Market Overview
Brake system is an essential component of vehicle and thus require continuous scrutiny from the manufacturers. Brake pads are used in disc brakes while brake shoes are used in drum brakes. Brake pads convert kinetic energy to thermal energy of the car with the use of friction. Brake shoes are used to offer friction to the brake system. Brake shoes can be recycled or re-manufactured as compared to the brake pads. Track control arm is a link between suspension, which comprises wheel and the chassis. Track control arm needs to be replaced within due course of time in order to avoid any damage. Also, due to worn out of ball joint, the replacement need for control arm occurs.
Globally, the manufacturers are focused on developing brake pads, shoes and track control arm to ensure safety measures, durability and driver comfort. On the basis of vehicle usage, engine performance and vehicle weight brake pads and brake shoes are installed on the vehicle. This is intended primarily to ensure efficient braking facilities at high speeds, extended service life to offer better resistance to wear and less brake noise. Growing demand for miniaturisation of components is one of the key factors bolstering the brake pads, shoes and track control arm market growth across the globe. Also, increasing automobile production in countries such as India offer diverse opportunities for players to invest in. This is further attributed to demand for premium products and new entrants especially entering the brake pads aftermarket.
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Brake Pads Shoes Track Control Arm Market: Dynamics
Comfort, performance and safety are key pointers gaining significant traction among automotive manufacturers. The aforementioned concerns coupled with technological advancements are resulting in development of advanced products particularly related to brake pads and control arms, which has further led towards development of efficient products ensuring compliance with quality standards.
Moreover, increasing vehicle age is another factor fuelling the demand for brake pads and brake shoes in the automotive aftermarket. Also, surging transportation and raw material costs are predicted to contribute significantly to the price inflation for these products. Regulatory compliance in terms of brake pads, shoes and track control arm manufacturing in order to ensure environmental concerns while manufacturing is restring the market growth. In the aftermarket, increase in miles travelled along with long replacement cycle are anticipated to create opportunities for players in the next five to six years.
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Brake Pads Shoes Track Control Arm Market: Segmentation
Brake pads, shoes and track control arm market is segmented on the basis of brake pads type, distribution channel and vehicle type. On the basis of brake pads, the market is segmented into semi metallic, no asbestos organic, low-metallic NAO and ceramic. Different distribution channels for brake pads, shoes and track control arm include warehouse distributors, automobile dealers and original equipment service providers.
On the basis of vehicle type, the segmentation includes passenger cars and commercial vehicles. The commercial vehicles segment is further sub-segmented into light commercial vehicles, heavy trucks, buses and coaches. Geographically, brake pads, shoes and track control arm market is segmented into seven regions namely North America, Western Europe, Japan, Asia Pacific Excluding Japan, Middle East and Africa and Latin America.
Brake Pads Shoes Track Control Arm Market: Key Players
Some of the players in the brake pads, shoes and track control arm market include ZF TRW, Brembo S.p.A., EBC Brakes, Akebono Brake Corporation, Continental AG, Delphi Automotive Plc., Federal-Mogul Corporation, Robert Bosch GmbH, Japan Brake Industrial Co. Ltd., and TMD Friction Holdings GmbH among others. The overall brake pads, shoes and track control arm market is fragmented in nature with players focused on developing premium products to ensure safety and quality compliance.
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