Market Research Report

The US Automotive Brake Pad Market Research Report: Forecast (2022-27)

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 (HC...V)), By Demand Type (OEM, Aftermarket), By Region (North East, Mid-West, West, South), By Company (Brake Parts Inc LLC., MAT Holdings Inc., Bosch, ACDelco, Wagner, Ferodo, Muller Brakes, Brembo, Akebono Brake Industry Co. Ltd., EBC Brakes, Others) Read more

  • Automotive
  • Aug 2022
  • 113
  • AT22019

Market Definition

Brake pads are the most crucial components of the automotive braking system present in the brake caliper, which, when brakes are applied, pushes them against the rotor to slow the wheel's rotation and stop the vehicle. With the growing passenger safety concerns and the mounting need for efficient braking at high speeds, brake pads with a higher coefficient of friction are witnessing an increasing demand across the US.

Market Insights

The US Automotive Brake Pad Market is expected to grow at a CAGR of around 4% during the forecast period, i.e., 2022-27. The growth of the market is in direct proportion to the automotive sector & is driven mainly by mounting vehicle sales across the US due to the high purchase power of consumers, coupled with massive investments by both the government & private firms in the automotive industry. It, in turn, is leading to rapidly surging automobile manufacturing across the country to cater to the growing end-user requirements and thus driving the demand for automotive brake pads.

Report Coverage Details
Study Period Historical Data: 2017-20
Base Year: 2021
Forecast Period: 2022-27
CAGR 4%
Region Covered North East, Mid-West, West, South
Key Companies Profiled Brake Parts Inc LLC., MAT Holdings Inc., Bosch, ACDelco, Wagner, Ferodo, Muller Brakes, Brembo, Akebono Brake Industry Co. Ltd., EBC Brakes, Others
Unit Denominations USD Million/Billion

 

The rapid urbanization, soaring population levels, and significant infrastructure developments in the US are augmenting the production & sales of passenger & commercial vehicles that involve rigorous usage of brakes and, in turn, require frequent replacements of brake pads.

Different automobile manufacturers are actively working on bringing new features & technologies into their product offerings in order to attain a larger consumer base and expand their business footprints, i.e., another prominent aspect contributing to the growth of the automotive brake pad market in the US.

Since the life run of different brake system components is limited to specific miles, brake pad replacements are surging in the US. More and more commercial vehicles are being deployed with disc brakes, and there are growing instances of road collisions leading to high fatality counts. As a result, the strict norms for passenger safety imposed by the US government & concerned authorities are further propelling the growth of the brake pad industry.

  • NHTSA (National Highway Traffic Safety Administration) of the US transportation department and various automakers have signed an agreement to equip almost all new passenger vehicles with low-speed AEB (Automatic Emergency Braking) systems, including 'forward collision warning,' by August 31, 2023. This initiative could help prevent or reduce the severity of collisions while lowering injury risks.

In line with this, companies like Audi, BMW, Hyundai, Mercedes-Benz, Tesla, Toyota, Volkswagen, & Volvo had already equipped almost all new passenger vehicles with Abs in 2020. On the other hand, in the same year, Ford, Honda, Kia, & Nissan had installed AEB in more than 75% of their passenger vehicles.


The US Automotive Brake Pad Market Research Report: Forecast (2022-27)

Latest Trends in the US Automotive Brake Pad Market

Ceramic brake pads are emerging as the future of the automotive braking system. Ceramic-composite brakes comprise real ceramic-infused rotors & pads with great friction coefficient, enhanced heat-bearing capacity, ultralight weight, & no corrosion tendencies.

These benefits ensure their longer life, better vehicle handling, & improved fuel economy. Their prime use so far has been observed only in high-end sports vehicles. The only downside associated with them is their expensive manufacturing. Hence, once costs come down, increased deployment of ceramic brake pads in mass automobiles is likely.

