Global Brake Shoe Market Size Accelerates Toward USD 20.72 Billion by 2030, Driven by Electrification & Aftermarket Growth
Mergers & Acquisitions / Recent Developments
The brake shoe market has witnessed several mergers and acquisitions aimed at enhancing product portfolios and expanding market reach. Companies are focusing on strategic partnerships and collaborations to develop advanced braking systems and cater to the evolving needs of electric and hybrid vehicles. These strategic moves are expected to streamline operations and enhance technological capabilities within the industry.
Recent developments in the market include the introduction of biodegradable brake pad lines targeting emissions compliance, as seen with companies like Continental AG. Additionally, companies like Bosch have expanded their manufacturing footprint with new plants focusing on EV-compatible brakes. Such initiatives reflect the industry’s commitment to innovation and sustainability in response to environmental regulations and changing consumer preferences.
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Competitive Landscape
Leading players are enhancing their market footprint through innovation and strategic partnerships. Prominent companies in the global landscape include Robert Bosch GmbH, Advics, Continental AG, Federal-Mogul Corporation, AKEBONO Brake Corporation, Hyundai Mobis, Valeo S.A., and Brembo SpA.
Higher Demand in Asia Pacific
The Asia Pacific region is expected to lead with the highest growth, driven by booming automotive sectors in China and India and competitive manufacturing ecosystems. This region also benefits from significant vehicle production hubs and rising aftermarket activity.
Country-Specific Insights
Growth Opportunities in Vietnam
Vietnam’s rising vehicle ownership and robust foreign direct investments have led to expansions in domestic manufacturing. Companies are entering joint ventures, encouraged by government incentives and a youthful consumer base.
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Automotive Trends in Thailand
Thailand is a regional export hub with increasing adoption of electric and hybrid vehicles. The growing need for specialized braking components has drawn foreign manufacturers to invest in local facilities.
Consolidation in Japan
Japan is experiencing consolidation among brake system manufacturers. AKEBONO Brake Corporation has pursued M&A activity to stay competitive amid a transition to EV-focused braking systems.
Technological Growth in South Korea
South Korean firms are innovating around lightweight and high-performance brake shoes. Collaborations with EV manufacturers are intensifying to meet rising demand for regenerative braking systems.
Investment Opportunities in Singapore
While not a production-heavy market, Singapore plays a strategic role as a logistics and R&D hub. Companies are using it as a base for innovation in smart mobility brake components.
Market Expansion in the United States
The U.S. market benefits from stricter safety regulations and a booming SUV and truck segment. Federal-Mogul and Bosch are expanding their aftermarket portfolios through M&A to address rising domestic demand.
Industrial Growth in China
China’s brake shoe market is booming, fueled by both its massive internal combustion and electric vehicle markets. Local giants are entering global partnerships to co-develop technology for cleaner, smarter braking systems.
Regulatory Updation in Europe
Europe’s environmental directives have prompted significant R&D in eco-friendly friction materials. M&A is being driven by sustainability initiatives, with companies like Continental AG acquiring startups in green tech.
Key Recent Developments
- AKEBONO finalized a partnership in Japan for developing smart brake sensors tailored for EVs.
- Bosch expanded its North American manufacturing footprint with a new plant in the U.S. focusing on EV-compatible brakes.
- In China, Nisshinbo entered a JV with a domestic automaker to supply lightweight brake systems.
- Continental launched a biodegradable brake pad line in Germany targeting emissions compliance.
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Market Segmentation: In-Depth Analysis:
by Type
Leading/Trailing
Twin Leading
Duo-Servo
by Vehicle Type
Passenger Vehicle
Commercial Vehicle
According to vehicle type, the passenger vehicle market is projected to increase at the quickest rate, with a compound annual growth rate (CAGR) of XX% over the course of the projection period. Due to its large unit sales of 63.73 million, the passenger car category topped the market in 2023. Increased use of passenger cars is helping to propel the brake shoe industry through this sector. Similar to this, the global brake shoe market is growing due to a number of factors, including rising standards of living, increased purchasing power, rising per capita income, increasing industrialization, changing lifestyles, and high disposable income.
by Sales Channel
OEM
Aftermarket
The aftermarket category held the greatest market share by sales channel in 2023 and is anticipated to hold this position throughout the forecast period. The aftermarket sales of automotive PCV values are anticipated to be fueled by the existence of a well-organized aftermarket industry in emerging nations, as well as the high penetration of automobiles with easy access to parts, low cost, skilled technical team, and availability of good service facilities and service stations. The expansion of this market segment is anticipated to be driven by the increasing desire for aftermarket items in both established and emerging nations as a result of socioeconomic progress.
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Market Key Players : In-Depth Analysis:
1. Mando
2. ICER
3. Meritor Inc
4. Sangsin
5. Federal-Mogul
6. Brembo
7. TRW
8. Xinyi Auto
9. Bosch
10. Delphi
Note:
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