Market Research Report
India Brakepad Market, By Vehicle Type, By Vehicle Type, By Demand Category, By Material Type By Region, Forecast & Competition, Opportunities, 2017- 2027F
|India Brakepad Market, By Vehicle Type, By Vehicle Type, By Demand Category, By Material Type By Region, Forecast & Competition, Opportunities, 2017- 2027F|
Published: April 1, 2022
Content info: 76 Pages
Delivery time: 2-3 business days
India brakepad market was valued at USD4937.11 million in 2021 and is projected to register at a CAGR of 7.49% to reach USD7386.07 million by 2027. Increased production and sales of automobiles and the surge in popularity of electric and hybrid vehicles are the primary factors driving the demand of the India brakepad market. Also, ongoing technological advancements and supportive government policies promoting the growth of the automotive industry are expected to bolster the India brakepad market growth through the forecast period.
The government is promoting the use of electric vehicles for daily commuting to reduce the effect of greenhouse gases on the environment. The launch of initiatives like the National Electric Mobility Mission Plan (NEMMP) is increasing the adoption of electric and hybrid vehicles among consumers under FAME I and II. Leading authorities have allocated massive funds to develop supportive charging infrastructure, which is expected to proliferate the demand for electric vehicles across the country. The growing sales of electric vehicles are expected to boost the demand for brakepad as they are essential to ensure the proper running of automobiles.
Market players are investing in research and development activities to find innovative solutions and upgrade the existing infrastructure. They are installing different sensors and are making efforts to lessen the stopping distance of automobiles. Also, the advent of friction-free materials is expected to create lucrative growth opportunities for India brakepad market in the forecast period.
The India brakepad market is segmented into vehicle type, demand category, material type, regional distribution, and competitive landscape. On the basis of vehicle type, the market is divided into passenger cars, two-wheelers, light commercial vehicle (LCV), and medium and heavy commercial vehicles (M&HCV). Passenger cars dominated the market in 2021 by capturing 65.5% market share and are anticipated to maintain their dominance throughout the forecast period, 2023-2027. The rise in youth population and increased per capita income of consumers coupled with changing preference for private vehicle ownership are boosting are the demand for passenger vehicles in the country. With high sales of passenger cars and increasing vehicle production in the country, the India brake pad market is expected to grow at a significant rate in the forecast period.
Brakes India Private Limited, Rane Holdings Limited, Endurance Technologies Limited, ASK Automotive Pvt. Ltd., Brembo Brake India Pvt. Ltd., Makino Auto Industries Pvt. Ltd., Masu Brake Pads Pvt.Ltd., Allied Nippon Ltd., Sagestics India Brakes Private Limited, and Ceratech Friction Composites are the major players operating in India brakepad market.
Years considered for this report:
Historical Years: 2017-2020
Base Year: 2021
Estimated Year: 2022
Forecast Period: 2023-2027
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 brakepad manufacturing companies across the country. 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 vendors which could not be identified due to the limitations of secondary research.
TechSci Research calculated India brakepad market size using a bottom-up approach, where data for various end user industries and its application across various product types were 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 product types 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 used 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 brakepad manufacturing companies, end users etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, India brakepad market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Company Profiles: Detailed analysis of the major companies present in India brakepad 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:
The data given for any year represents the market during the period, i.e., 1st April of the previous year to 31st March of that year. eg: For 2022E, the data represents the period, 1st April 2021 to 31st March 2022. Please note that all the macro economic indicators in the economic profiles are for Calendar year.