Automotive Brake Pads Market Analysis

Vehicle Type (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles)

Passenger cars segment is estimated to dominate automotive brake pads market share of over 50% by 2037. The segment growth can be credited to the growing production of passenger vehicles and increasing safety concerns. According to estimates, more than 68 million passenger cars will be manufactured around the world by 2028. Furthermore, to improve the performance and longevity of the brake pad, the design and material of the brake pad have evolved over the years.

The ceramic or semi-metallic brake pad is used by the majority of new passenger cars, to ensure safety, performance, and maintenance of the vehicle, brake pad is a key component. The safety of the driver and passengers is not only ensured, but also contributes to a more effective and environment friendly vehicle by regularly maintaining and replacing brake pads. Therefore, altogether these factors are contributing to the market’s growth in this segment.

Material Type (Semi Metallic, Non-Asbestos Organic (NAO), Low-metallic, Ceramic)

Ceramic segment in the automotive brake pads market is estimated to exceed USD 4.35 Billion by the end of 2037. The ceramic brake pad is made from a combination of ceramic fibers, filler material, and a binding agent. The ceramic brake pad is highly durable and efficient at stopping a moving vehicle because of its unique composition. Ceramic brake pad has a higher melting point than traditional brake pads, which is made from organic materials such as rubber, carbon, and metal, and can withstand extreme temperatures without losing its effectiveness.

They are one of the most sought-after vehicles by vehicle manufacturers and drivers due to their ability to cope with high temperatures, durability, improvement in performance, low dust production, and environmental friendliness. Therefore, ceramic brake pads are estimated to continue to be a favorite choice in the automotive industry, due to increased demand for higher performance and safety vehicles.

Our in-depth analysis of the market includes the following segments: