The Mexico Automotive Brake Pads Market is expected to grow at a CAGR of 3.7% in the forecast period of 2022-27, says MarkNtel Advisors in their research report. The market is driven primarily by the growing number of automotive companies setting up various vehicle manufacturing units in Mexico.
In addition, the increasing number of online platforms for brake pads & other automotive parts & services has also displayed a rise in brake pad sales, and the same trend is likely to be followed in the coming years. Other prominent factors like increasing road safety concerns, growing awareness among people regarding advanced braking systems with less friction & weight, and soaring need for safe & smooth rides shall also drive the market over the forecast years.
According to the research report, the Mexico Automotive Brake Pads Market, based on Vehicle Type, segments into:
Of them all, Passenger Cars are anticipated to demonstrate significant market growth in the forecast period. It owes principally to the massive investments by several premium & luxury car manufacturers in developing advanced products with improved features, coupled with the rising demand for passenger vehicles, i.e., leading to their substantially increasing production & sales with a direct impact on the automotive brake pads market in Mexico. Nevertheless, continuous advancements in passenger vehicles to avoid vehicle skidding/slipping when sudden braking is applied shall also drive the market around the Passenger Car segment in the coming years, reveals MarkNtel Advisors in their research report, “Mexico Automotive Brake Pads Market Analysis, 2022.”
Key Market Competitors
According to MarkNtel Advisors, the leading players in the Mexico Automotive Brake Pads Market are Bosch Group, Wagner, ACDelco, Brembo, Akebono Brake Mexico S.A. de C.V., Ferodo, Abex, Sangsin Brake Mexico, Woking Brakes, FRAS-LE.
Key Questions Answered in the Study
Mexico Automotive Brake Pad Market Segmentation:
Mexico Passenger Car Brake Pad Market Segmentations
Mexico LCV Brake Pad Market
Mexico HCV Brake Pad Market