Global Automotive brake pads Market to reach USD 4812.8 million by 2026.

Global Automotive brake pads Market is valued approximately USD 3339.4 million in 2018 and is anticipated to grow with a healthy growth rate of more than 5.0% over the forecast period 2019-2026. Brake pads are the most significant component of an automobile braking system. An automotive braking system is known as a group of electronic, mechanical, and hydraulically activated components, which make use of friction/heat to stop a moving vehicle. Increasing need for advanced technology automotive brakes for passenger as well as commercial vehicles, growing demand for high-performance vehicles along with the increase in number of road accidents are some major trends that strengthen the growth of the automotive brake pad market over the forecast period of 2019-2026. Apart from this, increasing awareness regarding passenger safety and vehicle efficiency and growth in automotive sector are some other key forces that are responsible for the wide adoption of automotive brake pads globally over the forecast period of 2019-2026. Increasing demand of electric & hybrid vehicles is one of the major factors that stimulate the demand of brake pads in passenger vehicles across the globe. For instance: The Edison Electric Institute estimated that, global electric vehicles sales totaled about 312,000 in Q1 2018, an increase of 58% compared to Q1 2017, Also, it is estimated that number of electric vehicles on the road in the United States, is about 8,90,000 in 2018, up from number of electric vehicles of approximately 6,00,000 in 2017. As a result, high utility of automotive brake pad is observed in passenger vehicles thereby, supplementing the growth of the market. However, increasing raw material prices and stringent government regulations for pad manufacturing and raw material are some major forces that impede the growth automotive brake pad market over the forecast period of 2019-2026.

The regional analysis of global Automotive brake pads market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the significant region across the world in terms of market share owing to growth of the vehicle manufacturing across the region and rising number of accidents has led the adoption of automotive brake pads across the region. Whereas, Asia-Pacific is anticipated to exhibit highest growth rate / CAGR over the forecast period 2019-2026. Factors such as growth of the vehicle manufacturing across the region and rising number of accidents would create lucrative growth prospects for the Automotive brake pads market across Asia-Pacific region.

Major market player included in this report are:

Federal-Mogul Corporation
Robert Bosch GmbH
TRW (acquired by ZF Friedrichshafen AG)
Nisshinbo Holdings Inc
MAT Holdings, Inc
ITT Corp
ATE
Honeywell International Inc.
ACDelco
Akebono Brake Corporation

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
Non-asbestos Organic Brake Pads
Low Metallic NAO Brake Pads
Semi Metallic Brake Pads
Ceramic Brake Pads
By End-Use:
Passenger Vehicles
Commercial Vehicles
By Region:
North America
U.S.
Canada
Europe
UK
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2016, 2017
Base year – 2018
Forecast period – 2019 to 2026

Target Audience of the Global Automotive brake pads Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors