The automotive break shims market size is projected to reach US$ 574.38 million by 2031 from US$ 410.91 million in 2023. The market is expected to register a CAGR of 4.3% during 2023–2031. The rising adoption of electric vehicles is expected to drive the market is likely to remain a key trend in the market.
The major stakeholders in the global automotive brake shims market ecosystem include material providers, automotive brake shim manufacturers, standards & regulatory framing bodies, and end users. Material providers provide various materials to the automotive brake shims manufacturers, including rubber coated, PSA (Pressure Sensitive Adhesive) material, thermoset material, titanium, steel, iron, copper, and graphite. With the rising demand for automotive disc brakes across the globe, automotive brake shims manufacturers are also experiencing a rise in demand. Some of the major automotive brake shims manufacturers are Avery Dennison Corporation, Brembo S.p.A., BOSCH Auto Parts, Trelleborg Group, Meneta, Super Circle, NUCAP, Brake Performance, Delphi Technologies Plc, and TEXTAR Brake Technology.
The major end users of the automotive brake shims market include passenger cars and commercial vehicles. The disc brakes are majorly utilized in passenger cars. However, owing to their stable performance at resistance to brake and higher speeds, they are getting spread into the commercial vehicle segment. Drum brakes are getting replaced with disc brakes in commercial vehicles as they provide higher quality and longer service life. Therefore, the demand for automotive brake shims is increasing.
The rising passenger and commercial vehicles sales are fostering the global automotive brake shims market growth. The increasing demand for vehicles is positively impacting the global production cycle. As the demand for vehicles increases, the formation of regulatory mandates for making vehicles safer is rising. This leads to a surge in demand for disc brakes, penetration of anti-lock braking systems, and electronic stability control expansion. Therefore, government bodies of countries such as India have regulated safety-critical components within commercial and passenger vehicles, resulting in a rise in demand for automotive brake shims.
Moreover, fatalities caused due to vehicle accidents are one of the factors encouraging government bodies to introduce new norms for vehicles and road safety, which would help reduce fatalities. As a poor braking system is one of the causes of road accidents, establishing proper norms for using friction materials and braking systems is necessary. Below mentioned are some of the standards described by regional government bodies for braking systems:
Such laws for friction materials and disc brakes support the growth of automotive brake shims.
The critical component of any vehicle braking system is the disc brake pad. For example, stopping a heavy car traveling at 100 km/hour in a few seconds generates over 100 kW (kilowatt) of heat. That heat is transferred into the brake pads; temperatures can reach approximately 600°C and higher within seconds. Despite this, braking must be safe and smooth, with an increasing focus on health, safety, and the environment. Disc brake pad manufacturers must look for alternatives to traditional raw materials such as copper.
New friction materials must perform well under extreme braking conditions. Brake pads must give the same pedal feel and deceleration during repeated braking and sudden emergency stop in weather conditions such as wet or dry, muddy, or icy. Braking advancements are increasingly affecting automotive car manufacturers; also, several standards are imposed to ensure friction materials reduce emissions. Fine particulate emissions are becoming increasingly unwelcome in cities. And even EVs, which use regenerative braking that reduces wear and emissions, place their own demands on braking systems.
Key segments that contributed to the derivation of the automotive break shims market analysis are material type and application.
The geographic scope of the automotive break shims market report is mainly divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America.
Asia Pacific has dominated the market in 2023 followed by Europe and North America regions. Further, Asia Pacific is also likely to witness highest CAGR in the coming years. China accounted for the largest market share in Asia Pacific automotive break shims market in 2023. According to figures from the OICA, over 30 million vehicles (Cars and Commercial Vehicles) were produced in 2023 across the China region, with 26.12 million of them being passenger cars. As the Chinese automobile industry has grown, more carmakers have increased their understanding and auto part research and development. They not only identify tier-one braking system suppliers directly, but they also limit the number of brake pad suppliers and the friction material composition. As a result, China's demand for braking systems is increasing. The expansion of companies that create brake shims for vehicles and companies that supply brake shims for aftermarket services is influenced by the growing demand for braking systems. This has increased the demand for the automotive brake shims market in the region.
The regional trends and factors influencing the Automotive Break Shims Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Automotive Break Shims Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 410.91 Million |
| Market Size by 2031 | US$ 574.38 Million |
| Global CAGR (2023 - 2031) | 4.3% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Material Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Automotive Break Shims Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Automotive Break Shims Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The automotive break shims market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the automotive break shims market are listed below:
The “Automotive Break Shims Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
The estimated value of the automotive break shims market by 2031 would be around US$ 574.38 million.
The automotive break shims market is likely to register of 4.3% during 2023-2031.
Booming production of automotive vehicles and the growing norms for reducing fatalities caused by vehicle accidents are some of the factors driving the growth for automotive break shims market.
Avery Dennison Corporation, Brembo SpA, BOSCH Auto Parts, Trelleborg Group, Meneta Automotive Components Pvt Ltd, Super Circle, Nucap Industries Inc, Brake Performance, Delphi Technologies Plc, and TEXTAR Brake Technology are some of the key players profiled under the report.
Asia Pacific region dominated the automotive break shims market in 2023.
The growing adoption of electric vehicles is one of the major trends of the market.