April 11, 2024

Brake Pads Industry Worth USD 15.4 billion By 2028; Demand, Emerging Trends, Growth Opportunities and Future scope

Brake Pads Market

Global Brake Pads Market was valued at USD 9.12 Billion in 2021 and is expected to reach USD 15.4 Billion by the year 2028, at a CAGR of 4.8%.the analysis period 2023-2030

Brake pads are a component of disc brakes used in automobiles and other applications. Brake pads are made up of steel pads with a friction material bonded to the contact surface of the rotors of the brake disc. Brake pads convert the vehicle’s kinetic energy into heat through friction. The two brake pads are contained within the brake with their friction surface facing the rotor. When braking hydraulically, the caliper clamps or squeezes two spacers together on the rotating rotor to slow the vehicle down and come to a complete stop. As the brake pad heats up from contact with the rotor, it transfers a small amount of its friction material to the disc, leaving a matte gray coating on it.

Brake Pads Market: Key Players

ASIMCO,Brembo S.p.A.,ACDelco,Akebono Brake Industry Co. Ltd.,Allied-Nippon Limited,ATE. Bosch Auto Parts,Brakes India Pvt. Ltd.,Brakewel Automotive Components India Pvt. Ltd.,Rane Brake Lining Limited,G.U.D Holdings,Sundaram Brake Linings,Hindustan Composites Limited,Makino Auto Industries Pvt. Ltd,MAT Holdings,AISIN SEIKI Co. Ltd.,Nisshinbo Group Company,Ranbro,AVS BRAKE LININGS Private Limited,Brakes India Limited,Brake Parts Inc.,STEINHOF,ASK Automotive Pvt. Ltd.,Tenneco Inc,BSK Auto Industries,TMD,ZF Friedrichshafen and others major players.

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Introspective Market Research offers a comprehensive overview of the market through the analysis of key parameters such as revenue, price, competition, and promotions, as well as the study, synthesis, and summarization of data from different sources. It analyzes the leading industry drivers and shows numerous market components. The information offered is thorough, dependable, and the result of a comprehensive primary and secondary study. Introspective Market Research reports offer a comprehensive global market as well as an in-depth strategic sourcing methodology and analysis based on qualitative and quantitative research to anticipate market growth.

These companies are devising key strategies such as acquisitions, merges, collaborations, partnerships, new product launches, regional expansions, and targeting untapped markets to gain competitive advantage over other players working in the market.

Segmentation of Brake Pads market:

By Type:

  • Semi-Metallic
  • Non-Asbestos Organic
  • Low-Metallic Nao
  • Ceramic

By Vehicle:

  • Two-Wheeler Vehicle
  • Passenger Vehicle
  • Commercial Vehicle
  • Off-Road Vehicle

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 Geographic Segment Covered in the Report

  • North America (U.S., Canada, Mexico)
  • Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
  • Western Europe (Germany, U.K., France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
  • Asia-Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
  • Middle East & Africa (Turkey, Saudi Arabia, Bahrain, Kuwait, Qatar, UAE, Israel, South Africa)
  • South America (Brazil, Argentina, Rest of SA)

COVID-19 Impact on Brake Pads Market

The COVID19 crisis has had a rapid and serious impact on the global integrated automotive industry. Symptoms include a suspension of parts exports from China, a major suspension of products throughout Europe, and the closure of US assembly plants. This could put serious pressure on industries that are already coping with the slowdown in global demand and lead to increased M & A activity. After recovering from the economic downturn in the spring of 2020, new car sales have been increasing every year in China, Europe, and the United States in recent months

Reasons To Buy Global Brake Pads Market Report:

  • Current and future outlook of the Global Brake Pads Market in developed and emerging markets.
  • Analysis of various market perspectives with the help of Porter’s five forces analysis.
  • The segment that should dominate the Global Brake Pads Market.
  • Regions that are expected to see the fastest growth during the forecast period.
  • Identifies the latest developments, global Brake Pads Market shares and strategies used by major market players.

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