Global Automotive Brake Pads Market

Automotive Brake Pads Market Size, Share, Growth Analysis, By Vehicle(Passenger Car, LCV, HCV, and Two-wheelers), By Material(Semi-metallic, Non-asbestos Organic (NAO), Low-metallic NAO, Ceramic), By Region - Industry Forecast 2024-2031

Report ID: SQMIG25A2140 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 65 | Figures: 80

Automotive Brake Pads Market News

  • Continental AG is an automotive company that manufactures and sells brake systems. The German multinational automotive parts manufacturing company announced in April 2023 that it will be upscaling its brake pad production capacity in China. This decision was made in response to meet the growing demand in the Chinese market.
  • Aisin Seiki Co., Ltd. is a global supplier of automotive components. The Japanese company reported in March 2023 that it had developed a new brake pad material. This product is made from a mixture of ceramic and organic materials. It is supposedly more resistant and will require less maintenance. It also enhances braking performance and fuel efficiency.
  • Robert Bosch GmbH is a German multinational engineering and technology company that offers a wide range of products and solutions such as auto parts and accessories, eBike systems, motor vehicle technology, and more. They reported in February 2023 that they will be releasing a new ceramic brake pad soon. These products will cater to the EV industry. They are manufactured to have a longer life, better performance, and are also more sustainable.
  • Akebono Brake Industry Co., Ltd. is a Japanese manufacturer of brake components for automobiles, motorcycles, trains, and industrial machinery. The company stated in June 2023 that it had developed a new brake pad material. It was designed with the use of ceramic and organic materials and will supposedly have better noise control features.
  • Brembo SpA is an acknowledged world leader and innovator in the field of automotive disc brake technology. The Italian manufacturer of automotive braking systems announced in May 2023 that it will soon be releasing a new high-performance brake pad. These pads are made of a special mix of materials which offer exceptional durability and stopping power. This product will cater to the sports car industry.
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Automotive Brake Pads Market size was valued at USD 4.02 billion in 2022 and is poised to grow from USD 4.25 billion in 2023 to USD 6.56 billion by 2031, growing at a CAGR of 5.6% in the forecast period (2024-2031).

The automotive brake pads market is defined by its fiercely competitive market. The rivalry among market participants striving to gain a share of the market drives the market. Some renowned names in this industry are Bosch Auto Parts, Brembo S.p.A, Nisshinbo Brake Inc., and Federal-Mogul Motorparts LLC. 'Nisshinbo Holdings Inc. (Japan)', 'Federal-Mogul (USA)', 'Brembo S.p.A. (Italy)', 'TMD Friction (Germany)', 'Bosch (Germany)', 'Akebono Brake Industry Co., Ltd. (Japan)', 'ADVICS Co., Ltd. (Japan)', 'ACDelco (USA)', 'MAT Holdings, Inc. (USA)', 'HELLA Pagid GmbH (Germany)', 'Delphi Technologies (USA)', 'MK Kashiyama Corp. (Japan)', 'Knorr-Bremse AG (Germany)', 'Brake Parts Inc. (USA)', 'Sangsin Brake Co., Ltd. (South Korea)', 'Ferodo (United Kingdom)', 'ATE (Germany)', 'Raybestos (USA)', 'Fras-le S.A. (Brazil)', 'ICER Brakes (Spain)', 'Bendix (USA)', 'Tenneco Inc. (USA)', 'Winhere Auto-Part Manufacturing Co., Ltd. (China)', 'ABS Friction (Canada)', 'TRW Automotive Holdings Corp. (USA)'

Advanced braking technologies are gradually filtering into the market. This is a direct result of the growing emphasis on vehicle and driver safety which has become paramount due to strict safety standards. Market participants and clients are seeking brake pads with higher stopping power, which also control noise and dust and improve braking distances. Automakers and brake pad producers target adherence to these safety requirements to foster market growth.

Rising Adoption of Advanced Brake Pad Technologies: There is a key market trend influencing the brake pads industry. The adoption of advanced technologies that target enhancement of product safety and performance is impacting the market. Smart brake pads integrated with sensory and connectivity features have filtered into the market. These features can help real time monitoring of wear and tear and provide data to the maintenance systems. This results in enhancement of safety and a lower possibility of brake failure. High performance brake pads are also trickling in due to improvements in materials science and production methods. These pads offer longevity, better braking, and lower noise. Regulatory bodies and the general public have made vehicle safety their no.1 priority. This has led to higher adoption rates of these advanced technologies, fueling market growth.

The automotive brake pad market’s leading region is North America. Countries like Canada and the US have largely contributed to this region’s supremacy. Their higher rate of automobile ownership is key to North America’s dominance. These countries also have strict safety standards in place that support the upkeep and necessary replacement of brake pads. The region also houses a thriving after service segment in the automotive industry. This ensures market growth in North America as regional consumers seek premium and superior quality brake pads that don’t compromise performance.

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Global Automotive Brake Pads Market

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