Global Automotive Brake Pads Market 2024

Global Automotive Brake Pads Market 2024

The global automotive brake pads market size is projected to grow by USD 4.2 billion from 2024 to 2030, registering a CAGR of 3.4 percent, according to the latest market data. The automotive brake pad market has seen significant advancements driven by increased safety awareness among consumers and regulatory bodies. These developments have led to improved security measures and a reduction in road accidents. Continued technological progress is anticipated to enhance brake systems, making them even safer and more reliable.

Key factors driving market growth include vehicle manufacturers integrating innovative brake pads to enhance braking efficiency and industry players offering a wide array of products, including environmentally friendly brake pad materials. The emphasis on premium and luxury car manufacturers to introduce new products with enhanced features, coupled with rising passenger car sales in developed nations, is expected to further fuel market expansion.

Asia-Pacific dominates the market, with Europe following closely. Asia-Pacific is projected to exhibit the highest growth rate, driven by countries like Japan and South Korea contributing significantly to revenue growth in the global anti-lock braking system segment due to stringent safety regulations. China, witnessing an uptick in serious accidents and a growing vehicle fleet, is poised to become a major contributor to market growth in the region.

This comprehensive industry report provides market estimates and forecasts, accompanied by a detailed examination of the material type, position type, distribution channel, vehicle type, and region aspects. It delivers a quantitative analysis of the market, empowering stakeholders to leverage existing market opportunities. Furthermore, the report identifies key segments for potential opportunities and strategies, drawing insights from market trends and the approaches of leading competitors.

The global automotive brake pads market has been extensively analyzed by categorizing it according to various sub-segments in order to provide accurate forecasts of industry size and assess trends within specific areas.

The global market for automotive brake pads can be segmented by material type: ceramic, low-metallic, non-asbestos organic, semi-metallic. The semi-metallic segment captured the largest share of the market in 2023, accounting for more than 53.1% of the total market.

Automotive brake pads market is further segmented by position type: front, rear. The front segment held the largest share of the global automotive brake pads market in 2023, accounting for more than 53.1% of the total market.

Based on distribution channel, the automotive brake pads market is segmented into: aftermarket, original equipment manufacturer (OEM).

On the basis of vehicle type, the automotive brake pads market also can be divided into: commercial vehicle, passenger car. Among these, the passenger car segment was accounted for the highest revenue generator in 2023, accounting for more than 69.1% of the total market.

Automotive brake pads market by region is categorized into: North America, Europe, Asia-Pacific, MEA (Middle East and Africa), Latin America. Asia-Pacific captured the largest share of the market in 2023, accounting for more than 42.6% of the total market.

The global automotive brake pads market report offers detailed information on several market vendors, including ADVICS Co., Ltd. (Aisin Corporation), Akebono Brake Company, Brembo S.p.A., Continental AG, Fras-le S.A., Fujian Guanlean Automotive Parts Industry Co., Ltd., Fujian Huari Automotive Parts Co., Ltd., Hangzhou Hangcheng Friction Material Co., Ltd., Hebei Xingyue Braking Element Co., Ltd., Hitachi Astemo, Ltd., Hubei Feilong Friction & Sealing Materials Co., Ltd., Hunan Boyun Automotive Brake Material Co., Ltd., Japan Brake Industrial Co., Ltd. (Allied Nippon Limited), Longji Group Co., Ltd., MAT Holdings, Inc., Nisshinbo Brake Inc., Phinia Inc., Resonac Holdings Corporation, Robert Bosch GmbH, Sangsin Brake Co., Ltd., Shandong Double Link Brake Material Co., Ltd., Shandong Gold Phoenix Co., Ltd., Shandong Xinyi Auto Parts Manufacturing Co., Ltd., Tenneco Inc., ZF Friedrichshafen AG, Zhongshan Safety Auto Parts Co., Ltd., among others. In this report, key players and their strategies are thoroughly analyzed to understand the competitive outlook of the market.

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Gain a reliable outlook of the global automotive brake pads market forecasts from 2024 to 2030 across scenarios.

Identify growth segments for investment.

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The market estimate for ease of analysis across scenarios in Excel format.

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Market Segments Covered in Global Automotive Brake Pads Industry Analysis:

i.) Material type

• Ceramic
• Low-metallic
• Non-asbestos organic
• Semi-metallic

ii.) Position type

• Front
• Rear

iii.) Distribution channel

• Aftermarket
• Original equipment manufacturer (OEM)

iv.) Vehicle type

• Commercial vehicle
• Passenger car

v.) Region

• North America
• Europe
• Asia-Pacific
• MEA (Middle East and Africa)
• Latin America