The Europe Automotive Brake Pad Market would witness market growth of 4.7% CAGR during the forecast period (2022-2028).
The market for automotive brake pads is expanding more quickly as a result of these innovations. In recent years, a number of new companies have joined the brake pad market with the goal of introducing high-quality and high-performance friction materials using cutting-edge development and manufacturing techniques. Manufacturers concentrate on creating high-temperature brake pads that are dependable and robust.
To assure supply stability and maintain their market dominance, producers of brake pads for the automotive sector enter into long-term supply agreements with automakers. Companies in the brake pad market are becoming aware of the increased emissions from vehicles brought on by disc brake wear. In order to reduce vehicle emissions, manufacturers are stepping up their R&D efforts to remove copper from brake pads.
To reduce the number of car emissions released in populated regions, they are experimenting with friction materials free of copper. This has been found to improve environmental and human circumstances. In addition, manufacturers are considering matching sets of rotors as well as brake pads to provide vehicles with dependable and consistent performance.
There has been an increase in the number of automobiles purchased by businesses in the region. These vans are also used to transport online-purchased goods. As e-commerce expands throughout Europe, the demand for a more modern distribution network increases. Germany is a prominent automotive center in Europe, with the Volkswagen Group, BMW Group, and Daimler Group among its established automakers. The country is a major producer of light commercial cars in Europe. In addition, German manufacturers of light commercial trailers create more trailers than Germany requires. With the expansion of the automotive industry, the automotive brake pad market in Europe is predicted to grow as well.
The Germany market dominated the Europe Automotive Brake Pad Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $319.2 million by 2028.The UK market is estimated to grow at a CAGR of 3.8% during (2022 - 2028). Additionally, The France market would exhibit a CAGR of 5.5% during (2022 - 2028).
Based on Material, the market is segmented into Non-Asbestos Organic, Semi Metallic, Low Metallic NAO and Ceramic. Based on Position, the market is segmented into Front & Rear and Front. Based on Sales Channel, the market is segmented into Aftermarket and OEM. Based on Vehicle Type, the market is segmented into Passenger Cars, Light Commercial Vehicles, Two Wheelers and Heavy Commercial Vehicles. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Automotive Brake Pad Market will Hit $5.1 Billion by 2028, at a CAGR of 5.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Continental AG, Robert Bosch GmbH, ZF Friedrichshafen AG, Brembo S.p.A., BorgWarner, Inc., ITT, Inc., Tenneco, Inc. (Apollo Funds), Akebono Brake Industry Co., Ltd., ADVICS Co., Ltd. (Aisin Corporation), and Brake Parts, Inc. (First Brands Group).
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