The recent analytical report published by Markntel Advisors (a leading consulting, data analytics, and market research firm), US Automotive Brake Pad Market comprises a detailed study of critical and major aspects of market dynamics, i.e. market trends, size, forecasts, growth factors, challenges, and competitor landscape.
In-Depth Market Overview of US Automotive Brake Pad Industry (2022-2027):
According to the latest report, The US Automotive Brake Pad Market is expected to grow at a CAGR of around 4% during the forecast period, i.e., 2022-27. The report demonstrates the prominent factors propelling the exponential growth of the US Automotive Brake Pad industry.
Key Takeaways: Beneficial for Stakeholders and Clients:
- Historical Data: 2017-20
- Base Year: 2021
- Forecast Period: 2022-27
- CAGR – 4%
What are the major Driver the US Automotive Brake Pad industry?
Rising Automobile Production, Increasing Safety Concerns among Vehicle Owners, and Frequent Part Replacements – The improving economy of the US has led to a significant rise in the disposable incomes of consumers. Hence, their surging inclination toward private vehicle ownership has boosted vehicle sales in the country in recent years and, as a result, directly impacted the automotive brake pad industry.
On the other hand, the rapidly rising safety concerns among consumers due to increasing road accidents & casualties have instigated the US government to impose stringent rules for automakers to equip their vehicle fleet with advanced brake components. Thus, it is another prominent aspect contributing to the mounting sales of automotive brake pads in the country.
Nevertheless, rapid industrialization has led to a significant rise in trade activities across the US. Hence, more miles driven by commercial vehicles are leading to the early wear & tear of brake components. As a result, frequent brake pad replacements are augmenting the market expansion.
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US Automotive Brake Pad Market Segmentation
The US Automotive Brake Pad Market analysis of Markntel Advisors explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic. The further bifurcations are as follows:
- By Material Type
- Semi-Metallic
- Non-Asbestos Organic (NAO)
- Low-Metallic and Ceramic
- By Vehicle Type
- Passenger Car
- Light Commercial Vehicle (LCV)
- Heavy Commercial Vehicle (HCV)
- By Demand Type
- OEM
- Aftermarket
- By Region
- North East
- Mid-West
- West
- South
As per the regional aspect, the US Automotive Brake Pad Market is expected to be dominated by North America by capturing the potential market share.
Explore further details about this research report – https://www.marknteladvisors.com/research-library/us-automotive-brake-pad-market.html
Top Companies in the US Automotive Brake Pad Market
Brake Parts Inc LLC., MAT Holdings Inc., Bosch, ACDelco, Wagner, Ferodo, Muller Brakes, Brembo, Akebono Brake Industry Co. Ltd., EBC Brakes, Others
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