The global Automotive Brake Pad Market was valued at around US$ 2.6 Billion in 2021, with a projected CAGR of 4.6% for the next ten years. The market is likely to reach a valuation of nearly US$ 4.2 Billion by the end of 2032. Future Market Insights’ analysis reveals that the market for Non-Asbestos Organic Brake Pad will see steady growth and is set to witness a 4.5% CAGR, during the forecast period.
| Attribute | Details |
|---|---|
| Automotive Brake Pad Market Size (2022) | US$ 2.7 Billion |
| Projected Market Value (2032) | US$ 4.2 Billion |
| Global Market Growth Rate (2022 to 2032) | 4.6% CAGR |
| Share of Top 5 Countries | More than 53% |
| North America Market Share (2021) | ~41.4% |
| United States Growth Rate (2022 to 2032) | ~3.9% |
| Key Countries Profiled |
|
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
In order to make driving more convenient and safe, automotive manufacturers are actively attempting to improve brake pad technology as a result of technological advancements. Apart from the traditional brake pads, manufacturers have developed brake pads into anti-lock braking systems (ABS) and anti-collision items. Due to the rise of hybrid and electric vehicles, regenerative braking and anti-lock brakes (ABS) have recently dominated the brake pad market in the USA and Europe. In 2020, the market for electric car regenerative braking pads was valued at US$ 3.5 billion. These technical improvements, such as regenerative braking and the introduction of a brake-by-wire system, have significant potential in developing countries, indicating a positive automotive brake pad market trend.
Defective brakes are one of the key reasons causing accidents in the UK, according to the Department for Transport Statistics. Innovation in braking technologies, concerns regarding the safety of the driver, and haphazardness on the roads, especially in developing countries are some of the factors which are causing a high demand for high-end automotive brake components. Awareness about the safety systems and safety regulations under the new car Assessment Programme will induce the demand for advanced electronic brake systems.
The USA Department of Transportation’s National Highway Traffic Safety Administration has put forward the manufacturing of automatic emergency braking systems (AEB). With low-speed AEBs, road crashes will reduce and therefore prevent the exposure of injuries. The Ministry of Road Transport and Highways proposed government of India and mandated anti-lock braking systems for new two-wheelers from April 1, 2018. These stringent norms will drive the brake pad manufacturers to develop advanced braking pads. From 2020, Ford, Honda, Kia, and Nissan equipped their new passenger vehicles with AEB.
While the use of Asbestos based brake pads is set to see a downfall due to its harmful effects leading to lung cancer and is banned in more than 55 countries including Japan, Australia, and European Union. However, Russia produces a large amount of asbestos with an annual production of approximately 790,000 million metric tonnes in 2020.
Principal Consultant
Due to several Covid-19 restrictions in many countries, the demand and supply chain for automotive brake pads had witnessed a significant drop. As the demand for vehicles was disrupted, automotive brake pad sales were lowered. China, which is the largest automobile manufacturer halted its supply chain which led to an immediate fall in its current production. Automotive components production is usually spread across countries, and with every country imposing its own protocol, it is likely to disrupt the supply chain management. However, at the beginning of 2021, the demand for automotive brake pads regained its presence with the recommencement of operations due to the emerging need for passenger and commercial vehicles.
Brembo S.p.A, a leading brake manufacturing company had a devastating impact where its profit fell by 24% in the first quarter of 2020. Their earnings before interest, tax, depreciation and amortization (EBITDA) fell to $110 Million in the first quarter and revenue dropped to 13.7%. However, after the resumption of manufacturing operations, the government was also making efforts to expand the regional demand to boost the market.
According to the Society of Indian Automobile Manufacturers (SIAM), the automotive Mission Plan 2021 to 2026 a joint vision by the Indian Automotive industry and the Government of India aims to reach a certain position in auto components, tractor industries, and vehicles in the next ten years. It also plans to focus on implementing policies that govern technology, manufacturing, import/export, and recycling of automotive vehicles, components, and services.
