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%.
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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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:
By Vehicle:
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Geographic Segment Covered in the Report
· North America (U.S., Canada, Mexico)
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
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Sep 27, 2023