The global Electric Vehicle (EV) brake pads market size reached USD 115.8 million in 2020 and is expected to register a revenue CAGR of 18.1% during the forecast period, according to latest analysis by Emergen Research. Increasing adoption of ceramic type EV brake pads is projected to continue to support market revenue growth between 2021 and 2028.
In addition, rising demand for EVs is expected to drive revenue growth of the global market growth going ahead. Currently, rapid incline in demand for ceramic type brake pads as well as safety, better performance, and control are factors driving adoption of advanced electric vehicle brake pads.
Manufacturers in various vehicle segments, including passenger cars and commercial vehicles, are rapidly adopting ceramic type brake pads in vehicles being produced. Ceramic type electric vehicle brake pads are produced from a variety of materials that offer sturdy structure, which helps to increase brake pad life by 30%. Unique parameters of ceramic type brake pads help in faster heat dissipation and also decreases chances of warping of rotor due to excess heating in braking systems.
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The report is an investigative study of the technological developments and product advancements, along with a regional analysis for each product and application offered in the market. The fundamental objective of the report is to give an insight into the workings of the Electric Vehicle (EV) Brake Pads Market industry. It provides an accurate and strategic outlook of the market with a thorough assessment of the segments and sub-segments of the market. It provides a panoramic view of the industry to offer a deeper understanding of the global industry.
Key players in the market include TRW Aftermarket Asia Pacific Pte Ltd., ATE Brakes (Continental Aftermarket Services GmbH), Akebono brake industry co. ltd., BorgWarner Inc., Brembo S.p.A, Aisin Aftermarket Corporation, Bendix Corporation, Tenneco Inc., Robert Bosch GmbH, and EBC Brakes USA Inc.
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Emergen Research has segmented global electric vehicle brake pads market on the basis of type, propulsion type, vehicle type, sales channel, and region:
Type Outlook (Revenue, USD Million; 2018–2028)
Organic
Metallic
Ceramic
Propulsion Type Outlook (Revenue, USD Million; 2018–2028)
Battery Electric Vehicle (BEV)
Plug-in Hybrid Electric Vehicle (PHEV)
Hybrid Electric Vehicle (HEV)
Vehicle Type Outlook (Revenue, USD Million; 2018–2028)
Passenger Cars
Commercial Vehicles
Sales Channel Outlook (Revenue, USD Million; 2018–2028)
Original Equipment Manufacturer (OEM)
Aftermarket
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Regional Segmentation
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Answered by the Report:
Which region is expected to dominate the market in the coming years?
What are the recent technological and product advancements occurring in the market?
What are the key strategies adopted by the prominent players in the Electric Vehicle (EV) Brake Pads market?
What are the key product types and applications of the Electric Vehicle (EV) Brake Pads industry?
What is the outcome of SWOT analysis and Porter’s Five Forces analysis?
How is the competitive landscape of the Electric Vehicle (EV) Brake Pads market?
Who are the key players in the industry?
What is the growth rate of the industry over the coming years?
What will be the valuation of the Electric Vehicle (EV) Brake Pads Market by 2028?
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