Global Brake Pad Market size was valued at US$ 11000 Mn in 2019 and expected to reach US$ XX Mn by 2026 at a CAGR of 7.3% during the forecast period.

The Global Brake Pad market report is a comprehensive analysis of the industry, market, and key players. The report has covered the market by demand and supply-side by segments. The Global Brake Pad report also provides trends by market segments, technology, and investment with a competitive landscape.

Global Brake Pad Market

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Global Brake Pad Market Overview:

Brake pads are the main components of disc brakes used in vehicles. Brake pads are made from friction material on the rotor facing surface and steel clamping used as backing plates to support the breaking pads from friction. Brake pads are connected hydraulically to the calipers of the wheels and when calipers are applied, brake pads squeeze together on the spinning rotor in order to stop the vehicle from further movement.

Increasing demand for disc brakes in populated economies across the globe and increasing automotive vehicles manufacturing are the key factors driving the brake pad market growth. Brake pads are made from an abrasive and lubricated mixture of additives, fillers and binders with smart materials including non-asbestos material, ceramic composites and others. The following development in new brake pad material is expected to channel the brake pad market growth during the forecast period.
Global Brake Pad Market Dynamics:

Demand for advanced friction materials and increasing production of passenger cars and commercial vehicles across the globe are the factors considered to drive the brake pad market growth. Furthermore, increasing research and development to create environment-friendly and less noisy braking system are the key supporting factors considered to boost the brake pad market growth dynamics during the forecast period.

Moreover, increasing accidental deaths across the globe and thereby increasing concern of key manufacturers towards product integration and up-gradation are the factors expected to create new opportunities in the brake pad market during the forecast period. Increasing production of electric cars and thereby increasing production for the electrical braking system and high transportation cost for the raw materials including lubricants and binders for brake pads are the key restraining factors expected to hamper the market growth during the forecast period.

Minimization of stop time for heavy commercial vehicles is an increasing focusing factor for the commercial vehicle manufacturers and expected to pose the challenge as well as the opportunity for emerging players in the market.
Brake Pad market segmentation:

Based on material, the market is segmented as ceramic, semi-metallic, low metallic non-asbestos organic, and non-asbestos organic. Ceramic brake pads hold the highest share in the market with approximately 5 billion USD in the year 2019. Factors attributing to the growth of the segment are the high noise cancellation capacity of ceramic brake pads and the capability to withstand high-temperature conditions.

Moreover, less dust production and increasing wear and tear complaints about organic brake pads are the supporting factors considered to drive the ceramic brakes market growth. semi-metallic brake pads are the second dominating segment in the market with approximately 28% market share owing to high molecular sequencing in the metallic materials and high capability to withstand shear stress.

On the basis of vehicle type, the market is segregated into passenger cars, commercial vehicles and two-wheelers. Passenger cars hold the largest market share of approximately 43% owing to increasing demand and simultaneous production of passenger vehicles across the globe and effective adoption of the braking system in the vehicle.

According to ACDelco, passenger cars accounted for approximately 3.8 billion USD for the brake pad market in the year 2019 owing to increasing passenger cars demand and supply of raw materials. Commercial vehicles are the dominating segment in the market with approximately 29% market share owing to increasing research and development for heavy brake pads and the increasing transportation industry across the globe.

By brake pad position, the market is bifurcated as front and front& rear. Front position brake pads are the dominating segment in the market with approximately 63% market share. Factors attributing to the growth of the segment in the brake pad market are the smooth engagement of the front brakes with the wheels and adjustability of the brake pads according to vehicle span. Front and rear is the second dominating segment in the market owing to the high capability to withstand immense pressure and temperature of the tires.

Global Brake Pad Market
Impact of the Covid pandemic on the Brake Pad market:

The covid pandemic is expected to pose a low to moderate impact on the Brake Pad market owing to the effects of the pandemic on the research and manufacturing activities across the globe. Strict government norms and increasing cost of transportation owing to supply chain distortion and lowering of manufacturing activities are the factors considered to slightly declining the market growth of brake pads. The market is expected to expand during the forecast period owing to increasing demand in the supply chain and various commercial activities pick up the speed.

According to Bosch Auto Parts, the Brake Pad market sustained heavy damage during the Covid Pandemic owing to less than ever manufacturing halt of vehicles and decreased buying power of consumers by moderate to a high rate. The company stated the loss of the Brake Pad market by approximately 20% during the pandemic. The company also mentioned an expected rise in the revenue share up to 40% during the first and second quarter post-pandemic owing to increasing production of commercial vehicles.

Global Brake Pad Market
Additive manufacturing is expected to gain prominence in the brake pad market:

Increasing no. of commercial vehicles and transportation industry and ever-growing sports cars industry holds a common problem to adopt sustainable braking pads with low maintenance and high temperature withstanding capabilities. To overcome these problems, Bugatti Veyron research and development cell has introduced new 3D printed brakes that can withstand temperature up to 1000° C and pressure up to 20 bar.

According to Bugatti, 3D printed brake pads are expected to dominate the future braking pads manufacturing processes and leading the automation to the very heights of revenue with approximately 37% market growth.
Global Brake Pad Market Regional Insights:

Asia Pacific holds the major share in the Brake Pad market with approximately 42% of the total revenue share in the Brake Pad market registering approximately 6% CAGR in the year 2019. Factors attributing to market growth in the region are the increasing demand for commercial vehicles in the transportation and manufacturing sector and the high demand for consumer comfort owing to the increasing disposable income of consumers in the region. Moreover, increasing road accidents in the region shoot up the demand for brake pads more than ever owing to stringent government norms for road safety and noise emission protocols.

North America and Europe are accordingly the fastest growing and second dominating regions in the Brake Pad market with approximately 23% market share. Factors attributing growth in the market are the increasing focus of key players on automation and increasing investments in research and development in the region for high product integration. Also, increasing sports cars manufacturing in the region is expected to boost the brake pad market growth during the forecast period. The USA holds the largest market share of approximately 49% owing to the faster pace of production in the economy post-pandemic.

Global Brake Pad Market Regional Insights

The objective of the report is to present a comprehensive analysis of the Global Brake Pad Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Global Brake Pad Market dynamics, structure by analyzing the market segments and project the Global Brake Pad Market size. Clear representation of competitive analysis of key players by Type, price, financial position, Type portfolio, growth strategies, and regional presence in the Global Brake Pad Market make the report investor’s guide
Global Brake Pad Market Scope: Inquire before buying

Global Brake Pad Market
Global BRAKE PAD Market, by Region

• North America
o US
o Canada
o Mexico
• Europe
o U.K
o France
o Germany
o Italy
o Spain
o Sweden
o CIS Countries
o Rest of Europe
• Asia Pacific
o China
o India
o Japan
o South Korea
o Australia
o ASEAN
o Rest of Asia Pacific
• Middle East and Africa
o South Africa
o GCC Countries
o Egypt
o Nigeria
o Rest of ME&A
• South America
o Brazil
o Argentina
o Rest of South America
Global Brake Pad Market Key Players

• ZF Friedrichshafen AG
• Continental Automotive
• Ford Motor Co.
• ICER Brakes SA
• Wilwood Engineering
• Robert Bosch GmbH
• Bendix
• Makeno
• MAT Holding, Inc.
• Power Stop LLC
• Ferodo
• ACDelco
• EBC Brakes
• ASIMCO
• Tenneco
• MACAS Automotive
• Brembo S.P.A.
• AVS Brake linings Pvt. Ltd.

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