Report Overview

India Brake Pad Market is flourishing owing to expanding Indian automotive industry, increasing adoption of electric vehicles along with the growing demand for metal-free friction ceramic brake pads to safely reduce speed or stop the vehicle safely when necessary...

India Brake Pad Market - Industry Trends & Forecast Report 2028

India Brake Pad Market was worth USD 4.75 billion in 2021 and is further projected to reach USD 8.54 billion by the year 2028, exhibiting a CAGR of 8.9% during the forecast period (2022-2028). The rapid expansion of the market is predominantly due to the rapidly growing fleet of cars and expanding fleet size across the country. Also, the key reasons driving demand in the India Brake Pad Market are the growing popularity of electric and hybrid vehicles. Moreover, ongoing technological advances and supportive government policies encouraging the automobile industry are likely to boost the India Brake Pad Market growth during the forecast period. In addition, market participants are spending on research and development to offer creative solutions as well as enhance existing infrastructure. They are putting in various sensors and attempting to reduce the stopping distance of automobiles. Additionally, during the forecast period (2022-2028), the introduction of friction-free materials is expected to provide profitable potential prospects for the Indian Brake Pad Market.

Brake Pad - Overview

The material used to make brake pads is Semi-metallic, Non-asbestos Organic (NAO), Low-metallic NAO, and Ceramic. Brake pads are essential components of disc brakes, which are used in automobiles to slow or stop the vehicle. Through friction, brake pads convert a vehicle's kinetic energy to thermal energy. The brake contains two brake pads, one on each side of the rotor, with their friction surfaces facing the rotor. The caliper clamps or squeezes the two pads together onto the spinning rotor when the brakes are applied hydraulically to slow and stop the vehicle. In addition, brake pads also produce less heat than shoe brakes, resulting in improved braking effectiveness. Furthermore, when compared to the shoe brake assembly, the installation and overall system of the brake pad are simple.

India Brake Pad Market Forecast and Trends

Growth Drivers

Expanding Indian Automotive Industry

In India, the automotive sector is one of the most important foundations of industrial development. India has surpassed Germany to become the world's fourth-largest car market, according to a report released by the Organisation Internationale des Constructeurs d'Automobiles (OICA). China occupied the first, followed by the United States and Japan. In addition, after Japan and China, India is Asia's third-largest automotive market. Almost every major global vehicle manufacturer now has a presence in India. Moreover, increased sales of passenger cars, two-wheelers, commercial vehicles, three-wheelers, and off-the-road (OTR) vehicles have made the country one of the major brake friction markets. Furthermore, because India's motorization rate is still lower than that of developed nations, the country provides significant growth potential in the automotive and related sectors, offering prospects for brake pads, brake shoes, and brake linings makers and suppliers.

Increasing Electric Vehicles Production is Driving India Brake Pad Market

To lessen the impact of greenhouse gases on the environment, the government is supporting the use of electric vehicles for daily transportation. Under (faster adoption and manufacturing of electric vehicles) FAME I and II, the development of initiatives such as the National Electric Mobility Mission Plan (NEMMP) is encouraging consumer adoption of electric and hybrid vehicles. Moreover, electric passenger cars, two-wheelers, and light-duty commercial electric vehicles are becoming more popular every day. Due to the increased adoption of electric vehicles, the need for brake pads is expected to rise in the future years. All-electric vehicles require brake pad attachments for the regeneration of electricity for charging batteries by converting kinetic energy back into electrical energy and storing it in energy storing devices like batteries, ultracapacitors, etc. Thus, the demand for brake pads is increasing as end-users choose zero-emission hybrid electric vehicles (HEVs) and battery electric vehicles (BEVs) boosting the growth of the India Brake Pad Market during the forecast period (2022-2028).

Surging Demand for Metal-Free Friction Materials

The brake pads are extremely important in the vehicle's braking system. The development of the vehicle industry leads to the development of friction material industries. Due to their low braking efficiency and high-disc wear rate, consumers have been switching to ceramic brake pads from metallic brake pads, asbestos brake pads, and semi-metallic brake pads in recent years. Furthermore, when braking, metallic brake pads, asbestos brake pads, and semi-metallic brake pads release more heat and produce dangerous dust. Ceramic brake pads are also rust-free, have a higher temperature resistance, and have better thermal stability. All these factors boost the growth of the India Brake Pad Market during the forecast period (2022-2028).

