In a bid to prevent a rise in road accidents, manufacturers introduced brake pads, which work well on disc brakes. Since then, developments have included noise reduction during brake application as well as integration of smart technologies.
In-Depth research report on Automobile Brake Pad Market :
https://www.radiantinsights.com/research/global-automobile-brake-pad-market-professional-survey-report-2017
Putting the Brakes on Accidents
Automobile brake pads are components of a brake system that work with a brake caliper to bring the vehicle to a stop. They are effective in preventing collisions or accidents. The ban on asbestos as a base material for manufacturing brake pads has forced manufacturers to look for alternative materials. A hybrid version of metal and other sustainable materials are currently being researched by automotive manufacturers.
Brake-Throughs
BMW Group partnered with Brembo S.p.A. to manufacture brake pads for the M3, M4, and M5 variants of its cars. These pads are made of carbon ceramic and do not overheat from sudden braking. Reduction in weight leads to better steering and acceleration.
ITT Corporation, a U.S. solutions provider of critical components, debuted the “ITT Smart Pad” at Eurobrake 2017. This revolutionary product can monitor braking metrics such as drag, vibration, noise, and temperature. Collation of this data can offer valuable insights to future manufacturers.
Market Overview
The global automobile brake pad market is anticipated to earn immense revenues by 2021, according to a report on Radiant Insights, Inc. It is expected to showcase a decent CAGR over the forecast period (2011 – 2021). It is driven by strict stopping regulations amid a spike in manufacturing rates of automobiles. Non-metallic, semi-metallic, non-asbestos, non-asbestos organic (NAO), and ceramic brake pads are various products in the market.
The ceramic segment is estimated to generate high revenues due to its ability to reduce noise as well as greater compatibility with the vehicle. Vehicle aftermarket is expected to be the biggest application segment till 2021 due to continuous sales of brake pads. India and China markets are predicted to display a high CAGR due to disposable incomes and demand for commercial vehicles.
Notable market players include Robert Bosch GmBH; Honeywell International, Inc.; ATE Brakes; and Akebono Brake Industry Co., Ltd.
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