth?
The trend of product innovation is gaining momentum in the automotive brake pads market. Major operators in this sector are concentrating on developing innovative solutions to consolidate their market presence. For example, Brakes India Pvt Ltd, a company based in India, introduced ZAP brake pads in March 2023. These feature advanced friction technology designed for electric vehicle use. These brakes function as powerful stopping mechanisms and are specifically tailored for battery-electric cars that comply with environmental safety and sustainability regulations.
How Is the Automotive Brake Pads Market Segmented?
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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Which Companies Are Leading the Charge in Automotive Brake Pads Market Innovation?
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.
Which Regions Are Leading the Global Automotive Brake Pads Market in Revenue?
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
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