LONDON--(BUSINESS WIRE)--The global two-wheeler brake pads market is expected to post a CAGR of around 9% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
The growing demand for safety among consumers is compelling manufacturers to integrate advanced technologies into two-wheelers. This has significantly increased the adoption of disc brakes in motorcycles. Leading motorcycle manufacturers such as Hero, Bajaj, Harley Davidson, and Ducati are offering exclusive disc brake systems for both front and rear wheels. Moreover, the compactness offered by disc brakes has further increased their adoption in two-wheelers. With the growing adoption of disc brakes, the demand for two-wheeler brake pads will increase during the forecast period.
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As per Technavio, the development of green brake pads will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Two-Wheeler Brake Pads Market: Development of Green Brake Pads
Factors such as growing environmental concerns and stringent emission norms have compelled OEMs to focus on the development of green brake pads. These brake pads are made of natural fibers such as hemp and are both cost-effective and lightweight. Consistent R&D efforts in terms of product innovation and manufacturing processes coupled with growing awareness regarding global warming are expected to increase the adoption of green brake pads during the forecast period.
“Apart from the development of green brake pads, R&D activities leading to the development of advanced solutions for braking system and increasing preference for electric two-wheelers and regenerative braking system are some other major factors that will boost market growth during the forecast period”, says a senior analyst at Technavio.
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Global Two-Wheeler Brake Pads Market: Segmentation Analysis
This market report segments the global two-wheeler brake pads market by type (motorcycle and scooter) and geography (APAC, Europe, MEA, North America, and South America).
The APAC region led the market in 2018, followed by North America, South America, Europe, and MEA respectively. During the forecast period, the APAC region is expected to maintain its dominance over the global market. This is due to the presence of well established global manufacturers in the region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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