Press release
Competitive Landscape: Key Market Leaders and New Entrants in the Automotive Brake Pads Industry
Automotive Brake Pads Market
Forecasted Market Size and Growth of the Automotive Brake Pads Market
The automotive brake pads market is projected to expand significantly, reaching a value of $12.49 billion by 2030. This represents a compound annual growth rate (CAGR) of 6.8% over the forecast period. The growth is largely influenced by factors such as the rising adoption of electric vehicles (EVs), which changes brake wear dynamics, increased demand for environmentally friendly materials, heightened performance braking requirements, expansion in commercial vehicle numbers, and stricter emission regulations. Key market trends include a shift toward low-metallic and ceramic brake pads, the need for longer-lasting brake components, growing use in EVs, and an emphasis on reducing noise and dust. Additionally, aftermarket replacements are expected to see strong demand.
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Emerging Leaders in the Automotive Brake Pads Sector
Several prominent companies are shaping the landscape of the automotive brake pads market. Among these are ACDelco LLC, Akebono Brake Industry Co. Ltd., Allied Nippon Limited, Brakes India Private Limited, and Brakewel Automotive Components India Private Limited. Other influential players include G.U.D Holdings (Pty) Ltd., Hindustan Composites Limited, Makino Auto Industries Private Limited, MAT Holdings Inc., and Nisshinbo Holdings Inc. The market also features Ranbro Brakes India Limited, Rane Brake Lining Limited, Sundaram Brake Linings Limited, Tenneco Inc., Continental AG, Brembo S.p.A., Delphi Technologies Inc., and Freeman Automotive UK Ltd. Additional key contributors are 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, 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., and ZF TRW Automotive Holdings Corp.
Expansion Through Strategic Acquisitions in the Brake Pads Market
In February 2023, Brazil-based automotive parts manufacturer Fras-Le expanded its portfolio by acquiring AML Juratek, a UK company known for its brake pads, calipers, discs, and actuators. Although the acquisition value was undisclosed, this move aims to strengthen Fras-Le's presence and product offerings in the global brake pad market, enhancing its competitiveness in the automotive components sector.
View the full automotive brake pads market report:
https://www.thebusinessresearchcompany.com/report/automotive-brake-pads-global-market-report
Innovative Product Developments Driving the Automotive Brake Pads Market
Leading players in the market are focusing on creating new product formulations that combine high performance with environmental responsibility. One notable direction is the development of copper-free brake pads, which reduce the environmental footprint of friction materials without compromising braking efficiency. For example, in October 2023, Italian automotive parts manufacturer Brembo N.V. introduced its XTRA Brake Pads, targeting car enthusiasts who demand superior stopping power. Their strategy includes a new line of aftermarket brake pads featuring low-metallic and ceramic formulations designed for enhanced performance and comfort. Distinctive color-coded shims and backing plates help differentiate their product lines and friction materials. The XTRA series also features copper-free options aligned with environmental goals, complementing Brembo's range of slotted and drilled discs aimed at high-performance vehicles.
Breakdown of Automotive Brake Pads Market Segments
The report segments the automotive brake pads market into several categories for detailed analysis:
1) Material Type: Semi-Metallic, Non-Asbestos Organic (NAO), Low-Metallic, Ceramic
2) Position Type: Front, Front and Rear
3) Vehicle Type: Two Wheelers, Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles
4) Sales Channel: Original Equipment Manufacturer (OEM), Aftermarket
Further subsegments by material type include:
- Semi-Metallic: Copper-Based, Steel Fiber-Based, Iron-Based
- Non-Asbestos Organic (NAO): Rubber-Based, Fiber-Based
- Low-Metallic: Low-Metallic NAO, Semi-Metallic with Reduced Metal Content
- Ceramic: Premium Ceramic, Standard Ceramic
This segmentation reflects the diverse product offerings and end-use applications that characterize the automotive brake pads market, providing insights into the specific needs of different vehicle types and consumer preferences.
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