Automotive Brake Shoe Market Research Report - Global Forecast till 2030

Automotive Brake Shoe Market Research Report Information By Type (Leading/Trailing, Twin Leading and Duo-Servo Type), Vehicle Type (Passenger Cars, Light Commercial Vehicles and Heavy Commercial Vehicles), Sales Channel (OEM and Aftermarket) and Region (North America, Europe, Asia-Pacific and the Rest of the World) - Forecast till 2030

ID: MRFR/AM/8818-HCR | 110 Pages | Author: Swapnil Palwe | March 2024         

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Automotive Brake Shoe Market Overview

In 2020, the global automotive brake shoe market size is witnessed at USD 7,398.30 million which is expected to reach USD 15 billion with a significant CAGR rate of 7% during the forecast period 2022-2030.

A brake shoe is a curved piece of metal that is a part of a vehicle’s brake system. It carries the brake lining inside the brake drum systems. This metal is incorporated with a friction material that is fixed aside. During the operation of brakes, the automotive brake shoe is placed on the inside of the drum and forces the brake shoe to move, and presses the lining that is placed outside against the drum's interior. Then the friction between the drum and lining provides the braking effort, here the energy is dissipated as heat. Brake shoes are majorly affecting the vehicle’s brake. Even though their functions are the same, brake shoes and brake pads are not similar. Several innovations in the brake shoe market have been introduced in recent years.

This automotive brake shoe system requires very little effort for monitoring the vehicle speed, generating minimal sound & vibration. Brake pads produce less heat than drum brakes. Due to the low heat, it causes lesser damage to the disks and rising their durability. Furthermore, low noise characteristics and a stable coefficient of friction improve the efficiency of the vehicle.  Growing demand for effective braking during high speeds is accelerating the brake pad market. Hence the brake pads are expected to foster and expand the automotive brake pads market in the review period.

COVID-19 Analysis:

Due to the COVID-19 outbreak, the whole world has been severely affected. The implementation of lockdowns and restrictions on various business works results in the loss of businesses. In the same way, the restrictions on the producers and supply chain disruption are limiting the automotive brake pad manufacturers around the world. Due to the lockdown over the past few months, the demand and supply cycle of several automotive brake pad manufacturers is declined.

As the lockdown implementation, the manufacturing industries face a lot of problems like lack of raw materials, shortage of workers, and supply chain disruptions which result in stoppage of production and installation across the affected countries. Hence, owing to the pandemic, the automotive brake shoe market is negatively impacted for the year 2020. Further the post-lockdown period, the global market is rapidly increasing its market value by recovering the loss created by the pandemic.

Market Dynamics:

  • Drivers:

Owing to the rapid expansion of the automobile sector, the demand for the automotive brake shoe is enhancing. Growing demand for passenger vehicles incorporated with lightweight frictional materials is boosting the market growth. Growing demand for commercialization due to rapid industrialization, modernization, and growth of the construction industry is driving the automotive brake shoe market growth. Rising per capita disposable income levels of consumers, innovations in electro-mobility like electric vehicles (EVs) are influencing the market growth.

Moreover, surging personal disposable income is propelling market growth. Introducing the advanced technologies for the development of lightweight & environment-friendly braking systems, a rise in vehicle production across the world, and government initiatives like reduced stopping distance & pedestrian protection are the factors accelerating the market growth. Superior brake efficiency along with growing disk brake adoption in automobiles is fueling the market growth.

  • Restraint:

Growing demand for disk brakes in vehicles is restraining the market growth. Moreover, increasing raw material prices like copper, and stringent government regulations like toxic substance control are expected to hinder the market growth.

  • Opportunities:

Regular introduction of advancements in braking systems like smart brake pad technology and the development of organic fibers like palm kernel shell that meets emission regulations are creating opportunities for the vendors to expand the market growth. Moreover, the technology supports the optimization of safety systems along with electronic stability control and anti-lock braking systems are boosting the market growth.

  • Challenges:

Overheating of brake shoes and rising strict regulations related to heating of brake systems is one of the major challenges of the market growth.

Study Objectives -

  • To offer complete information about the automotive brake shoe market structure along with various forecast segments and subsegments for the coming 7 years.

  • To provide the insights that are impacting the growth of the automotive brake shoe market value.

  • To study the automotive brake shoe market industry analysis based on factors-price analysis, supply chain analysis, etc.

  • To provide history and coming year's revenue segments and sub-segments of the automotive brake shoe market revenue for the four main geographies.

  • To provide region-level analysis of the current automotive brake shoe market size and future prospective.

  • To provide a country-level analysis of the market industry growth by region, type, sales channel, and vehicle type.

  • To provide an entire profile of the prominent key competitors in the market, analyze their core competencies, and draw a global market growth landscape.

  • To track and analyze new product developments, mergers, joint ventures, improvements in existing products, strategic alliances, and global market research.