The absolute dollar opportunity growth in the USA is US$ 451.3 Million from 2022 to 2032 and is expected to witness a surge of 3.9% CAGR, during the forecast period. The growth is mainly driven by the advancement in technological improvements and an increase in the demand for electric vehicles. They are largely investing in Research and Development activities and focussing on strengthening the heat dissipation capacity. Moreover, increased trade operations, resulting in traveling longer distances are driving the demand for commercial transport vehicles.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
Non-Asbestos Organic Brake Pads remain the key material type from 2017 to 2021, and its market grew at 3.6% CAGR from 2017 to 2021. Asbestos being highly toxic has surged the demand for Non-Asbestos Organic brake pads. It is made up of fiberglass, rubber Kevlar and cellulose. Owing to its property of being soft and noiseless, it is used in manufacturing day-to-day vehicles. However, the use of Non-Asbestos Organic Brake Pad is limited in high-end vehicles due to increased wear and tear.
Ceramic brake pads are being highly utilized in hybrid and electric vehicles due to their sturdy feature that helps to retain high thermal resistance while following environmental protocols. Ceramic material type is anticipated to lead in revenue generation terms to the global electric vehicle market during the forecasted period. Ceramic Brake pads require less replacement and produce less dust than organic brake pads. Because of its structure, it wears down at a slower rate. Although the cost of manufacturing is higher, however, owing to the properties of noise it is preferred by most automotive brake manufacturers.
North America is expected to account for 41.4% of the market share in the automotive brake pad market by 2032. The growth is attributed to the increased innovation and full utilization of upcoming brake pad technology. Increased regulation by the USA government agencies such as EPA to manufacture copper-free brakes is also driving the automotive brake pad market to regain its influence in the USA The absolute dollar opportunity growth of the USA in the automotive brake pad market is US$ 451.3 Million from 2022 to 2032.
The absolute dollar opportunity growth of the market in China, in the automotive brake pad market, is expected to reach US$ 84.3 million by 2032. The market in China is expected to grow at a 3.6% CAGR during the forecast period. The growth can be attributed to improved knowledge among car makers and research in upgraded brake components. China’s anticipated market size will be US$282.2 Million by 2032 in the automotive brake pad market.
Automotive brake pad manufacturers are largely aiming at setting up manufacturing facilities, investing in Research and Development, innovating their products, and focusing on the development of brake pads that will prove to be optimal and have a longer shelf life. The key companies operating in the automotive brake pad market are Brembo S.p.A, Akebono Brake Company, Nisshinbo Brake Inc, Continental, Automotive GmbH, Bosch Limited, Tenneco Inc., Brakewel Automotive Components India Pvt. Ltd., Ranbro, Makino Auto Industries Pvt. Ltd, Japan Brake Industrial Co., Ltd. ZF Friedrichshafen AG and Hebei Huahua Friction Material CO., Ltd.
Some of the recent developments by key providers of the automotive brake pad market are as follows:
Similarly, recent developments related to companies manufacturing automotive brake pads Market have been tracked by the team at Future Market Insights, which is available in the full report.
The global Automotive Brake Pad Market was valued at US$ 2.7 Billion in 2022 and is expected to grow at a 4.6% CAGR, during the forecast period of 2022 to 2032
The market for Non-Asbestos Organic Brake Pad is projected to grow at 4.5% CAGR, from 2022 to 2032.
Brembo S.p.A,Akebono Brake Company, Nisshinbo Brake Inc, Continental, Automotive GmbH, Bosch Limited, Tenneco Inc., Brakewel Automotive Components India Pvt. Ltd., Ranbro, Makino Auto Industries Pvt. Ltd, Japan Brake Industrial Co., Ltd,. ZF Friedrichshafen AG and Hebei Huahua Friction Material CO., Ltd. are some of the key players in the Automotive Brake Pad Market
Commercial Vehicle is driving the demand for the Automotive Brake Pad Market and is expected to reach 4.5% CAGR during the forecasted period of 2022 to 2032.
