Brake Pad Market: Size, Dynamics, Regional Insights, and Market Segment Analysis

Brake Pad Market was valued at USD 6.45 Billion in 2023, and it is expected to reach USD 13.35 Billion by 2030, exhibiting a CAGR of 10.94 % during the forecast period (2024-2030)

Brake pads are a component of disc brakes used in automotive and other applications. Many brake pad producers are getting into major lucrative industries. Brake pads that last the lifespan of the car are becoming more and more in demand from auto manufacturers. Manufacturers of brake pads are working hard to produce pads that last longer while also satisfying strict quality and environmental standards. For example, a Korean brake pad supplier named KB Autosys was considering to invest US$38 million in a new west Georgia manufacturing by building a new facility in Meriwether County in February 2021.

Disk brake pad producers (compounders) are seeking alternatives to conventional raw materials like copper and other materials that raise health and safety concerns in light of the growing emphasis on health, safety, and the environment. At a minimum every 5,000 miles, brake pads should be examined for excessive or uneven wear. Although each vehicle's brake pad wear is distinct, it is typically advised that brake pads be replaced or examined every 50,000 miles.

Brake Pad Replacement 2020-21:



Propulsion
Brake Pad Replacement Rate


Combustion Engine
2.3


Hybrid
1


Full Electric
0



According to Report, in 2020, 1% of cars sold will be full EVs and another 7% hybrid cars. By 2029, these percentages is expected to grow about 20% and 30% of all cars sold, respectively. The passenger car brake pad (PCDP) aftermarket won't be impacted by the change in propulsion in 2020. With an average lifespan of 12 years, there are currently an estimated 1.3 billion cars on the road. This implies that 250 million autos have their brake pads replaced annually. The total aftermarket for passenger car brake pads in 2019 was over 1.9 billion if we once more include 5% drum brakes.To know about the Research Methodology :- Request Free Sample Report
Brake Pad Market Dynamics:
High Demand for Front-Positioned Car Brake Pads

By 2030, demand for front-positioned car brake pads is expected to reach about 252 million units. As its installation ensures the ideal braking distance, the segment is expected to exhibit significant growth. The front brake system generates nearly 70% of the braking power, allowing it to effectively regulate vehicle movement across a wide temperature range. These brake pads' creation improves braking efficiency and offers a large surface area to increase friction in braking systems.

Adoption of Metal-Free Friction Materials

In the braking system of the automotive, the brake pads are important. Friction material industries grow as a result of the growth of the automotive industry. Customers have been converting from metallic brake pads, asbestos brake pads, and semi-metallic brake pads to ceramic brake pads in recent years due to their low braking efficiency and high rate of disc wear. Furthermore, asbestos brake pads, semi-metallic brake pads, and metallic brake pads all emit more heat and hazardous dust when braking. Moreover rust-free, more temperature resistant, and with improved thermal stability are ceramic brake pads. During the forecast period, all of these factors will contribute to the brake pad market's growth globally.

Accelerated growth of the Automotive Industry

Brake pads ceramic are used in the automotive sector as a replacement for a predictable brake pad that is made up of carbon, steel, and resin. The brakes are lighter than conventional or semi-metallic ones, which results in reduced wear on disc rotors during braking, which lowers noise when changing gears quickly. Because of their rapid heat dissipation, they also provide additional advantages like staying cooler during intensive use, which keeps them from deteriorating or wearing out too soon.Development of the Indian Automotive Industry: In India, the automotive industry is one of the most important basics of industrial development. According to a survey issued by the Organisation Internationale des Constructers Automobiles (OICA), India has overcome Germany to take the fourth-largest position in the world for the sale of automobiles. The first was occupied by China, then by the US and Japan. India is also Asia's third-largest car market, behind China and Japan. Today, almost all of the world's major automakers are present in India. Additionally, the country has become one of the key markets for brake friction due to growing sales of passenger cars, two-wheelers, commercial vehicles, three-wheelers, and off-the-road (OTR) vehicles. Moreover, because India's motorization rate is still lesser than that of developed countries, the country offers significant growth potential in the automotive and related industries, offering prospects for brake pads, and brake linings makers and suppliers.

