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, Growth Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026

Published Date: Jul 2020  |  Report ID: GMI1367  |  Authors: Kiran Pulidindi, Akshay Prakash

Report Format: PDF   |   Pages: 455   |   Base Year: 2019




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Automotive Brake Pads Market size valued at over USD 11 billion in 2019 and will grow at a CAGR of 7.6% from 2020 to 2026. Development of new brake pad material compounds that offer high friction and impart fade resistance to performance vehicles will support the industry growth.
 

Rising vehicle sales along with availability of light weight and advanced friction materials will proliferate automotive brake pads demand. The friction between wheels and brake pads increases temperature and may affect the brake system functioning. The advanced materials including non-asbestos organic composites and ceramics will enhance the brake pad’s efficiency over wide range of temperatures. Additionally, low noise characteristics and stable coefficient of friction enhances the vehicle performance.
 

Automotive Brake Pads Market
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Increasing problems associated to the automobiles such as overheating of brake pads along with the stringent government regulations pertaining to temperature limitation are supporting the automotive brake pads market growth. Minimizing stop time qualification in commercial vehicles has surged the requirement of advanced braking systems. According to NHTSA, stopping time for heavy vehicles has been minimized by 30% in order to prevent uncertainties. The usage of advanced materials along with reduction in noise play a significant role in the market expansion.
 

Incorporation of brake pad material offers smooth engagement with liner response over entire temperature range. The part manufacturers are expanding their product portfolio with introduction of new smart pads for racing and performance vehicles. However, vehicle manufacturers along with additive part manufacturers are developing advanced manufacturing technologies including 3D printing technology for series production of brake systems. The 3D printed brake parts are lightweight and withstand temperatures exceeding 1,014°C.
 

The COVID-19 pandemic has a swift & severe impact on the globally integrated automotive industry. Disruption in large-scale production and exports from China and Europe, and the closure of assembly plants in the U.S. are some of the factors impacting the market growth. This is placing intense pressure on an industry already coping with a downshift in the global demand and is leading to increased merger & acquisition activities.
 

Reduced disposable income and degrowth in the labor market have impacted the automotive demand. Just-in-time production, global networks, and lean inventory make the supply chain vulnerable to disruption. Furthermore, high complexities for designing of advanced brake pad components along with increasing stringency in regulations related to raw material quality will hinder the product demand.
 

Automotive Brake Pads Market Report Coverage
Report Coverage Details
Base Year: 2019 Market Size in 2019: 11 Billion (USD)
Historical Data for: 2016 to 2019 Forecast Period: 2020 to 2026
Forecast Period 2020 to 2026 CAGR: 7.6% 2026 Value Projection: 14.7 Billion (USD)
Pages: 455 Tables, Charts & Figures: 665
Geographies covered (27): U.S., Canada, Europe, Germany, UK, France, Spain, Italy, Russia, Poland, Netherlands, China, India, Japan, Australia, South Korea, Thailand, Indonesia, Brazil, Mexico, Argentina, Chile, Saudi Arabia, UAE, Iran, South Africa, Kuwait
Segments covered: Vehicle, Material , Sales Channel, Position, Region
Companies covered (38): Wilwood Engineering, ATE, Brembo S.p.A., EBC Brakes, ICER BRAKES SA, Nisshinbo Brake Inc., WAGNER, Hitachi Chemical, HAWK Performance, Double Link Hunan Boyun Automobile Brake Material Co Ltd, Sangsin Brakes, KFE brakes system, Ranbro Brakes India Limited, Brakewel Automotive Components India , TMD Friction Holding GmbH, GUD HOLDINGS LIMITED, Continental Automotive GRUPA STEINHOF SP Z O O, SUNDARAM BRAKE LININGS LIMITED Power Stop LLC, APC Automotive Technologies, Ford Motor Company, Allied Nippon, Tenneco Inc., ZF Friedrichshafen AG, MAT Holding Inc., Rane Brake Lining Limited, ACDelco, Akebono Brake Corporation, Hindustan Composites Limited Makino Auto Industries Pvt ltd, Robert Bosch GmBH, Brakes India Private Limited Pertec Brake Pads Ltd., Max Advanced Brakes, Ferodo, Bendix, etc.
Growth Drivers:
  • High motorization rate and presence of manufacturers
  • Increasing brake components and parts import
  • Increasing vehicle production and sales along with rising presence of brake pad manufacturers
  • Updated vehicle safety regulations along with rising commercial vehicle sales
  • Growing presence of automotive players
Pitfalls & Challenges:
  • Design Complexity and stringent government regulations for raw materials

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Continuous expansion of public and private transportation will propel automotive brake pads utilization

PCV vehicle segment revenue was around USD 7.2 billion in 2019 and is likely to witness decent growth rate through 2026. The frequent launch of passenger vehicle models coupled with multiple offers provided by vehicle manufacturers to increase their sales are main driving factors for the segment. Premium and luxury car manufacturers are manufacturing products that are sensor enabled owing to easy inspection and self-adjusting features. Further, rising demand for passenger car sales in developed nation will boost brake pads demand.
 

