Automotive Brake Pads Market Size - By Material Type (Semi-metallic, Non-asbestos, Low-metallic, Ceramic Brake Pads), By Vehicle Type (Passenger Cars, LCV, HCV, Two Wheelers) & Forecast, 2024 – 2032

Asia Pacific market is set to exhibit robust growth at a notable CAGR from 2024-2032, attributed to the booming automotive manufacturing sector across major APAC countries such as China, and India.

Some of the top companies engaged in the market are Akebono Brake Corporation, Delphi Technologies, DRiV Automotive Inc., Dynamic Friction Company, EBC Brakes, HELLA GmbH & Co. KGaA, Hitachi Astemo, Ltd., Maruti Suzuki India Limited, Masu Brakes, Robert Bosch LLC, SKF, TOMEX Brakes sp. z o.o. sp.k., TSF Group, Webb Wheel Products, Inc, and ZF Friedrichshafen AG.

The market size of automotive brake pads reached USD 4 billion in 2023 and is set to expand at over 4.3% CAGR between 2024 and 2032, led by the surging demand for vehicles across the globe.

The ceramic segment recorded more than USD 2 billion in 2023 and is poised to reach USD 4.02 billion by 2032, owing to their ability to withstand high temperatures, durability, improved performance, low dust production, and eco-friendliness.