How Has The Automotive Brake Pads Market Size Evolved In Recent Years?
The automotive brake pads market has seen considerable growth due to a variety of factors.
• The market size for automotive brake pads has seen significant expansion over the past few years. It is expected to escalate from $8.6 billion in 2024 to $9.13 billion in 2025, showcasing a compound annual growth rate (CAGR) of 6.1%. The reasons for the upward trend during the historic period include an increase in vehicle sales, a focus on vehicle safety, heightened consumer awareness and education, rigorous safety regulations, and considerations about wear and tear.
What are the Market Size and Expected Growth Rates for the Automotive Brake Pads Market Size Evolve over the Forecast Period?
The Automotive Brake Pads market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of automotive brake pads is predicted to experience a substantial increase in the coming years. By 2029, it is projected to reach a worth of $12.11 billion, expanding at a compound annual growth rate (CAGR) of 7.3%.
The anticipated growth in the forecast duration can be credited to the expanding global vehicle fleet, developing automotive design practices, persistent focus on vehicle safety measures, the emergence of electric and hybrid vehicles, and evolving maintenance and aftermarket trends. The future trends consist of the advancement of low-dust brake pads, utilization of high-tech composite materials, incorporation of sensors for wear monitoring, concentration on noise reduction technologies, and a soaring demand for ceramic brake pads.
Which Key Drivers Are Propelling The Automotive Brake Pads Market's Growth?
The surging popularity of electric vehicles (EVs) is set to fuel the expansion of the automotive brake pads market in the future. An electric vehicle, which is powered by an electric motor that draws electricity from a battery and can be recharged from an external source, utilises automotive brake pads. These brake pads offer a safer and more effective regenerative braking system for electric vehicles, which decelerates the vehicle and prevents it from accidents. For example, Sustainable Bus, a media company based in Italy that focuses on sustainable and clean buses, reported a 53% rise in the registration of electric buses in Europe in 2023 compared to 2022. Hence, the escalating demand for electric vehicles is pushing the growth of the automotive brake pads market.
What Are The Key Segments Within The Global 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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How Are New Trends Impacting The Size Of The Automotive Brake Pads Market?
The leading trend emerging in the automotive brake pads market is product innovation. To solidify their market standing, prominent companies in the automotive brake pads sector are dedicated to creating innovative solutions. For example, Brakes India Pvt Ltd., a company based in India, unveiled its ZAP brake pads in March 2023. These brake pads, featuring advanced friction technology, are specifically designed for electric vehicles. They offer robust stopping power and are tailor-made for battery-electric cars, maintaining compliance with environmental safety and sustainability requirements.
Who Are the Key Players In The Automotive Brake Pads Market?
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 Are The Regional Insights Into The Automotive Brake Pads Market?
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
