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.
Automotive Break Shims Market Analysis
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.
Automotive Break Shims Market Overview
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.
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Automotive Break Shims Market: Strategic Insights
Market Size Value in US$ 540.78 Million in 2021 Market Size Value by US$ 705.11 Million by 2028 Growth rate CAGR of 3.9% from 2021 to 2028 Forecast Period 2021-2028 Base Year 2021
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Automotive Break Shims Market: Strategic Insights
| Market Size Value in | US$ 540.78 Million in 2021 |
| Market Size Value by | US$ 705.11 Million by 2028 |
| Growth rate | CAGR of 3.9% from 2021 to 2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
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Automotive Break Shims Market Drivers and Opportunities
Growing Norms for Reducing Fatalities Caused by Vehicle Accidents
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:
- As per the LEGISLATIVE COUNSEL'S DIGEST article of January 2021, friction materials containing over 0.5% copper are prohibited from application in new vehicles commencing in 2025. Thus, companies such as Akebono have already begun following such laws. The company’s department engaged in producing and distributing friction materials and collaboratively working globally to comply with the new law. The company has already developed friction materials described by the new law.
- New rules have come into the market, directly impacting the braking system. Since November 2016, the replacement of brake discs on newly registered vehicles should follow compliance with the ECE R90 (ECE Regulation 90 or Economic Commission for Europe Regulation 90) quality standard. This quality standard is implemented across the European Union and in non-European countries. Since November 1, 2016, all passenger cars of every model have complied with ECE R90 brake discs and drums. Companies such as MEYLE provides brake discs that already comply with the new standard. Similarly, AF Aftermarket is also obeying with new ECE R90.
Such laws for friction materials and disc brakes support the growth of automotive brake shims.
Advancements in Automotive Brake Technology
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.
Automotive Break Shims Market Report Segmentation Analysis
Key segments that contributed to the derivation of the automotive break shims market analysis are material type and application.
- Based on material type, the automotive break shims market is segmented into rubber coated, PSA material, thermoset material, and others. The others segment held a larger market share in 2023.
- Based on application, the automotive break shims market is segmented into two wheeler, passenger vehicle, and commercial vehicle. The passenger vehicle segment held a larger market share in 2023.
Automotive Break Shims Market Share Analysis by Geography
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.
Automotive Break Shims Market Report Scope
Automotive Break Shims Market News and Recent Developments
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:
- Bosch and the Volkswagen Group subsidiary Cariad are entering into a partnership to enhance the automated driving functions across all vehicle classes. (Source: Bosch, Press Release, 2022)
- TMD Friction, parent company of Textar has released 825 new products to its whole product line. This step allows TMD Friction to offer largest coverage of all brake friction manufacturers. (Source: TMD Friction, Press Release, 2022)
Automotive Break Shims Market Report Coverage and Deliverables
The “Automotive Break Shims Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Automotive break shims market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Automotive break shims market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST analysis
- Automotive break shims market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the automotive break shims market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Material Type, and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
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.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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