Segment Overview:

The global automotive brake shoe market has been divided into segments based on type, vehicle type, sales channel, and region.

Based on Type

The automotive brake shoe market types are trifurcated into leading/trailing, twin leading, and duo-servo types.

Based on Vehicle Type

The automotive brake shoe market by vehicle type is classified into various forms such as passenger cars, light commercial vehicles, and heavy commercial vehicles. Among them, the passenger car segment is dominating the largest market share due to the rising automotive production.

Based on Sales Channel

By sales channel, the automotive brake shoe market is split into OEM and aftermarket. Out of these, the OEM segment holds the highest market share.

Based on Region

Regionally, the global automotive brake shoe market is sectioned into four main geographies like Asia-Pacific, North America, Europe, and the Middle East & Africa. Among them, Asia-Pacific is accounting for the largest market share due to the high adoption of automotive brake shoes.

Regional Analysis -

Geographically, the automotive brake shoe market is partitioned into four major regions like Europe, Asia-Pacific, North America, and the Middle East & Africa. Out of these regions, Asia-Pacific is holding the largest automotive brake shoe market share due to the high adoption of automotive brake shoes and surging automotive production. Moreover, the growing demand for both passenger and commercial vehicles is escalating the market growth in this region. Europe is predicted to hold the second-largest market share due to a growing demand for passenger cars and stringent regulations for the safety of vehicles.

Competitive Landscape

The prominent key players in the automotive brake shoe market outlook are the following:

  • Bosch Auto Parts (Germany)

  • Working (Spain)

  • Meritor, Inc (US)

  • Brake Parts In7‚Ā∑c. LLC (US)

  • ASK Automotive Pvt. Ltd. (India)

  • TRW Automotive (US)

  • BNA Automotive India Pvt Ltd (India)

  • ACDelco (US)

  • Tribo (Ukraine)

  • MAT Holdings Inc (US)

  • Kampol Company (Poland)

  • SBS Friction A/S (Denmark).

Recent Developments

  • In November 2019, a well-known organization, NRS Brakes Company introduced the galvanized brake pads product line which protects from rust to all the brake parts, including calipers and rotors.

  • In March 2020, one of the famous enterprises, ZF Friedrichshafen AG introduced an electric park brake. These brakes can be equipped with advanced braking systems in small vehicles and car manufacturers can do interior designing.

  • In April 2020, a popular company Veoneer took an initial agreement to divert the US brake control business to ZF Friedrichshafen AG for expanding their market in different regions all over the world

Report Outlook:

This global automotive brake shoe market research includes the Market Overview, COVID-19 analysis, Market Dynamics, Study Objectives, Segment Overview, Regional Analysis, Competitive Landscape, Recent developments, Segmentation Table, and FAQs. The market scenario includes the automotive brake shoe market drivers, restraints, challenges, and opportunities. The automotive brake shoe market forecast segments are type, vehicle type, sales channel, and region.

Report Scope:

Report Attribute/Metric Details
  Market Size   2030 : USD 15 Billion
  CAGR   7% CAGR (2022 to 2030)
  Base Year   2021
  Forecast Period   2022 to 2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered Automotive Brake Shoe Type, Vehicle Type, Sales Channel
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors  Bosch Auto Parts (Germany), BNA Automotive India Pvt Ltd (India), Woking (Spain), ACDelco (US), Meritor, Inc. (US), Tribo (Ukraine), Brake Parts Inc. LLC. (US), MAT HOLDINGS INC. (US), ASK Automotive Pvt. Ltd. (India), Kampol company (Poland), S.L. (Spain), SBS Friction A/S (Denmark) and TRW Automotive (US)
  Key Market Opportunities   Resistance of braking systems to wear and tear and rising aftermarket sales
  Key Market Drivers Increasing per capita disposable income levels of consumers support from the respective governments through standards and regulations adoption of automotive brake shoes\r\n 

Frequently Asked Questions (FAQ) :

Global automotive brake shoe market is projected to grow at approximately 7% CAGR during the assessment period (2022-2030).

The valuation of the global automotive brake shoe market is estimated to increase to USD 15 BN by the end of 2030.

BNA Automotive India Pvt Ltd (India), Bosch Auto Parts (Germany), Woking (Spain), Meritor, Inc. (US), ACDelco (US), Tribo (Ukraine), MAT HOLDINGS INC. (US), Brake Parts Inc. LLC. (US), ASK Automotive Pvt. Ltd. (India), S.L. (Spain), Kampol company (Poland), SBS Friction A/S (Denmark), and TRW Automotive (US), are some of the top players operating in the global automotive brake shoe market.

The Asia Pacific region holds the largest share in the global automotive brake shoe market, followed by North America and Europe, respectively.

The development and innovations in electro-mobility such as electric vehicles (EVs) and the spurring growth in the automotive industry worldwide are the major factors driving the growth of the global automotive brake shoe market.

Key Questions Answered

  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players‚Äô financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
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