Market Research Report
MEA & Pakistan Brake Pad Market, By Vehicle Type (Passenger Car, Light Commercial Vehicle), By Country, Competition Forecast & Opportunities, 2026
|MEA & Pakistan Brake Pad Market, By Vehicle Type (Passenger Car, Light Commercial Vehicle), By Country, Competition Forecast & Opportunities, 2026|
Published: November 1, 2021
Content info: 138 Pages
Delivery time: 2-3 business days
The MEA & Pakistan brake pad market was valued at USD2,656.71 million in 2020, and is projected to reach USD3,769.52 million by 2026, growing at a significant CAGR of 5.64% during the forecast period, 2022-2026. The rise in demand for advanced and lightweight friction materials such as ceramics to improve the brake pad efficiency to work in a wide range of temperatures is expected to fuel the MEA & Pakistan brake pad market's growth. Growth in the per capita income of customers is increasing the expenditure capacity, which in turn is boosting the sales of automobiles. The increasing awareness among consumers about the harmful effects of carbon emissions on the environment is contributing to the surge in the demand for eco-friendly vehicles, thereby influencing the demand of the MEA & Pakistan brake pad market. The development of advanced technologies and their integration into vehicles is increasing the demand for automobiles. The growing penetration of internet services in the MEA & Pakistan region and the proliferation of smart devices is increasing the sales through online channels.
Availability of brake pads, automobile parts & components on e-commerce sites and applications is expected to propel the market's growth owing to enhanced consumer experience and lucrative discounts and offers. The rise in the demand for an effective brake pad system for driving through high speed is paving the way for the MEA & Pakistan brake pad market growth.
The incorporation of regulations related to the use of copper in brake pads is a leading trend witnessed in the market. Asbestos and copper are the major constituents of vehicular brakes due to their heat resistance and strength capabilities. Moreover, as these products start to break apart and disintegrate on continuous use, they become hazardous because of the non-recycling property. Thus, many countries are working on reducing the use of copper and other materials in motor vehicle brake pads. Moreover, growing private label brands and low-cost Chinese brands is another important trend witnessed in the market. In MEA & Pakistan, a higher trajectory sales growth in the private label and store brands by retailers and distributors has been witnessed over the last five years. The growth is supported by competitive pricing and product quality available in comparison to other premium flagship brands. The sale of brake pads by Chinese manufacturers is also increasing due to their economical cost.
MEA & Pakistan brake pad market is segmented into vehicle type, regional distribution, and company. Based on the country analysis, Iran is expected to account for the major MEA & Pakistan brake pad market share for the forecast period, 2022-2026. The growing demand for passenger cars in the country owing to rise in the disposable income of the consumers is driving the growth of the brake pad market. High-end investments by the market players for the research and development activities and the presence of supportive government policies to promote the automotive industry are expected to fuel the market growth.
The major players operating in the MEA & Pakistan Brake Pad market are Asimco Global Inc. TRW Ltd Aftermarket, MAT Holdings, Inc., Sangsin Brake Co., Ltd., FBK Manufacturing Malaysia Sdn Bhd, Tenneco Inc, AC Delco, Robert Bosch (Pty) Ltd, Safeline Brakes (G.U.D. Holdings), and Alfred Teves Brake Systems (Pty) Ltd., among others. Major companies are developing advanced technologies and launching new services to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new service developments.
Years considered for this report:
Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022-2026
Objective of the Study:
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the region. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufacturers, distribution channels and presence of all major manufacturers across the region.
TechSci Research calculated the market size of MEA & Pakistan brake pad market by using a bottom-up approach, where data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these services and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, MEA & Pakistan brake pad market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Light Commercial Vehicle
Company Profiles: Detailed analysis of the major companies present in MEA & Pakistan brake pad market.
With the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
List of Tables