Brake pads are components of a vehicle’s braking system. They provide the necessary friction to stop it. These brake pads are an integral part the automobile’s disk brakes. These brake pads are used to press against the brake discs when the brakes are engaged. This stops the vehicle’s speed and reduces its motion. Brake pads can be found in the brake caliper. They push against the rotors to convert kinetic energy into thermal energy.
Many technologies like ABS (Antilock Braking System) and Autonomous Braking Systems have become standard equipment on new cars. These technologies are helping to accelerate the growth in the global automotive brake pad market. In recent years, a number of new companies have entered the brake pad market. They plan to develop high-performance friction materials and use advanced manufacturing and development technologies. High-temperature brake pads are durable and reliable. To ensure a steady supply of brake pads for automotive industries, manufacturers enter into long-term supply contracts with automakers in order to strengthen their market leadership.
Expected Growth: The market for automotive brake pads worldwide was worth USD 3.8 billion in 2021. It is expected to grow at a 5.7% CAGR between 2022 and 2031. The report is about what else researchers found from the detailed information, and also provides data regarding the current market condition. The report covers types and applications according to countries and key regions The companies most active in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.
Post time: Nov-23-2022
