Auto Brake Pads and Shoes are an important part of the braking system in your car or truck. Auto Brake Pads are designed to stop the vehicle by causing friction with the auto brake shoes when the brake pedal is depressed. There are two types of auto brake pads in a vehicle; front and rear brakes, although some vehicles only have rear brakes. Auto Brake Pads are found in all types of vehicles from compact cars to heavy trucks. It’s important for owners to monitor their brake pads and shoes periodically to ensure they're in good condition. When you need to replace your brake pads, it's important to purchase high-quality ones from a trusted manufacturer. Poorly made brakes can be less efficient and cost more to repair over time. The number of cars on the road increased dramatically in the past decade. With more cars on the road, there are more opportunities for accidents. Consequently, auto brake pads and shoes have become a necessity because they provide protection to drivers from slowing down too quickly or coming to an abrupt stop.
Benefit and Uses Auto Brake Pad and Auto Brake Shoe
Brake pads are made of a rubber compound, metal clips, shims, springs, and a dust cover. It is a crucial part of any car's braking system, providing the friction needed to slow the car down. Brake pads are also used on heavy machinery such as trucks, trailers, cranes, tractors and forklifts. Brake shoes are pieces of metal that go between the brake pad and wheel to provide additional resistance when you step on your brakes. Brake pads are installed on the inside of the wheel while brake shoes are installed on the outside. The brakes rub against these parts when you push down on your brake pedal, causing friction that slows your car down or stops it altogether.
Indian Market Outlook
India Brake Pad Market was worth USD 4.75 billion in 2021 and is further projected to reach USD 8.54 billion by the year 2028, exhibiting a CAGR of 8.9% during the forecast period (2022-2028). The rapid expansion of the market is predominantly due to the rapidly growing fleet of cars and expanding fleet size across the country. Also, the key reasons driving demand in the India Brake Pad Market are the growing popularity of electric and hybrid vehicles. Moreover, ongoing technological advances and supportive government policies encouraging the automobile industry are likely to boost the India Brake Pad Market growth during the forecast period. In addition, market participants are spending on research and development to offer creative solutions as well as enhance existing infrastructure. They are putting in various sensors and attempting to reduce the stopping distance of automobiles. Additionally, during the forecast period (2022-2028), the introduction of friction-free materials is expected to provide profitable potential prospects for the Indian Brake Pad Market.
Global Market Outlook
The global brake pad market is expected to grow from US$ 2,580.57 million in 2021 to US$ 3,342.58 million by 2028. It is estimated to grow at a CAGR of 3.8% from 2020 to 2028. The global market outlook for auto brake pads and shoes looks great. In fact, the demand for these products will outpace supply in the next years, so if you're interested in starting a new auto brake pad or shoe business you should act now. The auto industry is huge! With all that money being invested in the automobile, it's no surprise that there's high demand for brake pads, shoes, and other car parts. As cars continue to be improved (with more fuel efficient engines) the demand for replacement parts will only continue to rise. There are many different types of brakes available, including air brakes, drum brakes, disc brakes and others, the most common type of brake found on passenger vehicles today is the disc brake. This segment holds about 50% of total global production volume.
There are a number of reasons the auto brake pad and shoe industry has seen such an increase in demand. These include: new regulations on emissions, higher gas prices, the growing popularity of SUVs, more stringent safety standards for vehicles. The future looks bright for auto brake pad manufacturers as they continue to innovate their product offerings to meet the needs of consumers.
· 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
· ZF Friedrichshafen AG