The automotive brake shims market is expected to grow from US$ 540.78 million in 2021 to US$ 705.11 million by 2028; it is estimated to grow at a CAGR of 3.9% from 2021 to 2028.
Automotive brake shims in the automotive brake shims market are made of slim layers of rubber or metal adhesive pads and are placed between the brake caliper and the brake pad to reduce the brake noise. Automotive brake shims are used in disc brake systems, which minimize excessive noise generated by disc brakes, thereby stopping the movement of the wheel hub assembly (WHA). Automotive brake shims also improve brake quality and reduce the vibration of the calipers and brake pads. They are used in different vehicles, including two-wheelers and four-wheelers. Also, the automotive brake shims are employed in passenger vehicles and commercial applications. An automotive disc brake is installed on the front or rear side or both sides of the wheel hub. Automotive brake shims are designed to provide a multifunction noise control system and act as a component attached to the friction pad backing plate. Nowadays, manufacturers in the automotive brake shims market focus on high-quality brake shims made of advanced technological materials or various metals, such as elastomeric rubbers, viscoelastic polymers/bonding materials, and fiberglass.
Geographically, North America is likely to dominate the automotive brake shims market. The automotive brake shims market growth can be attributed to the growing use of disc braking systems, including shims, clips, gaskets, and even sensors in low-cost automobiles. To enhance their market shares and assure healthy growth, the leading companies have made significant expenditures in research and development. With 8.8 million cars produced in 2020, the US has the largest market share in automobile production. For instance, Continental North America, a subsidiary of Continental AG based in the US, invested almost US$ 40 million in the Morganton car plant thereby increasing the demand in the automotive brake shims market.
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Automotive Brake 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 Brake 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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Speak to AnalystImpact of COVID-19 Pandemic on Global Automotive Brake Shims Market
Automotive brake shim needs were prevalent before the emergence of the COVID-19 pandemic because of the growing vehicle sales. As per a Rubber News article published in December 2019, vehicle sales increased in the US from 2009 to 2016 before dropping slightly in 2017 but registered above ~17 million vehicle sales for 2016 to 2018. The total US light vehicle sales figure for 2019 reached above the ~17 million mark.
Before the emergence of the COVID-19 pandemic, the surge in commercial vehicle sales boosted the North America automotive brake shims market growth. According to the OICA Report of 2021, sales of commercial vehicles in the US were ~7,604,154 in 2021, up from 6,895,604 in 2020. Thus, the COVID-19 pandemic will positively impact the automotive brake shims market in North America during the forecast period.
Lucrative Regions for Automotive Brake Shims Market
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Automotive Brake Shims Market Insights
Rise in Production of Automotive Vehicles
Rise in Production of Automotive Vehicles
The trend of urbanization is growing rapidly, increasing the average disposal income of the urban population, allowing people to enhance their lifestyles. The transformed lifestyles further boost the demand for passenger cars, thus, propelling the manufacturers to uplift their production to fulfill customers’ requirements. Production of vehicles, including passenger cars and commercial vehicles, registered steady growth in developed and developing economies in the post-recession era since 2010. Lowered interest rates on loans have also favored the growth of the automobile industry.
In the past few years, consumer behavior toward intercity and intracity transit has transformed to a new level. With an increase in the disposable income of individuals and the stable economic structure of countries, the production of vehicles has boosted exponentially. With the rising demand for cars globally, car production has increased, creating the requirement for automotive brake shims thereby increasing the growth in the automotive brake shims market.
Material Type-Based Market Insights
Based on material type, the automotive brake shims market is segmentedrubber coated, PSA material, thermoset material, and others. In 2021, the others segment led the automotive brake shims market, accounting for the largest share in the market.Automotive Brake Shims Market, by Material Type, during 2021–2028 (%)
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Application-Based Market Insights
Based on application, the automotive brake shims market is segmented into two-wheeler, passenger vehicle, and commercial vehicle. In 2021, the passenger vehicle segment accounted for the largest market share.
Market players adopt strategies, such as mergers, acquisitions, and market initiatives, to maintain their positions in the automotive brake shims market. A few developments by key players are listed below:
- In October 2020, Wolverine Advanced Materials (an ITT Inc. company) launched its new value line of brake shim and abutment clip materials under the aftermarket brand QUIETPATH. These materials offer high noise attenuation across a broad range of environmental factors. The initial launch includes two new exclusive brake shim materials and one new abutment clip material for the better segment of the independent automotive brake shims aftermarket.
- In February 2020, Bosch launched new parts, including brake pads for selected vehicles. Bosch launched three new brake pad stock-keeping units added to the Bosch QuietCast brake pad product line. The new part numbers cover more than ~646,000 late-model Asian & domestic vehicles in operation (VIO) in the US and Canada, such as the 2018 Buick Regal TourX, the 2018–2019 Chevrolet Camaro, and the 2016–2017 Nissan X-Trail. The new part numbers include synthetic lubricant for all applications and a hardware kit for specific applications. Three new brake pad set SKUs are added to the Bosch blue disc brake pad product line to add more than ~646,000 VIO coverage, including the 2016–2018 Buick Envision, 2018 Chevrolet Equinox, and 2016–2018 Honda Clarity. The brake pads feature multilayer shims for superior noise dampening and provide added protection to the braking system.
Company Profiles
- Avery Dennison Corporation
- Brembo S.p.A.
- BOSCH Auto Parts
- Trelleborg Group
- Meneta
- Super Circle
- NUCAP
- Brake Performance
- Delphi Technologies Plc
- TEXTAR Brake Technology.
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
Booming production of automotive vehicles and growing norms for reducing fatalities caused by vehicle accidents are driving the growth of the automotive brake shims market.
The market opportunity lies in developing countries. Developing countries have become a hub of opportunity for various markets, including automotive brake shims market. Further, the rising adoption of electric vehicles and advancements in automotive brake technology are presenting significant potential for the future growth of the automotive brake shims market players.
Based on material type, the automotive brake shims market is segmented into rubber coated, PSA material, thermoset material, and others. In 2021, the others segment led the automotive brake shims market, accounting for the largest share in the market.
In 2021, APAC led the market with a substantial revenue share, followed by Europe and North America. APAC is a prospective market for automotive brake shims developers.
The major five companies in automotive brake shims includes Bosch Auto Parts, AVERY DENNISON CORPORATION, BREMBO S.P.A., Trelleborg Group, and Delphi Technologies.
On the basis of application, the automotive brake shims market can be segmented into two wheeler, passenger vehicle, and commercial vehicle. In 2021, the passenger vehicle segment accounted for the largest market share.
The List of Companies - Automotive Brake Shims Market
- Avery Dennison Corporation
- Brembo S.p.A.
- BOSCH Auto Parts
- Trelleborg Group
- Meneta Automotive Components Pvt. Ltd
- Super Circle
- Nucap Industries Inc.
- Brake Performance
- Delphi Technologies Plc
- TEXTAR Brake Technology
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- Data Analysis:
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