The global electric vehicle brake pads market is expected to reach $289.2 million by 2026, with a CAGR of 17.75% during the forecast period 2021-2026.
The automotive industry is experiencing rising adoption of electric vehicles due to changing consumer preferences based on various factors, such as rising concerns about driver safety, environmental concerns, and acute government regulations and policies.
Major original equipment manufacturers (OEMs) are constantly working on making electric vehicles more safe, affordable, and efficient. Over a period of time, the automotive industry is evolving with technological advancement in electric vehicle accessories such as battery systems, cooling systems, braking systems, and other components.
The safety of an electric vehicle (EV) depends upon the braking system, which includes brake pads, brake disc, and brake fluid, etc. The brake pads play an important role in the braking system as the stability and safety of a vehicle depend on them.
How This Report Can Add Value
Product/Innovation Strategy: The product segment helps the readers in understanding the different types of materials used in manufacturing brake pads. Also, the study provides the readers with a detailed understanding of the electric vehicle brake pads market by propulsion type, vehicle type, and sales channel.
Growth/Marketing Strategy: Players operating in the global electric vehicle brake pads market are developing innovative products to enhance the capabilities of their product offerings. Growth/marketing strategies will help the readers in understanding the revenue-generating strategies adopted by the players operating in the global electric vehicle brake pads market. For instance, in January 2021, Brembo S.p.A. completed the acquisition of SBS friction to integrate brake pads in their business segment. Moreover, other strategies adopted by the market players will help the readers in making strategic decisions, such as go-to-market strategies.
Competitive Strategy: Players analyzed and profiled in the study include brake pads manufacturers that capture the maximum share in the global electric vehicle brake pads market. Moreover, a detailed competitive benchmarking of the players operating in the global electric vehicle brake pads market has been done that will help the readers to understand how players stack against each other, presenting a clear market landscape.
Additionally, comprehensive competitive strategies such as partnerships, agreements and collaborations, and mergers and acquisitions are expected to aid the readers in understanding the untapped revenue pockets in the market.
Key questions answered in the Report
For a new company looking to enter the market, which areas could it focus upon to stay ahead in the competition?
How do the existing market players function to improve their market positioning?
Which are the promising companies that have obtained financial support to develop their products and markets?
How does the supply chain function in the electric vehicle brake pads market?
Which companies have been actively involved in innovation through patent applications, and which products have witnessed maximum patent applications during the period 2017-2021?
Which product segment is expected to witness the maximum demand growth in the electric vehicle brake pads market during 2021-2026?
Which players are catering to the demand for different types of brake pads?
How should the strategies adopted by market players vary for different product segments based on the size of companies involved in each segment?
What are the key offerings of the prominent companies in the market for electric vehicle brake pads?
What are the demand patterns of electric vehicle brake pads across the application areas in different regions and countries during the period 2021-2026?
Key Topics Covered:
1 Markets 1.1 Industry Outlook 1.1.1 Trends: Industry Dynamics Defining the Future Trends in the Electric Vehicles Ecosystem 1.1.2 Trends: Industry Dynamics Defining the Future Trends in the Electric Vehicles Brake Pads Market 1.1.2.1 Impact of Increasing Electric Vehicles on the Aftermarket Brake Pads Replacement Industry 1.1.2.2 Increasing Popularity of Lightweight Brake Pads for EVs 1.1.2.3 Better Bond Between the Friction Material and the Backing Plate 1.1.3 Supply Chain Analysis 1.1.4 Ecosystem / Ongoing Programs 1.1.4.1 Consortiums, Associations, and Regulatory Bodies 1.1.4.2 Government Programs and Initiatives 1.1.4.3 Programs by Research Institutions and Universities 1.2 Business Dynamics 1.2.1 Business Drivers 1.2.1.1 Rising Demand for Electric Vehicles 1.2.1.2 Government Regulation and Policies Toward Sustainable World Encouraging Customers 1.2.1.3 Increase in Demand for Safety, Better Performance, and Control 1.2.2 Business Restraints 1.2.2.1 Service and Maintenance 1.2.2.2 Difficulty in Noise Cancellation 1.2.2.3 COVID-19 Impact on Electric Vehicle Market 1.2.3 Business and Corporate Strategies 1.2.4 Business Opportunities 1.2.4.1 Development in Materials Used in Brake Pads 1.2.4.2 Environment-Friendly Brake Pads
2 Application 2.1 Electric Vehicle Brake Pads Market- Applications and Specifications 2.1.1 Electric Vehicle Brake Pads Market (by Sales Channel) 2.1.1.1 OEM 2.1.1.2 Aftermarket 2.1.2 Electric Vehicle Brake Pads Market (by Propulsion Type) 2.1.2.1 Battery Electric Vehicle (BEV) 2.1.2.2 Hybrid Electric Vehicle (HEV) 2.1.2.3 Plug-In Hybrid Electric Vehicle (PHEV) 2.1.3 Electric Vehicle Brake Pads Market (by Vehicle Type) 2.1.3.1 Passenger 2.1.3.2 Commercial 2.2 Demand Analysis of Electric Vehicle Brake Pads Market- Applications and Specifications 2.2.1 Demand Analysis of Electric Vehicle Brake Pads Market (by Sales Channel) 2.2.2 Demand Analysis of Electric Vehicle Brake Pads Market (by Propulsion Type) 2.2.3 Demand Analysis of Electric Vehicle Brake Pads Market (by Vehicle Type)
3 Products 3.1 Electric Vehicle Brake Pads Market- Products and Specifications 3.1.1 Electric Vehicle Brake Pads Market (by Type) 3.1.1.1 Organic 3.1.1.2 Metallic 3.1.1.3 Ceramic 3.2 Demand Analysis of Electric Vehicle Brake Pads Market- Products and Specifications 3.2.1 Demand Analysis of Electric Vehicle Brake Pads Market (by Type) 3.3 Technology Roadmap
4 Region 4.1 Market 4.1.1 Key Manufacturers and Suppliers 4.1.2 Business Challenge 4.1.3 Business Drivers 4.2 Applications 4.2.1 Electric Vehicle Brake Pads Market (by Propulsion Type) 4.2.2 Vehicle Brake Pads Market (by Vehicle Type) 4.3 Product 4.3.1 Electric Vehicle Brake Pads Market (by Type)
5 Markets - Competitive Benchmarking & Company Profiles 5.1 Competitive Benchmarking 5.2 Company profile 5.2.1 Company Overview 5.2.1.1 Product Portfolio 5.2.2 Business Strategies 5.2.2.1 Product Development 5.2.3 Competitive Position
