Automotive Brake Components Aftermarket to Grow at 6.64% CAGR Through 2029

The natural aging of vehicles and the increasing global vehicle parc contribute to a continuous demand for replacement brake components are the factors driving market in the forecast period 2025-2029.

 

According to TechSci Research report, “Automotive Brake Components Aftermarket – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2029”, the Global Automotive Brake Components Aftermarket stood at USD 33.74 Billion in 2023 and is anticipated to grow with a CAGR of 6.64% through 2029. The global automotive brake components aftermarket serves as a vital segment within the automotive industry, encompassing a diverse array of products and services that cater to the maintenance, repair, and enhancement of braking systems in vehicles worldwide. This aftermarket sector plays a crucial role in ensuring the safety and reliability of vehicles on the road, as brakes are essential for vehicle control and accident prevention. With the burgeoning global automotive fleet and the increasing emphasis on vehicle safety standards, the aftermarket for brake components has witnessed significant growth and evolution in recent years.

One of the primary drivers fueling the growth of the automotive brake components aftermarket is the expanding global automotive fleet. As the number of vehicles in operation continues to rise across various regions, the demand for brake maintenance and replacement components naturally follows suit. Moreover, the increasing average age of vehicles on the road contributes to the need for brake system upgrades and replacements, as older vehicles typically require more frequent maintenance and part replacements to ensure optimal performance and safety standards.

Technological advancements and innovations in brake system technologies have also been instrumental in shaping the automotive brake components aftermarket landscape. Manufacturers are continually developing new and improved braking solutions, incorporating features such as advanced materials, electronic braking systems (EBS), regenerative braking systems, and brake-by-wire technologies. These innovations not only enhance braking performance but also create opportunities for aftermarket providers to offer upgraded brake components and retrofitting services to vehicle owners seeking improved safety and performance.

Additionally, regulatory initiatives aimed at enhancing vehicle safety standards and environmental sustainability are driving changes in the automotive brake components aftermarket. Governments and regulatory bodies worldwide are implementing stringent regulations regarding vehicle safety features, including braking systems. As a result, aftermarket providers are compelled to comply with these standards and offer brake components that meet or exceed regulatory requirements. Furthermore, the growing emphasis on environmental sustainability has led to the development of eco-friendly brake solutions, such as low-emission brake pads and regenerative braking systems, which are increasingly sought after in the aftermarket.

The aftermarket landscape for automotive brake components is characterized by a diverse ecosystem comprising manufacturers, distributors, retailers, and service providers. Manufacturers of brake components range from multinational corporations to small and medium-sized enterprises (SMEs), offering a wide range of products including brake pads, brake discs, brake drums, calipers, and brake fluid. These manufacturers supply their products to distributors and retailers, who in turn distribute them to automotive repair shops, dealerships, and online platforms, where vehicle owners can purchase and install aftermarket brake components.

The emergence of e-commerce platforms and online marketplaces has significantly transformed the distribution channels within the automotive brake components aftermarket. Vehicle owners now have access to a wide selection of brake components from various manufacturers through online channels, facilitating convenient purchasing and installation options. Furthermore, the availability of product information, reviews, and comparison tools online enables consumers to make informed decisions when selecting aftermarket brake components for their vehicles.

 

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The global automotive brake components aftermarket has witnessed significant growth and is expected to continue its upward trajectory in the coming years. The aftermarket for brake components is segmented based on various factors such as product type, vehicle type, sales channel, and region. These segments play a crucial role in understanding the dynamics of the aftermarket and its growth prospects.

The automotive brake components aftermarket is primarily segmented into two main product types: disc brakes and drum brakes. Disc brakes have gained widespread popularity due to their superior braking performance and durability compared to drum brakes. They offer better heat dissipation, which helps in maintaining braking efficiency even under heavy usage conditions. As a result, the demand for disc brake components in the aftermarket has been steadily increasing. Conversely, drum brakes, although less efficient than disc brakes, are still widely used, especially in certain vehicle segments and regions where cost-effectiveness is prioritized over performance.

