Authored By: Sarah
11 Jul 2024

 Automotive Brake Pad Market to grow by USD 5.72 billion between 2023-2027

According to a research report “ Automotive Brake Pad Market” by Type (Organic, Metallic, Ceramic) Vehicle Type (Passenger car, Commercial vehicle, Motorcycle) Geography (APAC, Europe, North America, South America, Middle East and Africa)- Global Forecast to 2027 published by Technavio, the market size is estimated to grow by USD 5.72 billion at a CAGR of  7.29% during the forecast period. The global automotive brake pad market is witnessing a surge in product launches, leading to market consolidation through increased market share. Vendors, both domestic and international, are investing in new product development to expand their offerings and penetrate new markets. Notably, ZF Friedrichshafen AG introduced new brake pads in India during April 2023, showcasing the market's dynamic growth and product diversification. This trend is expected to attract a broad customer base and foster innovation within the industry..

Browse market data tables, figures, and in-depth TOC on “Automotive Brake Pad Market” by Type (Organic, Metallic, Ceramic) Vehicle Type (Passenger car, Commercial vehicle, Motorcycle) Geography (APAC, Europe, North America, South America, Middle East and Africa) Global Forecast to 2027.

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By Type, the Organic segment is projected to dominate the market size in 2024.

In the automotive industry, the market for brake pads experiences significant growth due to escalating passenger car sales and mandatory safety regulations. The surge in consumer disposable income and purchasing power, particularly in emerging economies, fuels this trend. For instance, India reported a 26.7% increase in passenger car sales during the fiscal year 2022-23. Compliance with safety regulations necessitates the use of brake pads, further bolstering market expansion.

By Vehicle Type, Passenger car  segment is expected to hold the largest market size for the year 2024.

In the automotive brake pad market, organic pads, also known as resin pads, are gaining significant traction. These high-performance pads are manufactured using a combination of fibers and materials, such as carbon compounds, Kevlar, fiberglass, and rubber, held together by resin. The unique composition enhances braking efficiency and heat dissipation, resulting in superior stopping power and enduring durability. Organic brake pads offer additional benefits, including reduced noise levels, minimal brake dust accumulation, and gentler treatment of brake rotors. Their versatility and desirable features make organic brake pads a popular choice for various vehicle types.

APAC is forecasted to hold the largest market size by region in 2024.

The APAC region led the global automotive brake pad market in 2021, with significant contributions from China, Japan, and India. These countries, being the largest automotive production hubs in the region, have witnessed a surge in electric vehicle (EV) sales, up 64% in Japan and 87% in China in 2022. This trend is propelling the demand for ceramic brake pads due to their superior performance in EVs. Consequently, the APAC automotive brake pad market is poised for robust growth during the forecast period.

The Automotive Brake Pad Market t growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • AISIN CORP.
  • Akebono Brake Industry Co. Ltd.
  • Allied Nippon Pvt. Ltd.
  • BorgWarner Inc.
  • Brembo Spa
  • Continental AG
  • First Brands Group
  • Freeman Automotive UK Ltd.
  • General Motors Co.
  • GUD Holdings Ltd.
  • Hindustan Composites Ltd.
  • PowerStop LLC.
  • Robert Bosch GmbH
  • SANGSIN BRAKE Co.
  • Stanley Black and Decker Inc.
  • STEINHOF GROUP LIMITED LIABILITY COMPANY
  • Tenneco Inc.
  • ZF Friedrichshafen AG
.

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Research Analysis Overview

In the automotive industry, the market for high-end braking systems, including brake pads, is experiencing significant growth. The demand for advanced braking technologies, such as brake-by-wire systems and regenerative braking in hybrid vehicles, is driving this trend. However, haphazardness in the use and maintenance of these systems can lead to potential issues, including defective brakes and brake failure. Safety is a top priority in the automotive sector, and automotive safety regulations are becoming increasingly stringent to reduce fatalities and road accidents. Anti-collision items and advanced sensors are being integrated into braking systems to improve vehicle safety. Smaller manufacturers are also entering the market, offering high-quality brake pads to meet the growing demand for reliable and efficient braking solutions. The use of advanced sensors and hybrid vehicles is also contributing to the reduction of emissions. Proactive maintenance and early detection of potential issues are essential to ensure the longevity and effectiveness of braking systems. Pedestrian safety is also a critical consideration, and manufacturers are focusing on developing braking technologies that prioritize pedestrian safety. Overall, the automotive brake pad market is expected to continue growing as the demand for advanced safety features and eco-friendly technologies increases.

Market Research Overview

The Automotive Brake Pad Market encompasses the production and supply of various types of brake pads for Passenger Vehicles and Commercial Vehicles. These include Semi-Metallic Brake Pads and Metallic Brake Pads, which differ in their composition and performance. Dust generated from brake pads is a concern from an Environmental protocols perspective. High-end vehicles often utilize advanced materials like Cellulose, Rubber Kevlar, Fiberglass, and Ceramic Fibers as binding agents and filler materials in their High-end Automotive Brake systems. Safety is paramount in automotive design, and modern passenger vehicles and two wheelers are engineered to ensure longevity and safer vehicles through the use of Anti-lock braking systems and advanced sensors. Haphazardness and Defective brakes can lead to potential issues such as Brake-by-wire system failures and accidents. Automotive manufacturers are continually innovating, with new two-wheelers and High-Capacity Vehicles (HCV) and Large Commercial Vehicles (LCV) featuring ceramic brake pads and low-metallic, non-asbestos alternatives. Proactive maintenance and early detection are crucial for addressing wear and tear and preventing Brake failure. The market also caters to smaller manufacturers producing high-quality brake pads for various types of vehicles, ensuring pedestrian safety while adhering to stringent regulations aimed at reducing fatalities and road accidents and minimizing emissions. The future of automotive safety lies in advanced sensors, copper, and traditional raw materials like thermal resistance and melting point in the context of batteries, energy, and regenerative braking systems in full-electric and hybrid vehicles.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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