Automotive Brake Pads Market Study by Regional Outlook and Competitive Landscape to 2026

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Automotive Brake Pads Market Demand Analysis and
Growth Forecast from 2020 to 2026

• Automotive Brake Pads Market is estimated to
  foresee immense growth over the coming years due
  to an upsurge in automobile fleets, consistent
  rise in aftermarket product demand, and the
  steadily increasing automotive sales. Frequent
  launch of new passenger vehicle models, which are
  being launched with multiple attractive
  promotional offers by automotive dealers to boost
  sales would further compliment industry outlook.
  Considering these factors, Global Market Insights
  Inc., estimates, automotive brake pads market
  would likely surpass a momentous 14.7 billion
  valuation by 2026.
• In fact, the aforementioned strategy has proven
  to be highly effective in bringing in results and
  augmenting revenue growth. According to the
  Invest India, in FY2018-19 passenger vehicle
  sales grew by more than 2.70. Additionally,
  during April-March 2019, overall automobile
  exports witnessed a significant growth of 14.50
  and the overall commercial vehicle segment
  witnessed a growth of about 17.55 during the
  same period.

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• With respect to material, the low metallic NAO
  segment is projected to expand at a healthy
  growth rate of about 3.8 over the coming years.
  These brake pads are comprised of a heavy
  concentration of mineral abrasives in order to
  provide enhanced stopping power. The product is
  manufactured through an organic formula mix with
  a small amount of copper or steel added to the
  formulation to help support a better level of
  heat transfer and provide efficient braking.

• In terms of vehicle, the heavy commercial
  vehicles (HCV) segment held a significant revenue
  share of more than 124 million in 2019 with
  industry estimates anticipating it to register
  remunerative growth owing to the rapidly growing
  construction and logistics sector. These vehicles
  frequently work with immense loads and thus need
  an efficient braking system to improve safety. In
  addition, the ongoing expansion of private and
  public transportation industries across
  developing countries should further propel the
  segment share over the coming years. Taking March
  2019 for instance, Meyle unveiled new brake pads
  designed for heavy vehicles that decrease braking
  distance and enhance the braking performance of
  HCVs.

• Major market players in the automotive brake pads
  industry are establishing new plants across new
  locations in order to strengthen their regional
  footprints and boost revenues. Citing an
  instance, in 2019, Sangsin Technology America,
  the U.S. arm of South Korean brake manufacturer,
  reportedly announced its plan to build a 20
  million factory in McDonough, Georgia.

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• Regional Analysis

• Geographically, an upsurge in RD investments by
  market players to offer optimum quality products
  is expected to majorly propel the Latin America
  automotive brake pads market share through the
  forecast timeframe. In fact, the regional market
  share is projected to expand at a decent CAGR of
  approximately 3.2 through the analysis period.
  Furthermore, Brazil and Mexico are likely to lead
  the regional product demand owing to increasing
  sales of automotive brake pads across these
  nations. Stringent norms that focus on banning
  the use of asbestos-based products owing to
  health issues would further augmenting the
  regional market share.

• Competitive Analysis

• The competitive landscape of the global
  automotive brake pads market is inclusive of
  players such as Brakewel Automotive Components
  India, Ranbro Brakes India Limited, KFE brakes
  system, Sangsin Brakes, Hunan Boyun Automobile
  Brake Material Co Ltd, Double Link, HAWK
  Performance, Hitachi Chemical, WAGNER, Nisshinbo
  Brake Inc., and ICER BRAKES among others.

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