Automotive Brake Pad Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Global Automotive Brake Pad Market Size & Manufacturers and it is segmented by Material Type (Semi-Metallic, Non-Asbestos Organic, Low-Metallic, and Ceramic), Position type (Front and Rear), Sales Channel (OEM and Aftermarket), Vehicle Type (Passenger Cars and Commercial Vehicles), Geography (North America, Europe, Asia-Pacific, and Rest of the world). The report offers market size and forecasts for the Automotive brake pad market in value (USD) for all the above segments.

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Automotive Brake Pad Market Size

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Automotive Brake Pad Market Summary
Study Period 2019-2029
Market Size (2024) USD 17.19 Billion
Market Size (2029) USD 20.28 Billion
CAGR (2024 - 2029) 3.25 %
Largest Market Asia-Pacific
Market Concentration Medium

Major Players

Automotive Brake Pad Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Automotive Brake Pad Market Analysis

The Automotive Brake Pad Market size is estimated at USD 17.19 billion in 2024, and is expected to reach USD 20.28 billion by 2029, growing at a CAGR of 3.25% during the forecast period (2024-2029).

The automotive brake pad market is experiencing dynamic growth and transformation, driven by a combination of factors, including changing consumer preferences, increasing vehicle production, and the growing focus on vehicle safety. The growth of the market depends on several factors, such as the rise in demand for lightweight and advanced friction materials, such as ceramic and asbestos organic composites, the rising number of product launches, increasing awareness regarding passenger and pedestrian safety and increasing safety regulations by the government.

Furthermore, rapid urbanization, traffic congestion, and the growing demand for high-performance vehicles are propelling the demand for passenger and electric vehicles (EVs). The proliferation of electric vehicles is presenting opportunities for brake pad manufacturers to develop specialized solutions tailored to the unique requirements of regenerative braking in EVs. This surge in demand for automobiles, in turn, augments the brake pad market.

Moreover, the growing focus by the premium and luxury car manufacturers to manufacture new products with enhanced features and growing demand for passenger car sales in developed nations is further expected to drive the automotive brake pads market growth during the forecast period. Industry players are frequently launching new products with customized braking designs for trucks and SUVs is expected to accelerate the market growth during the forecast period. However, increases in the prices of raw materials and stringent regulations such as toxic substances control are likely to restrain the market's growth.

The Asia-Pacific region is projected to dominate the market due to the increasing sales of vehicles, as well as an uptick in disposable income among consumers. This is further bolstered by the availability of inexpensive labor and raw materials in emerging economies throughout the forecast period. China and India serve as catalysts for growth within the region, as they contribute to the rising demand for the product. China, in particular, is anticipated to emerge as a major player in the industry due to a surge in serious accidents and an expanding fleet, which is expected to further contribute to the growth of the business.

Automotive Brake Pad Market Trends

Passenger Car is the Leading Segment in the Market

The passenger car segment is the largest segment in the automotive brake pad market, driven by factors like increasing volume of passenger cars, changing consumer preferences towards vehicle upgradation, technological advancement in braking systems, etc. among others.

Further, the huge volume of passenger cars on the roads contributes directly to the demand for brake pads. In 2022, 57.49 million units of passenger cars were sold globally, as compared to 56.44 million units in 2021, registering an year-on-year growth of about 1.9 percent. With the increase in passenger car production and sales and the anticipation of greater adoption of electric vehicles across the globe, there will be surge in demand for advanced automotive brake pad products with higher durability and greater heat dissipation capability in the coming years. 

Additionally, stringent safety regulations and increasing consumer awareness regarding vehicle safety also drives the market. Being the most widely used personal mode of transport for individuals as well as for families, passenger cars are prone to accidents, and thus are subject to strict safety norms. Government in many regions gave introduced mandatory regulations regarding braking system in cars. For instance,

  • In July 2023, the NHTSA proposed a new Federal Motor Vehicle Safety Standard to require automatic emergency braking systems including pedestrian AEB on light vehicles. The NHTSA projects that this proposed rule would save at least 360 lives a year and reduce injuries by at least 24,000 annually.

Additionally, the rising investments from premium and luxury car manufacturers to develop new products with advanced features, coupled with the increasing demand for passenger cars in developed nations, are compelling the key market players to invest in research and development to introduce advanced materials and designs that enhance the durability, performance, and safety of brake pads. For instance, 

  • In August 2023, Totachi Industrial Co. Ltd., based in Japan, expanded its comprehensive solution by initiating the manufacturing of brake pads. The latest addition to their product lineup encompasses brake pads designed for passenger cars across diverse brands. These brake pads are meticulously crafted to serve as original equipment manufacturer (OEM) products, guaranteeing exceptional quality. 

