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Automotive brake pads are one of the most vital components in the braking system of a vehicle. Brake pads improve the braking of a vehicle and bring it to a smoother halt. The efficiency of the brake pads entirely depends on the material used in it. Brake pads provide less wear & high coefficient of friction. The friction materials in brake pads are made up of a mixture of lubricant and abrasive elements which enhances friction property at high and low temperatures, reduces noise and porosity, and increases rigidity and strength of the brake pads. The friction material used is fragmented as reinforced fibers, additives, binders, and fillers. Rising demand for enhanced braking at high speed has fueled the demand for brake pads in the market.
Key Market Driver -
Increasing Production of Passenger Cars is Expected to Drive the Disc Brake Market Over the Forecast Period.
Key Market Restraint -
Rising adoption of electric vehicle is expected to hinder the growth of the radiator market.
Key players in the market have invested in R&D to manufacture a lightweight and eco-friendly braking system; this, in turn, is anticipated to drive the automotive brake pads market. Brake pad manufacturers are focusing on producing advanced friction materials for enhanced vehicle control. For example, in 2018 Wilwood engineering launched B-30 smart brake pads for high-performance vehicles and racing cars that provide low wear and high friction.
Some of the major companies that are present in the automotive brake pads market include ACDelco, Akebono Brake Industry Co.Ltd., Allied-Nippon Limited, ATE. Bosch Auto Parts, Brakes India Pvt.Ltd., Brakewel Automotive Components India Pvt.Ltd., G.U.D Holdings, Hindustan Composites Limited, Makino Auto Industries Pvt.Ltd, MAT Holdings, Nisshinbo Group Company, Ranbro, Brakes India Limited, Rane Brake Lining Limited, STEINHOF, Sundaram Brake Linings, Tenneco Inc, TMD, and ZF Friedrichshafen among the other players.
The global automotive brake pads are segmented into material type, position type, sales channel type, vehicle type, and geography. By material type, the global automotive brake pads market is segmented into semi-metallic, non-asbestos organic (NAO), low-metallic, and ceramic. Ceramic brake pads are anticipated to dominate the market over the forecast period owing to high stability and property to work in fluctuating temperatures. Ceramic brake pads are majorly used in high-performance vehicles as they produce less dust and minimum noise. Semi-metallic materials hold the second-largest position in the brake pads market owing to its ability to provide high shear strength and bonds. By position type, the brake pads market is segmented into front and front&rear. Font brake pads are anticipated to dominate the market over the forecast period. Front brake pads provide precise braking distance in two vehicles. By sales channel type, the brake pads market is segmented into OEM and aftermarket. The OEM segment is expected to dominate the brake pad market over the forecast period. OEMs are investing in R&D to manufacture lightweight and eco-friendly components and meet the stringent govt norms. By vehicle type, the automotive Brake Pads market is segmented into passenger cars and commercial vehicles. The passenger car segment is expected to hold the largest market share amid rising production and sales of passenger cars. The growing need for the fuel-efficient vehicle is also another factor which would help to maintain the dominance of passenger cars over the forecast period.
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Geographically, the automotive Brake Pads market is segmented into North America, Europe Asia Pacific, and the rest of the world. The Asia Pacific region leads the automotive brake pads market and is expected to continue to lead over the forecast period owing to increasing production and sales of vehicles in this region. Manufacturing companies in this region are focusing on producing advanced brake pads, which would help to reduce the size of the Brake Pads and help to improve the heat dissipation capacity. Europe is expected to be the second-largest market in the automotive brake pads market. An increase in demand for passenger cars and stringent regulations for the safety of the vehicle are the factors responsible for driving the automotive Brake Pads market.
By Material Type
By Position Type
By Sales Channel Type
By Vehicle Type
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