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The MEA & Pakistan brake pad market was valued at USD2,656.71 million in 2020, and is projected to reach USD3,769.52 million by 2026, growing at a significant CAGR of 5.64% during the forecast period, 2022-2026.
The rise in demand for advanced and lightweight friction materials such as ceramics to improve the brake pad efficiency to work in a wide range of temperatures is expected to fuel the MEA & Pakistan brake pad market’s growth. Growth in the per capita income of customers is increasing the expenditure capacity, which in turn is boosting the sales of automobiles.
The increasing awareness among consumers about the harmful effects of carbon emissions on the environment is contributing to the surge in the demand for eco-friendly vehicles, thereby influencing the demand of the MEA & Pakistan brake pad market. The development of advanced technologies and their integration into vehicles is increasing the demand for automobiles. The growing penetration of internet services in the MEA & Pakistan region and the proliferation of smart devices is increasing the sales through online channels.
Availability of brake pads, automobile parts & components on e-commerce sites and applications is expected to propel the market’s growth owing to enhanced consumer experience and lucrative discounts and offers. The rise in the demand for an effective brake pad system for driving through high speed is paving the way for the MEA & Pakistan brake pad market growth.
The incorporation of regulations related to the use of copper in brake pads is a leading trend witnessed in the market. Asbestos and copper are the major constituents of vehicular brakes due to their heat resistance and strength capabilities. Moreover, as these products start to break apart and disintegrate on continuous use, they become hazardous because of the non-recycling property. Thus, many countries are working on reducing the use of copper and other materials in motor vehicle brake pads.
Moreover, growing private label brands and low-cost Chinese brands is another important trend witnessed in the market. In MEA & Pakistan, a higher trajectory sales growth in the private label and store brands by retailers and distributors has been witnessed over the last five years. The growth is supported by competitive pricing and product quality found at in comparison to other premium flagship brands. The sale of brake pads by Chinese manufacturers is also increasing due to their economical cost.
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MEA & Pakistan brake pad market is segmented into vehicle type, regional distribution, and company. Based on the country analysis, Iran is expected to account for the major MEA & Pakistan brake pad market share for the forecast period, 2022-2026. The growing demand for passenger cars in the country owing to rise in the disposable income of the consumers is driving the growth of the brake pad market. High-end investments by the market players for the research and development activities and the presence of supportive government policies to promote the automotive industry are expected to fuel the market growth.
The major players operating in the MEA & Pakistan Brake Pad market
FBK Manufacturing Malaysia Sdn Bhd
Robert Bosch (Pty) Ltd
Safeline Brakes (G.U.D. Holdings)
Alfred Teves Brake Systems (Pty) Ltd.
Years considered for this report
Historical Years2016-2019
Base Year2020
Estimated Year2021
Forecast Period2022-2026
Objective of the Study
- To analyze the historical growth and market size of MEA & Pakistan brake pad market from 2016 to 2020.
- To estimate and forecast the market size of MEA & Pakistan brake pad market from 2021 to 2026 and growth rate until 2026.
- To classify and forecast MEA & Pakistan brake pad market based on vehicle type, regional distribution, and company.
- To identify drivers and challenges for MEA & Pakistan brake pad market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in MEA & Pakistan brake pad market.
- To identify and analyze the profile of leading players operating in the MEA & Pakistan brake pad market.
Market Insights Research performed both primary as well as exhaustive secondary research for this study. Initially, Market Insights Research sourced a list of manufacturers across the region. Subsequently, Market Insights Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, Market Insights Research could include the manufacturers which could not be identified due to the limitations of secondary research. Market Insights Research analyzed the manufacturers, distribution channels and presence of all major manufacturers across the region.
Key Target Audience
- Brake pad manufacturers and other stakeholders.
- Research organizations and consulting companies
- Trade associations, organizations, forums, andalliances related to Brake pad market
- Government bodies such as regulating authoritiesand policy makers
- Industry associations
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
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