Nevertheless, existing compounds used in automotive braking systems shall continue evolving with longer lives & enhanced operating temperature ranges. Silicon-based resins with increased stability for high temperatures shall subside the use of phenol-formaldehyde, the current bonding resin for brake pad materials. On the other hand, regenerative braking, where brake energy aids in recharging the battery system of Electric Vehicles, might further add revolutionary changes to brake systems in the nearer future.

Market Segmentation

Based on Material Type:

  • Semi-Metallic
  • Non-Asbestos Organic (NAO)
  • Low-Metallic & Ceramic

Of these three, semi-metallic, followed by NAO (Non-Asbestos Organic), is the major shareholder in the US Automotive Brake Pad Market, owing to its overall robustness, excellent heat & wear resistance, and affordable prices. Brake pads with semi-metallic friction materials are sturdy, diverse, and suited best for high-performance or heavy vehicles, as they comprise either sintered graphite, iron, or steel, which, in turn, provides excellent breaking even at high temperatures.

However, since semi-metallic brake pads have a lower coefficient of friction, more pedal power is required at low temperatures as the brakes are cold. Moreover, as they have around 65% metal, they are noisier while operating and wear down the rotors relatively quicker than other brake pad types.

As a result, NAO is a prominent alternative to semi-metallic brake pads across the US. These brake pads have high-temperature resins, and the newer ones even include Kevlar & cellulose. They are relatively softer & quieter than semi-metallic brake pads and are easy on disc rotors. However, they wear down easily and thus are suited only for daily driving & not high-performance race cars.

Based on Vehicle Type:

  • Passenger Cars
  • Light Commercial Vehicles (LCVs)
  • Heavy Commercial Vehicles (HCVs)

Here, passenger cars are likely to witness significant growth in the US Automotive Brake Pad Market through 2027. It owes principally to the rising consumer interest in private ownership of vehicles, coupled with substantial investments by premium & luxury automakers in developing high-end products, including brake systems with improved sensor technologies, to prevent vehicle skidding or slipping at the time of sudden braking. As a result, the burgeoning production & sales of passenger vehicles is directly impacting the demand for automotive brake pads in the US.

On the other hand, the demand for brake pads for heavy commercial vehicles will observe substantial growth in the market. It owes to the rapidly expanding transportation, logistics, construction, and e-commerce sectors in the US, i.e., leading to ever-increasing requirements for heavy commercial vehicles with excellent braking performance at high speeds and thus contributing to the expansion of the US Automotive Brake Pad Market.

Market Dynamics

Key Drivers: Rising Automobile Production, Increasing Safety Concerns among Vehicle Owners, and Frequent Part Replacements

The improving economy of the US has led to a significant rise in the disposable incomes of consumers. Hence, their surging inclination toward private vehicle ownership has boosted vehicle sales in the country in recent years and, as a result, directly impacted the automotive brake pad industry.

On the other hand, the rapidly rising safety concerns among consumers due to increasing road accidents & casualties have instigated the US government to impose stringent rules for automakers to equip their vehicle fleet with advanced brake components. Thus, it is another prominent aspect contributing to the mounting sales of automotive brake pads in the country.

Nevertheless, rapid industrialization has led to a significant rise in trade activities across the US. Hence, more miles driven by commercial vehicles are leading to the early wear & tear of brake components. As a result, frequent brake pad replacements are augmenting the market expansion.

Growth Restraint: High Maintenance & Repair Costs of Brake Components 

Advancements in vehicles have indeed enabled more engine power. As a result, ESC (Electronic Stability Control), TC (Traction Control), & EBS (Electronic Brake Force Distribution) have emerged as state-of-the-art braking technologies to provide vehicle owners with more efficient braking, especially at high speeds. These developments in braking systems that involve expensive research, along with high maintenance & repair costs, are acting as key growth constraints for the US Automotive Brake Pad Market.

Key Questions Answered in the Market Research Report:

  1. What are the overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares) of the US Automotive Brake Pad Market?
  2. What are the region-wise size, growth drivers, and challenges for the US Automotive Brake Pad Market?
  3. What are the key innovations, opportunities, current & future trends, and regulations in the US Automotive Brake Pad Market?
  4. Who are the key competitors, their key strengths & weaknesses, and how do they perform in the US Automotive Brake Pad Market based on the competitive benchmarking matrix?
  5. What are the key results derived from surveys conducted during the US Automotive Brake Pad Market study?