United Kingdom, United States of America, China, Japan, and South Korea are expected to drive the most sales growth of automotive brake pad market
1. Executive Summary | Automotive Brake Pad Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
3.6. Regulatory Landscape
3.6.1. By Key Regions
3.6.2. By Key Countries
3.7. Regional Parent Market Outlook
4. Global Market Analysis 2017 to 2021 and Forecast, 2022 to 2032
4.1. Historical Market Size Value (US$ Billion) Analysis, 2017 to 2021
4.2. Current and Future Market Size Value (US$ Billion) Projections, 2022 to 2032
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Material Type
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Billion) Analysis By Material Type, 2017 to 2021
5.3. Current and Future Market Size Value (US$ Billion) Analysis and Forecast By Material Type, 2022 to 2032
5.3.1. Metallic Brake Pad
5.3.2. Semi-Metallic Brake Pad
5.3.3. Ceramic Brake Pad
5.3.4. Asbestos Brake Pad
5.3.5. Non-Asbestos Organic Brake Pad
5.4. Y-o-Y Growth Trend Analysis By Material Type, 2017 to 2021
5.5. Absolute $ Opportunity Analysis By Material Type, 2022 to 2032
6. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Vehicle Type
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Billion) Analysis By Vehicle Type, 2017 to 2021
6.3. Current and Future Market Size Value (US$ Billion) Analysis and Forecast By Vehicle Type, 2022 to 2032
6.3.1. Commercial Vehicle
6.3.2. Passenger Cars
6.4. Y-o-Y Growth Trend Analysis By Vehicle Type, 2017 to 2021
6.5. Absolute $ Opportunity Analysis By Vehicle Type, 2022 to 2032
7. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region
7.1. Introduction
7.2. Historical Market Size Value (US$ Billion) Analysis By Region, 2017 to 2021
7.3. Current Market Size Value (US$ Billion) Analysis and Forecast By Region, 2022 to 2032
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. Asia Pacific
7.3.5. Middle East and Africa
7.4. Market Attractiveness Analysis By Region
8. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
8.1. Historical Market Size Value (US$ Billion) Trend Analysis By Market Taxonomy, 2017 to 2021
8.2. Market Size Value (US$ Billion) Forecast By Market Taxonomy, 2022 to 2032
8.2.1. By Country
8.2.1.1. United Kingdom
8.2.1.2. Canada
8.2.2. By Material Type
8.2.3. By Vehicle Type
8.3. Market Attractiveness Analysis
8.3.1. By Country
8.3.2. By Material Type
8.3.3. By Vehicle Type
8.4. Key Takeaways
9. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
9.1. Historical Market Size Value (US$ Billion) Trend Analysis By Market Taxonomy, 2017 to 2021
9.2. Market Size Value (US$ Billion) Forecast By Market Taxonomy, 2022 to 2032
9.2.1. By Country
9.2.1.1. Brazil
9.2.1.2. Mexico
9.2.1.3. Rest of Latin America
9.2.2. By Material Type
9.2.3. By Vehicle Type
9.3. Market Attractiveness Analysis
9.3.1. By Country
9.3.2. By Material Type
9.3.3. By Vehicle Type
9.4. Key Takeaways
10. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
10.1. Historical Market Size Value (US$ Billion) Trend Analysis By Market Taxonomy, 2017 to 2021
10.2. Market Size Value (US$ Billion) Forecast By Market Taxonomy, 2022 to 2032
10.2.1. By Country
10.2.1.1. Germany
10.2.1.2. United Kingdom
10.2.1.3. France
10.2.1.4. Spain
10.2.1.5. Italy
10.2.1.6. Rest of Europe
10.2.2. By Material Type
10.2.3. By Vehicle Type
