The global Brake Pad market gathered revenue around USD 4.82 Billion by the end of 2027 and is estimated to expand at a modest CAGR of 4.9% during the prediction period 2021 to 2027.
Growth Factors:
According to the statistics of World Bank Group, GDP of the global population, measured in terms of purchasing power parity, has tripled in last few decades. This increase in purchasing power of the global population has led to a rise in sales of vehicles across the globe. The increase in sales of vehicles has boosted the demand for automotive spare parts, thus driving the global brake pad market. The increase in awareness about vehicle safety has led to the disc brakes becoming a standard feature in vehicles across most countries. Numerous automakers are mounting disc brakes on all wheels of their vehicle models. This has increased the number of brake pads required per vehicle, thus boosting the brake pad market across the globe.
This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Brake Pad market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Brake Pad market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.
Report Coverage
Report Scope | Details |
Market Size | USD 4.82 Billion by 2027 |
Growth Rate | CAGR of 4.9% From 2021 to 2027 |
Base Year | 2020 |
Forecast Period | 2021 to 2027 |
Historic Data | 2017 to 2020 |
Report coverage | Growth Factors, Revenue Status, Competitive Landscape, and Future Trends |
Segments Covered | Brake Pad Material, Sales Channel, Vehicle Type And Region |
Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
Companies Mentioned | AISIN SEIKI Co., Ltd., ACDelco, Akebono Brake Corporation, ASIMCO, ASK Automotive Pvt. Ltd., Brake Parts Inc. LLC, Brembo S.p.A., EBC Brakes, Japan Brake Industrial Co., Ltd., MACAS AUTOMOTIVE, Masu Brake, Nisshinbo Brake Inc., Robert Bosch GmbH, Super Circle Auto Limited, Tenneco, TMD FRICTION HOLDINGS GMBH, Toughla Brakelinings, ZF Friedrichshafen AG, AVS BRAKE LININGS Private Limited |
COVID-19 Impact Assessment on Market Landscape
The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.
Brake Pad market Report empowers readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.
Expansion of Brake Pad Market
Government authorities of various countries have prohibited the use of certain hazardous raw materials in brake pads, and have made it obligatory to control the brake dust generated. Consequently, manufacturers of brake pads have developed new products made from novel materials that lower the environmental impact. For instance, in 2018, AKEBONO BRAKE INDUSTRY CO., LTD. launched a new friction material consisting of phenol resin with wood powder, which has reduced noise and vibration, and the material has less impact on the environment as compared to that of other products such as asbestos. These new raw materials provide significant opportunity for the global brake pad market.
Technological advancements in braking systems have fueled the demand for brake pads. The ABS technology increases the wear of brake pads, the wear sensors timely alert the driver of worn-out pads and numerous other such technologies increase the frequency of brake pad replacement, thus boosting the global brake pad market. Based on brake pad material, organic brake pads are gaining high popularity across the globe, owing to the lower cost of these brake pads, lower environmental concerns, and high heat transfer capabilities. These advantages make organic materials highly suitable for general-purpose applications.
Segmentation of Brake Pad Market analysis:
The global brake pad market has been segmented based on brake pad material, sales channel, vehicle type, and region
Based on brake pad material, the organic segment is anticipated to gain high market share. Brake pad manufacturers have developed non-asbestos organic brake pads that contain high amount of reinforcement fibers as compared to that in fully organic brake pads, which increases the strength of brake pads. These developments in organic brake pad materials are expected to propel its share in global brake pad market.
Based on vehicle type, the passenger vehicle segment held a significant share of the global brake pad market. Disc brakes are becoming a standard feature in most passenger vehicles available around the globe and the number of brake pads required per vehicle is increasing, thus contributing toward the higher share of the passenger vehicle segment of the brake pad market.
Competitive Rivalry
Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
Some of the prominent players in the Brake Pad Market include: AISIN SEIKI Co., Ltd., ACDelco, Akebono Brake Corporation, ASIMCO, ASK Automotive Pvt. Ltd., Brake Parts Inc. LLC, Brembo S.p.A., EBC Brakes, Japan Brake Industrial Co., Ltd., MACAS AUTOMOTIVE, Masu Brake, Nisshinbo Brake Inc., Robert Bosch GmbH, Super Circle Auto Limited, Tenneco, TMD FRICTION HOLDINGS GMBH, Toughla Brakelinings, ZF Friedrichshafen AG, AVS BRAKE LININGS Private Limited
Unravelling the Critical Segments
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:
Market: Segmentation
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)
Highlights of the Report:
Research Methodology
In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Brake Pad market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.