The Brake Pad Market is growing as Electric Vehicle Production Rises

The usage of electric vehicles for commuting to work is encouraged by the government to reduce the environmental damage caused by greenhouse gases. The establishment of initiatives like the National Electric Mobility Mission Plan (NEMMP) is promoting consumer acceptance of electric and hybrid vehicles under FAME I and II (rapid adoption and manufacture of electric vehicles).

Additionally, the popularity of electric passenger cars, two-wheelers, and light-duty commercial vehicles is growing daily. The need for brake pads is anticipated to grow at CAGR of xx% during the forecast period as electric car use increases. Brake pad attachment is necessary for all-electric cars so that kinetic energy can be converted back into electrical energy and stored in batteries, ultra-capacitors, etc. to recharge batteries. Thus, as more end users opt for battery and hybrid electric vehicles (HEVs) with zero emissions, the need for brake pads is rising, fuelling the growth of the India Brake Pad Market from 2023 to 2030.

New Technology Development to Increase Market Opportunities

The brake pedal and other mechanical and hydraulic components of traditional brake systems are replaced by electronic sensors and controllers in the brake-by-wire approach. Many benefits of wire brake systems include their lighter weight, smaller size, lower working noise and vibration, and quicker response times, which lead to shorter stopping distances. Since this technology is still in its early stages, it can only be used commercially. Wire-based brake systems that rely on Sensotronic and Electronically Controlled Brake (ECB) technology are available on the Mercedes-Benz E-Class, SL, and Toyota Estima. Additionally, BMW and Nissan plan to enter the market soon.

Brake pads Market Trends:

 Demand for environmentally benign and long-lasting vehicle brake pads made without asbestos has increased. Automotive brake linings are produced using a variety of different materials, including rubber, glass, and resins.

 Manufacturers are concentrating on the development of high-temperature, dependable, and long-lasting brake linings due to the relatively fragmented nature of the global automotive brake linings industry. Automotive brake lining producers are also signing long-term supply agreements with automakers to guarantee a steady supply and increase market dominance.

 The need for automobile brake pads in electric vehicles has also increased. The market for automotive brake linings is anticipated to experience considerable development prospects as a result of the rising demand for electric automobiles.
Brake Pad Market Segment Analysis:
OEM sales channel recognition technology segment held the largest market share of 53.7% in 2023:

Based on sales channels, OEM dominated the global brake pad market with a revenue share of more than 53.7% in 2023. To enhance braking effectiveness, automakers are equipping their vehicles with cutting-edge and novel brake pads. Eco-friendly brake pad materials with organic fibers and semi-metallic components are among the many items that industry participant’s offer. Greater friction and noise performance are two areas where manufacturers are improving product performance.

Aftermarket parts are produced by other companies and might not be as high-quality or compatible as original equipment manufacturer (OEM) parts. Replacement, collision, aesthetically pleasing, and functional parts are produced by the aftermarket. Even though they are only marginally dependable in terms of quality and compatibility, customers choose these aftermarket components since they are sold at a discount. This ensures that 64% of the global car braking sector is covered by the aftermarket.

Passenger Vehicle Type to Emerge Dominant

By vehicle type, the passenger vehicle segment dominated the global brake pad market with a revenue share of over 31.4% in 2023, thanks to growing passenger vehicle production. A significant driving factor is the routine introduction of numerous passenger vehicle models, together with the different incentives offered by automakers to increase their sales. HCVs will experience significant growth as a result of the growing logistics and construction industry. HCVs carry huge loads, hence they need effective braking systems to increase the demand for safety at high speeds. The recent rise of commercial and public transportation projects in developing countries is expected to enhance the demand for heavy vehicles. Advanced brake systems are now widely used in passenger automobiles in Europe and North America, and it is expected that this rate is expected to grow over the forecast period.

