The new report by Expert Market Research titled, ‘Global Two-Wheeler Brake Pads Market Size, Share, Price, Trends, Growth, Report and Forecast 2021-2026’, gives an in-depth analysis of the global two-wheeler brake pads market, assessing the market based on its segments like type, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026):
• Forecast CAGR (2021-2026): 9.2%
The demand for two-wheeler safety solutions has been steadily increasing in recent years. Safety is a priority for both riders and pedestrians. In an emergency, the braking system regulates the vehicle’s speed and prevents accidents. The distance and reaction time available for the rider to apply the brakes is reduced when an obstacle appears suddenly in front of the two-wheeler. In such a situation, an efficient and effective braking system is advantageous. Rising demand for two-wheelers in Asia Pacific and Africa, including India, China, ASEAN countries, Nigeria, Egypt, and South Africa, is expected to significantly increase demand for two-wheeler brake pads. Several major manufacturers of two-wheelers and two-wheeler components, such as braking systems and tires, are increasing their investments in Middle Eastern and African developing countries.
Industry Definition and Major Segments
In two-wheelers with disc brakes, brake pads are an essential component as they are subject to wear and tear owing to friction. The manufacture of brake pads necessitates the use of a material with high co-efficient of friction.
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The two-wheeler brake pads market, based on type, can be segmented into:
• Motorcycle
• Scooter
Based on region, the market is segmented into:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Market Trends
The demand for two-wheelers in emerging nations, combined with safety solutions in two-wheelers, has been steadily increasing in recent years, which is predicted to considerably fuel demand for two-wheeler brake pads. However, they are noisier than conventional brakes, which may limit the two-wheeler brake pad market’s growth. Furthermore, metal is a popular choice for brake pads; however, this is changing due to the large braking effect that metal brake pads cannot provide. As a result, the two-wheeler brake pads market is expected to see a number of changes. The need for brake pads has increased dramatically in recent years, owing to fast growth in the two-wheeler industry as well as the whole automotive industry. Increased customer awareness of safety and security, as well as environmental issues, is driving customers to choose high-quality items on the market. Over the forecast period, this is expected to propel the brake pads market forward. Because of the rising number of road accidents around the world, customers’ awareness of safety and security while driving has increased, causing them to recognize the need of safety solutions. Many customers place a high value on safety when acquiring a vehicle, which is projected to fuel the expansion of the two-wheeler brake pad market. China’s automotive sector is rapidly increasing. In the country, there is a large demand for two-wheelers for shorter commutes. The availability of a big consumer base, high preference as a form of transportation, and affordability are all significant elements propelling the country’s two-wheeler market forward. As the number of two-wheelers grows, so does the demand for two-wheeler brake pads, as consumers prioritise safety when purchasing two-wheelers.
Key Market Players
The major players in the market are Scandinavian Brake Systems AS, DRIV Incorporated, EBC Brakes, Lyndall Racing Brakes LLC, Nisshinbo Brake Inc. [Nisshinbo Holdings Inc.], among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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