Secondary resources referred to by analysts during the production of the Brake Pad market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Brake Pad markets more accurate and reliable.
Secondary Research
It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.
The secondary research sources referred in the process are as follows:
Primary Research
Primary research includes face-to face interviews, online surveys, and telephonic interviews.
Industry participants involved in this research study include:
Key Points Covered in Brake Pad market Study:
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Brake Pad Market, By Brake Pad Material
7.1. Brake Pad Market, by Brake Pad Material, 2021-2027
7.1.1. Metallic
7.1.1.1. Market Revenue and Forecast (2016-2027)
7.1.2. Ceramic
7.1.2.1. Market Revenue and Forecast (2016-2027)
7.1.3. Organic
7.1.3.1. Market Revenue and Forecast (2016-2027)
Chapter 8. Global Brake Pad Market, By Sales Channel
8.1. Brake Pad Market, by Sales Channel, 2021-2027
8.1.1. OEM
8.1.1.1. Market Revenue and Forecast (2016-2027)
8.1.2. Aftermarket
8.1.2.1. Market Revenue and Forecast (2016-2027)
Chapter 9. Global Brake Pad Market, By Vehicle Type
9.1. Brake Pad Market, by Vehicle Type, 2021-2027
9.1.1. Two Wheeler Vehicle
9.1.1.1. Market Revenue and Forecast (2016-2027)
9.1.2. Passenger Vehicle
9.1.2.1. Market Revenue and Forecast (2016-2027)
9.1.3. Commercial Vehicle
9.1.3.1. Market Revenue and Forecast (2016-2027)
9.1.4. Off-road Vehicle
9.1.4.1. Market Revenue and Forecast (2016-2027)
Chapter 10.Global Brake Pad Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Forecast, by Brake Pad Material (2016-2027)
10.1.2. Market Revenue and Forecast, by Sales Channel (2016-2027)
10.1.3. Market Revenue and Forecast, by Vehicle Type (2016-2027)
10.1.4. U.S.
10.1.4.1. Market Revenue and Forecast, by Brake Pad Material (2016-2027)
10.1.4.2. Market Revenue and Forecast, by Sales Channel (2016-2027)
10.1.4.3. Market Revenue and Forecast, by Vehicle Type (2016-2027)
10.1.5. Rest of North America
10.1.5.1. Market Revenue and Forecast, by Brake Pad Material (2016-2027)
10.1.5.2. Market Revenue and Forecast, by Sales Channel (2016-2027)
10.1.5.3. Market Revenue and Forecast, by Vehicle Type (2016-2027)
10.2. Europe
10.2.1. Market Revenue and Forecast, by Brake Pad Material (2016-2027)
10.2.2. Market Revenue and Forecast, by Sales Channel (2016-2027)
10.2.3. Market Revenue and Forecast, by Vehicle Type (2016-2027)
10.2.4. UK
10.2.4.1. Market Revenue and Forecast, by Brake Pad Material (2016-2027)
10.2.4.2. Market Revenue and Forecast, by Sales Channel (2016-2027)
10.2.4.3. Market Revenue and Forecast, by Vehicle Type (2016-2027)
10.2.5. Germany
10.2.5.1. Market Revenue and Forecast, by Brake Pad Material (2016-2027)
10.2.5.2. Market Revenue and Forecast, by Sales Channel (2016-2027)
10.2.5.3. Market Revenue and Forecast, by Vehicle Type (2016-2027)
10.2.6. France
10.2.6.1. Market Revenue and Forecast, by Brake Pad Material (2016-2027)
10.2.6.2. Market Revenue and Forecast, by Sales Channel (2016-2027)
10.2.6.3. Market Revenue and Forecast, by Vehicle Type (2016-2027)
10.2.7. Rest of Europe
10.2.7.1. Market Revenue and Forecast, by Brake Pad Material (2016-2027)
10.2.7.2. Market Revenue and Forecast, by Sales Channel (2016-2027)
10.2.7.3. Market Revenue and Forecast, by Vehicle Type (2016-2027)
10.3. APAC
10.3.1. Market Revenue and Forecast, by Brake Pad Material (2016-2027)
10.3.2. Market Revenue and Forecast, by Sales Channel (2016-2027)
10.3.3. Market Revenue and Forecast, by Vehicle Type (2016-2027)
10.3.4. India
