MEA & Pakistan Brake Pad Market to Surpass USD3769 Million through 2026
Increasing demand for the sales of
commercial vehicles and growing consumer awareness is expected to drive the
demand of the MEA & Pakistan Brake Pad market for the forecast period.
According to TechSci Research report, “MEA
& Pakistan Brake Pad Market By Vehicle Type (Passenger Car, Light
Commercial Vehicle), By Country, Competition Forecast & Opportunities, 2026”, the MEA &
Pakistan Brake Pad market stood at USD2,656.71 million in 2020 and it is
expected to be valued at USD3,769.52 million in 2026, advancing with a CAGR of 5.64%
in the forecast period, 2022-2026. Brake pads are a component of disc brakes
and are made up of materials that contain a high co-efficient of friction. The
low-noise characteristic and the presence of a stable co-efficient of friction
increases the vehicle performance. These are used in automotive and other
applications. Upon using a brake pad, the system requires fewer efforts for
controlling the vehicle speed, therefore, generating minimal vibrations and
sound.
Also, brake pads produce less heat, and it
causes lesser damage to the disc, which increases the service life of brake
pads. An increase in the initiatives taken by the leading authorities to
encourage the expansion of the automotive industry is contributing
significantly to the brake pad market growth. The rise in awareness about
vehicle safety coupled with the integration of several technologies such as
anti-lock braking systems to ensure the safety of consumers is expected to fuel
the brake pad market’s growth. The use of advanced materials such as
non-asbestos organic composites and ceramics to enhance the vehicle efficiency
over the wide range of temperature is expected to foster the market demand. The
growing demand for semi-metallic material segment is due to their ability to
provide high sheer and bonding strength in brake systems.
Rapid industrialization in the region is
increasing the demand for commercial vehicles and the long distances traveled
are surging the wear and tear in vehicles which in turn is influencing the
demand of the brake pad market. Automobile manufacturers are focusing on upgrading
the existing infrastructure to minimize the occurrence of accidental deaths.
The leading authorities of MEA & Pakistan are implementing strict norms and
regulations to ensure the safety of pedestrians and to reduce the stopping
distance of the vehicle which in turn is accelerating the MEA & Pakistan brake
pad market growth. Increase in the sales of high-speed vehicles is influencing
the demand of brake pad as it is required to be integrated into all light
vehicles. The increase in the number of commercial vehicles and the
transportation industry is creating the demand to manufacture brake pads with
low maintenance and high temperature withstanding capabilities.
However, the complexity in designing advanced
brake pad systems may restrain the MEA & Pakistan brake pad market growth
for the forecast period.
Browse 59 Tables and 74 Figures spread through 138 Pages and
an in-depth TOC on "MEA &
Pakistan Brake Pad Market”.
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MEA & Pakistan Brake Pad market is segmented into vehicle
type, regional distribution, and company. Based on vehicle type, the market can
be bifurcated into passenger car and light commercial vehicle. The passenger
car segment is expected to hold a major MEA & Pakistan brake pad market
share for the forecast period, 2022-2026. The use of disc brakes is becoming a
standard in passenger vehicles and the rise in the number of brake pads
required per vehicle is expected to drive the demand for the brake pad.
The rapid urbanization of people in search of better living
standards and job opportunities is increasing the sales of passenger vehicles
and the improving economic conditions in the region are supporting the
passenger car segment’s growth. Availability of financial assistance to
consumers to enhance their expenditure capacity to afford the passenger cars
and the use of brake pads in automobiles is contributing to the segment’s
growth.
Asimco Global Inc. TRW Ltd Aftermarket, MAT Holdings, Inc.,
Sangsin Brake Co., Ltd., FBK Manufacturing Malaysia Sdn Bhd, Tenneco Inc, AC
Delco, Robert Bosch (Pty) Ltd, Safeline Brakes (G.U.D. Holdings), and Alfred
Teves Brake Systems (Pty) Ltd, among others are the leading players operating
in MEA & Pakistan Brake Pad Market. Manufacturers are increasingly focusing
on research and development process to fuel higher growth in the market. To
meet evolving customer demand with respect to better efficiency and durability,
several brake pad manufacturers are coming up with their technologically
advanced offerings.
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“Manufacturers
are focusing upon the research and development activities to eliminate copper
from the brake pad as they disintegrate on continuous usage. The invention of
copper-free brake pad material is to make copper-free friction materials to
reduce the vehicle emissions released in urban areas. Additionally, the
introduction of advanced braking technologies such as electric driven
intelligent brakes, autonomous electronic braking, and other systems to
revolutionize the brake pad system is anticipated to propel the MEA &
Pakistan brake market through 2026” said Mr. Karan Chechi, Research Director
with TechSci Research, a research based global management consulting firm.
“MEA & Pakistan
Brake Pad Market By Vehicle Type (Passenger Car, Light Commercial Vehicle), By
Country, Competition Forecast & Opportunities, 2026” has evaluated the
future growth potential of MEA & Pakistan Brake Pad market and provided
statistics & information on market size, shares, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers, challenges,
and opportunities in the MEA & Pakistan Brake Pad market.
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