Market Research Report
Automotive Brake Pads Market Size By Vehicle, By Material, By Sales Channel, By Position Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 - 2025
|Published by||Global Market Insights Inc.||Product code||862147|
|Published||Content info||300 Pages
Delivery time: 2-3 business days
|Automotive Brake Pads Market Size By Vehicle, By Material, By Sales Channel, By Position Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 - 2025|
|Published: May 9, 2019||Content info: 300 Pages||
Automotive Brake Pads Market Size By Vehicle (PCV, LCV, HCV, Two-wheelers), By Material (Semi-Metallic, Non-Asbestos Organic (NAO), Low-Metallic NAO, Ceramic), By Sales Channel (OEM, Aftermarket), By Position (Front, Front & Rear) Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Russia, Poland, Netherlands, China, India, Japan, Australia, South Korea, Thailand, Indonesia, Brazil, Mexico, Argentina, Chile, Saudi Arabia, UAE, Iran, South Africa), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 - 2025 .
Increasing vehicle sales coupled with availability of light weight and advanced friction materials will surge the automotive brake pads market demand from 2019 to 2025. The brake pads are frequently used while driving and required to perform over wide range of temperatures owing to frictions between wheel and brake pads. Additionally, it requires stable coefficient of friction and low noise characteristics that enhances the vehicle performance.
Advancements including smart brake technology enables OEMs to optimize critical automotive safety systems such as anti-lock braking, thereby driving the automotive brake pads market penetration. The smart pads are incorporated with sensors to capture the real time temperature, vibration, torque, drag, and wear data. These real time data will enable OEMs and caliper manufacturers to shorten the brake system development cycles.
Growing awareness about vehicle safety along with rising lightweight brake pads will drive automotive brake pads market growth over study timeframe. These are designed to improve brake performance in wet conditions, reduce brake squeal, and minimum possible wears. The OEMs are spending significantly to manufacture light weight products to improve vehicle performance and enhances driving experience.
Stringent government legislation to minimize usage of raw materials including copper, heavy metals, and asbestos that are harmful to environment pressuring manufacturers to use organic raw materials. For instance, in January 2017, California updated their brake pad regulations to phase out of brake pads that include over 5% copper by weight by January 2021. The usage of organic materials reduces consumption of copper, mercury, lead, and cadmium that are harmful to environment and support the automotive brake pads market growth.
The requirement of high standards, tests & procedures associated with brake pads including ISO 6312:2010, and ISO 6313:1980 will ensure vehicle safety and boost consumer confidence towards usage of the product. Regulatory authorities enact standards designed to measure strength of brake lining materials followed by product performance and stability with varying temperature and resistance to heat. Additionally, SAE standards including J2654_201204 are used as quality control checks to measure brake lining friction and hardness levels. All these regulations will ensure quality and thereby support automotive brake pads market growth over forecast timeframe.
LCV will witness considerable share over the forecast period owing to proliferating sales across the globe along with launch of new models and easy financing option available from dealers. For instance, according to International Organization of Motor Vehicle Manufacturers (OICA) in 2018 LCV sales rose by 5.9% as compared with 2017. The companies are involved in launching new product portfolios with advanced features including anti-squeal coating to reduce noise, long life warranty, and easy installations. For instance, in October 2018, Autoparts UK launched brake pads for Jaguar and Audi in both PCV and LCV variants, stimulating the automotive brake pads market.
NAO segment will showcase significant market over the projected timeline owing to low manufacturing costs and environment friendly properties. Suitability for normal vehicle driving and commuting purposes along with affordability in product replacement will enhance the segment share. The high wear and tear of these brake pads limit the product usage in HCV and high-performance vehicles. However, manufacturers are developing new organic materials that enhances the wear and tear properties, supporting the automotive brake pads market growth by 2025.
Aftermarket segment will register substantial share over the study timeframe owing to frequent requirement of brakes pads replacement and availability of cost-effective products. The OEM's are engaged in expanding their third-party distribution networks to enhance their presence in aftermarket. For instance, in March 2019, Brembo announced Newparts as their direct and official distributor for aftermarket products, supporting the automotive brake pads market demand. However, low quality and limited metal standards in aftermarket products may hamper the product penetration.
Front & rear brake segment will hold considerable revenue share owing to enhanced vehicle dynamics and braking performance. Availability of specialized brake pad compounds along with increased vehicle stability at panic situation will stimulate the segment share. In addition, brake pad manufacturers showcase multiple products for specific vehicles in aftermarket to increase their customer base. For instance, in July 2018, Wilwood disc brake introduced new front and rear brake kits with BP-20 smart pads for increasing demand from ford F-250/350 trucks, supporting the automotive brake pads market by 2025.
Asia Pacific will hold considerable volume share in the projected timeframe owing to presence of key manufacturers. Countries including China and India account for major vehicle sales and influence the industry growth. For instance, according to OICA, the motor vehicle sales increased from over 28.02 million units in 2016 to 29.12 million units in 2017. The rising vehicle sales owing to increasing disposable income of emerging economies including Thailand and Indonesia will further enhance product penetration. Additionally, Manufacturers are engaged in expansion of new brake pads production facilities for generating opportunities to increase regional revenue share. For instance, in November 2017, Fras-le opened new brake pad production plant in China with 5 million annual production capacity.
The key industry participants in automotive brake pads market includes Brembo S.p.A., ZF TRW, Akebono Brake Corporation, TMD Friction Holdings GmbH, AC Delco, and Robert Bosch GmbH. Industry players adopt key strategies including new product launches to enhance their geographical presence. For instance, in December 2016, Brembo S.p.A. launched over 350 new products in North America to enhance their regional presence in automotive aftermarket.