10.3.4.1. Market Revenue and Forecast, by Brake Pad Material (2016-2027)
10.3.4.2. Market Revenue and Forecast, by Sales Channel (2016-2027)
10.3.4.3. Market Revenue and Forecast, by Vehicle Type (2016-2027)
10.3.5. China
10.3.5.1. Market Revenue and Forecast, by Brake Pad Material (2016-2027)
10.3.5.2. Market Revenue and Forecast, by Sales Channel (2016-2027)
10.3.5.3. Market Revenue and Forecast, by Vehicle Type (2016-2027)
10.3.6. Japan
10.3.6.1. Market Revenue and Forecast, by Brake Pad Material (2016-2027)
10.3.6.2. Market Revenue and Forecast, by Sales Channel (2016-2027)
10.3.6.3. Market Revenue and Forecast, by Vehicle Type (2016-2027)
10.3.7. Rest of APAC
10.3.7.1. Market Revenue and Forecast, by Brake Pad Material (2016-2027)
10.3.7.2. Market Revenue and Forecast, by Sales Channel (2016-2027)
10.3.7.3. Market Revenue and Forecast, by Vehicle Type (2016-2027)
10.4. MEA
10.4.1. Market Revenue and Forecast, by Brake Pad Material (2016-2027)
10.4.2. Market Revenue and Forecast, by Sales Channel (2016-2027)
10.4.3. Market Revenue and Forecast, by Vehicle Type (2016-2027)
10.4.4. GCC
10.4.4.1. Market Revenue and Forecast, by Brake Pad Material (2016-2027)
10.4.4.2. Market Revenue and Forecast, by Sales Channel (2016-2027)
10.4.4.3. Market Revenue and Forecast, by Vehicle Type (2016-2027)
10.4.5. North Africa
10.4.5.1. Market Revenue and Forecast, by Brake Pad Material (2016-2027)
10.4.5.2. Market Revenue and Forecast, by Sales Channel (2016-2027)
10.4.5.3. Market Revenue and Forecast, by Vehicle Type (2016-2027)
10.4.6. South Africa
10.4.6.1. Market Revenue and Forecast, by Brake Pad Material (2016-2027)
10.4.6.2. Market Revenue and Forecast, by Sales Channel (2016-2027)
10.4.6.3. Market Revenue and Forecast, by Vehicle Type (2016-2027)
10.4.7. Rest of MEA
10.4.7.1. Market Revenue and Forecast, by Brake Pad Material (2016-2027)
10.4.7.2. Market Revenue and Forecast, by Sales Channel (2016-2027)
10.4.7.3. Market Revenue and Forecast, by Vehicle Type (2016-2027)
10.5. Latin America
10.5.1. Market Revenue and Forecast, by Brake Pad Material (2016-2027)
10.5.2. Market Revenue and Forecast, by Sales Channel (2016-2027)
10.5.3. Market Revenue and Forecast, by Vehicle Type (2016-2027)
10.5.4. Brazil
10.5.4.1. Market Revenue and Forecast, by Brake Pad Material (2016-2027)
10.5.4.2. Market Revenue and Forecast, by Sales Channel (2016-2027)
10.5.4.3. Market Revenue and Forecast, by Vehicle Type (2016-2027)
10.5.5. Rest of LATAM
10.5.5.1. Market Revenue and Forecast, by Brake Pad Material (2016-2027)
10.5.5.2. Market Revenue and Forecast, by Sales Channel (2016-2027)
10.5.5.3. Market Revenue and Forecast, by Vehicle Type (2016-2027)
Chapter 11. Company Profiles
11.1. AISIN SEIKI Co., Ltd
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. ACDelco
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. Akebono Brake Corporation,
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. ASIMCO
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. Recent Initiatives
11.5. ASK Automotive Pvt. Ltd.
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. Brake Parts Inc. LLC
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. Brembo S.p.A.
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. EBC Brakes
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. Japan Brake Industrial Co., Ltd
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
11.10. MACAS AUTOMOTIVE
11.10.1. Company Overview
11.10.2. Product Offerings
11.10.3. Financial Performance
11.10.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us
13.2. Glossary of Terms