About Automobile Brake Pad
Brake pads are important in the brake system. It is a pad that rubs against the rotating rotor to provide the braking force to sopping the vehicle. It is one of the important components in the automobile sector. It is available in different materials. Another reason behind its high growth is that it is made up of various compounds of materials that are used and it has a short life cycle because it must be replaced over a certain period of time.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
CAGR | 3.1% |
The global automobile brake pad market is highly competitive and consists of some key players. In terms of market share, few of the key players presently dominate the global market. These market players are leveraging on strategic collaborative creativities to intensification their market share and escalation their profitability. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Automobile Brake Pad market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Federal Mogul (United States), Robert Bosch (Germany), TRW (United States), Nisshinbo Holdings Inc. (Japan), MAT Holdings (United States), ITT Corporation (United States), Honeywell (United States), Acdelco (United States), Akebono (Japan) and Delphi Automotive (Ireland) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are BREMBO (Italy), Sangsin Brake (South Korea) and ADVICS (Japan).
Segmentation Overview
AMA Research has segmented the market of Global Automobile Brake Pad market by , Application (Low Commercial Vehicles, Heavy Commercial Vehicles, Two-Wheelers and Others) and Region.
On the basis of geography, the market of Automobile Brake Pad has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Sales Channels, the sub-segment i.e. OEM will boost the Automobile Brake Pad market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Position, the sub-segment i.e. Front will boost the Automobile Brake Pad market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Materials, the sub-segment i.e. Asbestos will boost the Automobile Brake Pad market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
High Adoption in Early Disk Brake Applications and Growing Installation of Disc Brakes among Automobiles for Enhancing Braking Efficiency
Market Growth Drivers:
Rising Government Initiatives for Stopping Distance Will Induce Significant Growth Potential in the Automotive Brake Pads
Challenges:
Rising Raw Material Cost Will Hinder the Automotive Brake Pads Market and Limited Operating Temperature Range
Restraints:
Stringent Government Regulations for Pad Manufacturing and Raw Material
Opportunities:
Technological up-gradation for the development of lightweight and environment-friendly braking system. These step is creating huge growth potential in the market. The rising demand for low cost of ownership is creating demand in the automobile sector.
Market Leaders and their expansionary development strategies
On 13 October 2020, MAT Industries, LLC, a subsidiary of MAT Holdings, Inc., announced that it has acquired certain assets of Campbell Hausfeld, a manufacturer of consumer, industrial and commercial grade air compressors and associated pneumatic air tools and accessories.
In August 2020, Nisshinbo introduced a new friction material and Nisshinbo engineers developed an improved friction formula. Strong Ceramic (SC) was specially developed for light commercial vehicles and large SUVs. These vehicles are primarily used in business environments where heavier loads and higher mileage are the norm.
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Automobile Brake Pad Manufacturers, Suppliers and Distributors, Raw Material Suppliers, Government Regulatory and Research Organizations and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.