Automotive brake pads market is anticipated to grow at a considerable CAGR of 8.2% during the forecast period (2024-2031). Automotive brake pads are components that create friction against brake discs when you press the brake pedal, slowing down or stopping the vehicle and are made of materials like organic compounds, semi-metallic compounds, or ceramics.
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The increase in demand for vehicles globally is driven by factors such as population growth, rising urbanisation, improving economic conditions in many regions, and increasing consumer purchasing power. As more people have access to disposable income, there’s a greater desire for personal mobility and convenience, leading to higher vehicle ownership rates and the demand for automotive brake pads also rises correspondingly, as these are essential components for vehicle safety and maintenance, contributing to the growth of the global automotive brake pads market. Additionally, advancements in automotive technology and the introduction of stricter safety regulations further stimulate demand for high-quality brake pads to ensure optimal braking performance and compliance with safety standards. For instance, in April 2023, SKF introduced an innovative line of brake pads, offering advanced performance with ceramic components designed to minimize dust, extend service life, and deliver superior noise control that incorporates a unique thermal treatment process known as scorching, enhancing the coefficient of friction for improved braking efficacy across diverse road conditions.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global Automotive Brake Pads Market by Material Type
- Semi-metallic
- Non-asbestos
- Low-metallic
- Ceramic Brake Pads
Global Automotive Brake Pads Market by Vehicle Type
- Passenger Cars
- Light Commercial Vehicles (LCV)
- Heavy Commercial Vehicles (HCV)
- Two Wheelers
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- ADVICS Co., Ltd.
- Bosch Ltd.
- Brake Parts Inc. LLC.
- Continental AG
- DRiV Automotive Inc. (DRiV Incorporated)
- Dynamic Friction Co.
- EBC Brakes
- HELLA GmbH & Co. KGaA
- Hitachi Astemo, Ltd.
- ITT Inc.
- Maruti Suzuki India Ltd.
- Masu Brakes
- Nisshinbo Brake Inc.
- SKF
- Tenneco Inc.
- TMD
- TOMEX Brakes sp. z o.o.sp.k.
- Webb Wheel Products, Inc.
The Report Covers
- Market value data analysis of 2023and forecast to 2031.
- Annualised market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global automotive brake padsmarket. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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