Another crucial segmentation factor is the type of vehicle, which includes passenger vehicles and commercial vehicles. Passenger vehicles constitute a significant portion of the automotive market, ranging from small hatchbacks to luxury sedans and SUVs. With the increasing number of passenger vehicles on the road globally, the demand for brake components in this segment remains robust. Commercial vehicles, including trucks, buses, and vans, also contribute substantially to the aftermarket demand for brake components. These vehicles often endure heavy-duty usage, leading to frequent replacement of brake components to ensure safety and compliance with regulations.

The aftermarket for automotive brake components is further segmented based on the sales channel, including online and offline channels. The online sales channel has gained traction in recent years due to the convenience it offers to consumers. Online platforms provide a wide range of brake components from various manufacturers, allowing customers to compare prices and specifications easily. Additionally, online sales channels offer doorstep delivery and sometimes provide installation services, further enhancing customer convenience. Offline channels, comprising brick-and-mortar stores, automotive parts shops, and dealerships, remain significant in the aftermarket landscape. These channels cater to consumers who prefer in-person interactions and immediate availability of products.

Geographically, the automotive brake components aftermarket is segmented into North America, Europe &CIS, Asia Pacific, Middle East & Africa, and South America. Each region has its unique market dynamics influenced by factors such as vehicle penetration, regulatory standards, economic conditions, and consumer preferences.

The North American market for automotive brake components is driven by a large vehicle fleet size and stringent safety regulations. The region has a high demand for disc brakes, especially in passenger vehicles. The online sales channel is gaining prominence due to the increasing adoption of e-commerce platforms by consumers.

Europe represents a mature market for automotive brake components, characterized by a strong presence of established OEMs and aftermarket players. Disc brakes dominate the aftermarket, with a growing emphasis on advanced braking technologies such as ABS (Anti-lock Braking System) and ESC (Electronic Stability Control). Offline sales channels, including specialized automotive stores and service centers, remain popular among European consumers.

The Asia Pacific region accounts for a significant share of the global automotive brake components aftermarket, driven by the rapid expansion of the automotive industry in countries like China, India, and Japan. Drum brakes still hold a considerable share in certain segments due to their cost-effectiveness. Online sales channels are witnessing rapid growth, supported by increasing internet penetration and smartphone usage.

The Middle East & Africa region has a growing automotive aftermarket fueled by urbanization, economic development, and increasing vehicle ownership. Passenger vehicles dominate the market, with disc brakes being the preferred choice for most consumers. Offline sales channels, such as local automotive shops and marketplaces, play a vital role in catering to the aftermarket demand.

South America exhibits a mixed market for automotive brake components, with varying preferences across countries. While disc brakes are prevalent in urban areas and among higher-end vehicle segments, drum brakes still have a significant presence in rural and entry-level vehicle segments. Both online and offline sales channels contribute to the aftermarket landscape, with a growing shift towards online platforms in urban centers.

In conclusion, the global automotive brake components aftermarket is characterized by segmentation based on product type, vehicle type, sales channel, and region. Each segment presents unique growth opportunities and challenges, driven by factors such as technological advancements, regulatory standards, consumer preferences, and economic conditions. Understanding these segments is essential for aftermarket players to formulate effective strategies and capitalize on emerging trends in the automotive brake components market.

Major companies operating in Global Automotive Brake Components Aftermarket are:

• Akebono Brake Industry Co. Ltd.
• ABS Friction Inc
• Baer Inc.
• BorgWarner Inc.
• Brembo SpA
• Carlisle Companies Inc.
• Continental AG
• Disc Brakes Australia Pty. Ltd.
• First Brands Group
• Freeman Automotive UK Ltd.

 

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“In the realm of automotive brake components aftermarket, experts underscore a continual surge driven by the aging global vehicle parc, amplified safety awareness, and an escalating trend of vehicle customization. The pivotal role of aftermarket solutions in meeting evolving consumer preferences and ensuring optimal vehicle performance is highlighted. There is a necessity for suppliers to align with technological advancements and sustainability initiatives to navigate the evolving landscape successfully.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

“Automotive Brake Components Aftermarket – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Product Type (Disc Brakes and Drum Brakes), By Vehicle Type (Passenger Vehicles, Commercial Vehicles), By Sales Channel (Online and Offline), By Region, Competition, 2019-2029”, has evaluated the future growth potential of Global Automotive Brake Components Aftermarket and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Automotive Brake Components Aftermarket.

 

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