Automotive Brake Pads Market Revenue Forecast 2022-2028 By Regional Manufacturers
Category: #business  By Rahul Varpe  Date: 2022-11-11
  • share
  • Twitter
  • Facebook
  • LinkedIn
Automotive Brake Pads Market Revenue Forecast 2022-2028 By Regional Manufacturers

The automotive brake pads market is anticipated to witness robust growth by 2028 owing to various advantageous features of the product, including excellent stopping power and ability to disperse heat. Additionally, shifting consumer preference towards low-noise and low-maintenance vehicles is set to further facilitate industry expansion over the forecast timeline.

Request for a sample copy of this report @ https://www.gminsights.com/request-sample/detail/1367

Recently, key participants have been expanding their presence in emerging economies to meet the growing need for automotive brake pads, which has been favorable for business growth. For instance, in October 2021, Akebono Brake Industry Co., Ltd., a major provider of brake products in the automotive space, stated that its products had been adopted by Lynk & Co, a top automotive brand owned by China-headquartered automotive leader Geely Auto Group. For the front wheels of the "05+" model, a high-performance SUV, Akebono agreed to supply 4-pot disc brake calipers and copper-free disc brake pads.

Similarly, in December 2021, Brembo SPA, the Italy-based manufacturer of automotive brake system, announced that it was chosen as the brake supplier for automotive giant Polaris' Slingshot R. The novel Slingshot R brake system consists of Brembo's four-piston all-aluminum brake calipers with 339 mm vented cast iron brake discs.

In another instance, in November 2020, Textar, a premium brake brand under Nisshinbo Holdings-subsidiary brake expert TMD Friction, expanded its aftermarket product range with the addition of brake discs for the Land Rover Discovery, Mercedes Benz E-Class 2016, Volkswagen Amork 2016, and Range Rover IV 2017.

Furthermore, government organizations have been taking initiatives to reduce emissions in light of mounting climate consciousness. As a result, this has spurred innovation and use of low-emission brake technology, aimed at mitigating the environmental footprint of the automotive sector, which has been favorable for the product landscape of the market.

The automotive brake pads market has been segmented on the basis of vehicle, material, sales channel, position, and region. Based on vehicle, the automotive brake pads market has been divided into passenger cars, LCV, HVC, and two-wheelers. The two-wheelers sub-segment is anticipated to expand at a substantial rate of more than 4.6% through the projection period.

In terms of material, the automotive brake pads market has been segregated into semi-metallic, non-asbestos organic (NAO), low-metallic NAO, and ceramic. The low-metallic NAO sub-segment held a market share of approximately 30% in 2021 and is expected to grow substantially through the review timeline.

Request for Customization @ https://www.gminsights.com/roc/1367

From the regional point of view, the Latin America automotive brake pads market is expected to grow at a CAGR of about 3.7% over the assessment period. Meanwhile, the Middle East & Africa automotive brake pads industry is projected to showcase significant growth at around 4.1% CAGR through the forecast period.

  • share
  • Twitter
  • Facebook
  • LinkedIn

About Author

Rahul Varpe

Rahul Varpe    

Rahul Varpe currently writes for Technology Magazine. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products ...

Read More >>

More News By Rahul Varpe

Construction Site Preparation Equipment Market : Global Key Players, Trends, Share, Industry Size, Segmentation, Opportunities, Forecast
Construction Site Preparation Equipment Market : Global Key Players, Trends, Share, Industry Size, Segmentation, Opportunities, Forecast
By Rahul Varpe

The construction site preparation equipment market is expected to grow substantially by 2028 on account of rising number of public infrastructure development projects worldwide. In addition, increasing investments towards R&D activities from manu...

Concrete Chain Saw Market Global Industry Analysis, By System, Growth Potential, Share, Top Key Players, Trends & Forecast
Concrete Chain Saw Market Global Industry Analysis, By System, Growth Potential, Share, Top Key Players, Trends & Forecast
By Rahul Varpe

The concrete chain saw market is slated to witness exponential growth by 2028 on account of the booming construction and building maintenance sector around the world. In addition, growing awareness regarding the benefits of using a concrete chainsaw ...

Stand Tile Saw Market Estimation, Global Share, Industry Outlook, Price Trend, Growth Opportunity and Top Regional Forecast
Stand Tile Saw Market Estimation, Global Share, Industry Outlook, Price Trend, Growth Opportunity and Top Regional Forecast
By Rahul Varpe

The stand tile saw market is poised to expand substantially by 2028 on account of burgeoning number of construction activities around the globe. In addition, rapid urbanization and rising consumer spending across key regions are likely to further pro...