1. Market Research
  2. > Automotive Market Trends
Automotive Brake Pad Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Material Type and Vehicle Type

Automotive Brake Pad Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Material Type and Vehicle Type

  • April 2022
  • 144 pages
  • ID: 6279420
  • Format: PDF
  • The Insight Partners

Summary

Table of Contents

Search Inside

The global automotive brake pad market is expected to grow from US$ 2,580.57 million in 2021 to US$ 3,342.58 million by 2028. It is estimated to grow at a CAGR of 3.8% from 2020 to 2028.

The rising demand for passenger cars and stricter vehicle safety norms is driving the automotive brake pad market significantly.Manufacturers are improving brake pads and disc systems due to the enforcement of stringent policies by various governments worldwide.

They are improving the braking system to reduce stopping distance and incorporating various sensors for pedestrian impact prevention, such as visible light and infrared.Guidelines, such as panic stop braking with a shorter stopping distance, have been announced, affecting the brake pad business in general.

As a result, brake pad producers are focusing on disc brake evolution to fulfill the new rules on stopping distance.Consequently, the rising demand for brake pads is propelling the automotive brake pad market.

The companies are primarily concerned with producing environmentally safe, dependable, and durable braking systems. Major players have made significant investments in research and development to enhance their market shares and assure healthy growth. Continental North America, for instance, a subsidiary of Continental AG based in the US, invested almost US$ 40 million to expand the Morganton auto plant. North Carolina has also given the corporation a US$ 1.6 million job development incentive grant. The additional production capacity would be used to produce MK C1 braking systems.

Impact of COVID-19 Pandemic on Automotive Brake Pad Market

As governments across the world have imposed lockdowns in first half of 2020, several automotive brake pad manufacturers’ demand and supply activities experienced significant drop.Also, significant drop in the vehicle sales hampered the brake system demand, and ultimately lowered the sale of automotive brake pads.

From the beginning of the 2021, the automotive brake pad market started to regain its momentum and with significant space due to increasing demand of passenger vehicles from emerging countries. With growing automotive industry the brake pad manufacturers is regaining its pace with the resumption of operations at manufacturing units, which would boost the automotive brake pad market in the coming years.

Overall, In 2020, the COVID-19 outbreak acted as a significant limitation on the automobile parts and components business, as trade restrictions and consumption disrupted supply chains fell due to government lockdowns around the world.However, during the projected period of 2021–2028, government incentives, expanding regional demand, and the easy availability of raw materials are expected to boost the market’s expansion.

For instance, India’s Automobile Mission Plan FAME-II prioritizes government assistance to the country’s burgeoning automotive and component manufacturing industries. Automobile parts and accessories manufacturing businesses have undergone extensive renovation in recent years, resulting in the emergence of a highly competitive industry.

The overall automotive brake pad market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.

The process also serves the purpose of obtaining an overview and forecast for the automotive brake pad market with respect to all the segments.It also provides the overview and forecast for the market based on all the segmentation provided with respect to five major regions—North America, Europe, Asia Pacific, Middle East & Africa, and South America.

Also, primary interviews were conducted with industry participants and commentators to validate data and gain more analytical insights into the topic. Participants in this process include industry experts, such as VPs, business development managers, market intelligence managers, national sales managers, and external consultants, such as valuation experts, research analysts, and key opinion leaders, specializing in the automotive brake pad market.

ACDelco; AKEBONO BRAKE INDUSTRY CO., LTD.; Brake Parts Inc. LLC.; Brembo S.p.A.; Hebei Huahua Friction Material CO., Ltd.; Nisshinbo Holdings Inc.; Robert Bosch GmbH; SANGSIN BRAKE; Util Industries S.p.A.; and ZF Friedrichshafen AG are the prominent automotive brake pad market players profiled in the research study.

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

ReportLinker may already be registered as a supplier with your company. If you want to Order by PO, check with us first and we'll let you know if we are a registered supplier and what the vendor number is. Otherwise, we'll provide you with the necessary information to register ReportLinker as a vendor.

Ahmad helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at [email protected] to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - [email protected] or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers

Automotive Suspension System Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

  • $ 4750
  • April 2022
  • 93 pages

The automotive suspension system market was valued at USD 61.05 billion in 2021, and it is expected to reach USD 86.16 billion by 2027, registering a CAGR of about 5.76% during the forecast period 2022 ...

  • World
  • Europe
  • Automotive
  • Auto Parts
  • Industry analysis
  • Car Sales
  • Vehicle Production

ref:plp2022

Reportlinker.com © Copyright 2022. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on