According to study, “World
Brake Pads Market Research Report 2024(Covering USA, EU, China, South
East Asia, Japan and etc)” the key companies operating in the world brake pads
market are Federal Mogul, Bosch, AKEBONO Group, TRW Automotive, ACDelco,
Nisshinbo Holdings, MK Kashiyama, MAT Holdings Inc., TMD Group, Delphi
Automotive PLC, FBK, ATE, Hitachi Chemical, Sumitomo, ICER, Sangsin Brake,
ADVICS, BREMBO, Nan Hoang Traffic Instrument, Hawk Performance, Util Group, EBC
Brakes, Fras-le, ABS Friction, Brake Parts Inc., Meritor, Metek GmbH, Shandong
Gold Phoenix Group, ITT Corporation, Shangdongxinyi Automobile Parts
manufacture, Double Link, Hunan BoYun Automobile Brake Materials, Hangzhou
FeiyingAutoparts, Hubei Sal-fer, Huahua Friction Materials, Zhongshan Safety,
Ningbo Allways Auto Parts, RizhaoZhongwei Automobile Part, Hubei Feilong
Friction & Sealing Materials, HangzhouHangcheng Friction Material. Key
manufacturers are engaged in developing products through advanced friction
material for superior vehicle control.
Brake pad is a component of braking system which
takes the brunt of frictional force necessary to stop the mechanical or vehicle
equipment. It is generally composed of bonding & preventing heat layer,
steel plate, and friction block. The bonding layer is made of insulation
material, on purpose of preventing heat. Friction block is composed of bonding
material and friction material, which produces friction squeezed on brake
rotor. Brake pad converts kinetic energy of the vehicle to thermal energy
through friction. It is used in automobile, subway, train, airplane, industry
and etc.
Based on product type, brake pads market is
segmented into drum brake, disc brake pads and others. Based on vehicle type,
market is segmented into passenger vehicles, commercial vehicles and
two-wheelers. Based on material, market is segmented into low metallic NAO
brake pads, non-asbestos organic brake pads, ceramic brake pads and semi
metallic brake pads.Based on position type, market is segmented into front
& rear and front. Based on sales channel, market is segmented into vehicle
aftermarket industry and vehicle OEM industry. In addition, based on
application, market is segmented into railway brake pads, automotive brake pads
and others.
The brake pads market is driven by rise in
installation of disc brakes in automobiles for superior braking efficiency,
followed by increase in vehicle production, rise in demand for low noise brake
system, technological up-gradation for development of lightweight & environment
friendly braking system, increase in awareness regarding personal safety and
growth in government initiatives. However, increase in raw material prices and
lack of operating temperature range may impact the market. Moreover, growth in
development of organic fibers to meet emission regulations and continuous
advancements in braking systems are key opportunities for market.
Based on geography, USA country holds major share in
brake pads market owing to rise in government directives for disc braking
system and growth in regulations pertaining to manufacturing & installation
of disc brakes in the country. China country is expected to witness higher
growth rate due to growth in consumer focus on vehicle safety & performance
and increase in vehicle ownership over the forecast period. It is projected
that future of the market will be bright on account of rise in technological
advancements during the forecast period. The worldwide market is estimated to
grow at a CAGR of approximately 1.5% over the next five years, will reach US
$11300 million in 2024, from US $10500 million in 2019.
For more information on the research
report, refer to below link:
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