Frequently Asked Questions

   A. The US Automotive Brake Pad Market is expected to record around 4% CAGR during 2022-27.

   A. The rapidly increasing vehicle sales and stringent government regulations for automakers to deploy high-end braking technologies in their vehicles owing to increasing road accidents & fatalities are driving the US Automotive Brake Pad Market. On the other side, the high maintenance & repair costs of advanced brake components, including brake pads, are the prime growth restraints to the expansion of the automotive brake pad industry in the US.

   A. The increasing deployment of disk braking systems in commercial vehicles is projected to create remunerative growth opportunities for the leading companies in the US Automotive Brake Pad Market during 2022-27.

  1. Market Segmentation
  2. Introduction
    1. Product Definition
    2. Research Process
    3. Assumptions
  3. Preface
  4. Executive Summary
  5. Impact of COVID-19 on the US Automotive Brake Pad Market
  6. The US Automotive Brake Pad Market Trends & Insights
  7. The US Automotive Brake Pad Market Dynamics
    1. Growth Drivers
    2. Challenges
  8. The US Automotive Brake Pad Market Hotspot & Opportunities
  9. The US Automotive Brake Pad Market Policies and Regulations
  10. The US Automotive Brake Pad Market Supply Chain Analysis
  11. The US Automotive Brake Pad Market Outlook 2017- 2027F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Units Sold (Thousand Units)
    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 Region
        1. North East
        2. Mid-West
        3. West
        4. South
      5. By Company
        1. Competition Characteristics
        2. Volume Shares
  12. The US Passenger Car Brake Pad Market Outlook, 2017- 2027F
    1. Market Size & Analysis
      1. By Revenues
      2. By Units Sold
    2. Market Share & Analysis
      1. By Vehicle Type
        1. SUV
        2. Sedan
        3. Hatchback
        4. Multipurpose Vehicle (MPV)
      2. By Material Type
      3. By Demand Type
  13. The US Light Commercial Vehicle (LCV) Brake Pad Market Outlook, 2017-2027F
    1. Market Size & Analysis
      1. By Revenues
      2. By Units Sold
    2. Market Share & Analysis
      1. By Vehicle Type
        1. Light Trucks
        2. Light Buses
        3. Pick-up Trucks and Vans
      2. By Material Type
      3. By Demand Type
  14. The US Heavy Commercial Vehicle (HCV) Brake Pad Market Outlook, 2017-2027F
    1. Market Size & Analysis
      1. By Revenues
      2. By Units Sold
    2. Market Share & Analysis
      1. By Vehicle Type
        1. Semi-Trailer Trucks
        2. Extra Duty Trucks
        3. Tanker Trucks
        4. Garbage Trucks
        5. Dump Trucks
        6. Buses
        7. Others (Haulage Trucks, Trailer Trucks, etc.)
      2. By Material Type
      3. By Demand Type
  15. The US Automotive Brake Pad Market Key Strategic Imperatives for Success & Growth
  16. Competition Outlook
    1. Competition Matrix
      1. Product and Services Portfolio
      2. Brand Specialization
      3. Target Markets
      4. Target End Users
      5. Research & Development
      6. Strategic Alliances
      7. Strategic Initiatives
    2. Company Profiles (Business Description, Product and Services Segments, Business Segments, Financials, Strategic Alliances/ Partnerships, Future Plans)
      1. Brake Parts Inc LLC.
      2. MAT Holdings Inc.
      3. Bosch
      4. ACDelco
      5. Wagner
      6. Ferodo
      7. Muller Brakes
      8. Brembo
      9. Akebono Brake Industry Co. Ltd.
      10. EBC Brakes
      11. Others
  17. Disclaimer


US Automotive Brake Pad Market Segmentation