Automotive brake pads are used for slowing down or stopping a vehicle or automobile by applying kinetic energy and converting it to thermal energy for applying friction. The increasing use of breaks due to frequent traffic congestion has propelled the demand for better quality braking pads. This increasing demand for braking pads for sufficing to frequent braking requirements is likely to augment the global automotive braking pads market. This information is provided in a recently published report by Fortune Business Insights™ titled, “Automotive Brake Pads Market Size, Share & Industry Analysis, By Material Type (Semi-Metallic, Non-Asbestos Organic (NAO), Low-Metallic, Ceramic), By Position Type (Front, Front & Rear), By Sales Channel Type (OEM, Aftermarket), By Vehicle Type (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles) and Regional Forecast, 2019-2026.”
Presence of Major Automotive Company Base to Help Asia Pacific Continue Dominance
From a geographical perspective, the global automotive brake pads market is widespread into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Each of these regions is categorized into countries. Among these, Asia Pacific is holding a dominant automotive brake pads market share on account of rise in production and sales of vehicles on a large scale. Additionally, this region stands as a base for major automobile companies such as Tata Motors, Suzuki Motor Corporation, Honda, Mahindra and Mahindra, Toyota Motor, and others. This is likely to help Asia Pacific continue to attract the highest automotive brake pads market revenue in the coming years as well.
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