Report : Europe Automotive Brake Pads Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Material Type (Metallic Brake Pad, Semi-Metallic Brake Pad, Ceramic Brake Pad, Asbestos Brake Pad, and Non-Asbestos Organic Brake pad) and Vehicle Type (Commercial Vehicle and Passenger Cars)
Passenger Car Segment to Dominate Europe Automotive Brake Pads Market During 2021–2028
According to a new market research study on “Europe Automotive Brake Pads Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Material Type and Vehicle Type”, the market is expected to reach US$ 731.97 million by 2028 from US$ 597.79 million in 2021. It is estimated to grow at a CAGR of 2.9% from 2021 to 2028. The report provides trends prevailing in the Europe automotive brake pads market along with the drivers and restraints pertaining to the market growth. Rising investments by brake pads manufacturers in expanding production capacity is the major factor driving the growth of the Europe automotive brake pads market. However, high cost of raw materials may hamper the growth of the Europe automotive brake pads market.
The Europe automotive brake pad market is analyzed based on material type, vehicle type, and country. Based on material type, the market is segmented into metallic brake pads, semi-metallic brake pads, ceramic brake pads, asbestos brake pads, and non-asbestos organic brake pads. The non-asbestos organic brake pads segment dominated the market in 2020, however semi-metallic brake pads segment is expected to be fastest growing during forecast period. Based on vehicle type, the market is segmented into commercial vehicle and passenger car. The passenger cars segment dominated the market in 2020 and is expected to be fastest growing during forecast period. Based on country, the Europe automotive brake pad market is segmented into the France, Germany, UK, Italy, Russia, and Rest of Europe.
ACDelco; AKEBONO BRAKE INDUSTRY CO., LTD.; Brake Parts Inc. LLC.; Brembo S.p.A.; Hebei Huahua Friction Material CO., Ltd.; Robert Bosch GmbH; SANGSIN BRAKE; Util Industries S.p.A; and ZF Friedrichshafen AG are among some of the leading companies in the Europe automotive brake pad market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, Akebono Brake Corporation had announced that Akebono's products have been adopted by Lynk & Co, for supplying 4-pot disc brake calipers and copper-free disc brake pads for the front wheels of the "05+" model, a high-performance SUV. This developed have helped the company to empower its product offerings across various applications.
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