Hence, the passenger car segment is expected to witness significant growth during the forecast period.

Automotive Brake Pad Market: Global Passenger Car Sales, in Units, 2019-2022

Asia Pacific to be the most Potential Market

Globally, Asia-Pacific is the most dominant region in the market, followed by Europe and North America. Asia-Pacific is likely to possess the highest growth rate, with countries like China, India, Japan, and South Korea expected to contribute significantly to the growth in terms of revenue in the global anti-lock braking system due to safety norms and firm government regulations.

China is expected to emerge as one of the major regions, owing to its largest automotive market in the world. China was the world's largest regional market for automobiles in 2022, accounting for over 23.6 million units sales alone. This growth directly influences the demand for brake pads, as each vehicle requires this essential component. Also, the automotive industry in China is evolving, and so is the brake pad technology.

Noise reduction, extended pad life, and enhanced braking performance are crucial features. In urban environments where noise pollution is a concern, low-noise brake pads are highly sought after. The brake pad market in China is highly competitive, with both local and international players vying for market share. Multiple key market players are making substantial investments to establish new production facilities within the country. For instance,

  • In June 2023, Tenneco, a U.S. supplier, set its sights on boosting revenue from its brake parts business in China by focusing on local manufacturers of electrified vehicles, which also drive the brake pad market in the country.

Moreover, the growing vehicle production and sales in the automotive sector in India makes it a potential market for brake pads. The aftermarket segment plays a substantial role in the Indian brake pad market. Regular brake pad replacement is essential for road safety and vehicle maintenance, which fuels aftermarket sales. Numerous players in the market are investing heavily in setting up new production units in the country to meet the rising demands for local and international markets and enhance their profitability and market share. For instance,

  • In March 2023, Brakes India, a Tier-1 supplier to both Indian and global OEMs, introduced ZAP brake pads featuring advanced friction technology tailored for electric vehicles. These specialized brake pads are designed to meet the unique needs of electric vehicle customers, providing improved corrosion protection and ensuring quieter braking.

On the back of such development across the region, the demand for automotive brake pads is likely to grow at a decent rate during the forecast period.

Automotive Brake Pad Market - Growth By Region (2023 - 2028)

Automotive Brake Pad Industry Overview

The automotive brake pad market is primarily dominated by key players such as ITT Inc., Brembo S.p.A., ADVICS, Beijing Delphi Wanyuan Engine Management Systems Co., Ltd., BorgWarner Shanghai Automotive Fuel Systems Co., Ltd., Robert Bosch GmBH, Delphi Technologies, Tenneco Inc., Akebono Brake Company, and EBC Brakes, among others. This market exhibits moderate consolidation due to the presence of a select few manufacturing companies.

These market leaders are heavily investing in research and development to integrate state-of-the-art technology into their products, consistently introducing upgraded offerings to maintain their competitive edge. 

  • For instance, in March 2023, Brakes India introduced ZAP brake pads, leveraging superior friction technology specifically designed for electric vehicles. These pads not only offer better corrosion protection but also ensure silent braking, catering directly to the needs of battery-powered

Automotive Brake Pad Market Leaders

  1. Brembo S.p.A.

  2. Akebono Brake Company

  3. Tenneco Inc.

  4. ITT Inc.

  5. Nisshinbo Brake Inc

*Disclaimer: Major Players sorted in no particular order

Automotive Brake Pad Market Concentration
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Automotive Brake Pad Market News

  • October 2023: The joint venture between Brembo and SGL Carbon revealed two cutting-edge production facilities for their high-performance Brembo SGL Carbon Ceramic Brakes (BSCCB). These state-of-the-art halls, totaling around 8,500 square meters, are set to be completed by October 2024, marking the anticipated commencement of production in January 2025. This expansion is expected to create approximately 80 new job opportunities, a move that will significantly strengthen the automotive industry.
  • September 2023: Brembo S.p.A announced a strategic initiative to address the soaring demand for carbon ceramic brake discs in both passenger cars and commercial vehicles. As part of this strategy, the joint venture, Brembo SGL Carbon Ceramic Brakes (BSCCB), committed an impressive EUR 150 million (USD 169.5 million) investment by 2027. This substantial financial injection will enable a remarkable 70% expansion in production capacities across their Meitingen, Germany, and Stezzano, Italy facilities.
  • May 2023: Robert Bosch GmbH launched the new Elite brake pads specifically tailored for the TVS Apache. These cutting-edge pads boast a stripe-coating infused with the proprietary ABRACOAT technology.

