What is Global Brake Pads Market?
The Global Brake Pads Market is a vast and dynamic sector that encompasses a wide range of products used in vehicles to assist in slowing or stopping motion. These components, known as brake pads, are integral to the safety and performance of any vehicle, from cars and trucks to motorcycles and bicycles. The market for these essential items is global in scope, with demand driven by the ongoing need for vehicle maintenance and the continuous development of new vehicles. The market's value was estimated at US$ 11160 million in 2022, and it is projected to grow to US$ 12400 million by 2029, expanding at a compound annual growth rate (CAGR) of 1.5% during the forecast period from 2023 to 2029. The market is dominated by a handful of key players, with the top five manufacturers accounting for over 35% of the market share.
Non-asbestos Organic Brake Pads, Semi Metallic Brake Pads, Low Metallic NAO Brake Pads, Ceramic Brake Pads in the Global Brake Pads Market:
The Global Brake Pads Market is segmented into various types based on the materials used in their construction. These include Non-asbestos Organic Brake Pads, Semi Metallic Brake Pads, Low Metallic NAO Brake Pads, and Ceramic Brake Pads. Non-asbestos Organic Brake Pads are made from a mixture of fibers, fillers, and high-temperature resins, and are known for their quiet operation and low production of dust. Semi Metallic Brake Pads, on the other hand, contain between 30% and 65% metal, and are known for their durability and excellent heat conduction. Low Metallic NAO Brake Pads are a hybrid of the two, containing less metal than semi-metallic pads but more than non-asbestos organic pads. They offer a good balance between performance and cost. Finally, Ceramic Brake Pads are made from a mixture of ceramic fibers, fillers, and bonding agents. They are known for their excellent performance, low dust production, and quiet operation. In terms of product segmentation, Ceramic Brake Pads represent the largest segment, accounting for over 60% of the market.
OEM, Aftermarket in the Global Brake Pads Market:
The Global Brake Pads Market serves two main areas: Original Equipment Manufacturers (OEM) and the Aftermarket. OEMs are companies that manufacture vehicles, and they require brake pads for the production of new vehicles. The demand in this sector is driven by the ongoing production of new vehicles. The Aftermarket, on the other hand, is made up of companies that provide parts and services for vehicle maintenance and repair. This includes everything from routine maintenance to major repairs, and the demand in this sector is driven by the ongoing need for vehicle maintenance and the replacement of worn-out parts. Both of these sectors represent significant portions of the Global Brake Pads Market, and they are both essential to the overall health and growth of the market.
Global Brake Pads Market Outlook:
In summary, the Global Brake Pads Market is a robust and growing sector, with a value projected to reach US$ 12400 million by 2029. This growth is driven by the ongoing production of new vehicles and the continuous need for vehicle maintenance and repair. The market is dominated by a few key players, with the top five manufacturers holding over 35% of the market share. The largest product segment is Ceramic Brake Pads, which account for over 60% of the market. The market serves two main areas: OEMs, who require brake pads for the production of new vehicles, and the Aftermarket, which provides parts and services for vehicle maintenance and repair.
| Report Metric | Details |
| Report Name | Brake Pads Market |
| Accounted market size in 2023 | US$ 11160 million |
| Forecasted market size in 2030 | US$ 12400 million |
| CAGR | 1.5% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Federal Mogul, TRW, Nisshinbo, Akebono, MAT Holdings, Delphi Automotive, ITT, Sangsin Brake, Sumitomo, Hitachi Chemical, ATE, BREMBO, ADVICS, Acdelco, Brake Parts Inc, ICER, Fras-le, EBC Brakes, ABS Friction, Shandong Gold Phoenix, Shangdong xinyi, SAL-FER, Hunan BoYun, Double Link |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