Restraints

The major and organized suppliers are increasingly concerned about the availability of replacement brake friction materials and components in the aftermarket. The market alternative components are inexpensive, but they are manufactured of inferior materials. Customers like to buy these products since they are less expensive and prefer to purchase without looking over the quality of the products. These items do not adhere to OEM requirements, which can cause major mechanical issues and system failure, which can cause accidents as well. All these factors hinder the growth of the India Brake Pad Market.

Impact of COVID-19 on India Brake Pad Market

The COVID-19 pandemic-induced lockdown and economic crisis have affected several original equipment manufacturers. Many suppliers experienced substantial resource constraints in their material supply and logistics chains throughout the year, which had a notable negative impact on their operations. Furthermore, supply chain disruptions have a significant impact on the India Brake Pad Market. However, the market, on the other hand, is improving and is likely to return to normal as the government's assistance grows. During the forecast period (2022-2028), the market is expected to rise due to the quickest recovery rates in some regions and rising electric vehicle sales. This in turn is anticipated to surge in the demand for brake pads leading to the growth of the India Brake Pad Market. 

India Brake Pad Market - By Vehicle

Based on the vehicle, the India Brake Pad Market is segmented into Passenger Car, LCV, HCV, and Two-wheelers. Among these, Passenger Car accounts for the largest share in the India Brake Pad Market. This is because Passenger automobile sales and production are increasing continuously in India. For instance, India is the 4^th largest passenger vehicle producer in the world. In 2021, it produced 3.6 million passenger cars. Another factor that will help passenger cars to continue their dominance is due to the increased demand for fuel-efficient vehicles. All these factors are expected to propel the growth of India Brake Pad Market in the coming years.

India Brake Pad Market – By Material

Based on material, the India Brake Pad Market is segmented into Semi-metallic, Non-asbestos Organic (NAO), Low-metallic NAO, and Ceramic. Among these, the Ceramic segment holds the largest market share owing to its high stability and ability to perform in a wide range of temperatures. Ceramic brake pads are commonly seen in high-performance vehicles since they emit minimal dust and noise. Moreover, semi-metallic materials hold the second-largest share in the India Brake Pad Market due to their capacity to deliver high-shear strength and bonding. All these factors boost the growth of the India Brake Pad Market during the forecast period (2022-2028).

India Brake Pad Market - By Sales Outlet

Based on sales outlets, the India Brake Pad Market is segmented into OEM and Aftermarket. The OEM (Original Equipment Manufacturer) segment now has the biggest market share and is likely to continue to do so during the forecast period (2022-2028). OEMs are currently investing in research and development to provide lightweight and eco-friendly components that meet government standards. Furthermore, OEM brake pads are always of the highest quality and are also suitable for all-purpose use. It is designed to be quiet, effective on the road, and long-lasting, and it performs admirably outside of the showroom. Aftermarket brake pads, on the other hand, will stop even better, last longer, and cost far less than OEM brake pads. This influences the aftermarket segment to dominate the market share in the upcoming years.

Competitive Landscape

The leading market players in the India Brake Pad Market are Brakes India Private Limited, Rane Holdings Limited, Endurance Technologies Limited, ASK Automotive Pvt. Ltd., Brembo Brake India Pvt. Ltd., Makino Auto Industries Pvt. Ltd., Masu Brake Pads Pvt.Ltd, Allied Nippon Ltd, Sagestics India Brakes Private Limited, Ceratech Friction Composites, and other prominent players.

The India Brake Pad Market is highly fragmented with the presence of several manufacturing companies in the country. The market leaders retain their supremacy by spending on research and development, incorporating cutting-edge technology into their goods, and releasing upgraded items for customers. Various tactics, including strategic alliances, agreements, mergers, and partnerships, are used.

Recent Development

• In February 2022, Brakes India introduced TVS Apache Elite, high-performance brake pads to provide improved braking at high speeds and in steep terrain. The brake pads are also stripe coated with Abracoat technology, a one-of-a-kind abrasive coating that improves initial friction performance.

Scope of the Report

By Vehicle

• Passenger Car
• LCV
• HCV
• Two-wheelers

By Material

• Semi-metallic
• Non-asbestos Organic (NAO)
• Low-metallic NAO
• Ceramic

By Sales Outlet

• OEM
• Aftermarket

By Position

• Front
• Front & rear