Automotive Brake Pad Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

      1. 4.1.1 Advancements in Brake Pad Materials and Technologies

    2. 4.2 Market Restraints

      1. 4.2.1 The Brake Pad Market is Influenced by the Cost of Raw Materials

    3. 4.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Material Type

      1. 5.1.1 Semi-Metallic

      2. 5.1.2 Non-Asbestos Organic

      3. 5.1.3 Low-Metallic

      4. 5.1.4 Ceramic

    2. 5.2 By Position Type

      1. 5.2.1 Front

      2. 5.2.2 Rear

    3. 5.3 By Sales Channel Type

      1. 5.3.1 Original Equipment Manufacturers (OEMs)

      2. 5.3.2 Aftermarket

    4. 5.4 By Vehicle Type

      1. 5.4.1 Passenger Cars

      2. 5.4.2 Commercial Vehicles

    5. 5.5 Geography

      1. 5.5.1 North America

        1. 5.5.1.1 United States

        2. 5.5.1.2 Canada

        3. 5.5.1.3 Rest of North America

      2. 5.5.2 Europe

        1. 5.5.2.1 Germany

        2. 5.5.2.2 United Kingdom

        3. 5.5.2.3 France

        4. 5.5.2.4 Italy

        5. 5.5.2.5 Spain

        6. 5.5.2.6 Rest of Europe

      3. 5.5.3 Asia-Pacific

        1. 5.5.3.1 India

        2. 5.5.3.2 China

        3. 5.5.3.3 South Korea

        4. 5.5.3.4 Japan

        5. 5.5.3.5 Rest of Asia-Pacific

      4. 5.5.4 Rest of the world

        1. 5.5.4.1 South America

        2. 5.5.4.2 Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles*

      1. 6.2.1 Brembo S.p.A.

      2. 6.2.2 Nisshinbo Brake Inc

      3. 6.2.3 ITT Inc.

      4. 6.2.4 Robert Bosch GmBH

      5. 6.2.5 Tenneco Inc.

      6. 6.2.6 Akebono Brake Company

      7. 6.2.7 Beijing Delphi Wanyuan Engine Management Systems Co., Ltd.

      8. 6.2.8 ADVICS

      9. 6.2.9 EBC Brakes

      10. 6.2.10 BorgWarner Shanghai Automotive Fuel Systems Co., Ltd.

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Rising Demand For Environmentally Friendly Brake Pads

**Subject to Availability
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Automotive Brake Pad Industry Segmentation

Brake pads are a key part of the brake system. These are the components that contact and apply pressure and friction to a vehicle's brake rotors. Brake pads are composed of steel backing plates with friction material bound to the surface that faces the disc brake rotors. The scope of the report offers details on the latest trends, developments, and technologies in the market.

The automotive brake pad market has been segmented based on material type, position type, sales channel, vehicle type, and geography. By material type, the market is segmented into semi-metallic, non-asbestos organic, low-metallic, and ceramic. By position type, the market is segmented into front and rear. By sales channel, the market is segmented into original equipment manufacturers (OEMs) and aftermarket. By vehicle type, the market is segmented into passenger cars and commercial vehicles. By geography, the market is segmented into North America, Europe, Asia-Pacific, and the rest of the world.

The report offers market size and forecasts for the automotive brake pad market in value (USD) for all the above segments.

By Material Type
Semi-Metallic
Non-Asbestos Organic
Low-Metallic
Ceramic
By Position Type
Front
Rear
By Sales Channel Type
Original Equipment Manufacturers (OEMs)
Aftermarket
By Vehicle Type
Passenger Cars
Commercial Vehicles
Geography
North America
United States
Canada
Rest of North America
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
India
China
South Korea
Japan
Rest of Asia-Pacific
Rest of the world
South America
Middle-East and Africa
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Automotive Brake Pad Market Research FAQs

The Automotive Brake Pad Market size is expected to reach USD 17.19 billion in 2024 and grow at a CAGR of 3.25% to reach USD 20.28 billion by 2029.

In 2024, the Automotive Brake Pad Market size is expected to reach USD 17.19 billion.

Brembo S.p.A., Akebono Brake Company, Tenneco Inc., ITT Inc. and Nisshinbo Brake Inc are the major companies operating in the Automotive Brake Pad Market.

In 2024, the Asia-Pacific accounts for the largest market share in Automotive Brake Pad Market.

In 2023, the Automotive Brake Pad Market size was estimated at USD 16.63 billion. The report covers the Automotive Brake Pad Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Automotive Brake Pad Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Automotive Brake Pad Industry Report

Statistics for the 2024 Automotive Brake Pad market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Automotive Brake Pad analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Automotive Brake Pad Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)