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2026-06-16 16:45:52

Global Brake Pad Industry Set for Strong Expansion Through 2031 Amid Automotive Safety Focus

The global brake pad industry was valued at US$ 16.4 billion in 2022. The market is anticipated to expand at a CAGR of 7.3% from 2023 to 2031 and is expected to reach US$ 30.9 billion by 2031. Rising automotive production, increasing replacement demand in the aftermarket sector, and growing emphasis on road safety are driving market growth globally. Brake pads are increasingly being utilized...

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