Automotive Brake Shims Market
According to Future Market Insights (FMI), the global automotive brake shims market generated USD 315.2 million in sales in 2018. After experiencing a 5.2% year-on-year growth in 2022, the market is projected to reach USD 349.0 million in 2023. Over the forecast period from 2023 to 2033, the market is expected to grow at a compound annual growth rate (CAGR) of 5.6%, culminating in a market size of USD 604.5 million by 2033.
Automotive brake shims are critical components positioned between brake pads and calipers to reduce noise, vibrations, and harshness during braking. Their role in absorbing noise and mitigating vibrations enhances passenger comfort and vehicle satisfaction.
The growing production of electric vehicles (EVs) is significantly influencing the automotive brake shims market. With the shift from traditional friction-based braking systems to regenerative braking systems in EVs, there is a heightened demand for specialized brake shims that address noise and vibration issues specific to these systems. Manufacturers are innovating to create more durable and compatible brake shims for regenerative braking, driving market growth. The expanding aftermarket for electric vehicles further fuels this demand, as brake shim replacement becomes increasingly necessary.
Get the Insights You Need – Connect with Sales to Secure Your Copy of the Report Now!
The transition to electric vehicles is expected to transform the brake shims industry by highlighting their role in providing a quieter and more comfortable braking experience for EV users. Additionally, the incorporation of recycled rubber and bio-based composites in brake shims can help reduce waste and minimize the environmental impact of manufacturing. These sustainable materials not only contribute to environmental conservation but also enhance brake shim performance. Recycled rubber can improve durability and wear resistance, while bio-based composites offer high strength and stiffness, potentially boosting brake performance.
As the automotive industry continues to focus on sustainability and performance, these advancements in brake shim technology are crucial for a greener and more efficient future.
Key Takeaways from the Automotive Brake Shims Market Study:
- In the historical period from 2018 to 2022, the global automotive brake shims industry recorded a CAGR of 2%.
- The United States automotive brake shims industry is expected to reach a value of USD 100.1 million by 2033.
- China automotive brake shims industry is anticipated to incline at a CAGR of 9% from 2023 to 2033.
- Germany automotive brake shims industry is expected to surpass a market value of USD 26.3 million by 2033.
- The rubber segment by material is expected to dominate the automotive brake shims industry with a CAGR of 7% from 2023 to 2033.
“The market for automobile brake shims is being propelled by growing use of regenerative braking systems globally. Regenerative braking is a technique that uses a vehicle’s kinetic energy to create electricity. For subsequent usage, it can be kept in the battery. This factor is projected to create novel opportunities for leading companies.” – says a lead analyst at Future Market Insights (FMI).
Competitive Landscape
The automotive brake shims industry has a highly competitive landscape, with a significant number of players vying for high market shares. Several significant participants in this industry comprise Robert Bosch GmbH, ZF Friedrichshafen AG, Valeo S.A, Delphi Automotive PLC, Nisshinbo Holdings Inc., and Brembo S.p.A. among others.
Manufacturers might be researching and adopting new materials for brake shims to enhance their performance, durability, and noise reduction capabilities. Advancements in materials science can lead to shims that are more effective at reducing brake noise and vibration.
A handful of players are developing and incorporating advanced noise reduction technologies into brake shims. These could include features such as dampening layers, insulating coatings, and specific designs that minimize noise and vibration during braking.
They are providing a wider range of brake shim designs and sizes to fit several vehicle models and brake systems. Customized solutions can help improve performance and noise reduction for specific vehicles.
For instance,
- EBC Brakes Racing introduced titanium motorsport brake pad shims in April 2022. It is appropriate for the high heat that comes with racing. For a wide range of high performance automotive uses, it was made accessible.
Comprehensive Market Insights: Full Report Overview
Find More Valuable Insights into Automotive Brake Shims Market Study
The research report analyzes the market demand trends of automotive brake shims. The global market estimation and growth projection are based on factors such as end-use industries development, COVID-19 crisis impact, replacement ratio, and adoption rate of automotive brake shims.
As per Future Market Insights (FMI) research scope, the automotive brake shims industry has been studied and segmented on the basis of material (rubber material, pressure sensitive adhesive (PSA) material, and thermoset material, others), application (two wheelers, passenger vehicle, commercial vehicle), sales channel (OEM, aftermarket), and regions. The report provides qualitative and quantitative information on various players in this market. This report also tracks the market by both, the supply side and demand side.
About the Automotive Division at Future Market Insights (FMI)
The automotive division of Future Market Insights (FMI) research offers a novel approach and innovative perspective in analyzing the automotive market. Comprehensive coverage of capital, portable, process, construction, industrial, and special-purpose machinery across the manufacturing sector and distinctive analysis of installed base, consumables, replacement, and USP-feature-application matrix make us a pioneering voice in the industry.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