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Material Type
10.3.3. By Vehicle Type
10.4. Key Takeaways
11. Asia Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
11.1. Historical Market Size Value (US$ Billion) Trend Analysis By Market Taxonomy, 2017 to 2021
11.2. Market Size Value (US$ Billion) Forecast By Market Taxonomy, 2022 to 2032
11.2.1. By Country
11.2.1.1. China
11.2.1.2. Japan
11.2.1.3. South Korea
11.2.1.4. Malaysia
11.2.1.5. Singapore
11.2.1.6. Australia
11.2.1.7. Rest of Asia Pacific
11.2.2. By Material Type
11.2.3. By Vehicle Type
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Material Type
11.3.3. By Vehicle Type
11.4. Key Takeaways
12. Middle East and Africa Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
12.1. Historical Market Size Value (US$ Billion) Trend Analysis By Market Taxonomy, 2017 to 2021
12.2. Market Size Value (US$ Billion) Forecast By Market Taxonomy, 2022 to 2032
12.2.1. By Country
12.2.1.1. GCC Countries
12.2.1.2. South Africa
12.2.1.3. Israel
12.2.1.4. Rest of Middle East and Africa
12.2.2. By Material Type
12.2.3. By Vehicle Type
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Material Type
12.3.3. By Vehicle Type
12.4. Key Takeaways
13. Key Countries Market Analysis
13.1. United Kingdom
13.1.1. Pricing Analysis
13.1.2. Market Share Analysis, 2021
13.1.2.1. By Material Type
13.1.2.2. By Vehicle Type
13.2. Canada
13.2.1. Pricing Analysis
13.2.2. Market Share Analysis, 2021
13.2.2.1. By Material Type
13.2.2.2. By Vehicle Type
13.3. Brazil
13.3.1. Pricing Analysis
13.3.2. Market Share Analysis, 2021
13.3.2.1. By Material Type
13.3.2.2. By Vehicle Type
13.4. Mexico
13.4.1. Pricing Analysis
13.4.2. Market Share Analysis, 2021
13.4.2.1. By Material Type
13.4.2.2. By Vehicle Type
13.5. Rest of Latin America
13.5.1. Pricing Analysis
13.5.2. Market Share Analysis, 2021
13.5.2.1. By Material Type
13.5.2.2. By Vehicle Type
13.6. Germany
13.6.1. Pricing Analysis
13.6.2. Market Share Analysis, 2021
13.6.2.1. By Material Type
13.6.2.2. By Vehicle Type
13.7. United Kingdom
13.7.1. Pricing Analysis
13.7.2. Market Share Analysis, 2021
13.7.2.1. By Material Type
13.7.2.2. By Vehicle Type
13.8. France
13.8.1. Pricing Analysis
13.8.2. Market Share Analysis, 2021
13.8.2.1. By Material Type
13.8.2.2. By Vehicle Type
13.9. Spain
13.9.1. Pricing Analysis
13.9.2. Market Share Analysis, 2021
13.9.2.1. By Material Type
13.9.2.2. By Vehicle Type
13.10. Italy
13.10.1. Pricing Analysis
13.10.2. Market Share Analysis, 2021
13.10.2.1. By Material Type
13.10.2.2. By Vehicle Type
13.11. Rest of Europe
13.11.1. Pricing Analysis
13.11.2. Market Share Analysis, 2021
13.11.2.1. By Material Type
13.11.2.2. By Vehicle Type
13.12. China
13.12.1. Pricing Analysis
13.12.2. Market Share Analysis, 2021
13.12.2.1. By Material Type
13.12.2.2. By Vehicle Type
13.13. Japan
13.13.1. Pricing Analysis
13.13.2. Market Share Analysis, 2021
13.13.2.1. By Material Type
13.13.2.2. By Vehicle Type
13.14. South Korea
13.14.1. Pricing Analysis
13.14.2. Market Share Analysis, 2021
13.14.2.1. By Material Type
13.14.2.2. By Vehicle Type
13.15. Malaysia
13.15.1. Pricing Analysis
13.15.2. Market Share Analysis, 2021
13.15.2.1. By Material Type
13.15.2.2. By Vehicle Type
13.16. Singapore
13.16.1. Pricing Analysis
13.16.2. Market Share Analysis, 2021
