Global Automotive Brake shims market was valued at US$ 540.8 Bn in 2021 and is expected to reach US$ 930.0
Mn by 2032, finds Future Market Insights (FMI) in a recent market
survey. As per the findings of the report, revenue through rubber
material grew at 3.8% during 2017-2021 and is expected to witness 4.8 %
CAGR during the forecasted period of 2022-2032. Owing to its excellent
properties of being heat resistant and high insulation for vibration and
noise is driving the demand for rubber coated material in automotive
brake shims.
China to Dominate the Automotive Brake Shims Market in Asia-Pacific throughout the Analysis Period
China is expected to account for 31% of the market share in global automotive
brake shims by 2032. The expected market size in automotive brake shims
is expected to reach US$ 64.6 Mn by 2032. China achieved a growth rate
of 3.2% in automotive brake shims during 2017-2021 and is set to witness
4.5% during the forecast period.
Market growth in China can be attributed to global automotive components manufacturers extending its
production facilities in China. For instance, Meneta has one of its
production facilities in China. Besides Brembo has set up a new
production hub in China, next to the existing plant where brake discs
and brake shims are manufactured. Also, due to the rapid increase in
sales of brake shims, backing plates, and NRS, NUCAP has extended its
current production facility to triple its existing manufacturing
facilities in automotive braking shims. The absolute dollar opportunity
growth in China is projected to reach a valuation of US$ 23 Mn by 2032.
“Automotive manufacturers are continuously engaging in expanding their production
capacities throughout the world. Combining titanium with other elements
will assist in cutting down the manufacturing cost and benefit the
aftermarket sales during the forecasted period” Comments an analyst at Future Market Insights.
Automotive brake shim manufacturers are largely aiming at setting up manufacturing
facilities, investing in R&D, innovating their products and
focussing on development of brake pads which will prove to be optimal
and increase the life of vehicles. The key companies operating in the
Automotive break shims market Vibracoustic USA, Inc. , Akebono Brake
Corporation, Brickham Stampting Company, Inc., Bosch Auto Parts, Avery
Dennison Corporation, Brembo S.p.A, Trelleborg Group,Delphi
Technologies, Meneta, Super Circle Auto Ltd, NUCAP, Brake Performance,
Textar Brake Technology, Stanztechnik Schulte GmbH and Util Group.
Some of the recent developments in Automotive Brake Shims Market are as follows:
- In April 2022, EBC Brakes Racing launched titanium motorsport brake pad shims. It is
suited for extreme temperatures arising from motorsport and is made
available for range of high-performance car applications. - In March 2022, NUADI group expanded its market in North America. The new facilities
will be in Querétaro, Mexico and aims to manufacture brake shims,
backing plates and electrical wear sensors. - In November 2021, NRS brakes expanded its product line by introducing galvanized brake
pads for Mitsubishi Outlander PHEV. NRS brakes for Outlander PHEV will
feature noise-canceling piston cushions and shims. - In July 2021, Bosch released 38 high-quality braking parts which included Bosch Blue
Disc Brake Pads. It covers multi-layer shims which will help noise
dampening, occurring from braking parts. - In February 2020, Delphi announced the launch of its new brake pads for their new
Volkswagen Golf. It called it Five Layers of quality which will focus on
original-equipment noise-absorbing underlayer technology, shims
chamfers and slots for better performance. - In June 2017, TMD Friction developed Textar Q+, an innovative dampening shim to
reduce noise effect. The texture is designed with a unique adhesive and
will prevent direct contact between brake pistons and the backing plate,
thereby reducing vibration transfer.
More Insights Available
Future Market Insights, in its new offering, presents an unbiased analysis of
the Automotive Brake Shims Market, presenting historical market data
(2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals extensive growth in Automotive Brake Shims in terms of
Material Type (Rubber Coated, PSA Material, Thermoset Material, Others),
By Application (Passenger Vehicle, Commercial Vehicle), across five
regions (North America, Latin America, Europe, Asia Pacific and Middle
East & Africa).
About Future Market Insights (FMI)
Future Market Insights, Inc. is an ESOMAR-certified business consulting &
market research firm, a member of the Greater New York Chamber of
Commerce and is headquartered in Delaware, USA. A recipient of Clutch
Leaders Award 2022 on account of high client score (4.9/5), we have been
collaborating with global enterprises in their business transformation
journey and helping them deliver on their business ambitions. 80% of the
largest Forbes 1000 enterprises are our clients. We serve global
clients across all leading & niche market segments across all major
industries.