Superior properties of materials will influence the industry growth

 Automotive Brake Pads Market Size

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Semi-metallic material segment valuation surpassed USD 2.16 billion in 2019 and will foresee growth of 7.9% during the forecast timeframe owing to ability to provide high shear and bonding strength in brake systems. The presence of 30% to 60% metallic materials including steel and iron provide high thermal stability to the brake systems. In addition, higher temperature operating range of up to 400 degree Celsius over traditional drum brakes will increase the product penetration in the coming years.
 

OEM installation of automotive brake pads will escalate product demand

OEM sales channel holds over 70% of the automotive brake pads market share. Individual vehicle manufacturers are incorporating innovative brake pads in their vehicles to enhance the braking efficiency. OEM offers improved quality assurance, wear resistance, and restricts noise and dust.
 

Industry participants are offering wide range of products that includes eco-friendly brake pads materials containing organic fibers along with semi-metallic components. The manufacturers are optimizing product performance to offer greater friction and noise performance.
 

Front and rear automotive brake pads will accommodate majority position segment share

  Automotive Brake Pads Market Share

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Front & rear segment leads the automotive brake pads market due to optimization of vehicle performance with specialized brake pad design for every vehicle wheel. The industry players are frequently launching new products with customized braking designs for trucks and SUVs. For instance, in June 2018, Federal-Mogul Motorparts announced that their brand Wagner Brake launched 28 new brake pads for Ford and Toyota Vehicles between November 2017 to first quarter of 2018.
 

Asia Pacific to dominate the regional business expansion

  Automotive Brake Pads Industry

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Asia Pacific automotive brake pads market revenue is predicted to exceed USD 7.5 billion by 2026 impelled by rising vehicle sales along with growing disposable income of people from emerging economies. Automotive industry in China & India accounts for major vehicle sales across the globe and contributes towards increased product penetration. However, establishment of new brake pads production companies in the region further enhances the regional share.
 

Rise in manufacturing of passenger cars and increasing fleet size act as key drivers in increasing demand of automotive brake pad. Moreover, industry players are investing in R&Ds for providing better services to their customers.
 

Increased geographical expansion and new product development are the key strategies

The automotive brake pads industry will hold huge potential in future owing to development of eco-friendly materials. New product launches and M&A activities appear to be the key strategy adopted by companies to increase their industry foothold. In 2017, EBC Brakes extended its UK facility to increase the production capacity of brakes with advanced laser sheet metal cutting R&D facility, a production and assembly line for brake calipers and increased warehouse capacity.
 

In the same year, Continental Automotive signed a strategic cooperation framework agreement with NIO in the field of electric vehicles in addition to advanced vehicle technologies such as next generation brake system, automated driving, wireless charging, digital cockpit, and air suspension systems. This agreement will lead the company to target wide customer base.
 

Other key players operating in the automotive brake pads market ecosystem include Wilwood Engineering. ICER BRAKES SA, Hitachi Chemical, Hunan Boyun Automobile Brake Material, Continental Automotive, GRUPA STEINHOF, Power Stop LLC, Ford Motor Company, ZF Friedrichshafen AG, MAT Holding Inc., Akebono Brake Corporation, Makino Auto Industries, Robert Bosch, Max Advanced Brakes, and Ferodo, Bendix.
 

This market research report on automotive brake pads includes in-depth coverage of the industry with estimates & forecast in terms of volume in Tons and revenue in USD thousand from 2016 to 2026, for the following segments:

Market, by Vehicle

  • PCV
  • LCV
  • HCV
  • Two-Wheelers

Market, by Material

  • Semi Metallic
  • Non-Asbestos Organic (NAO)
  • Low-Metallic NAO
  • Ceramic

Market, By Sales Channel

  • OEM
  • Aftermarket

Market, By Position

  • Front
  • Front and Rear

The above information is provided on a regional and country basis for the following:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
    • Russia
    • Poland
    • Netherlands
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • Thailand
    • Indonesia
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Chile
  • MEA
    • Saudi Arabia
    •  UAE
    • Iran
    • South Africa
    • Kuwait
       

Frequently Asked Questions (FAQ) :

The market size of automotive brake pads surpassed USD 11 billion in 2019.
The industry share of automotive brake pads is anticipated to grow at 7.6% CAGR between 2020 to 2026.
PCV vehicle segment was worth USD 7.2 billion in 2019 and may witness appreciable growth ahead driven by consistent launch of passenger vehicles and the myriad offers by automakers.
Semi-metallic material segment was worth USD 2.16 billion in 2019 and will exhibit 7.9% CAGR through 2026, since it has exceptional ability to provide high bonding strength and thermal stability in brake systems.
OEM sales channel, that accounted for 70% revenue share in 2019, will remain prominent for automotive brake pads, given that it offers excellent quality assurance, wear resistance, and reduces noise and dust.
These products will gain popularity across Asia Pacific, given the rising sales of automobiles in the region driven by increasing affordability. APAC industry may surpass USD 7.5 billion by 2026.
The ongoing COVID-19 pandemic has led to a disruption in production and exports from various geographies, leading to more M&As to cope with the downshift in demand.

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Premium Report Details

  • Published Date: Jul 2020
  • Pages: 455
  • Tables: 653
  • Charts / Figures: 12
  • Companies covered: 38
  • Countries covered: 27

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