According to a new market report published by Lucintel, the future of the global automotive brake pad market looks promising with opportunities in passenger car, light commercial vehicle, heavy commercial vehicle, and two-wheeler segments. The global automotive brake pad market is expected to grow with a CAGR of 8% from 2021 to 2026. The major drivers for this market are increasing import of brake components and parts, increasing vehicle production and sales, and rising presence of brake pad manufacturers.
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In this market, semi-metallic, non-asbestos organic (NAO), low-metallic, and ceramic are the materials used in the manufacturing of automotive brake pads. On the basis of comprehensive research, Lucintel forecasts that ceramic brake pads will remain the largest segment, and it is also expected to witness the highest growth over the forecast period due to high stability, property to work in fluctuating temperatures, and they are used in high-performance vehicles, as they produce less dust and minimum noise.
Within the global automotive brake pad market, the passenger car segment is expected to witness the highest growth over the forecast period due to rising production and sales of passenger cars and the growing need for fuel-efficient vehicles.
APAC is expected to remain the largest market and witness the highest growth over the forecast period due to the increasing production and sales of vehicles in this region. Additionally, the manufacturing companies are focusing on producing advanced brake pads, which will help in reducing the size of the brake pads and help to improve heat dissipation capacity.
Emerging trends, which have a direct impact on the dynamics of the industry, include usage of efficient brake pads for better friction stability, production of advanced friction materials, and manufacturing of lightweight and eco-friendly braking systems. ACDelco, Allied-Nippon Limited, Bosch Auto Parts, Brakes India Limited, Tenneco Inc., Hindustan Composites Limited, Makino Auto Industries Pvt. Ltd., Max Advanced Brakes, Ford Motor Company, and GUD Holdings Limited are among the major suppliers of the automotive brake pad market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global automotive brake pad market by material, position, vehicle type, sales channel, and region, and has compiled a comprehensive research report titled “Growth Opportunities in the Global Automotive Brake Pad Market 2021-2026: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy by providing comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global automotive brake pad market by material, position, vehicle type, sales channel, and region, as follows:
By Material [Value ($ Million) from 2015 to 2026]:
Semi Metallic
Non-Asbestos Organic (NAO)
Low-Metallic
Ceramic
By Position [Value ($ Million) from 2015 to 2026]:
By Vehicle Type [Value ($ Million) from 2015 to 2026]:
Passenger Cars
Light Commercial Vehicles
Heavy Commercial Vehicles
Two-Wheelers
By Sales Channel [Value ($ Million) from 2015 to 2026]:
By Region [Value ($ Million) from 2015 to 2026]:
North America
United States
Canada
Mexico
Europe
APAC
ROW
This more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or helpdesk@lucintel.com.
About Lucintel
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