In the Asia Pacific and the rest of the world, passenger cars and SUVs with all-four-wheel disc brakes are becoming ever more widespread as a result of strict safety regulations that make these braking systems required. As a result, the market for passenger car brake systems is expected to experience rapid growth.
Regional Insights
APAC to Retain Lead through 2030:

APAC is expected to witness significant growth during the forecast period, thanks to growing production and sales of vehicles in this region. Furthermore, the presence of important countries like China, India, and others is expected to boost demand in the market thanks to their substantial production capacities and robust supplier networks. For instance, China produced 996,000 passenger automobiles and 210,000 commercial vehicles in April 2022. A total of 1.2 million automobiles were produced by the industry during the month, a 46.2% and 46.1% lower total than the month before. 32.5% or so of the world's automobiles were produced in China.

Europe is the Second Largest Region in Terms of Growth in the Brake Pad Market in 2023.

High-performance car manufacturing and adoption are credited with this growth. Furthermore, the region's market is anticipated to rise as a result of government agencies issuing orders to install disc brakes. For instance, the European Commission (EC) mandated the installation of anti-lock braking systems in motorbikes in 2013 to promote road safety and prevent catastrophic accidents. Furthermore, the presence of significant automakers in the area, including Volkswagen, Daimler AG, and BMW, is anticipated to fuel market growth.

Top Brake Pads Manufacturers:Competitive LandscapeThe competitive landscape section in the brake pad market offers a deep dive into the profiles of the leading companies operating in the global market landscape. It offers captivating insights on the key developments, differential strategies, and other crucial aspects of the key players having a stronghold in the brake pad market. Such as.
Brake Pad Market Scope: Inquire before buying



Global Brake Pad Market


Report Coverage
Details


Base Year:
2023
Forecast Period:
2024-2030


Historical Data:
2018 to 2023
Market Size in 2023:
US 6.45 Bn.


Forecast Period 2024 to 2030 CAGR:
10.94%
Market Size in 2030:
US 13.35 Bn.


 Segments Covered:
by Brake Pad Material
Metallic
Ceramic
Organic


by Vehicle Type
Two Wheeler Vehicle
Passenger Vehicle
Commercial Vehicle
Off-road Vehicle


by Sales Channel
OEM
Aftermarket


by Position Type
Front
Rear



by Region
 North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
 South America (Brazil, Argentina, Columbia and Rest of South America)
Top Leading Manufacturers  in the Global Brake Pad Market are:
1. Centric Parts (US)
2. General Motors (US)
3. PowerStop (US)
4. Brake Parts Inc. (US)
5. Tenneco (US)
6. SSBC Brake Pad (US)
7. WAGNER (US)
8. Bendix (US)
9. Hawk Performance (US)
10.Wilwood Engineering, Inc (US)
11.Muller Brakes (US)
12.Robert Bosch GmbH (Germany)
13.ATE Brakes (Germany)
14.Japan Brake Industrial Co., Ltd. (Japan)
15.AISIN SEIKI Co., Ltd. (Japan)
16.Akebono Brake Industry (Japan)
17.MACAS AUTOMOTIVE (India)
18.Masu Brake (India)
19.ASK Automotive Pvt. Ltd. (India)
20.EBC Brakes (UK)
21.Ferodo (UK)
22.Hardex (Canada)
23.Pertec Brake Pads (Canada)
24.FBK Brake Pads(Malaysia)
25.Bremtec (Australia)

Frequently Asked Questions:

1] What segments are covered in the Global Brake Pad Market report?
Ans. The segments covered in the Brake Pad Market report are based on Form, Brake Pad Material, Vehicle Type, Sales Channel and Position type.

2] Which region is expected to hold the highest share in the Global Brake Pad Market?
Ans. The Asia Pacific region is expected to hold the highest share in the Brake Pad Market.

3] What is the market forecast size of the Global Brake Pad Market by 2030?
Ans. The market size of the Brake Pad Market by 2030 is expected to reach USD 13.35 Bn.

4] What is the forecast period for the Global Brake Pad Market?
Ans. The forecast period for the Brake Pad Market is 2024-2030.

5] What was the market size of the Global Brake Pad Market in 2023?
Ans. The market size of the Brake Pad Market in 2023 was valued at USD 6.45 Bn.