Saudi Arabia Brake Pad Market to Surpass $ 470 Million by 2025
Growing demand for technologically advanced braking systems
with low noise and comfortable ride coupled up with stringent changes in traffic
safety regulations to drive brake pad market in Saudi Arabia through 2025
According to TechSci Research report, “Saudi Arabia Brake Pad Market By Vehicle Type, By Top 5 Part Numbers, By
Company, Competition, Forecast & Opportunities, 2025”, the brake pad market in Saudi Arabia stood grow from
around $ 307 million in 2019 to $ 470 million by 2025. Growing demand for technologically advanced braking
systems to ensure low noise and comfortable rides, in addition to expanding passenger
car fleet, are among the key factors driving brake pad market in Saudi Arabia. Another
factor fueling Saudi Arabia’s brake pad market is stringent changes in the
government’s safety regulations for light vehicles to improve road traffic
safety. Also, customer demand for efficient braking that minimizes a vehicle’s stopping
distance, is rising, and evolution of modern technologies in braking systems
like Electronic Braking System (EBS), Electric Driven Intelligent Brake (EDIB),
Autonomous Electronic Braking (AEB), etc., is driving the brake pad market in
Saudi Arabia.
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Continuous business expansion of brake pad manufacturing
companies across the country and their continuous research and development
activities to manufacture technologically advanced, economical as well as more
efficient brake pads is anticipated to intensify the competition in the brake
pad market across Saudi Arabia over the course of the next five years.
Companies across the country are also introducing more performance-oriented brake
pads equipped with advanced friction materials, which are
significantly enhancing braking performance at higher temperatures to better suit driving conditions in the country.
Saudi Arabia brake pad market can be segmented based on
vehicle type, by part number of top selling companies, and by company. In terms
of vehicle type, the brake pad market in Saudi Arabia is largely dominated by
passenger car brake pad segment due to large passenger car fleet size and increasing vehicle used for off-roading
activities across the country, which requires efficient braking system. These
factors are resulting in higher market share of passenger car brake pad market in
Saudi Arabia and this trend will continue to grow in next five years.
ATE, FBK (Tenneco), Bendix (MAT Holdings), Bosch, AC Delco,
among others are some of the leading players operating in Saudi Arabia brake
pad market. Companies are increasing their focus on expanding product portfolio
and customer outreach through dealer additions and other sales channel to
intensify their presence in the country’s brake pad market. Apart from these renowned brands of brake pads,
various Chinese brands of brake pads are also increasing their footprint in Saudi
Arabia brake pad market by pushing their low-cost products into the market.
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“Increasing demand for premium/luxury sedans and SUVs for
personal transportation, coupled with popular off-roading activities in the
country is fueling the growth of passenger car brake pad market in Saudi Arabia.
Moreover, growing footprint of Chinese brake pad brands in the country and
rising popularity of online sales channel are expected to positively impact
Saudi Arabia brake pad market during 2020 - 2025.” said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management consulting
firm.
“Saudi Arabia Brake Pad Market
By Vehicle Type, By Top 5 Part Numbers, By Company, Competition, Forecast &
Opportunities, 2025” has evaluated the future growth potential of Saudi Arabia
brake pad market 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 analyses the emerging trends along with
essential drivers, challenges, and opportunities in Saudi Arabia brake pad
market.
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