Mexico Automotive Brake Pad

Mexico Automotive Brake Pad Market Research Report: Forecast (2022-2027)

By Material Type (Semi-Metallic, Non-Asbestos Organic (NAO), Low-Metallic and Ceramic), By Vehicle Type (Passenger Car, Light Commercial Vehicle (LCV), Heavy Commercial Vehicle (HCV)), By Demand Type Read more

  • Automotive
  • Dec 2021
  • 167
  • AT10218

Market Definition

Brake pads in vehicles, amongst the most crucial components of the braking system, are responsible for vehicle safety & smoother halt. The effectiveness of brake pads depends entirely on the friction materials used in them. With the growing passenger safety concerns & mounting need for enhanced braking at high speeds across Mexico, the demand for brake pads with minimum wear & tear and a high coefficient of friction is rising substantially.

Market Insights

The Mexico Automotive Brake Pads Market is projected to grow at a CAGR of around 3.7% during the forecast period, i.e., 2022-27. Mexico is a hub of automotive manufacturing and has always witnessed a continuous flow of brake pad production & supply. Besides, the country is a prominent vehicle exporter for neighboring countries like Brazil, the US, & Canada, coupled with some European nations.

Report Coverage Details
Study Period Historical Data: 2017-20
Base Year: 2021
Forecast Period: 2022-27
CAGR (2022-2027) 3.7%
Key Companies Profiled Bosch Group, Wagner, ACDelco, Brembo, Akebono Brake Mexico S.A. de C.V., Ferodo, Abex, Sangsin Brake Mexico, Woking Brakes, FRAS-LE
Unit Denominations USD Million/Billion

 

According to the US International Trade Administration, Mexico is the sixth-largest passenger car manufacturer across the globe, on an average of producing approximately 3 million vehicles every year.

Moreover, the country has been exporting passenger cars to the US for several years, implying its significant market for brake pads during the historic period. Nonetheless, with the growing inclination toward electric vehicles, the demand for brake pads shall further accelerate in the coming years.

The presence of prominent manufacturers like General Motors (GM) and its constant participation in producing vehicles has played a crucial role in boosting the brake pads market across Mexico.

In 2021, GM announced its plan of investing around USD 1 Billion for electric vehicle manufacturing across the country and would commence operations by 2023, in line with its aim to only offer electric vehicles, by 2035. 

Covid-19 Severely Impacted the Mexico Automotive Brake Pads Market

The Covid-19 pandemic in 2020 had an unprecedented effect on Mexico’s automotive industry, owing to which the government had to take stringent actions to curb the virus spread. Like most verticals, the Mexico Automotive Brake Pad Market also observed a direct effect of the pandemic. The strict movement restrictions & lockdown imposition led to a sudden shut down of brake pad manufacturing units, which, in turn, significantly hampered production & supplies.

Besides, travel bans further put a temporary halt on logistics & transportation, which hindered the distribution of brake pads. Moreover, the halted supply chain also brought delays & cancellation of import & export of raw materials & finished goods and introduced massive financial losses to the market players.

However, with the ease of restrictions, the government allowed the commencement of production & distribution of brake pads. Additionally, in this phase of financial uncertainty, the government took several initiatives to swiftly enhance the country's vehicle manufacturing sector, owing to its high reliance on production & exports to other nations.

  1. Introduction
    1. Product Definition
    2. Research Process
    3. Assumptions
    4. Market Segmentation
  2. Preface
  3. Executive Summary
  4. Impact of COVID-19 on Mexico Automotive Brake Pad Market
  5. Mexico Automotive Brake Pad Market Government Regulations and Policies
  6. Mexico Brake Pad Market Trends & Insights
  7. Mexico Automotive Brake Pad Market Dynamics
    1. Growth Drivers
    2. Challenges
    3. Impact Analysis
  8. Mexico Automotive Brake Pad Market Hotspot & Opportunities
  9. Mexico Automotive Brake Pad Market Outlook, 2017-2027F
    1. Market Size & Analysis
      1. Market Revenues
      2. Unit Sold
    2. Market Share & Analysis
      1. By Material Type
        1. Semi-Metallic
        2. Non-Asbestos Organic (NAO)
        3. Low-Metallic and Ceramic
      2. By Vehicle Type
        1. Passenger Car
        2. Light Commercial Vehicle (LCV)
        3. Heavy Commercial Vehicle (HCV)
      3. By Demand Type
        1. OEM
        2. Aftermarket
      4. By Competitors
        1. Competition Characteristics
        2. Market Share & Analysis
        3. Competitor Placement in MarkNtel Quadrant
  10. Mexico Passenger Car Brake Pad Market Outlook, 2017-2027F
    1. Market Size & Analysis
      1. Market Revenues
      2. Unit Sold
    2. Market Share & Analysis
      1. By Type
        1. SUV
        2. Sedan
        3. Hatchback
        4. Multipurpose Vehicle (MPV)
      2. By Material Type
        1. Semi-Metallic
        2. Non-Asbestos Organic (NAO)
        3. Low-Metallic and Ceramic
      3. By Demand Type
        1. OEM
        2. Aftermarket
  11. Mexico LCV Brake Pad Market Outlook, 2017-2027F
    1. Market Size & Analysis
      1. Market Revenues
      2. Unit Sold
    2. Market Share & Analysis
      1. By Type
        1. Light Truck
        2. Light Buses
        3. Pick-Up Trucks & Vans
      2. By Material Type
        1. Semi-Metallic
        2. Non-Asbestos Organic (NAO)
        3. Low-Metallic and Ceramic
      3. By Demand Type
        1. OEM
        2. Aftermarket
  12. Mexico HCV Brake Pad Market Outlook, 2017-2027F
    1. Market Size & Analysis
      1. Market Revenues
      2. Unit Sold
    2. Market Share & Analysis
      1. By Type
        1. Semi-Trailer Trucks
        2. Extra Duty Trucks
        3. Tanker Trucks
        4. Garbage Trucks
        5. Dump Trucks
      2. By Material Type
        1. Semi-Metallic
        2. Non-Asbestos Organic (NAO)
        3. Low-Metallic and Ceramic
      3. By Demand Type
        1. OEM
        2. Aftermarket
  13. Mexico Automotive Brake Pad Market Key Strategic Imperatives for Success & Growth
  14. Competition Outlook
    1. Competition Matrix
      1. Research & Development
      2. Collaborations & Strategic Alliances
      3. Key Business Expansion Initiatives
      4. Business Restructuring- Mergers, Acquisitions, JVs
      5. Strategic Initiatives
    2. Company Profiles (Business Description, Product Segments, Business Segments, Financials, Strategic Alliances/ Partnerships, Future Plans)
      1. Bosch Group
      2. Wagner
      3. ACDelco
      4. Brembo
      5. Akebono Brake Mexico S.A. de C.V.
      6. Ferodo
      7. Abex
      8. Sangsin Brake Mexico
      9. Woking Brakes
      10. FRAS-LE
  15. Disclaimer
*This field is required