Global Car Brake Pads Market Market Overview:
Brake pads are components of a vehicle's braking system that provide the friction needed to stop the car. It is an essential part of disc brakes used in automobiles. When the brakes are engaged, these pads press against the working disc to stop motion and slow the vehicle down. Brake pads are in the brake caliper, pushing against the rotor and helping convert the vehicle's kinetic energy into thermal energy. Growing vehicle sales across the globe are boosting the growth of the brake pads market.
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Increase in Awareness about Safety among Consumers As Well As Government Authorities
Market Growth Drivers:
Increasing Demand for Lightweight and Advanced Friction Materials and Rising Need for Eco-Friendly As Well As Sustainable Brake Pads
Increase in the Stringency in Regulations Related To Raw Material Quality
High Cost of Development for Brake Pads
Rising Technological Advancement in the Field of Car Brake Pads.
The car brake pads market is moderately consolidated due to the majority share held by the major players in the market. Some prominent players in the market are focusing on adopting strategies such as expansion, product development, etc. to improve their position in the market.
Some of the key players profiled in the report are Continental AG (Germany), Robert Bosch GmbH (Germany), ADVICS Co., Ltd. (Japan), Brake Parts Inc. (United States), Brembo S.p.A (Italy), Delphi Technologies (United Kingdom), Nisshinbo Brake Inc. (Japan), ZF Friedrichshafen AG (Germany), Akebono Brake Industry Co Ltd (Japan) and Tenneco Inc. (United States). Considering Market by Position, the sub-segment i.e. Front will boost the Car Brake Pads Market market. Considering Market by Vehicle Type, the sub-segment i.e. Passenger Cars will boost the Car Brake Pads Market market. Considering Market by Sales Channel, the sub-segment i.e. Aftermarket will boost the Car Brake Pads Market market. Considering Market by Material, the sub-segment i.e. Non-Asbestos Organic will boost the Car Brake Pads Market market.
Latest Market Insights:
In July 2022, Brembo and Gold Phoenix established a joint venture, Shandong BRGP Friction Technology Co. The new company combined Brembo's leading position in braking systems with Gold Phoenix's expertise in tribological solutions. Through this joint venture, the company aims to create a manufacturing plant dedicated to manufacturing aftermarket pads.
In November 2022 Brembo introduced GREENANCE brake pads. The new brake pads have improved heat resistance, providing the same performance at elevated temperatures, and are ECE-R90 approved. GREENANCE brake pads are also equipped with the NUCAP retention system.
What Can be Explored with the Car Brake Pads Market Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Car Brake Pads Market Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Car Brake Pads Market
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Car Brake Pads Market market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Car Brake Pads Market market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.