Press Release

Jul, 23 2024

Rising Production of Electric Vehicles (EVS) is Driving the Growth of Global Automotive Brake Shims Market

The global automobile industry is undergoing a fundamental shift, with Electric Cars (EVs) leading the way. The rapid increase in the production of electric vehicles is not only transforming the automotive setting, but also driving major demand in associated markets, including the automotive brake shims industry. The global push towards sustainable and environmentally friendly transportation solutions has led to a surge in electric vehicle production. Major automotive manufacturers are investing heavily in EV technologies, spurred by stringent emission regulations, government incentives, and a growing consumer preference for green mobility options

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Data Bridge Market Research analyses that the Global Automotive Brake Shim Market is expected to reach a value of USD 689,118.13 thousand by 2031, from USD 487,676.47 thousand in 2023, growing at a CAGR of 4.5% during the forecast period of 2024 to 2031.

The rising production of electric vehicles is a pivotal driver for the global automotive brake shims market. As the automotive industry continues to shift towards greener and more sustainable mobility solutions, the demand for high-performance brake shims designed for electric vehicles is set to grow. Manufacturers that embrace innovation and adapt to the evolving needs of the EV market will be well-positioned to capitalize on the expanding opportunities in this dynamic and rapidly evolving sector.

Key Findings of the Study

Automotive Brake Shims Market

Rising Adoption of Active Safety Systems in Modern Vehicles

The automotive industry is witnessing a significant shift towards enhanced safety measures, driven by the rising adoption of active safety systems in modern vehicles. These systems, which include Anti-lock Braking Systems (ABS), Electronic Stability Control (ESC), and Advanced Driver Assistance Systems (ADAS), are designed to prevent accidents and improve vehicle control under various driving conditions. ABS, for instance, prevents wheel lockup during sudden braking, ensuring that the driver maintains steering control. ESC helps maintain vehicle stability by automatically applying brakes to individual wheels if a loss of control is detected. ADAS encompasses a range of technologies, including lane-keeping assist, adaptive cruise control, and automatic emergency braking, all of which contribute to safer driving experiences.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2024 to 2031

Base Year

2023

Historic Years

2022 (Customizable to 2016-2021)

Quantitative Units

Revenue in USD Thousand

Segments Covered

Material (Stainless Steel, Rubber Coated, Aluminum, and Others), Function (Noise Reduction, Vibration Damping, and Heat Dissipation), Sales Channel (New OEM and Aftermarket), Vehicle Type (Passenger Cars, Commercial Vehicles, and Two Wheelers)

Countries Covered

U.S., Canada, Mexico, China, Japan, India, South Korea, Australia & New Zealand, Singapore, Malaysia, Thailand, Indonesia, Philippines, Taiwan, Vietnam, Rest of Asia-Pacific, Germany, U.K., France, Italy, Spain, Russia, Netherlands, Poland, Belgium, Sweden, Switzerland, Turkey, Norway, Denmark, Finland, Rest of Europe, Saudi Arabia, U.A.E., Egypt, South Africa, Israel, Qatar, Kuwait, Bahrain, Oman, Rest of Middle East and Africa, Brazil, Argentina, and Rest of South America

Market Players Covered

Trelleborg AB (Sweden), Nisshinbo Holdings Inc. (Japan), Hella Pagid GmbH (Germany), ADVICS Aftermarket North America (U.S.), ZF Friedrichshafen AG (Germany), Super Circle Auto Limited (India), Brickham Stamping Company, Inc. (U.S.), AKEBONO BRAKE INDUSTRY CO., LTD. (Japan), Robert Bosch GmbH (Germany) , Valeo Service (France), Stanztechnik Schulte GmbH (Germany), ITT INC. (U.S.), Meneta (Denmark), BRAKE PERFORMANCE (U.S.), EBC Breaks (U.S.), PHINIA Inc. (U.S.), Trinity Brand Industries (U.S.), DRiV Inc. (Part of Tenneco) (U.S.), Rizhao DSS International Trading Co., Ltd (China), and TMD Friction Holdings GmbH (Germany) among others.

Data Points Covered in the Report

In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Segment Analysis

Global automotive brake shims market is segmented into four notable segments, which based on material, function, sales channel, and vehicle type.

  • On the basis of material, the global automotive brake shims market is segmented into stainless steel, rubber coated, aluminum, and others

In 2024, stainless steel segment is expected to dominate the Global Automotive Brake Shims Market

In 2024, stainless steel segment is expected to dominate the automotive brake shims market with 43.24% market share due to its superior corrosion resistance property compared to rubber-coated and aluminum segments.

