The North America automotive brake pads market is expected to grow from US$ 461.42 million in 2021 to US$ 594.32 million by 2028; it is estimated to grow at a CAGR of 3.7% from 2021 to 2028.
The automobile industry is a pillar of the regional economy, it is a significant contributor to the advancement in technology and macroeconomic growth and stability in both developed and developing countries, spanning many adjacent industries. Factors such as government regulations, the country's GDP, and consumer purchasing power influence the evolution and momentum of the automotive industry. Thus, associated stakeholders in the automotive industry play a crucial role in the industry's growth. As per the data published by the International Organization of Motor Vehicle Manufacturers (OICA), before the COVID-19 pandemic, the production and sales of automobiles were increasing rapidly owing to the rise in GDP and growth in consumer spending. However, the emergence of the pandemic hampered the country's GDP and the spending power of the consumers, which eventually impacted the buying trend of automobiles in 2020. On the other side, in 2021, the production and sales witnessed an increase due to ease in restrictions and reopening of business activities, which propelled the demand for brake pads. Also, technological evolution in the automotive industry, along with the rise in sales, drives the automotive brake pad market. The growing investment in the automotive industry is augmenting the production of automotive vehicles, fueling the demand for automotive brake pads across the region.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America automotive brake pads market . The North America automotive brake pads market is expected to grow at a good CAGR during the forecast period.
North America Automotive Brake Pads Market Revenue and Forecast to 2028 (US$ Million)
North America Automotive Brake Pad Market Segmentation
The North America automotive brake pad market is analyzed based on material type, vehicle type, and country. Based on material type, the market is segmented into metallic brake pads, semi-metallic brake pads, ceramic brake pads, asbestos brake pads, and non-asbestos organic brake pads. The non-asbestos organic brake pads segment dominated the market in 2020, and the semi-metallic brake pads segment is expected to be the fastest-growing during the forecast period. Based on vehicle type, the market is segmented into commercial car and passenger car. The passenger vehicles segment dominated the market in 2020 and is expected to grow faster during the forecast period. Based on country, the North America automotive brake pad market is segmented into the US, Canada, and Mexico. ACDelco; AKEBONO BRAKE INDUSTRY CO., LTD.; Brake Parts Inc. LLC.; Brembo S.p.A.; Hebei Huahua Friction Material CO., Ltd.; Nisshinbo Holdings Inc.; Robert Bosch GmbH; SANGSIN BRAKE; Util Industries S.p.A; and ZF Friedrichshafen AG are among the leading companies in the North America automotive brake pad market.
Non-Asbestos Organic Brake Pads Segment to Dominate North America Automotive Brake Pads Market During 2021–2028
According to a new market research study on “North America Automotive Brake Pads Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Material Type and Vehicle Type ” is expected to reach US$ 594.32 million by 2028 from US$ 461.42 million in 2021. The market is estimated to grow at a CAGR of 3.7% from 2021 to 2028. The report provides trends prevailing in the North America automotive brake pads market along with the drivers and restraints pertaining to the market growth. Rise in production and sales of automotive vehicles is the major factor driving the growth of the North America automotive brake pads market . However, high cost of raw materials may hamper the growth of the market hinders the growth of North America automotive brake pads market .
The North America automotive brake pad market is analyzed based on material type, vehicle type, and country. Based on material type, the market is segmented into metallic brake pads, semi-metallic brake pads, ceramic brake pads, asbestos brake pads, and non-asbestos organic brake pads. The non-asbestos organic brake pads segment dominated the market in 2020 and semi-metallic brake pads segment is expected to be fastest growing during forecast period. Based on vehicle type, the market is segmented into commercial car and passenger car. The passenger vehicles segment dominated the market in 2020 and is expected to be fastest growing during forecast period. Based on country, the North America automotive brake pad market is segmented into the US, Canada, and Mexico .
ACDelco; AKEBONO BRAKE INDUSTRY CO., LTD.; Brake Parts Inc. LLC.; Brembo S.p.A.; Hebei Huahua Friction Material CO., Ltd.; Nisshinbo Holdings Inc.; Robert Bosch GmbH; SANGSIN BRAKE; Util Industries S.p.A; and ZF Friedrichshafen AG are among the leading companies in the North America automotive brake pad market . The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, Akebono Brake Corporation had announced that Akebono's products have been adopted by Lynk & Co, for supplying 4-pot disc brake calipers and copper-free disc brake pads for the front wheels of the "05+" model, a high-performance SUV. This developed have helped the company to empower its product offerings across various applications.
