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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

·3-min read

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.

New York, July 08, 2021 (GLOBE NEWSWIRE) -- announces the release of the report "Electric Vehicle Brake Pads Market - A Global and Regional Market Analysis: Focus on Product, Application, and Country Assessment - Analysis and Forecast, 2021-2026" -
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.

Market Segmentation

Electric Vehicle Brake Pads Market by Type

The electric vehicle brake pads market has been segmented based on type, including organic, metallic, and ceramic.The metallic type segment is estimated to dominate the global electric vehicle brake pads market since they have better braking power in a wide range of temperatures.

Since metals are such excellent hot conductors, they can sustain further heat while assisting the braking systems in cooling down faster. Metal brake pads do not also compress as much as biological brakes.

Electric Vehicle Brake Pads Market by Propulsion Type

The electric vehicle brake pads market has been segmented based on propulsion type, including battery electric vehicle (BEV), plug-in hybrid vehicle (PHEV), and hybrid electric vehicle (HEV).The BEV segment is expected to be the front runner in the global electric vehicle brake pads market by propulsion type.

Government incentives, tighter regulations for carbon dioxide emissions, growth of the charging infrastructure, and falling EV battery prices are significant factors for the increasing demand for BEV.

Electric Vehicle Brake Pads Market by Vehicle Type

The electric vehicle brake pads market has been segmented based on vehicle type, including passenger cars and commercial vehicles.Passenger cars are the leading vehicle type in the global electric vehicle brake pads market.

Passenger cars make up a large percentage of electric vehicles globally. The dominant share of passenger cars among the different types of electric vehicles has contributed to the high demand for brake pads from the segment.

Electric Vehicle Brake Pads Market by Region

The electric vehicle brake pads market has been segmented based on region, including North America, Europe, the U.K., China, Asia-Pacific and Japan, and Rest-of-the-World (RoW). China is among the top leading countries in terms of EV production. The country is a hub of numerous electric vehicle manufacturers, which in turn, contribute to the demand for brake pads in the region.

Key Market Players and Competition Synopsis

Key players operating in the market, include NRS Brakes, TRW Aftermarket, ATE Brakes, Akebono, BorgWarner, Brembo S.p.A., Aisin, Bendix, TENNECO INC., Robert Bosch GmbH, EBC Brakes, Heng Yu Friction Ltd., Shandong Zibo Yihaojia Auto Parts Co., LTD, Nanjing Jiu Long Auto Parts Co., Ltd., and Fujian Huari Automotive Parts Co., Ltd.

The companies that are profiled in the report have been selected post undergoing in-depth interviews with experts and understanding details around companies such as product portfolios, annual revenues, market penetration, research and development initiatives, and domestic and international presence in the electric vehicle brake pads market.

Countries Covered
• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• France
• Rest-of-Europe
• U.K.
• China
• Asia-Pacific and Japan (APJ)
• Japan
• South Korea
• Rest-of-Asia-Pacific and Japan
• Rest-of-the-World (RoW)
Read the full report:

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