  • On the basis of function, the global automotive brake shims market is segmented into noise reduction, vibration damping, and heat dissipation. In 2024 noise reduction segment is expected to dominate the automotive brake shims market with 45.56% market share
  • On the basis of sales channel, global automotive brake shims market is segmented into new OEM and aftermarket. In 2024, new OEM segment is dominating the automotive brake shims market with the market share of 60.95%
  • On the basis of vehicle type, the global automotive brake shims market is segmented into passenger cars, commercial vehicles, and two wheelers

In 2024, passenger cars segment is expected to dominate the Global Automotive Brake Shims Market

In 2024, passenger cars segment is expected to dominate the automotive brake shims market with the market share of 45.09% due to the higher global production and sales volumes of passenger cars.

Major Players

Data Bridge Market Research analyzes are Trelleborg AB (Sweden), Nisshinbo Holdings Inc. (Japan), Hella Pagid GmbH (Germany), ADVICS Aftermarket North America (U.S.), ZF Friedrichshafen AG (Germany) as the major players operating in the global automotive brake shims market.

Automotive Brake Shims Market

Market Development

  • In May 2024, Meneta Group has inaugurated a new manufacturing facility in Dalian, China, to boost production capabilities and expand its market presence. Outfitted with advanced fineblanking and stamping lines, this state-of-the-art facility enables Meneta to efficiently produce millions of backing plates and accessories, including brake shims, meeting the increasing market demands while reaffirming its dedication to quality and innovation
  • In January 2023, Meneta Group has patented SmartStack, a new shim production method combining two rubber types for enhanced noise reduction. This innovation, with a unique four-layer structure, offers a broad damping range compared to traditional shims. Meneta, with in-house capabilities for both liquid and calendered rubber technology, can produce superior brake shims, positioning the company to excel in both OE and aftermarket applications worldwide. This results in a more durable product with reduced noise, oozing, drag, and off-brake noise, thus extending pad life and overall performance
  • In May 2024, PHINIA INC.’s brand Delphi has unveiled cutting-edge EV brake pads with an advanced coating that ensures reliable braking performance from the first use. Designed for quiet operation and sustainability, these pads are ideal for high-end electric vehicles like the Kia EV9 and Mercedes-Benz EQ series. This development boosts Delphi's market position and customer satisfaction. The incorporation of multi-layered shims significantly reduces noise and vibration, meeting the high standards of performance and comfort demanded by electric vehicle drivers
  • In February, Robert Bosch GmbH entered into an agreement to sell its Brake Components business, including Buderus Guss GmbH and Robert Bosch Lollar Guss GmbH, to AEQUITA SE & Co. KGaA. AEQUITA aims to transform the business into a leading brake disc manufacturer, focusing on decarbonization and low-emission products. This acquisition enhances AEQUITA's automotive division, now generating over EUR 2.5 billion in revenue. The transaction is expected to complete in the second quarter of 2024, pending regulatory approval
  • In September 2024, Stanztechnik Schulte GmbH of Altenkirchen, Germany, received the certification for compliance with IATF 16949:2016 standards, focusing on the manufacture of stamped parts. The certificate, issued on September 6, 2021, remains valid until September 5, 2024, contingent upon the company maintaining its management system in line with Intertek's certification requirements

Regional Analysis

Geographically, the countries covered in the global automotive brake shims market report are U.S., Canada, Mexico, China, Japan, India, South Korea, Australia & New Zealand, Singapore, Malaysia, Thailand, Indonesia, Philippines, Taiwan, Vietnam, rest of Asia-Pacific, Germany, U.K., France, Italy, Spain, Russia, Netherlands, Poland, Belgium, Sweden, Switzerland, Turkey, Norway, Denmark, Finland, rest of Europe, Saudi Arabia, U.A.E., Egypt, South Africa, Israel, Qatar, Kuwait, Bahrain, Oman, rest of Middle East and Africa, Brazil, Argentina, and rest of South America.

As per Data Bridge Market Research analysis:

North America is expected to dominate the Global Automotive Brake Shims Market

North America is expected to dominate the market due to its advanced automotive industry, higher adoption of innovative brake technologies, and stringent safety regulations.

Asia-Pacific is expected to be the fastest growing region in the Global Automotive Brake Shims Market

The region's strong focus on vehicle performance and noise reduction further boosts demand for high-quality brake shims. Additionally, the presence of key market players and extensive research and development activities contribute to regions leading position.

For more detailed information about global automotive brake shims market report, click here – https://www.databridgemarketresearch.com/reports/global-automotive-brake-shims-market


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