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Electric Vehicle Brake Pads Market Thriving Global Growth and Valuable Industry Scope by 2026

The global electric vehicle brake pads market is expected to reach $289.2 million by 2026, with a CAGR of 17.75% during the forecast period 2021-2026. The automotive industry is experiencing rising adoption of electric vehicles due to changing consumer preferences based on various factors, such as rising concerns about driver safety, environmental concerns, and acute government regulations and policies. Major original equipment manufacturers (OEMs) are constantly working on making electric vehicles more safe, affordable, and efficient. Over a period of time, the automotive industry is evolving with technological advancement in electric vehicle accessories such as battery systems, cooling systems, braking systems, and other components.
The safety of an electric vehicle (EV) depends upon the braking system, which includes brake pads, brake disc, and brake fluid, etc. The brake pads play an important role in the braking system as the stability and safety of a vehicle depend on them.
Further, the electric vehicle brake pads market has been segmented based on type (organic, metallic, and ceramic), propulsion type (battery electric vehicle (BEV), plug-in hybrid vehicle (PHEV), and hybrid electric vehicle (HEV), vehicle type (passenger cars and commercial vehicles), sales channel (OEM and aftermarket). The regions discussed in this report include North America (U.S., Canada, and Mexico), Europe (France, Germany, Rest-of-Europe), the U.K., China, Asia-Pacific and Japan (Japan, South Korea, and Rest-of-Asia-Pacific and Japan), South America, and the Middle East and Africa.
Market Segmentation
•    Propulsion Type: Battery electric vehicle (BEV), Plug-in hybrid vehicle (PHEV), and Hybrid electric vehicle (HEV)
•    Vehicle Type: Passenger Cars and Commercial Vehicles
•    Sales Channel: Original equipment manufacturer (OEM) and Aftermarket
•    Product Type: Organic, Metallic, and Ceramic
Regional Segmentation
•    North America: U.S., Canada, and Mexico
•    Europe: France, Germany, and Rest-of-Europe
•    China
•    U.K.
•    Asia-Pacific and Japan: Japan, South Korea, Rest-of-Asia-Pacific and Japan
•    South America
•    Middle East and Africa
Market Growth Drivers
•    Rising Demand for Electric Vehicles
•     Government Regulation and Policies Toward Sustainable World Encouraging Customers
•     Increase in Demand for Safety, Better Performance, and Control
Market Challenges
•    Service and Maintenance
•    Difficulty in Noise Cancellation
•    COVID-19 Impact on Electric Vehicle Market
Market Opportunities
•    Development in Materials Used in Brake Pads
•    Environment-Friendly Brake Pads
Key Companies Profiled
NRS Brakes, TRW Aftermarket, ATE Brakes, Akebono, BorgWarner, Brembo S.p.A., Aisin, Bendix, TENNECO INC., Robert Bosch GmbH, EBC Brakes, Heng Yu Friction Ltd., Shandong Zibo Yihaojia Auto Parts Co., LTD, Nanjing Jiu Long Auto Parts Co., Ltd., and Fujian Huari Automotive Parts Co., Ltd.
Key questions answered in the Report
•    For a new company looking to enter the market, which areas could it focus upon to stay ahead in the competition?
•    How do the existing market players function to improve their market positioning?
•    Which are the promising companies that have obtained financial support to develop their products and markets?
•    How does the supply chain function in the electric vehicle brake pads market?
•    Which companies have been actively involved in innovation through patent applications, and which products have witnessed maximum patent applications during the period 2017-2021?
•    Which product segment is expected to witness the maximum demand growth in the electric vehicle brake pads market during 2021-2026?
•    Which players are catering to the demand for different types of brake pads?
•    How should the strategies adopted by market players vary for different product segments based on the size of companies involved in each segment?
•    What are the key offerings of the prominent companies in the market for electric vehicle brake pads? 
•    What are the demand patterns of electric vehicle brake pads across the application areas in different regions and countries during the period 2021-2026?
USP of the Report 
•A dedicated section focusing on the futuristic trends adopted by the key players operating in the global electric vehicle brake pads market
•Extensive competitive benchmarking of top 15 players offering a holistic view of the global electric vehicle brake pads landscape
•Qualitative and quantitative analysis of electric vehicle brake pads at the region and country-level granularity by application and product segments 

on January 14 at 9:35

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