TABLE OF CONTENTS
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Market Landscape
4.1 Market Overview
4.2 North America PEST Analysis
4.3 Ecosystem Analysis
4.4 EXPERT OPINIONS
5. North America Automotive Brake Pads Market – Market Dynamics
5.1 Key Market Drivers
5.1.1 Rise in production and sales of automotive vehicles
5.1.2 Growing Investments by Brake Pads Manufacturers in Expanding Production Capacity
5.2 Market Restraints
5.2.1 High cost of raw materials may hamper the growth of the market
5.3 Market Opportunities
5.3.1 Surging Technological Advancements for Lightweight and Environment Friendly Braking System
5.4 Trends
5.4.1 Escalating Adoption of Electric Vehicles Propels the Usage Of Brake Pads
5.5 Impact Analysis of Drivers and Restraints
6. Automotive Brake Pads Market – North America Analysis
6.1 Overview
6.2 North America Automotive Brake Pads Market Revenue and Forecast to 2028 (US$ Mn)
7. North America Automotive Brake Pad Market Analysis – By Material Type
7.1 Overview
7.2 North America Automotive Brake Pad Market Breakdown, by Material Type, 2020 & 2028
7.3 Metallic Brake Pad
7.3.1 Overview
7.3.2 Metallic Brake Pad Market Revenue and Forecasts to 2028 (US$ Mn)
7.4 Semi-Metallic Brake Pad
7.4.1 Overview
7.4.2 Semi-Metallic Brake Pad Market Revenue and Forecasts to 2028 (US$ Mn)
7.5 Asbestos Brake Pad
7.5.1 Overview
7.5.2 Asbestos Brake Pad Market Revenue and Forecasts to 2028 (US$ Mn)
7.6 Non-Asbestos Organic Brake Pad
7.6.1 Overview
7.6.2 Non-Asbestos Organic Brake Pad Market Revenue and Forecasts to 2028 (US$ Mn)
8. North America Automotive Brake Pad Market Analysis – By Vehicle Type
8.1 Overview
8.2 North America Automotive Brake Pad Market Breakdown, By Vehicle Type, 2020 & 2028
8.3 Commercial Vehicle
8.3.1 Overview
8.3.2 Commercial Vehicle Market Revenue and Forecasts to 2028 (US$ Mn)
8.4 Passenger Cars
8.4.1 Overview
8.4.2 Passenger Cars Market Revenue and Forecasts to 2028 (US$ Mn)
9. North America Automotive Brake Pad Market – Country Analysis
9.1 Overview
9.1.1 North America: Automotive Brake Pads Market Revenue Share, by Country (2020 and 2028)
9.1.1.1 US: Automotive Brake Pads Market – Revenue and Forecast to 2028 (US$ Mn)
9.1.1.1.1 US Automotive Brake Pad Market Breakdown, By Material Type
9.1.1.1.2 US Automotive Brake Pad Market Breakdown, By Vehicle Type
9.1.1.2 Canada: Automotive Brake Pads Market – Revenue and Forecast to 2028 (US$ Mn)
9.1.1.2.1 Canada Automotive Brake Pad Market Breakdown, By Material Type
9.1.1.2.2 Canada Automotive Brake Pad Market Breakdown, By Vehicle Type
9.1.1.3 Mexico: Automotive Brake Pads Market – Revenue and Forecast to 2028 (US$ Mn)
9.1.1.3.1 Mexico Automotive Brake Pad Market Breakdown, By Material Type
9.1.1.3.2 Mexico Automotive Brake Pad Market Breakdown, By Vehicle Type
10. Industry Landscape
10.1 Overview
10.2 Agreements, Collaborations and Joint Ventures
10.3 New Product Launches
10.4 Expansion and Other Strategic Developments
11. Company Profiles
11.1 ACDelco
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 AKEBONO BRAKE CORPORATION
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 Brake Parts Inc. LLC.
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 Brembo S.p.A.
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 Hebei Huahua Friction Material CO., Ltd.
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 Nisshinbo Holdings Inc.
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 Robert Bosch GmbH
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
11.8 SANGSIN BRAKE
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Products and Services
11.8.4 Financial Overview
11.8.5 SWOT Analysis
11.8.6 Key Developments
11.9 ZF Friedrichshafen AG (TRW Automotive)
11.9.1 Key Facts
11.9.2 Business Description
11.9.3 Products and Services
11.9.4 Financial Overview
11.9.5 SWOT Analysis
11.9.6 Key Developments
11.10 Util Industries S.p.A.
11.10.1 Key Facts
11.10.2 Business Description
11.10.3 Products and Services
11.10.4 Financial Overview
11.10.5 SWOT Analysis
11.10.6 Key Developments
12. Appendix
12.1 About The Insight Partners
12.2 Glossary of Terms
LIST OF FIGURES.
Figure 1. North America Automotive Brake Pads Market Segmentation
Figure 2. North America Automotive Brake Pads Market Segmentation – By Country
Figure 3. North America Automotive Brake Pads Market Overview
Figure 4. North America Automotive Brake Pads Market, By Material Type
Figure 5. North America Automotive Brake Pads Market, by Country
Figure 6. North America – PEST analysis
Figure 7. North America Automotive Brake Pad Market– Ecosystem Analysis
Figure 8. North America Automotive Brake Pad Market Impact Analysis of Drivers and Restraints
Figure 9. North America Automotive Brake Pads Market Revenue and Forecast To 2028 (US$ Mn)
Figure 10. North America Automotive Brake Pad Market Breakdown, by Material Type, 2020 & 2028 (%)
Figure 11. North America Metallic Brake Pad Market Revenue and Forecasts to 2028 (US$ Mn)
Figure 12. North America Semi-Metallic Brake Pad Market Revenue and Forecasts to 2028 (US$ Mn)
Figure 13. North America Asbestos Brake Pad Market Revenue and Forecasts to 2028 (US$ Mn)
Figure 14. North America Non-Asbestos Organic Brake Pad Market Revenue and Forecasts to 2028 (US$ Mn)
Figure 15. North America Automotive Brake Pad Market Breakdown, By Vehicle Type, 2020 & 2028 (%)
Figure 16. North America Commercial Vehicle Market Revenue and Forecasts to 2028 (US$ Mn)
Figure 17. North America Passenger Cars Market Revenue and Forecasts to 2028 (US$ Mn)
Figure 18. North America: Automotive Brake Pads Market, by Key Country – Revenue (2020) (US$ Million)
Figure 19. North America: Automotive Brake Pads Market, by Country, 2020 & 2028 (%)
Figure 20. US: Automotive Brake Pads Market – Revenue and Forecast to 2028 (US$ Mn)
Figure 21. Canada: Automotive Brake Pads Market – Revenue and Forecast to 2028 (US$ Mn)
Figure 22. Mexico: Automotive Brake Pads Market – Revenue and Forecast to 2028 (US$ Mn)