13.16.2.1. By Material Type
13.16.2.2. By Vehicle Type
13.17. Australia
13.17.1. Pricing Analysis
13.17.2. Market Share Analysis, 2021
13.17.2.1. By Material Type
13.17.2.2. By Vehicle Type
13.18. Rest of Asia Pacific
13.18.1. Pricing Analysis
13.18.2. Market Share Analysis, 2021
13.18.2.1. By Material Type
13.18.2.2. By Vehicle Type
13.19. GCC Countries
13.19.1. Pricing Analysis
13.19.2. Market Share Analysis, 2021
13.19.2.1. By Material Type
13.19.2.2. By Vehicle Type
13.20. South Africa
13.20.1. Pricing Analysis
13.20.2. Market Share Analysis, 2021
13.20.2.1. By Material Type
13.20.2.2. By Vehicle Type
13.21. Israel
13.21.1. Pricing Analysis
13.21.2. Market Share Analysis, 2021
13.21.2.1. By Material Type
13.21.2.2. By Vehicle Type
13.22. Rest of the Middle East and Africa
13.22.1. Pricing Analysis
13.22.2. Market Share Analysis, 2021
13.22.2.1. By Material Type
13.22.2.2. By Vehicle Type
14. Market Structure Analysis
14.1. Competition Dashboard
14.2. Competition Benchmarking
14.3. Market Share Analysis of Top Players
14.3.1. By Regional
14.3.2. By Material Type
14.3.3. By Vehicle Type
15. Competition Analysis
15.1. Competition Deep Dive
15.1.1. ACDelco
15.1.1.1. Overview
15.1.1.2. Product Portfolio
15.1.1.3. Profitability by Market Segments
15.1.1.4. Sales Footprint
15.1.1.5. Strategy Overview
15.1.1.5.1. Marketing Strategy
15.1.2. AKEBONO BRAKE CORPORATION
15.1.2.1. Overview
15.1.2.2. Product Portfolio
15.1.2.3. Profitability by Market Segments
15.1.2.4. Sales Footprint
15.1.2.5. Strategy Overview
15.1.2.5.1. Marketing Strategy
15.1.3. Brake Parts Inc. LLC.
15.1.3.1. Overview
15.1.3.2. Product Portfolio
15.1.3.3. Profitability by Market Segments
15.1.3.4. Sales Footprint
15.1.3.5. Strategy Overview
15.1.3.5.1. Marketing Strategy
15.1.4. Brembo S.p.A.
15.1.4.1. Overview
15.1.4.2. Product Portfolio
15.1.4.3. Profitability by Market Segments
15.1.4.4. Sales Footprint
15.1.4.5. Strategy Overview
15.1.4.5.1. Marketing Strategy
15.1.5. Hebei Huahua Friction Material CO., Ltd.
15.1.5.1. Overview
15.1.5.2. Product Portfolio
15.1.5.3. Profitability by Market Segments
15.1.5.4. Sales Footprint
15.1.5.5. Strategy Overview
15.1.5.5.1. Marketing Strategy
15.1.6. Nisshinbo Holdings Inc.
15.1.6.1. Overview
15.1.6.2. Product Portfolio
15.1.6.3. Profitability by Market Segments
15.1.6.4. Sales Footprint
15.1.6.5. Strategy Overview
15.1.6.5.1. Marketing Strategy
15.1.7. Robert Bosch GmbH
15.1.7.1. Overview
15.1.7.2. Product Portfolio
15.1.7.3. Profitability by Market Segments
15.1.7.4. Sales Footprint
15.1.7.5. Strategy Overview
15.1.7.5.1. Marketing Strategy
15.1.8. SANGSIN BRAKE
15.1.8.1. Overview
15.1.8.2. Product Portfolio
15.1.8.3. Profitability by Market Segments
15.1.8.4. Sales Footprint
15.1.8.5. Strategy Overview
15.1.8.5.1. Marketing Strategy
15.1.9. ZF Friedrichshafen AG
15.1.9.1. Overview
15.1.9.2. Product Portfolio
15.1.9.3. Profitability by Market Segments
15.1.9.4. Sales Footprint
15.1.9.5. Strategy Overview
15.1.9.5.1. Marketing Strategy
15.1.10. Util Industries S.p.A.
15.1.10.1. Overview
15.1.10.2. Product Portfolio
15.1.10.3. Profitability by Market Segments
15.1.10.4. Sales Footprint
15.1.10.5. Strategy Overview
15.1.10.5.1. Marketing Strategy
16. Assumptions & Acronyms Used
17. Research Methodology
Explore Automotive Insights
View Reports
Automotive Brake Pad Market
