Automotive Brake Pads Market Key Players Studied in this Report are ACDelco, Akebono Brake Industry Co.Ltd., Allied-Nippon Limited, ATE. Bosch Auto Parts, Brakes India Pvt.Ltd., Brakewel Automotive Components India Pvt.Ltd., G.U.D Holdings, Hindustan Composites Limited, Makino Auto Industries Pvt.Ltd, MAT Holdings, Nisshinbo Group Company, Ranbro, Brakes India Limited, Rane Brake Lining Limited, STEINHOF, Sundaram Brake Linings, Tenneco Inc, TMD, and ZF Friedrichshafen among the other players.

Pune, India, Oct. 18, 2021 (GLOBE NEWSWIRE) -- According to the report, Automotive Brake Pads Market size is is projected to observe staggering growth in the upcoming years. The enhancing per capita income levels of the growing population across developing and developed countries and the surging manufacturing of passenger cars to satisfy the unprecedented demand are expected to boost market growth. Fortune Business Insights™ has presented this information in an upcoming report, titled, “Automotive Brake Pads Market, 2021-2028”.

As per the report, the market is gaining steep momentum for several reasons. For instance, the growing urbanization and the swelling global population would augment the demand for passenger and commercial vehicles. The rising demand for automotive brake pads for applications in commercial and passenger vehicles is anticipated to augment market growth in the forthcoming years.

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Surging Demand for Passenger Cars to Fuel Market Growth

The rising personal disposable income levels and enhancing living standards would augment the purchasing power of consumers. The high vehicle demand due to the increased purchasing power is expected to bolster the global automotive brake pads market growth.

Key manufacturers of automotive brake pads are heavily investing in research and development activities to produce eco-friendly and lightweight braking systems. They’re focused on the production of advanced friction materials to enhance control over vehicles. Hence, future innovations and developments in automotive brake pads are anticipated to boost market growth. The increasing demand for improved braking performance at high speeds is also expected to fuel market growth in the forthcoming years. Additionally, the advent of electric vehicles and their rising adoption is anticipated to boost market growth in the upcoming years.

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North America to Dominate Global Market Stoked by Increasing R&D Activities

North America is projected to emerge dominant in terms of the global automotive brake pads market share. The high sales and swelling production of vehicles is anticipated to boost growth. Additionally, manufacturers are heavily investing in research and development activities to produce advanced automotive brake pads. They are emphasizing on reducing the size of brake pads and enhancing the heat dissipation capacity. Hence, the upcoming product developments and innovations are anticipated to fuel market growth.

Europe is anticipated to rank second in the global market. The rising demand for passenger vehicles is expected to be the major growth driver in the forthcoming years. Additionally, the strict rules and regulations regarding vehicles’ safety are expected to augment the market growth.

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Major key Players studied in report:

• ACDelco

• Akebono Brake Industry Co. Ltd.

• Allied-Nippon Limited

• ATE

• Bosch Auto Parts

• Brakes India Pvt. Ltd.

• Brakewel Automotive Components India Pvt. Ltd.

• G.U.D Holdings

• Hindustan Composites Limited

• Makino Auto Industries Pvt. Ltd.

• MAT Holdings

• Nisshinbo Group Company

• Ranbro

• Rane Brake Lining Limited

• STEINHOF

• Sundaram Brake Linings

• Tenneco Inc.

• TMD

• ZF Friedrichshafen

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Global Automotive Brake Pads Market Segmentation:

By Product Type:

• Liquid Suctioning Only

• Liquid and Dry Suctioning

By Application Type:

• Industrial

• Excavation

• Municipal

• Sweeper Truck

• Others

By Geography

• North America (U.S. and Canada)

• Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)

• Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific)

• Latin America (Brazil, Mexico, and Rest of Latin America)

• Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)

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